Monzo - Mobile Banking

Monzo

About this app

Monzo is an award-winning mobile banking app that helps you save towards your goals, spend confidently, and manage your money in one place—all without any fees.

Open a personal or joint checking account in just a few minutes. Earn $15 for you and your friend when you invite them to Monzo. Terms apply.

WHY OVER 10 MILLION CUSTOMERS LOVE MONZO

🚫 Say goodbye to fees. No account fees, overdraft fees, or foreign transaction fees.
🌱 Earn up to 3.75% APY with our no catch instant access savings.
💸 Get paid early with a qualifying direct deposit**.
🏦 Connect all of your accounts and cards for an all-in-one view of your finances.
⚡️Instant access to cash with our network of nearly 40,000 free ATMs across the US.
🏆 Our award-winning support team is here to help 24/7.
🛡️ With Monzo, your money is insured up to $250,000 through our partner Sutton Bank, Member FDIC.¹

UNDERSTAND YOUR SPENDING HABITS

Real-time notifications each time you spend on your debit card.
Get money saving insights across all your bank accounts and credit cards.
Set a target for how much you want to spend and we’ll help you stay on track.

REACH YOUR SAVINGS GOALS

Earn up to 4.25% APY on your savings, with a rate more than 9x the national average.*
Set aside money for trips, bills, emergency funds, and more in a Savings Jar.
Set a goal on a Jar and we’ll show you your progress as you save. Tell us what date you want to reach your goal by, and we’ll work out the regular deposit needed.
Automatically contribute a portion of your paycheck towards your goals.
Turn your spare change into savings with automatic roundups.

SERIOUSLY SECURE

With Monzo, your money is insured up to $250,000 through our partner Sutton Bank, Member FDIC.¹
Anti-fraud systems that make sure your money is safe, without adding friction for you.
Protect your money with Touch ID, Face ID, and PIN.

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*The national average interest rate for savings accounts as posted on FDIC.gov, as of June 17, 2024.

**A qualifying direct deposit is: an ACH deposit of $250 or more to your Monzo account; or deposit is made by your employer or payroll provider for payroll or pension payments; Or by a government agency for benefit payments (e.g., Social Security)

Monzo’s Savings Jar Annual Percentage Yield (APY) is as of July 29, 2024. The APY may change at any time.

Registered address: Monzo Inc, 447 Sutter St., Ste 405 PMB1025, San Francisco, CA 94108

The Monzo Mastercard Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

¹Your funds are held at Sutton Bank, Member FDIC. Though Monzo is not an insured bank, money in your Monzo account is eligible for pass-through FDIC insurance that would protect up to $250,000 in the unlikely event that Sutton Bank failed. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply, which you can learn more about on fdic.gov.

Ratings and reviews

I want my money transferred out and my account closed, because they cannot offer what I need, but they are unable to undo the initial transfer themselves - suspicious - and I had to connect another account to them to transfer my money out. Only I can't do that either. I connected my PayPal TWICE, but selecting to move money never shows my PayPal account. Do not use this app. You may never see your money again. I'm still waiting because their support is the literal worst. Run!

honestly, this is one of the best apps out there besides Chime. It has great features and maintaince to keep track of your money. allows to create multiple savings accounts or, as they call them, here: "Jars," allowing you to save money for multiple things and not just one singular thing. The physical card is easy to use. Managing my money has never been so easy like now!!

New user here (post-redesign). The app isn't terrible, but it's unnecessarily bloaty, because it has a lot of pointless redundancy, buttons and sections that link to the same places or perform the same function, which causes more confusion. Keep it simple, one button to perform one function, unless absolutely relevant somewhere else. However I really appreciate that they allow usage of the app on modified devices.

What's new

Popped by to find out what's going on? We've mostly been squashing bugs.