Monzo vs Up Bank.
Monzo (M78/100) and Up Bank (U55/100), 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 Up Bank 5-2.
| M Monzo №08 · Central Bank of Ireland 78 /100 | U Up Bank №60 · PRA 55 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 55 /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 | Payment inst. PRA |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | Safeguarded AU.FCS |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 4.0 ★ 2k reviews |
| App store iOS + Android avg | — | 4.8 ★ iOS 4.8 · And 4.7 |
| 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 Up Bank if…
Australian neobank built on top of Bendigo and Adelaide Bank's APRA-regulated charter — direct FCS AUD 250,000 cover via the parent. Strongest Australian neobank UX for under-35 consumers; budgeting and pay-day forecasting are best-in-class. No FX markup makes it travel-friendly.
- Best for fees Monzo won 1 of 4
- Best for protection Monzo won 2 of 2
- Best for reach Monzo won 1 of 3
- Best for ux Up Bank won 2 of 2
Monzo vs Up Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Up Bank?
Under our v3 methodology, Monzo leads Up Bank 5–2 across 12 dimensions. Composite scores: Monzo 78/100 vs Up Bank 55/100. 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 Up Bank cheaper?
Monthly fee — Monzo: €0; Up Bank: €0. Card FX markup — Monzo: Interbank; Up 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 Up Bank?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Up Bank holds a Payment inst. licence under PRA; deposit guarantee per depositor: Safeguarded. Monzo is the stronger pick on regulatory protection.
Where can I use Monzo and Up Bank?
Monzo operates in 2 countries; Up 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.