Also known as: Monzo
Monzo Bank Ltd is a UK digital challenger bank founded in 2015, fully licensed by the PRA and FCA. It operates entirely through its mobile app with no branch network. Known for real-time spending notifications, fee-free overseas spending, and budgeting features. One of the UK's fastest-growing banks with approximately 10 million customers as of 2026.
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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 and social proof
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
Ask Fin gives you simple money tools for budgeting, spotting savings, checking possible benefit areas and building better money habits. General guidance only — not regulated financial advice.
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