Monzo

Editor's Review

Monzo is your award-winning mobile banking solution, designed to help you save, spend, and manage your money effortlessly. 🏆 With over 10 million satisfied customers, Monzo offers a seamless banking experience without the burden of pesky fees. Open a personal or joint checking account in minutes and start earning rewards! 🎉

Key Features:

• No Fees: Say goodbye to account fees, overdraft fees, and foreign transaction fees. 👋 Enjoy banking without the extra charges!
• High-Yield Savings: Earn up to 3.75% APY with instant access savings. 💰 Watch your money grow faster than the national average!
• Early Paycheck: Get paid early with a qualifying direct deposit. 🏦 Access your funds sooner!
• All-in-One Financial View: Connect all your accounts and cards for a complete overview of your finances. 📊 Keep track of everything in one place!
• Free ATM Access: Enjoy instant access to cash with nearly 40,000 free ATMs across the US. 🏧 Convenient and accessible!
• 24/7 Support: Our award-winning support team is available around the clock to assist you. 📞 We're always here to help!
• FDIC Insured: Your money is insured up to $250,000 through our partner Sutton Bank, Member FDIC. 🛡️ Bank with confidence!

Understand Your Spending Habits:

Receive real-time notifications for every debit card transaction. 🔔 Gain valuable insights into your spending across all accounts and credit cards. 💡 Set spending targets and stay on track with our help. 🎯

Reach Your Savings Goals:

Earn up to 3.75% APY on your savings with rates significantly higher than the national average. 📈 Set aside money for various goals in Savings Jars. 📦 Track your progress and set deadlines to achieve your savings objectives. 🗓️ Automatically contribute a portion of your paycheck or round up spare change to boost your savings. 💸

Top-Notch Security:

Monzo ensures your money is protected with FDIC insurance through Sutton Bank, Member FDIC. 🛡️ Benefit from anti-fraud systems that keep your money safe without adding unnecessary friction. 🔒 Secure your account with Touch ID, Face ID, and PIN. 🔐

Features

• Real-time spending notifications

• Money-saving insights across accounts

• Spending target setting

• Savings Jars for specific goals

• Automatic savings contributions

• Spare change roundups

• Anti-fraud systems for security

• Touch ID and Face ID protection

Pros

• No account fees or overdraft fees

• Earn up to 3.75% APY on savings

• Get paid early with direct deposit

• Connect all accounts for an all-in-one view

• 24/7 award-winning support team

• FDIC insured up to $250,000

Cons

• Monzo is not an insured bank directly

• Savings Jar APY is subject to change