Monzo vs Bank Zero.
Monzo (M78/100) and Bank Zero (B50/100), 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 Bank Zero 6-1.
| B Bank Zero №75 · SARB 50 /100 | M Monzo №08 · Central Bank of Ireland 78 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 50 /100 | 78 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 2.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | €200 /mo |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | Full bank Central Bank of Ireland |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | €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 | 4.5 ★ iOS 4.5 · And 4.4 | — |
| Read review → | Read review → | |
Pick Bank Zero if…
South Africa's first fully-digital mutual bank — SARB-licensed since 2018, operationally live since 2021. Founded by ex-FNB executives (Yatin Narsai, Michael Jordaan). Owner-operator model: no shareholders, profits flow back to depositors via lower fees and competitive sub-account interest. The fee-free counterpart to Discovery Bank's premium tier-based model.
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 Bank Zero won 1 of 2
Monzo vs Bank Zero — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Bank Zero better than Monzo?
Under our v3 methodology, Monzo leads Bank Zero 6–1 across 12 dimensions. Composite scores: Bank Zero 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 Bank Zero or Monzo cheaper?
Monthly fee — Bank Zero: €0; Monzo: €0. Card FX markup — Bank Zero: 2.00%; 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, Bank Zero or Monzo?
Bank Zero holds a Payment inst. licence under SARB; 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 Bank Zero and Monzo?
Bank Zero 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?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.