Monzo vs Airwallex.
Monzo (M78/100) and Airwallex (A77/100), 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 Airwallex 4-3.
| A Airwallex №14 · FCA 77 /100 | M Monzo №08 · Central Bank of Ireland 78 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 78 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 0.40% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | €200 /mo |
| Protection | ||
| Banking licence Tier | Partner-bank FCA | Full bank Central Bank of Ireland |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | €100,000 EU.DGS.IE |
| Reach | ||
| Markets served Licensed jurisdictions | 50 countries | 2 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 5k reviews | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | — |
| Read review → | Read review → | |
Pick Airwallex if…
The global multi-currency payments and operating-account platform with the broadest footprint in the SMB category — 23 currencies, local accounts in 10+ jurisdictions, local-account receiving in 60+ countries, multi-jurisdiction licensing (AU AFSL + MAS MPI + HKMA MSO + FCA EMI + US state money-transmitter), volume-based FX pricing, and issuing API for embedded card programmes. Structurally the most comprehensive cross-border AP / AR platform in the category, sitting between Wise Business (consumer-and-SMB cross-border) and Stripe (acquiring + payments) in the global-SMB stack. The embedded-finance API is the structural moat versus Aspire and Wise Business — marketplaces and SaaS platforms build payouts and card-issuing on Airwallex infrastructure rather than running multiple regional bank relationships.
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 1 of 2
- Best for reach Airwallex won 1 of 3
- Best for ux Airwallex won 2 of 2
Monzo vs Airwallex — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than Monzo?
Under our v3 methodology, Monzo leads Airwallex 4–3 across 12 dimensions. Composite scores: Airwallex 77/100 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 Airwallex or Monzo cheaper?
Monthly fee — Airwallex: €0; Monzo: €0. Card FX markup — Airwallex: 0.40%; 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, Airwallex or Monzo?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. 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 Airwallex and Monzo?
Airwallex operates in 50 countries; 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?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.