Monzo vs Opay.
Monzo (M78/100) and Opay (O58/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| M Monzo №08 · Central Bank of Ireland 78 /100 | O Opay №54 · CBN 58 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 78 /100 | 58 /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. CBN |
| Deposit guarantee Per depositor | €100,000 EU.DGS.IE | Safeguarded NG.NDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 5 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | — | 1.5 ★ 5k reviews |
| App store iOS + Android avg | — | 4.5 ★ iOS 4.4 · 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 Opay if…
Largest Nigerian mobile-money + neobank hybrid by user count (~50M+). Saudi Aramco-affiliated investor backed. OBank subsidiary holds the bank licence; OPay wallet sits on top. Aggressive cross-EM expansion (Egypt, Pakistan announced). The Nigerian mobile-money rail leader.
- Best for fees Monzo won 1 of 4
- Best for protection Monzo won 2 of 2
- Best for reach Opay won 2 of 3
- Best for ux Opay won 2 of 2
Monzo vs Opay — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Monzo better than Opay?
Monzo and Opay are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: Monzo 78/100 vs Opay 58/100. The right pick depends on which dimension you weight most heavily.
Is Monzo or Opay cheaper?
Monthly fee — Monzo: €0; Opay: €0. Card FX markup — Monzo: Interbank; Opay: 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 Opay?
Monzo holds a Full bank licence under Central Bank of Ireland; deposit guarantee per depositor: €100,000. Opay holds a E-money inst. licence under CBN; deposit guarantee per depositor: Safeguarded. Monzo is the stronger pick on regulatory protection.
Where can I use Monzo and Opay?
Monzo operates in 2 countries; Opay operates in 5 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.