Also known as: Monzo
Monzo Bank Ltd is a UK digital bank that operates entirely through a smartphone app. It was founded in 2015 and is one of the best-known challenger banks in the UK, with several million customers.
Monzo offers personal current accounts with a bright coral debit card that became widely recognisable. The app provides real-time spending notifications, automatic spending categories, savings pots, bill-splitting tools, and budgeting features. There are no physical branches.
Personal accounts are available in a free tier and paid tiers with additional features. Business accounts are also available for sole traders and limited companies. Monzo has expanded its product range to include personal loans, credit cards through a separate product, and cash ISAs.
The bank is known for a strong focus on app design and user experience. Many customers use Monzo as their primary account or as a budgeting tool alongside a traditional bank account. Monzo has also built features aimed at supporting customers in financial difficulty, including gambling block tools and breathing space options.
If you have a Monzo account and need to contact their support team, this is done through the in-app chat. There are no physical branches or a public telephone number for general customer queries. Their registered address is Broadwalk House, 5 Appold Street, London, EC2A 2AG. Monzo Bank Ltd is authorised by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority. Eligible deposits are protected up to £85,000 under the Financial Services Compensation Scheme.
Free debt advice is available from StepChange and National Debtline if you need help with any Monzo products.
Quick summary
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Main products and services
Personal current accounts; savings pots; overdrafts; personal loans; Monzo Plus/Premium subscriptions; business current accounts; international transfers; budgeting tools
Trading names and group notes
App-only bank with no physical branches. Received full UK banking licence 2017. Approximately 10 million UK customers as of 2026. FCA issued a £5m fine in 2024 relating to financial crime controls (subsequently remediated). Monzo Business also available. US expansion underway. IPO plans have been discussed publicly.Review scores are third-party public indicators only. They are not proof of FCA compliance, product quality, or suitability for your circumstances.
Trustpilot
4.6
68755 reviews
App Store
4.9
Google Play
4.6
Other review sources
Which? Recommended Provider; Which? Customer Score: 82%; Smart Money People: 4.5/5; 79% of Trustpilot reviews are 5-star; consistently top-ranked in UK banking satisfaction surveys; FSCS protected deposits up to £85,000
Overall public sentiment
Excellent. Among the highest-rated UK banks on Trustpilot (4.6/5, Excellent) with the highest review count of any UK bank (68,755+). Customers praise app design, instant notifications, budgeting tools, and customer support quality. Complaints relate to account freezes under financial crime monitoring and occasional app outages.
Review sources
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Source URLs used in preparing this record
Date checked
2026-06-05
Next review due
Periodic review
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