Memo Bank vs Mukuru.
Memo Bank (M72/100) and Mukuru (M63/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| M Memo Bank №31 · ACPR 72 /100 | M Mukuru №47 · FCA 63 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 72 /100 | 63 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank ACPR | E-money inst. FCA |
| Deposit guarantee Per depositor | €100,000 EU.DGS.FR | Safeguarded ZA.CODI |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 7 countries |
| 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 4.6 |
| Read review → | Read review → | |
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.
Pick Mukuru if…
Pan-African remittance + financial-services platform — operates across Southern Africa + UK. ~14M users. Mauritius FSC-licensed parent. Cash-out via 100K+ Mukuru agents — physical reach is the structural differentiator. The other half of the pan-African angle alongside Chipper Cash.
- Best for fees Mukuru won 2 of 4
- Best for protection Memo Bank won 2 of 2
- Best for reach Mukuru won 1 of 3
- Best for ux Tied
Memo Bank vs Mukuru — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Mukuru?
Memo Bank and Mukuru are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: Memo Bank 72/100 vs Mukuru 63/100. The right pick depends on which dimension you weight most heavily.
Is Memo Bank or Mukuru cheaper?
Monthly fee — Memo Bank: €449; Mukuru: €0. Card FX markup — Memo Bank: 0.50%; Mukuru: Interbank. Mukuru 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, Memo Bank or Mukuru?
Memo Bank holds a Full bank licence under ACPR; deposit guarantee per depositor: €100,000. Mukuru holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. Memo Bank is the stronger pick on regulatory protection.
Where can I use Memo Bank and Mukuru?
Memo Bank operates in 1 country; Mukuru operates in 7 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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