Money & Budgeting

Online and Digital Banks UK — Monzo, Starling, Revolut + More Compared

Compare UK digital banks including Monzo, Starling, Revolut, and Chase. Features, fees, pros, cons, and which is best for your needs.

By PocketWise · · Last reviewed: · 3 min read

Digital banks have transformed UK banking — offering instant notifications, clever budgeting tools, fee-free foreign spending, and slick mobile apps. Here is how the main players compare.

Quick Comparison

Bank FSCS Protected Foreign Fees Savings Cashback Joint Account
Starling ✅ None 3.25%+ No Yes
Monzo ✅ None (weekend markup) 4%+ (paid plan) No (free) Yes
Chase ✅ None 3.5%+ 1% No
Revolut ✅ None (limits apply) 3.5%+ Yes (paid plans) No

Detailed Breakdown

Starling Bank

Feature Detail
FSCS protection Yes (£85,000)
Monthly fee None
Foreign spending Free (no fees, Mastercard rate)
ATM withdrawals abroad Free
Overdraft 15–35% EAR (competitive)
Savings Spaces with competitive interest
Joint accounts Yes
Business account Yes (excellent)
Budgeting Spaces (saving pots), spending insights
Best for Main account, self-employed, those who travel

Pros: Excellent all-rounder, competitive overdraft, great business account, truly free foreign use. Cons: No cashback, savings rates not the highest.

Monzo

Feature Detail
FSCS protection Yes (£85,000)
Monthly fee None (free) / £5 or £15 (Plus/Premium)
Foreign spending Free (weekday Mastercard rate; 0.5% weekend markup)
ATM withdrawals abroad £200/month free, then 3%
Overdraft 39.9% EAR
Savings Pots with 4%+ (paid plans better)
Joint accounts Yes
Business account Yes
Budgeting Salary sorting, pots, categories, trends
Best for Budgeting obsessives, those who love app features

Pros: Best budgeting features, vibrant community, instant notifications, easy bill splitting. Cons: Overdraft expensive, premium features cost extra, weekend currency markup.

Chase

Feature Detail
FSCS protection Yes (£85,000)
Monthly fee None
Foreign spending Free (no fees, Mastercard rate)
ATM withdrawals abroad Free
Overdraft Not currently offered
Savings Linked saver at 3.5%+
Cashback 1% on card spending (uncapped year 1, then categories)
Joint accounts No
Business account No
Budgeting Round-ups
Best for Cashback earners, savers, those wanting simplicity

Pros: 1% cashback is generous, good savings rate, no fees anywhere. Cons: No joint account, no overdraft, fewer features than Monzo/Starling.

Revolut

Feature Detail
FSCS protection Yes (UK banking licence granted)
Monthly fee Free / £7.99 (Plus) / £13.99 (Premium) / £45 (Metal)
Foreign spending Free (limits on free plan; unlimited on paid)
ATM withdrawals abroad Limited free (varies by plan)
Overdraft Not offered
Savings Vaults with competitive rates
Multi-currency 30+ currencies at interbank rate
Trading Stocks and crypto (limited on free plan)
Business account Yes
Best for Frequent travellers, multi-currency needs, trading

Pros: Best for travel and multi-currency, stock/crypto trading, premium cards. Cons: Free plan has limits, not ideal as a main account, complex pricing.

Feature Comparison

Budgeting Features

Feature Starling Monzo Chase Revolut
Spending categories ✅ ✅ ✅ ✅
Saving pots/spaces ✅ ✅ ✅ ✅
Salary sorting ❌ ✅ ❌ ✅
Round-ups ✅ ✅ ✅ ✅
Bills tracking ✅ ✅ ✅ ✅
Spending insights ✅ ✅ ✅ ✅

Practical Features

Feature Starling Monzo Chase Revolut
Apple Pay / Google Pay ✅ ✅ ✅ ✅
Instant notifications ✅ ✅ ✅ ✅
In-app card freeze ✅ ✅ ✅ ✅
Virtual cards ✅ ✅ (paid) ❌ ✅
Joint accounts ✅ ✅ ❌ ❌
Business accounts ✅ ✅ ❌ ✅
Cash deposits Post Office PayPoint Varies ❌
Cheques ✅ (via app) ✅ (via app) ❌ ❌

Which Should You Choose?

Your Priority Best Choice
All-round main account Starling
Budgeting and pots Monzo
Cashback Chase
Travel and multi-currency Revolut
Joint account Starling or Monzo
Business banking Starling (best reviews)
Self-employed Starling
Teen/child account GoHenry, Starling Kite, or Revolut Junior

Multiple Apps Strategy

Many people use more than one digital bank:

Setup Why
Starling (main) + Chase (cashback) Best of both worlds
Monzo (budgeting) + Revolut (travel) Great for holidays
Traditional bank + Starling Branch access when needed + digital benefits

Security Tips

Tip Why
Enable biometric login Fingerprint/face ID for security
Set spending limits In-app controls
Enable instant notifications Spot fraud immediately
Use virtual cards for online shopping Protect your main card
Freeze card when not in use Extra security

For more on finding the right account, see our best current accounts guide and bank switching guide.

Sources

  1. MoneyHelper — Everyday money