Monzo vs Novo.
Monzo (M78/100) and Novo (N72/100), 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 Novo 4-3.
| M Monzo №08 · Central Bank of Ireland 78 /100 | N Novo №28 · FDIC 72 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 72 /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 | Partner-bank FDIC |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 3.0 ★ 1k reviews |
| App store iOS + Android avg | — | 4.7 ★ iOS 4.8 · And 4.5 |
| 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 Novo if…
The integration-first US business neobank. Boost is the structural feature: Stripe and Square payouts arrive 1-2 business days earlier than at any competitor, which materially shifts cash-flow timing for e-commerce sellers and agencies invoicing on net-30. The third-party app marketplace (~11+ named integrations including Wise for cross-border) is deeper than Bluevine, Mercury, or Found, and Middlesex Federal Savings has been the continuous sponsor bank since launch — uncommon stability in BaaS. Trade-off: $250K single-bank FDIC ceiling (no sweep), no yield product, and weaker multi-user permissions than Relay.
- Best for fees Monzo won 1 of 4
- Best for protection Tied
- Best for reach Monzo won 1 of 3
- Best for ux Novo won 2 of 2
Monzo vs Novo — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Novo?
Under our v3 methodology, Monzo leads Novo 4–3 across 12 dimensions. Composite scores: Monzo 78/100 vs Novo 72/100. 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 Novo cheaper?
Monthly fee — Monzo: €0; Novo: €0. Card FX markup — Monzo: Interbank; Novo: 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 Novo?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Novo holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. Both score equally on regulatory protection rows.
Where can I use Monzo and Novo?
Monzo operates in 2 countries; Novo 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.