Monzo Review and Service Offering

Monzo

Our take on Monzo

Monzo is a digital bank headquartered in London. In August 2024, they announced surpassing 10 million personal customers in the UK. Monzo doesn’t invest or provide loans to the fossil fuel industry, but instead keeps customer deposits with the Bank of England. They offer various savings options with different providers, which should be screened separately for their environmental credentials.

How we rate banks

Last reviewed: February 21, 2025

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Founded: 2015

Policies

Environmental Policy

Deposit Protection

Customers Served

Corporate
Small and Medium Enterprises (SMEs)
Retail and Individual

Services

Mobile Banking
ATM Network

Fees

No account maintenance fee
No overdraft fee

Accounts	Interest rates	Fees
Checking	-	No maintenance or overdraft fees
Savings	3% - 5%	No maintenance or overdraft fees
ISAs	2.75% - 3.25%	No maintenance or overdraft fees

Loans	Interest rates	Fees
Credit cards	Rates may vary	Fees may vary
Mortgages or loans	Rates may vary	Fees may vary

This bank does not offer any Nonprofit accounts or loans.

This bank does not offer any Government accounts or loans.

Accounts	Interest rates	Fees
Checking	0% - 1.3%	No maintenance or overdraft fees

Loans	Interest rates	Fees
Corporate lending	Rates may vary	Fees may vary
Small business lending	Rates may vary	Fees may vary
Equipment lending	Rates may vary	Fees may vary

Accounts	Interest rates	Fees
Savings	1.3% - 3.25%	No overdraft fees

This bank does not offer any Corporate loans.

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