Is Monzo or Revolut better?

Is Monzo good for abroad?

Fee-free spending: with Monzo, you can pay anywhere and in any currency, on your debit or credit card, fee-free! We also pass Mastercard's exchange rate directly onto you, without any hidden costs.

Which is better, Monzo or Revolut or Starling?

Verdict: Starling's free account is most feature-complete. Monzo offers simplicity with paid extras. Revolut provides strong global tools but lacks FSCS protection.

What is the controversy with Revolut?

Revolut has been fined €3.5 million by the Lithuanian central bank over alleged deficiencies in its AML controls. Regulatory authorities found that the neobank failed to implement adequate controls to prevent money laundering and related financial crime.

Is there a monthly fee for a Revolut card?

Revolut customers can enjoy our Standard plan for no monthly fee. You can also choose to upgrade to a paid plan to unlock improved limits and partnership benefits on Premium, Metal, or Ultra.

Why is Revolut declining?

The account associated with the payment method used doesn't have sufficient funds to make the payment. The customer's bank doesn't allow the cardholder to make the payment. The transaction has been declined due to high risk. This can be a trigger from both the issuing bank and internal Revolut tools.

Why avoid Monzo?

If you're a heavy cash user then Monzo isn't for you, low limits on cash withdrawals, and you'll be charged to put the money back and if you have a few k to deposit it could take years due the crazy limits. If you like being able to get in contact with your bank in an emergency then it's not currently the bank for you.

What are the top 3 best banks?

Here, we'll take a quick look at the top three banks from the study and what they offer.

• Capital One (score: 702) Capital One is the sixth-largest bank in the U.S. by total assets. ...
• U.S. Bank (score: 679) ...
• Chase (score: 677)

Is Monzo still under investigation?

In July 2025, Monzo was fined over £21 million by the UK's Financial Conduct Authority (FCA) for serious and prolonged failings in its AML controls between 2018 and 2020. The investigation uncovered critical lapses in customer due diligence, transaction monitoring, risk assessment, and governance.

Why do people prefer Revolut?

Revolut is great for spending while abroad. The competitive exchange rates help you save when paying in different currencies, and you can hold a range of currencies on your account. Check our currency converter to learn more about exchange rates. Additionally, you can transfer money internationally in 70+ currencies.

What card is better than Monzo?

With an easy application process, simple accounts with transparent fees, and straightforward reward schemes, Suits Me® is a great alternative to Monzo.

What are the cons of using Monzo?

What are the drawbacks of Monzo?

• Some useful features reserved for fee-paying customers.
• Age restrictions apply to Monzo Max travel insurance.
• Cash deposit fees on certain plans.
• No access to physical branches might be a drawback to some.
• Cash withdrawal fees may apply (more on this below)

What are the disadvantages of a Revolut card?

Disadvantages or improvement areas

Revolut is a debit card, not a credit card, so you will not have the benefits of a credit card. You will be able to transfer money abroad in more than 30 currencies at interbank exchange rates. In the standard plan you will not have access to priority chat.

How to avoid Revolut fees?

Always pay in the local currency

If prompted, choose to pay in the local currency and reject any exchanges. If you have enough of the local currency, you shouldn't be charged any additional fees for exchanges by Revolut.

Is Revolut truly free to use?

Create a Revolut account for free

Revolut offers multiple plan options, which come with higher monthly no-fee allowances, so you can exchange and send money abroad at competitive rates. And you'll pay zero transfer fees when you send money to other Revolut customers.

Where is Revolut banned?

You can make card payments with your Revolut Business cards in most countries that accept Mastercard or Visa. Countries we don't support payments in include, but aren't limited to: Belarus, Crimea, Cuba, Iran, North Korea, Libya, Myanmar, Russia, Syrian Arab Republic, and Venezuela.

Can I get my money back if I was scammed on Revolut?

If you believe your account has been used fraudulently, fill out a chargeback form and we'll help you resolve the issue.

Is there any risk with Revolut?

As an authorised financial institution compliant with Electronic Money Regulations, 100% of your main account balance is safeguarded.

Why is Monzo better than Revolut?

Monzo is a fully regulated bank, while Revolut is still transitioning to full banking status. Monzo offers FSCS protection up to £85,000, but Revolut e-money accounts are not covered. Revolut excels in multi-currency and global payments, while Monzo offers more traditional banking features.

What bank is better than Revolut?

What is the best alternative to Revolut? It depends on your business needs: - Wise is ideal for low-cost international transfers with real exchange rates. - Starling offers FSCS protection and traditional UK banking features.