Monese and Revolut are top names in digital banking, changing how we manage money. Our guide compares their features, services, and costs. We help you choose the best mobile banking for your needs.
Monese started in 2015 and is easy to use. You can open an account quickly, no need for an address or credit check. On the other hand, Revolut has over 25 million users. It offers travel benefits, savings tools, and a budget app.
Overview: Monese and Revolut
Monese and Revolut lead the fintech revolution, bringing new financial apps to users worldwide. They offer a fresh way to manage money, unlike traditional banks. With just a smartphone, users can easily handle their finances.
These platforms let users set up accounts quickly, without visiting a bank. They provide features like international money transfers and budgeting tools. This makes them a great alternative to old-school banking.
When we compare Revolut vs Monese, we see differences in their services and fees. Revolut won 5 out of 5 stars in Finder’s 2023 Banking Awards, with 89% of users recommending it. Monese scored 4 out of 5 stars, with 74% of users saying they would recommend it.
Both have high Trustpilot scores. Revolut has 4.2 out of 5 from over 167,000 reviews. Monese also has 4.2 out of 5 from over 44,000 reviews as of November 2024. These scores show their trustworthiness.
Revolut has more customers, with 28 million and 6,000 employees worldwide. Monese has 2 million customers and 250 employees in Europe. Revolut supports over 30 currencies, making it better for global transactions.
| Criteria | Monese | Revolut |
|---|---|---|
| Trust & Credibility | 7.6 | 8.9 |
| Service & Quality | 9.0 | 7.9 |
| Fees & Exchange Rates | 6.6 | 8.3 |
| Customer Satisfaction | 8.4 | 9.3 |
| ATM Withdrawals | €1.5/£1.5 /L5 per transaction | Over £200 or equivalent/month: 2% |
| Online Spending | 2% on non-GBP, EUR, SEK, and RON transactions | No cost for ordinary transactions |
| International Spending | 2% fee on non-GBP, EUR, SEK, and RON transactions, plus additional charges | Low fees with minor conversion fees and weekend surcharges |
Accounts and Features
When comparing Monese services with Revolut account plans, both platforms offer a variety of account types comparison. Monese has three account tiers: Simple, Classic, and Premium. These focus on international transfers and budget management. Users get lower currency exchange fees and accounts in GBP, EUR, and RON.
Revolut has four levels: Standard, Plus, Premium, and Metal. Each tier includes features like fee-free withdrawals at over 55,000 ATMs worldwide. Users also get better interest rates, increased withdrawal limits, investment options, and access to more currencies. Revolut is great for international travelers and businesses needing full fintech benefits.
| Account Feature | Monese | Revolut |
|---|---|---|
| Account Tiers | Simple, Classic, Premium | Standard, Plus, Premium, Metal |
| Currency Support | GBP, EUR, RON | Multiple including GBP, EUR, USD, AUD |
| International Transfers | Low-cost | 160+ countries |
| ATM Withdrawals | Fee-free up to set limits | Fee-free at 55,000+ ATMs worldwide |
| Budget Management | Yes, with spending caps | Yes, plus extensive financial tools |
| Investment Options | No | Yes, varied options |
Both Monese and Revolut make managing personal finances easy. They offer quick account setup and a wide range of digital bank features. This account types comparison helps users choose the best platform for their needs. The differences between Monese and Revolut show the unique fintech benefits each offers.
Guide to Monese vs Revolut: Costs and Fees
It’s key to know the costs of Monese and Revolut before choosing. We’ll look at their fees and find the best banking deals for you.
Both Monese and Revolut offer free basic accounts. But, their fees for things like ATM withdrawals and card delivery differ a lot.
Monese has three main account types:
- Simple (Free)
- Classic (£7.95/month)
- Premium (£14.95/month)
Simple accounts have a 2% fee for spending abroad. Classic accounts charge 0.5%. Premium accounts have no fees for foreign transactions. There’s also a £2.50 monthly fee for the Credit Builder feature and a £40,000 limit on GBP accounts.
Revolut’s fees are more complex. Their free account lets you withdraw up to €200 a month without fees. But, you’ll pay a 2% fee after that. Their higher plans offer more benefits like travel insurance and priority support.
Here’s a clear look at their monthly fees and extra charges:
| Fee Type | Monese | Revolut |
|---|---|---|
| Standard Account | Free | Free |
| ATM Withdrawals | Free up to £200/month, then 2% | Free up to €200/month, then 2% |
| Foreign Transaction Fees | 2% (Simple), 0.5% (Classic), Free (Premium) | Varies by plan; 0.5%-2% |
| Premium Account Monthly Fee | £14.95 | €13.99 |
Both platforms offer special features. Monese’s paid plans are simpler and cheaper. Revolut’s complex fees might appeal to those wanting lots of perks.
For more on euro accounts in the UK, check out this guide: Best Euro Account in the UK. It talks about customer satisfaction and what you need to open an account.
Security and Support
Revolut and Monese focus on keeping mobile banking safe. They use advanced security like biometric and two-factor authentication. This protects your data.
They also let you freeze lost or stolen cards instantly in the app. This adds extra security. Plus, they keep your money safe by separating it from others.
Both services offer great support through their apps. This makes it easy to solve problems quickly. Monese has multilingual support and real-time updates. Revolut helps with fast international transfers and many financial products.
To learn more, check out the comparison guide on Wise. It compares Monese and Revolut. For more on digital banking in Europe, see FXpal. These guides help you choose the best digital banking option.
