The main alternatives to Monese are:
Monese launched in 2015 and offers a mobile bank account which you can open within minutes. You don’t need to provide proof of address, pass a credit check or provide any documents other than a selfie and some photo ID.
Your Monese debit card includes generous allowances for spending and withdrawing money abroad. It doubles up as a budgeting app too, providing spending overviews, savings goals, transaction details and downloadable statements.
You can open a personal or business account if you live in one of the 31 countries in the European Economic Area.
Monese is an electronic money provider rather than a bank, which means that any money you hold with the company isn’t protected by the Financial Services Compensation Scheme (FSCS). But it does safeguard customers’ cash by holding it in an account that is separate from money owned by the business.
But how does its mobile-only bank account compare? This guide outlines five alternatives to Monese.
Monzo is a popular online bank account with 9 million customers. Like Monese, it launched in 2015.
Monzo accounts are managed entirely through an app. There are no charges whatsoever for spending overseas. You can also withdraw money at foreign ATMs with no charge up to a set limit.
Monzo is a bank so is able to overdrafts and personal loans, whereas Monese is an e-money provider and doesn’t offer these products.
Like Monese, the Monzo app has plenty of handy budgeting features.
 |  | |
| Finder score | 4.6 ★★★★★ | 4.0 ★★★★★ |
| Interest when you're in credit | 0% | 0% |
| Free spending abroad | ||
| FSCS protected | ||
| Have salary paid in | ||
| Separate savings accounts | ||
| Cheque scanning | ||
| Free ATM withdrawals | Up to £400 per month | 2% per withdrawal |
| Free foreign transactions | Unlimited | 2% fee |
| Free foreign ATM withdrawals | Up to £400 in EEA and £200 elsewhere every 30 days | £1.50 fee |
| Credit check | ||
| Find out more |
The Revolut digital banking app has more than 25 million customers.
Like Monese, Revolut is an e-money provider and both companies might appeal to anyone who wants access to free international money transfers and free global spending.
Revolut’s sign-up process is just as quick and easy as signing up at Monese. The Revolut app has some useful budgeting features too.
You can choose from the free standard account, or upgrade to a paid-for account that come with extra perks. The Plus account costs £3.99 a month and the Premium account costs £7.99 a month and comes with overseas medical insurance, plus a bigger fee-free limit for ATM withdrawals (up to £400 per month.)
The Metal account costs £14.99 a month and offers even more benefits, including delayed baggage and flight insurance plus winter sports cover. The Ultra account costs £45 and includes benefits such as a platinum-plated card, cashback oppurtunities on transactions, as well as unlimited lounge access.
Revolut also offers a number of invitational promo codes including one where new customers can receive a sign-up bonus of £20.
 | | |
| Finder score | 4.2 ★★★★★ | 4.0 ★★★★★ |
| Interest when you're in credit | 0% | 0% |
| Free spending abroad | ||
| FSCS protected | ||
| Have salary paid in | ||
| Separate savings accounts | ||
| Cheque scanning | ||
| Free ATM withdrawals | Limited to £200 per month or 5 withdrawals | 2% per withdrawal |
| Free foreign transactions | Limited to £1,000 per month | 2% fee |
| Free foreign ATM withdrawals | Limited to £200 per month | £1.50 fee |
| Credit check | ||
| Find out more |
For all intents and purposes, Starling Bank is very similar to Monese (as well as Monzo and Revolut).
It’s quick and easy to set up, and useful for those spending, sending or withdrawing money abroad. Starling Bank customers get a euro current account, as well as one for sterling. It also has a higher fee-free international ATM withdrawal limit than Monese.
Unlike Monese, Starling is a bank and offers overdrafts.
 | | |
| Finder score | 4.7 ★★★★★ | 4.0 ★★★★★ |
| Interest when you're in credit | 3.25% | 0% |
| Free spending abroad | ||
| FSCS protected | ||
| Have salary paid in | ||
| Separate savings accounts | ||
| Cheque scanning | ||
| Free ATM withdrawals | Limited to 6 withdrawals per day, with a daily limit of £300 | 2% per withdrawal |
| Free foreign transactions | Unlimited | 2% fee |
| Free foreign ATM withdrawals | Unlimited | £1.50 fee |
| Credit check | ||
| Find out more |
Opening an account with either Monese or Chase could be a sensible choice if you’re looking to spend on your debit card abroad. Both accounts offer fee-free foreign transactions, although depending on the plan you choose, Monese might impose set limits each month.
Both Monese and Chase also offer a round-ups feature that lets you round up spare change from a transaction and transfer it to a savings pot. The big difference is that Chase pays interest on this, while Monese does not. Chase also pays interest on the balance you hold in your current account and customers can earn cashback as they spend for the first year. Monese, on the other hand, lets customers easily transfer money in foreign currencies. You can also open both UK and European accounts with Monese, while Chase only offers a UK account.
Finally, Chase offers FSCS protection, while Monese does not.
 | | |
| Finder score | 4.2 ★★★★★ | 4.0 ★★★★★ |
| Interest when you're in credit | 0% | 0% |
| Free spending abroad | ||
| FSCS protected | ||
| Have salary paid in | ||
| Separate savings accounts | ||
| Cheque scanning | ||
| Free ATM withdrawals | Up to £500 per day | 2% per withdrawal |
| Free foreign transactions | Unlimited | 2% fee |
| Free foreign ATM withdrawals | Up to £1,500 per month | £1.50 fee |
| Credit check | ||
| Find out more |
Zempler is another digital-only bank account. It offers all the features of a standard current account, including a card, bank payments, ATM withdrawals and direct debits. It also offers an overdraft of up to £2,000.
You can even add a US dollar or Euro card to your account and pay no foreign transaction fees whilst abroad. You can withdraw up to $500/€500 a day.
Like Monese, Zempler also offers a Creditbuilder add-on which can help those with poor credit improve their credit scores. If you opt for this, you are lent the equivalent of 12 months in account fees. Your payments are then treated as loan repayments and reported to credit reference agencies. You’ll pay £5.95 a month for Activeplus. As long as you keep up with your repayments, your credit score will improve.
Curve works slightly differently as it enables you to connect all of your separate debit and credit cards to your Curve account and then spend from any of them using just one card.
You can use your card abroad and there are no foreign exchange fees on weekdays. You’ll also be able to earn cashback and choose from 4 different plans, one of which is free. Curve X costs £5.99 a month, Curve Black costs £9.99 a month and Curve Metal costs £17.99 a month. Curve Black and Metal offer worldwide travel insurance.
Many of these app-based accounts are full of features, but make sure you compare the reviews too so you can feel confident that the customer service is up to scratch.”
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