Monzo vs Revolut 2026: Full Review and Which to Choose

Monzo and Revolut are the UK's two biggest app banks, and on the surface they look similar: free accounts, instant notifications, savings pots and paid plans with perks. Underneath, they're built for different jobs. I've compared them across eight areas using each bank's own pages, checked today, with a verdict for each.

Key takeaways

• Both are now full UK banks. Revolut got its full UK licence in March 2026, so eligible deposits at both are FSCS protected up to £120,000.
• Service: Monzo ranked first in Great Britain in the August 2026 CMA survey, with 79% of customers likely to recommend it. Revolut wasn't included.
• Travel: Revolut wins, with unlimited weekday exchange on Premium and above, and multi-currency accounts on every plan.
• Rewards: Revolut wins. RevPoints convert to Avios at 1:1, while Monzo has no equivalent points scheme.
• Paid plans: both include Uber One at around £9 a month. Monzo Perks adds a Railcard, while Revolut Premium adds 11 other subscriptions.

Monzo vs Revolut at a glance

This table compares the free plans and the headline features of each bank:

All savings rates are variable. Sources: Monzo plans and Revolut plans.

Is Monzo or Revolut better as a main bank account?

Monzo is the better main account for most people. It's built around salary, bills and budgeting, and its service is independently rated the best in the UK.

In the CMA's service quality survey published in August 2026, Monzo ranked first in Great Britain with 79% of customers likely to recommend it for overall service, ahead of Starling (76%) and Nationwide and First Direct (75%), according to the published results. Revolut isn't part of that survey, so there's no direct comparison.

Monzo's everyday features are also more polished for running a household budget: salary sorter, bills Pots, shared tabs, and on paid plans, connected accounts so you can see all your banks in one place.

Revolut can absolutely be your main account. It supports salary payments and Direct Debits, and it's now a fully licensed UK bank. But its app is designed around spending, travel and investing, so it can feel busier if all you want is to pay the bills.

Verdict: Monzo.

Which is better for travel and spending abroad?

Revolut is better for frequent travellers. Both banks let you spend abroad on your card without a fee, but Revolut gives you multi-currency accounts and lets you exchange in advance at its rate.

The limits are where it differs. Revolut's free Standard plan includes £1,000 of weekday exchange a month, with a 1% fee at weekends. Premium (£8.99) and above remove the weekday limit and the weekend fees entirely. Monzo doesn't let you hold other currencies, but card payments abroad are fee-free, which is all you need for occasional trips.

For cash, the free plans are similar: Revolut allows £200 or 5 withdrawals a month, and Monzo gives £200 every 30 days outside the EEA. Paid plans go further on both. Monzo Perks and Max raise it to £600, and Revolut Metal to £800.

If you travel several times a year, Revolut Metal's included travel insurance and Monzo Max's Zurich multi-trip cover are both worth comparing. I've broken them down in our Revolut plans guide and our Monzo plans guide.

Verdict: Revolut.

Which pays more interest on savings?

It's close, and it depends on which plan you're on. On the free plans, Revolut pays 2.9% AER and Monzo 2.75%. On the £9 plans they're level at 3.25%. On the top mainstream plans, Monzo Max pays 3.50% and Revolut Metal 3.4%.

Monzo also has two extras that can tip it:

• Select Access savings at up to 3.65% AER on Perks and Max, if you make 2 or fewer withdrawals a year.
• Saving Challenge at 5.00% AER on Extra, Perks and Max, on up to £2,671 a year.

Revolut Ultra pays 4% on up to £200,000, but it costs £60 a month, so only very large balances make it worthwhile for interest alone. All these rates are variable and change regularly. For an emergency fund, a dedicated easy-access account may beat both, so see our emergency fund guide.

Verdict: a draw, with Monzo slightly ahead on paid plans.

Which has better rewards and perks?

Revolut wins on rewards, and the paid plans are evenly matched on perks.

Rewards. Revolut's RevPoints are a genuine edge. You earn 1 point per £10 on Standard, up to 1 per £1 on Ultra, and points convert to British Airways Avios at 1:1. Monzo has no points scheme on card spending. Its paid plans do include Billsback, a monthly prize draw that pays back at least 1,000 eligible bills, up to £150 each.

Paid plan perks at about £9 a month. Both include Uber One, which costs £49.99 a year direct from Uber:

Monzo Perks suits commuters and people who'd use the cinema and Greggs treats. Revolut Premium suits people who'd use the apps. The key practical difference is the term: Monzo Perks can be cancelled any time, while Revolut Premium is a 12-month plan.

If you use Uber to commute, read our guide on how to stack Uber One, Avios and RevPoints. It's where Revolut's points really add up.

Verdict: Revolut for rewards; a draw on perks.

Which is better for investing?

Revolut is more flexible for share trading. Its plans include between 1 and 10 commission-free trades a month on 4,000+ global stocks, and a 0.25% fee after that on Premium and Metal. Monzo offers ready-made investment funds and pensions, with discounted fees on Perks and Max.

Neither is the cheapest place for a long-term Stocks and Shares ISA, though. If you're investing for the long term, compare dedicated platforms in our best Stocks and Shares ISA guide.

Capital at risk: the value of investments can go down as well as up.

Verdict: Revolut for trading, but consider a specialist platform for an ISA.

Is Monzo or Revolut safer?

Both are now equally protected for everyday deposits. Monzo has been a fully licensed UK bank for years, with eligible deposits covered by the FSCS up to £120,000.

Revolut received its full UK banking licence in March 2026, and eligible deposits with Revolut Bank UK Ltd are now FSCS protected up to £120,000 as well, according to Revolut. Two caveats apply:

• Revolut says some existing accounts are still being moved across from e-money accounts in stages. Those are safeguarded, not FSCS protected, until they move.
• Crypto, stocks and commodities at Revolut are not FSCS protected.

Verdict: a draw for cash in the bank, with Monzo ahead on track record.

Monzo vs Revolut: which should you choose?

Choose based on what you need the account to do. This is the simplest way to decide:

The best answer for most people is both. They're free, you can open each in minutes, and they work well together. Use Monzo for salary and bills, and Revolut as your spending and travel card to earn RevPoints. This set-up also spreads your cash across two separately protected banks.

Take Action: Open a Monzo account and a Revolut account. Both have referral rewards for new customers, and Monzo's current reward odds are in our Monzo referral bonus guide. If you'd rather get a bigger cash bonus for switching your main account, check our bank switching offers first.

FAQ

Is Monzo better than Revolut?

Monzo is better as a main UK current account, because of its budgeting tools and top-rated service. It ranked first in Great Britain in the August 2026 CMA survey. Revolut is better for travel, currency exchange and rewards. Many people use both: Monzo for bills and Revolut for spending.

Is Revolut now FSCS protected?

Yes. Revolut received its full UK banking licence in March 2026, so eligible deposits with Revolut Bank UK Ltd are protected by the FSCS up to £120,000 per person. Some older accounts are still moving across from e-money accounts in stages, and crypto and investments are not FSCS protected.

Can I have both Monzo and Revolut?

Yes. There's nothing stopping you holding both, and both free accounts take a few minutes to open. A common set-up is Monzo for your salary and bills, and Revolut for spending and travel. Each bank's FSCS protection applies separately, up to £120,000 per person.

Which is better abroad, Monzo or Revolut?

Revolut is usually better abroad. It lets you hold and exchange currencies in advance, and Premium and above have no weekday exchange limits or weekend fees. Monzo charges no fees on card spending abroad, which is fine for occasional trips. Both give £200 of free cash withdrawals a month on their free plans.

Do Monzo and Revolut both include Uber One?

Yes. Monzo includes annual Uber One on its Perks (£9 a month) and Max plans. Revolut includes Uber One on Premium (£8.99), Metal and Ultra. On Revolut Premium it's only for people who've never had Uber One, while Metal and Ultra include it regardless.

The bottom line

Monzo is the better everyday bank, and Revolut is the better travel and rewards card. Since both are free and FSCS protected, you don't have to choose. Opening both gives you the best of each and spreads your savings across two banks.

If you're paying for a plan, look closely at the perks you'd really use: Monzo Perks for a Railcard and no lock-in, or Revolut Premium for its apps and faster RevPoints. Once your accounts are set up, our UK Budget Planner gives you a simple monthly plan to run them with.