Monzo vs Memo Bank.
Monzo (M78/100) and Memo Bank (M56/100), 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 Memo Bank 7-2.
| M Memo Bank №59 · ACPR 56 /100 | M Monzo №08 · Central Bank of Ireland 78 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 56 /100 | 78 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | €200 /mo |
| Protection | ||
| Banking licence Tier | E-money inst. ACPR | Full bank Central Bank of Ireland |
| Deposit guarantee Per depositor | Safeguarded EU.DGS.FR | €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 | 4.6 ★ 0k reviews | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | — |
| Read review → | Read review → | |
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
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 3 of 4
- Best for protection Monzo won 2 of 2
- Best for reach Monzo won 1 of 3
- Best for ux Memo Bank won 2 of 2
Monzo vs Memo Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Monzo?
Under our v3 methodology, Monzo leads Memo Bank 7–2 across 12 dimensions. Composite scores: Memo Bank 56/100 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 Memo Bank or Monzo cheaper?
Monthly fee — Memo Bank: €449; Monzo: €0. Card FX markup — Memo Bank: 0.50%; Monzo: Interbank. Monzo wins more fee rows (3 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Memo Bank or Monzo?
Memo Bank holds a E-money inst. licence under ACPR; 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 Memo Bank and Monzo?
Memo Bank 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.