Monzo vs Tonik.
Monzo (M78/100) and Tonik (T53/100), 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 Tonik 5-1.
| M Monzo №08 · Central Bank of Ireland 78 /100 | T Tonik №62 · BSP 53 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 53 /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. BSP |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | Safeguarded PH.PDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | — | 4.5 ★ iOS 4.6 · 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 Tonik if…
First holder of one of the 6 BSP digital-bank licences. Headline 6.0% APY on Stash savings is among the highest in PH retail banking — the structural inflation hedge for PHP holders. PDIC-insured, BSP-supervised — fully chartered, not partner-bank.
- 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 Tonik won 1 of 2
Monzo vs Tonik — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Tonik?
Under our v3 methodology, Monzo leads Tonik 5–1 across 12 dimensions. Composite scores: Monzo 78/100 vs Tonik 53/100. 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 Tonik cheaper?
Monthly fee — Monzo: €0; Tonik: €0. Card FX markup — Monzo: Interbank; Tonik: 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 Tonik?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Tonik holds a Payment inst. licence under BSP; deposit guarantee per depositor: Safeguarded. Monzo is the stronger pick on regulatory protection.
Where can I use Monzo and Tonik?
Monzo operates in 2 countries; Tonik 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.