Monzo vs ila Bank.
Monzo (M78/100) and ila Bank (i50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Monzo leads ila Bank 6-1.
| i ila Bank №74 · ila Bank is the digital retail brand of Bank of Bahrain and Kuwait 50 /100 | M Monzo №08 · Central Bank of Ireland 78 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 51 /100 | 78 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 1.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | €200 /mo |
| Protection | ||
| Banking licence Tier | Payment inst. | Full bank Central Bank of Ireland |
| Deposit guarantee Per depositor | Safeguarded BH.DCS | €100,000 EU.DGS.IE |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 2 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.2 ★ iOS 4.3 · And 4.1 | — |
| Read review → | Read review → | |
Pick ila Bank if…
Digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C., Bahrain Bourse: BBK) — one of the GCC's oldest commercial banks (founded 1971). Launched November 2019 as Bahrain's first fully-digital retail bank. CBB Conventional Retail Bank licence sits at the BBK parent; ila is a brand inside that charter, not a separately licensed entity. Bahrain DPS cover BHD 20,000 per depositor flows via the parent licence under CBB Rulebook Volume 6. Conventional banking; for Sharia products from the same group, see KFH Bahrain (separately licensed Islamic bank).
Pick Monzo if…
Pick if you bank in the UK or Ireland and value the best budgeting tools in the category.
- Best for fees Monzo won 2 of 4
- Best for protection Monzo won 2 of 2
- Best for reach Monzo won 1 of 3
- Best for ux ila Bank won 1 of 2
Monzo vs ila Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ila Bank better than Monzo?
Under our v3 methodology, Monzo leads ila Bank 6–1 across 12 dimensions. Composite scores: ila Bank 50/100 vs Monzo 78/100. Monzo is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is ila Bank or Monzo cheaper?
Monthly fee — ila Bank: €0; Monzo: €0. Card FX markup — ila Bank: 1.50%; Monzo: Interbank. Monzo wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, ila Bank or Monzo?
ila Bank holds a Payment inst. licence under ila Bank is the digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C.) — CBB Conventional Retail Bank licence held at the BBK parent. CBB Rulebook Volume 6 Deposit Protection Scheme cover up to BHD 20,000 per depositor per institution; ila and BBK aggregate against one ceiling because they are the same legal entity. Verify the current DPS ceiling on cbb.gov.bh.; deposit guarantee per depositor: Safeguarded. Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Monzo is the stronger pick on regulatory protection.
Where can I use ila Bank and Monzo?
ila Bank operates in 1 country; Monzo operates in 2 countries. 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?
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