Money & Budgeting

Monzo vs Starling vs Revolut — Which Digital Bank Is Best?

Head-to-head comparison of Monzo, Starling, and Revolut. We compare fees, features, safety, foreign spending, and help you choose the right app for your needs.

By PocketWise · · 4 min read

Three apps. All claim to do banking better. Here’s an honest breakdown of how they actually compare.

Quick Verdict

Best For Winner
Budgeting Monzo
Interest on balance Starling
Foreign exchange Revolut
Cash deposits Starling
Safety/protection Monzo or Starling (tie)
Customer service Starling
Feature breadth Revolut
Business banking Starling
Overall main bank Starling (slight edge)

The Fundamentals

Feature Monzo Starling Revolut
UK banking licence ✅ Yes ✅ Yes ❌ No (e-money)
FSCS protection ✅ £85,000 ✅ £85,000 ❌ No
Monthly fee Free Free Free (paid tiers exist)
Debit card Mastercard Mastercard Visa
Joint accounts ✅ ✅ ✅
Business accounts ✅ (paid) ✅ (free) ✅

Critical difference: Only Monzo and Starling have full bank protection. Revolut doesn’t — this matters for large balances.

Interest Rates

Feature Monzo Starling Revolut
Interest on balance ❌ (free tier) ✅ Yes ❌
Paid tier interest ✅ (Plus/Premium) N/A ❌
Easy-access savings Via pots Via Spaces Via Vaults

Winner: Starling — earns interest automatically on the free account.

Budgeting and Money Management

Feature Monzo Starling Revolut
Automatic categories ✅ Excellent ✅ Basic ✅ Good
Monthly budgets ✅ Yes ❌ No ✅ Limited
Spending insights ✅ Detailed ✅ Basic ✅ Good
Trends over time ✅ Yes ❌ Limited ✅ Yes
Savings pots/spaces ✅ Pots ✅ Spaces ✅ Vaults
Round-ups ✅ Yes ✅ Yes ✅ Yes
Salary sorter ✅ Yes ❌ No ❌ No
Bills pot ✅ Yes ✅ Yes ❌ No

Winner: Monzo — by a clear margin for anyone wanting to track and control spending.

Foreign Spending

Feature Monzo Starling Revolut
Exchange rate Mastercard rate Mastercard rate Interbank (best)
Fee on spending None None None
Weekend markup No No 0.5-1%
Foreign ATM free £200/month Unlimited £200/month (free tier)

Winner: Revolut for best rates, Starling for unlimited ATM.

Example: £1,000 Spent Abroad

Platform Rate Applied You Pay
Revolut (weekday) Interbank ~£1,000
Monzo Mastercard (+0.5%) ~£1,005
Starling Mastercard (+0.5%) ~£1,005
High street bank +3-5% ~£1,030-50

All three are excellent; Revolut is marginally best.

Cash Handling

Feature Monzo Starling Revolut
Cash deposits ✅ (PayPoint) ✅ (Post Office) ❌ No
Deposit fee £1 per deposit Free N/A
Deposit limit £300/day £1,000/day N/A
UK ATM free £250/month Unlimited £200/month

Winner: Starling — free deposits at Post Office, unlimited ATM withdrawals.

Customer Service

Feature Monzo Starling Revolut
In-app chat ✅ 24/7 ✅ 24/7 ✅ (can be slow)
Phone support ❌ Limited ✅ Available ❌ (Premium only)
Response time Fast Fast Variable
Awards Good Best (Which?) Weakest

Winner: Starling — consistently wins customer service awards.

App Quality

Feature Monzo Starling Revolut
Design ★★★★★ ★★★★★ ★★★★☆
Ease of use Excellent Excellent Good
Features Many Core focused Most
Speed Fast Fast Fast
Reliability Good Excellent Good

Winner: Tie between Monzo and Starling — both excellent.

Extra Features

Feature Monzo Starling Revolut
Bill splitting ✅ ❌ ✅
‘Get Paid Early’ ✅ ❌ ❌
Crypto buying ❌ ❌ ✅
Stock trading ❌ ❌ ✅
Multi-currency ❌ ❌ ✅
Virtual cards ✅ ✅ ✅
Gambling block ✅ ✅ ✅
BNPL (Flex) ✅ ❌ ❌

Winner: Revolut — most features (but not all are needed).

Monzo

Tier Cost Key Benefits
Free £0 Core banking
Plus £5/month Interest, custom categories
Premium £15/month Insurance, lounge access

Starling

Tier Cost Key Benefits
Free £0 Everything (no paid tier)

Revolut

Tier Cost Key Benefits
Standard £0 Basic limits
Plus £3.99/month More features
Premium £7.99/month Insurance, unlimited FX
Metal £14.99/month Cashback, concierge

Winner: Starling — no paid tier needed for anything.

Business Accounts

Feature Monzo Starling Revolut
Available ✅ ✅ ✅
Monthly fee £5+ Free (sole trader) Varies
Free features Limited Full Limited
Integrations Basic Excellent Good

Winner: Starling — free business banking is rare.

Safety Summary

Factor Monzo Starling Revolut
Licence type Full UK bank Full UK bank E-money
FSCS protection ✅ £85,000 ✅ £85,000 ❌ None
If company fails You’re protected You’re protected You’re a creditor
For large savings Safe Safe Not recommended

Winner: Monzo/Starling tie — both properly protected.

Which Should You Choose?

Choose Monzo If:

You Want Why Monzo
Best budgeting tools Unmatched spending analysis
Salary sorting Automatic on payday
Bill splitting Built in
Colourful card It’s iconic
Get paid early If employer supports

Choose Starling If:

You Want Why Starling
Interest on balance Automatic, no paid tier
Free cash deposits Post Office, free
Unlimited ATM No UK limits
Best customer service Award-winning
Free business account Actually free
No-frills reliability Just works

Choose Revolut If:

You Want Why Revolut
Best FX rates Interbank exchange
Multi-currency living Hold 30+ currencies
International transfers Cheap and fast
Extra features Stocks, crypto
Not as main bank Secondary spending account

The Optimal Setup

Many people use multiple accounts:

Account Use For
Starling or Monzo Main bank (FSCS protected)
Revolut Travel spending, FX
Starling Cash deposits if needed

Quick Reference Table

Category Best Choice
Overall main bank Starling
Budgeting focus Monzo
Travel/FX Revolut
Cash users Starling
Safety-first Starling or Monzo
Feature maximiser Revolut
Business (free) Starling
Customer service Starling

Sources

  1. MoneyHelper — Everyday money