Monzo vs Nequi.
Monzo (M78/100) and Nequi (N75/100), 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 Nequi 4-2.
| M Monzo №08 · Central Bank of Ireland 78 /100 | N Nequi №20 · Full Colombian banking licence via Bancolombia parent 75 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 75 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | 3.00% |
| 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 | Full bank |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | €50,000,000 CO.FOGAFIN |
| 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 4.5 · And 4.4 |
| 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 Nequi if…
Bancolombia's digital banking arm — Colombia's largest neobank by user count (~17M). Operates under the Bancolombia full-bank licence; FOGAFIN cover applies. Mass-market reach + Bancolombia ATM network. The default Colombian neobank for COP-resident readers.
- Best for fees Monzo won 2 of 4
- Best for protection Nequi won 1 of 2
- Best for reach Monzo won 1 of 3
- Best for ux Nequi won 1 of 2
Monzo vs Nequi — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Nequi?
Under our v3 methodology, Monzo leads Nequi 4–2 across 12 dimensions. Composite scores: Monzo 78/100 vs Nequi 75/100. 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 Nequi cheaper?
Monthly fee — Monzo: €0; Nequi: €0. Card FX markup — Monzo: Interbank; Nequi: 3.00%. 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, Monzo or Nequi?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Nequi holds a Full bank licence under Full Colombian banking licence via Bancolombia parent (Superintendencia Financiera de Colombia regulated); FOGAFIN member, COP 50,000,000 cover per depositor. // TODO(verify).; deposit guarantee per depositor: €50,000,000. Nequi is the stronger pick on regulatory protection.
Where can I use Monzo and Nequi?
Monzo operates in 2 countries; Nequi 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.