Memo Bank vs Bank Zero.
Memo Bank (M72/100) and Bank Zero (B50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Memo Bank leads Bank Zero 5-1.
| B Bank Zero №74 · SARB 50 /100 | M Memo Bank №31 · ACPR 72 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 50 /100 | 72 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €449 /mo |
| FX markup Debit card abroad | 2.00% | 0.50% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | Full bank ACPR |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | €100,000 EU.DGS.FR |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 4.6 ★ 0k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.5 ★ iOS 4.5 · And 4.4 |
| Read review → | Read review → | |
Pick Bank Zero if…
South Africa's first fully-digital mutual bank — SARB-licensed since 2018, operationally live since 2021. Founded by ex-FNB executives (Yatin Narsai, Michael Jordaan). Owner-operator model: no shareholders, profits flow back to depositors via lower fees and competitive sub-account interest. The fee-free counterpart to Discovery Bank's premium tier-based model.
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
- Best for fees Tied
- Best for protection Memo Bank won 2 of 2
- Best for reach Tied
- Best for ux Memo Bank won 1 of 2
Memo Bank vs Bank Zero — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Bank Zero better than Memo Bank?
Under our v3 methodology, Memo Bank leads Bank Zero 5–1 across 12 dimensions. Composite scores: Bank Zero 50/100 vs Memo Bank 72/100. Memo Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Bank Zero or Memo Bank cheaper?
Monthly fee — Bank Zero: €0; Memo Bank: €449. Card FX markup — Bank Zero: 2.00%; Memo Bank: 0.50%. Tied across fee rows. See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Bank Zero or Memo Bank?
Bank Zero holds a Payment inst. licence under SARB; deposit guarantee per depositor: Safeguarded. Memo Bank holds a Full bank licence under ACPR; deposit guarantee per depositor: €100,000. Memo Bank is the stronger pick on regulatory protection.
Where can I use Bank Zero and Memo Bank?
Bank Zero operates in 1 country; Memo Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.