Monzo vs Rakuten Bank.
Monzo (M78/100) and Rakuten Bank (R70/100), 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 Rakuten Bank 4-2.
| M Monzo №08 · Central Bank of Ireland 78 /100 | R Rakuten Bank №33 · JFSA 70 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 70 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | €200 /mo | — |
| Protection | ||
| Banking licence Tier | Full bank Central Bank of Ireland | Full bank JFSA |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | Safeguarded No DGS |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | — | 4.3 ★ iOS 4.4 · And 4.2 |
| Read review → | Read review → | |
Pick Monzo if…
Pick if you bank in the UK or Ireland and value the best budgeting tools in the category.
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
- Best for fees Monzo won 1 of 4
- Best for protection Monzo won 1 of 2
- Best for reach Tied
- Best for ux Rakuten Bank won 1 of 2
Monzo vs Rakuten Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Rakuten Bank?
Under our v3 methodology, Monzo leads Rakuten Bank 4–2 across 12 dimensions. Composite scores: Monzo 78/100 vs Rakuten Bank 70/100. Monzo is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Monzo or Rakuten Bank cheaper?
Monthly fee — Monzo: €0; Rakuten Bank: €0. Card FX markup — Monzo: Interbank; Rakuten Bank: Interbank. Monzo wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Monzo or Rakuten Bank?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: Safeguarded. Monzo is the stronger pick on regulatory protection.
Where can I use Monzo and Rakuten Bank?
Monzo operates in 2 countries; Rakuten 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.