Best Digital Bank
Leading UK digital bank with smart budgeting features, instant notifications, and fee-free spending abroad. Free and paid tiers.
Monzo is the UK's most popular digital bank with over 9 million customers. Known for its distinctive coral card and pioneering app features, Monzo has evolved from a spending card into a comprehensive banking platform.
| Plan | Monthly Cost | Key Features |
|---|---|---|
| Personal | £0 | Core banking, pots, spending insights |
| Monzo Plus | £5 | Credit tracking, custom categories, virtual cards |
| Monzo Premium | £15 | Travel insurance, phone insurance, 1% cashback |
Salary Sorting — automatically split your salary into pots for bills, savings, and spending the moment it arrives. This is budgeting on autopilot.
Bill Splitting — the best in any UK banking app. Split any transaction with friends, track who owes what, and send payment requests.
Spending Insights — automatic categorisation shows exactly where your money goes each month with trends over time.
Monzo offers Savings Pots powered by partner banks, offering both easy-access and fixed-rate options with FSCS protection through the partner bank. Rates are competitive and you can open them instantly within the app.
Monzo is the best choice if you want smart budgeting and social money features built into your bank account. The free tier is excellent for everyday banking. Whether you need Plus or Premium depends on whether the extras justify the monthly cost — for most people, the free account does the job.