7 Monzo alternatives for UK banking in 2026
A free Monzo Standard plan was once the default recommendation for any UK current account. The 2024-2025 changes ended that simple story: ATM withdrawal limits abroad now cap fee-free use, FX-free spending has a usage threshold, the Plus and Premium tier ladder runs to £15/month, and several handy features (custom categories, advanced spending insights, virtual cards beyond a small monthly cap) sit behind the paid tiers. UK customers who picked Monzo for “free, simple, modern” are reassessing.
This guide covers seven Monzo alternatives that handle UK current accounts, joint accounts, travel spending, and budgeting. Each pick is matched to the specific situation where it works better than Monzo.
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Quick comparison
| App | Best for | Free plan | Standard cost | Standout feature |
|---|---|---|---|---|
| Starling | UK current account | Yes | Free | No monthly fees on the personal account |
| Revolut | Multi-currency travel | Yes | Free; Premium £8.99/mo | Spend in 150+ currencies |
| Wise | International transfers | Yes | Per-transfer fee | Mid-market FX rate |
| Chase UK | Cashback and savings | Yes | Free | 1% cashback for the first year |
| First Direct | Traditional bank with great support | Yes | Free | 24/7 UK call centre |
| Chip | Saving and investing | Yes | Free; ChipX £4.99/mo | Auto-save habits |
| Plum | Round-ups and investing | Yes | Plus £2.99/mo | Behavioural budgeting |
Why people leave Monzo
Free-plan limits have tightened. Fee-free overseas cash withdrawals are capped at £200 per 30 days, with a 3% fee above that. Card spending abroad remains FX-free up to the standard usage threshold. For users who travel often, the gap between Monzo Standard and Plus or Premium has widened.
Joint accounts lost some of their feature set. Pots, custom categories, and certain budgeting tools were moved into paid tiers in stages during 2024-2025. The shared-finances pitch that drew couples to Monzo no longer arrives entirely free.
Customer support quality is uneven. Live chat answers are often quick, but escalations on more complex issues (declined card abroad, fraud disputes, pension transfers in Monzo’s investments product) get inconsistent responses. The bank no longer publishes a public phone number for general support.
Pots and saving rates moved. Instant Access Pot rates lagged the wider market when the Bank of England held rates high during 2024. The 1-Year Fixed Pot has been competitive at points but is not always at the top of best-buy tables.
Investment and Flex products feel siloed. Monzo Investments and Monzo Flex live inside the same app, but the integration with budgeting and main spending data is shallower than Plum’s or Chip’s. Users who want one app for spending plus investing often find the experience narrower than expected.
[SCREENSHOT: Monzo app showing pot list and budgeting summary]
The best Monzo alternatives
Starling — best for a fully free UK current account
Starling Bank offers a UK current account with no monthly fee, no cash-withdrawal cap abroad, and no fee on card spending in any currency. Joint accounts, Spaces (Starling’s pots equivalent), and bills management are all included for free. Starling holds a full UK banking licence with FSCS protection up to £85,000.
The Connected Card lets a partner or carer spend from a separate balance with no fees, and the Personal account integrates with the Business account in one app. Starling vs Monzo on free-tier value: Starling’s free plan is cleaner because the limits Monzo applies to overseas spending and free FX simply do not exist here.
Where it falls short: Starling does not offer the fine-grained budget categories Monzo Plus does. There is no buy-now-pay-later product. The Investments option uses a third-party partner rather than being native. The user interface is more conservative than Monzo’s, which some users prefer and others find less engaging.
Pricing:
- Free: Personal account, joint account, debit card, Spaces, FX-free spending
- Paid: No personal-tier subscriptions
- vs Monzo: Cleaner free tier, no FX or ATM caps, narrower budgeting feature set
Migrating from Monzo: Use the Current Account Switch Service (CASS) to move direct debits, standing orders, and your salary in seven working days. Starling supports CASS in-app. Holdings inside Monzo Pots will need to be withdrawn before the switch.
Bottom line: The closest direct UK current-account replacement for Monzo without the new free-tier caps. Skip if Monzo’s deeper budgeting categorisation is the main reason you picked it.
Revolut — best for travel and multi-currency
Revolut holds balances in 30+ currencies and lets you spend in 150+ at competitive rates. The free plan includes fee-free FX up to £1,000/month and unlimited Revolut-to-Revolut transfers. Premium and above remove the FX cap entirely.
The travel feature set goes further than Monzo’s: in-app crypto, stocks, lounge access on premium tiers, eSIM data plans, and joint accounts. Revolut vs Monzo on travel: the multi-currency wallet is genuinely cheaper than Monzo Standard once you exceed the £200 fee-free cash threshold or spend extensively abroad.
Where it falls short: Revolut’s automated risk system has a documented record of freezing accounts on patterns it does not recognise. UK eligible deposits are protected (Revolut Bank UK Ltd holds a UK banking licence), but the support reputation on the free plan is uneven. The paid-tier ladder runs to £50/month at the top.
Pricing:
- Free: Standard plan, fee-free FX up to £1,000/month
- Paid: Plus £3.99/month; Premium £8.99/month; Metal £15.99/month; Ultra £50/month
- vs Monzo: Cheaper for multi-currency spending, comparable on UK domestic banking
Migrating from Monzo: Open a Revolut UK current account (with sort code and account number), use CASS to move direct debits, and update your salary deposit details. Existing Monzo pots must be withdrawn separately.
Bottom line: Pick Revolut if you spend overseas regularly. Less ideal as a primary daily account if predictable customer support is a top priority.
Wise — best for international transfers
Wise sends money abroad at the real mid-market exchange rate with a transparent per-transfer fee shown before you confirm. A Wise account includes local bank details in multiple currencies (UK sort code, EU IBAN, US routing number, AU BSB) and a debit card that spends from any of those balances at the mid-market rate.
For freelancers invoicing international clients or anyone sending money to family abroad regularly, Wise is the cheapest mainstream option. Wise vs Monzo on international transfers: a £500 transfer to euros costs around £3 on Wise versus a noticeably worse rate on Monzo Standard’s underlying conversion.
Where it falls short: Wise is not a UK bank, so eligible balances are safeguarded rather than FSCS-protected. There is no overdraft, no UK joint account, and no Pots equivalent. Real-time transaction notifications can lag by a few minutes.
Pricing:
- Free: Account, multi-currency local bank details
- Paid: Per-transfer fees (0.4-2% depending on corridor); debit card around £7 one-time
- vs Monzo: Cheaper for cross-border transfers; not a substitute for a primary UK bank account
Migrating from Monzo: Open a Wise account in 10 minutes, transfer GBP across, and use Wise instead of Monzo for outgoing international payments. Keep Monzo (or Starling) as the primary UK account.
Bottom line: Pair Wise with another current account for international payments. It is a complement to a daily UK account, not a replacement.
Chase UK — best for cashback and round-up savings
Chase UK is the JPMorgan-owned digital bank with a focused product line: a free current account, 1% cashback on debit-card spending for the first year (capped at £15/month), automatic round-up to a savings account, and competitive saver rates that have sat near the top of the best-buy tables in 2024-2025.
The app pairs cleanly with Apple Pay and Google Wallet. There is no monthly fee. Chase UK vs Monzo on the Reward features: the cashback and round-up combination has earned customers more than Monzo’s free-plan equivalents over a typical year.
Where it falls short: Chase UK does not offer joint accounts. There is no overdraft. No Pots-style sub-balances inside the current account itself (the linked saver covers part of that need). The product roadmap added features more slowly than Monzo’s during the launch years, although the gap has narrowed.
Pricing:
- Free: Current account, debit card, saver, round-up
- Paid: None
- vs Monzo: Cashback and saver rates are the wins, narrower feature breadth on budgeting
Migrating from Monzo: Open a Chase UK account, use CASS to switch your salary and direct debits, and link the saver inside the app for round-ups. Monzo joint-account holders will need to keep a separate solution.
Bottom line: Pick Chase if cashback and a competitive saver are the priorities. Skip if joint accounts are a hard requirement.
First Direct — best for traditional banking with strong support
First Direct is HSBC’s UK retail brand with a long-standing reputation for customer service. The free 1st Account includes a 24/7 UK call centre staffed by humans, a £250 fee-free overdraft (subject to status), a £175 switch incentive at points during the year, and a Regular Saver paying a competitive fixed rate on monthly deposits up to £300.
The app is more functional than flashy, but the support reputation is the clear win. First Direct vs Monzo on customer support: a real phone call answered quickly is the main reason people switch back to First Direct from a digital-only bank.
Where it falls short: No Pots equivalent (the linked savings accounts cover some of that need). Budgeting features are basic. The Regular Saver caps deposits at £300/month. The app design feels older than Monzo or Starling.
Pricing:
- Free: 1st Account, app, debit card, 24/7 UK phone support
- Paid: None
- vs Monzo: Better support for complex issues, weaker on in-app budgeting
Migrating from Monzo: Apply for a 1st Account, use CASS to switch direct debits and salary, and the £175 switch bonus pays out after qualifying activity. Joint-account holders can apply jointly.
Bottom line: Strong fit if customer service quality is the priority. Skip if a sleek mobile-first interface is non-negotiable.
Chip — best for saving and investing alongside a current account
Chip is not a current account; it is a savings and investing app that connects to an existing bank via Open Banking and routes money into a high-interest Cash ISA, an Instant Access Saver, and a curated investment range (S&P 500 tracker, ESG fund, Coutts Multi-Asset Funds). The free plan is enough for most casual savers, with Chip Plus and ChipX adding more investment features.
For Monzo users frustrated by Pot rates lagging the market, Chip’s saving rates are usually closer to the top of best-buy tables. Chip vs Monzo on saving: the Cash ISA tracker rate on Chip has consistently sat above Monzo’s headline Pot rate during 2024-2025.
Where it falls short: Chip is not a current account, so it does not replace Monzo for daily spending. There is no debit card. The investment range is curated rather than open. Customer support is in-app chat only.
Pricing:
- Free: Saving and ISA features
- Paid: Chip Plus from £2.99/month; ChipX from £4.99/month for full investment access
- vs Monzo: Better saving and ISA rates, no daily-spending function
Migrating from Monzo: Sign up to Chip, link your existing bank via Open Banking, and move savings out of Monzo Pots. Keep Monzo or another current account for daily spending.
Bottom line: Pair Chip with a free current account (Starling, Chase, or kept Monzo). Skip if you want everything in one app.
Plum — best for round-ups and behavioural budgeting
Plum automatically moves small amounts from your linked current account to a Plum Pocket using behavioural algorithms (“you can probably afford £4.30 today”). The Round Ups feature handles the simpler case of rounding spare change. Plum’s investment side covers funds and US stocks inside an ISA or GIA, with a tier ladder from free up to Ultra.
The savings rates on the Easy Access Interest Pocket and Cash ISA Pocket have been competitive against Monzo’s during 2024-2025. Plum vs Monzo on automation: the behavioural saving feature is genuinely better than Monzo’s “Save the Change” round-up because it adapts to spending patterns.
Where it falls short: Plum is not a current account. The free plan is limited; the most useful features (multiple Pockets, Diverse investments, full ISA) sit on the paid plans. Customer support is in-app chat only. Account opening can take longer than Chip.
Pricing:
- Free: Basic savings and a single Pocket
- Paid: Plus £2.99/month; Pro £4.99/month; Ultra £9.99/month
- vs Monzo: Better automation for saving, no daily-spending function
Migrating from Monzo: Sign up to Plum, link your bank via Open Banking, and let the automation start. Keep Monzo or another current account active.
Bottom line: Use Plum to automate saving alongside a current account. Skip if you want a single all-in-one banking app.
How to choose
Pick Starling for a clean replacement of the Monzo current account with no fee tiers and no overseas spending caps.
Pick Revolut if you spend abroad often and want the cheapest mainstream FX.
Pick Wise to handle international transfers alongside a UK current account elsewhere.
Pick Chase UK for cashback and a competitive saver, if you do not need joint accounts.
Pick First Direct if a 24/7 UK call centre is the deciding factor.
Pick Chip to chase the best UK savings and ISA rates while keeping your existing current account.
Pick Plum if behavioural round-ups and automated saving are the priority.
Stay on Monzo if the deeper budget categorisation, Trends, and Flex inside one app are the reason you started, and the free-plan caps are not biting in practice. The product is still polished; the recent changes simply matter more for some user types than others.
FAQ
Is Monzo a real bank? Yes. Monzo Bank Ltd holds a full UK banking licence and is regulated by the FCA and PRA. Eligible deposits are protected by FSCS up to £85,000.
Can I have a joint account on a Monzo alternative? Starling and First Direct offer free joint accounts. Revolut UK supports joint accounts on certain plans. Chase UK and the savings-only apps (Chip, Plum) do not offer joint current accounts.
What is the cheapest Monzo alternative? Starling, Chase UK, and First Direct are all free for the standard current account. None of them charge for the joint account where it is offered, except Revolut on certain plans.
Can I switch my Monzo direct debits and salary easily? Yes. The Current Account Switch Service (CASS) moves all direct debits, standing orders, and salary deposits in seven working days. It is supported by Starling, Chase UK, First Direct, and Revolut UK.
Why did Monzo make Plus and Premium more expensive? Monzo has steadily moved feature flags from the free plan to Plus (£5/month) and Premium (£15/month) since 2023, and the bank has explained the model as funding the long-term sustainability of the free Standard tier. Whether the trade-off works for any individual user depends on which features matter most.
Are my deposits safe at a digital bank like Monzo? Yes, when the digital bank holds a full UK banking licence. Monzo, Starling, Chase UK, First Direct, and Revolut Bank UK Ltd all do. Eligible deposits are protected by FSCS up to £85,000 per person per banking group.
