Monzo vs Mukuru.
Monzo (M78/100) and Mukuru (M63/100), 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 Mukuru 4-2.
| M Monzo №08 · Central Bank of Ireland 78 /100 | M Mukuru №46 · FCA 63 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 63 /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 | E-money inst. FCA |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | Safeguarded ZA.CODI |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 7 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 4.6 |
| 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 Mukuru if…
Pan-African remittance + financial-services platform — operates across Southern Africa + UK. ~14M users. Mauritius FSC-licensed parent. Cash-out via 100K+ Mukuru agents — physical reach is the structural differentiator. The other half of the pan-African angle alongside Chipper Cash.
- Best for fees Monzo won 1 of 4
- Best for protection Monzo won 2 of 2
- Best for reach Mukuru won 1 of 3
- Best for ux Mukuru won 1 of 2
Monzo vs Mukuru — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Mukuru?
Under our v3 methodology, Monzo leads Mukuru 4–2 across 12 dimensions. Composite scores: Monzo 78/100 vs Mukuru 63/100. 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 Mukuru cheaper?
Monthly fee — Monzo: €0; Mukuru: €0. Card FX markup — Monzo: Interbank; Mukuru: 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 Mukuru?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Mukuru holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. Monzo is the stronger pick on regulatory protection.
Where can I use Monzo and Mukuru?
Monzo operates in 2 countries; Mukuru operates in 7 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.