Monese vs Revolut – Which Digital Finance App Is Better?

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The Generation Money Guarantee

At Generation Money our purpose is to help you make better financial decisions. All of our articles are independently written and/or edited by finance professionals and adhere to strict editorial guidelines. This post may contain links which, if clicked, could result in a payment to the site. These links never impact our editorial policy and all rankings and product recommendations remain unbiased. For more details, read how this site is financed.

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Monese logo vs Revolut logo

This is my comparison of Monese vs Revolut to find out which of these leading digital finance apps is better.

Monese and Revolut are two of the best-known digital finance apps in the UK market, along with Starling and Monzo. In this article I’ll be putting Monese and Revolut head-to-head across a number of metrics to see which comes out on top.

You can see my other digital finance app comparisons here:

I spent almost a decade working in banking so I know how much of a threat that these digital challenger apps pose to the big traditional banks. I’ve also got both a Monese and Revolut account which I’ve tested and used to go into detail for this comparison.

New Revolut customers can currently get 3 months free Revolut Premium when signing up before 31st December 2023. Revolut Premium usually costs £6.99 per month. You can cancel anytime before your 3 month trial expires.

For new customers only, T&Cs apply, see them here. Premium plan subscription fees will apply after the free trial period. You’ll be able to cancel for free at any point before the end of the free trial period. Once activated, you can order a Premium card. If you switch back to your current plan during the free trial period, you’ll be charged for the card and applicable break fees. Read more in the Plus, Premium, and Metal Terms here.

Read on for my full rundown of Monese vs Revolut, or use the links below to skip ahead to the section you’re most interested in:

You can also read my in-depth reviews of each platform here:

Monese vs Revolut – Which is better? At A Glance

Here are the key points you need to know from my Monese vs Revolut comparison.

MoneseRevolut
UK regulated bankcrosscross
FSCS protectioncrosscross
Basic free accountticktick
Subscription-based accountstick 2 optionstick 3 options
Business accountsticktick
Joint accountstickcross
Under 18s accountscrosstick
Multi-currency accountsticktick
Cash depositsSimple account – 3.5% fee
Classic account – £400 per month free
Premium account – £1,000 per month free
cross
Cheque depositscrosscross
Fee-free spending abroadtick Up to £2k per month free with Simple, 2% fee thereafter

Free for Classic and Premium
Free up to:
£200/month or 5 withdrawals for Standard
£200/month for Plus
£400/month for Premium
£800/month for Metal
2% fee thereafter
Fee-free cash withdrawals abroad and in the UKSimple – £100 free per month
Classic – £500 free per month
Premium – £1,500 free per month
2% fee thereafter
Free up to:
£200/month or 5 withdrawals for Standard
£200/month for Plus
£400/month for Premium
£800/month for Metal
2% fee thereafter
International payments/transfersticktick
Interest on current account balancecrosscross
Access to interest-earning savings accountstickvia Raisintick
Multi-currency savings accountscrosstick
Rewards & discountsticktick
Money management featuresticktick
InsuranceMonese Classic & PremiumRevolut Premium & Metal
Round-up spendingticktick
Bill splittingticktick
Overdraftcrosscross
Personal loantickvia Monevocross
Buy Now, Pay Latercrosscross
Early payday – 1 day earlycrosstick
Early payday – day of your choosingcrosstick
Investingcrosstick
24/7 customer supportcrossPlus / Premium / Metal
Phone customer supportcrosscross
Apple/Google Pay integrationsticktick
Samsung Pay integrationcrosscross
PayPal integrationtickcross
Avios integrationtickcross
Connect other bank accounts to the appticktick

Monese and Revolut both offer a number of features that you’d expect from digital finance apps, but Revolut has the edge when it comes to its range of features. It has more insurance and protection options, supports more currencies for its multi-currency accounts and offers investing capabilities. 

Revolut styles itself as the only ‘digital finance super app’ and, in my view, Revolut is the most comprehensive digital finance and payments app in the market when it comes to features and products. It does, however, lack traditional banking products and services, unlike Starling and Monzo, although this also applies to Monese.

Both Monese and Revolut have a basic free account as well as a choice of premium accounts that come with a monthly fee. To access all the available features and products, you will need to sign up to Monese Premium (£14.95 per month) or Revolut Metal (£12.99 per month). 

Revolut Metal is slightly cheaper than Monese Premium if paid for monthly and comes with a wider set of insurance and protection coverage. You’ll also get priority access to customer service (via in-app chat) 24/7 with Metal, whereas Monese does not currently have 24/7 customer support. Monese does, however, offer multilingual customer support. 

For debit card spending abroad Monese is the winner as it has a much higher fee-free allowance for its free account, Monese Simple, than Revolut has for its free Standard account. 

When it comes to withdrawing cash abroad there’s not much to choose between Revolut vs Monese. Revolut has a slightly higher fee-free allowance for Standard customers than Monese Simple, but Monese has higher fee-free allowances for Premium customers vs Revolut Metal.

Neither Monese or Revolut are licensed UK banks, unlike their main rivals Starling Bank and Monzo. This means you won’t get an overdraft or FSCS protection with either of them. Instead, Monese and Revolut are e-money institutions regulated by the FCA, and both focus on payments, multi-currency capabilities and in-app features. 

Because neither Revolut or Monese are banks, they don’t directly offer much in the way of borrowing. With Monese you can apply for a personal loan through a 3rd party broker, Monevo, but Monese does not directly lend money to you. 

With Revolut you cannot borrow money directly or apply for a loan through a 3rd party, so if you want the option of applying for a personal loan you will prefer Monese. However, Revolut does offer an innovative short-term finance feature called On-Demand Pay. This allows you to receive your regular monthly pay earlier in the month than usual – more this below.

For international payments and transfers, Revolut and Metal and Monese Premium are two of the best options on the market. They both offer some of the lowest cost transfers with minimal or no fees. Which is cheaper will depend on the currency and the amount you want to send. More below under international payments.

You’re able to deposit cash into your Monese account but not cheques. Revolut does not allow you to deposit either cash or cheques, so if you want to be able to pay cash into your current account then you’ll prefer Monese.

Monese also stands out for its account opening process, which is one of the fastest of the digital banking apps. You can get started and start using Monese’s features in a matter of a few minutes. Revolut has a faster account opening process than Starling and Monzo, but slightly lags Monese.

There are two useful 3rd party integrations that you can have with Monese. It allows you to integrate your PayPal account within your Monese account, which no other digital challenger bank offers. So if you’re a regular PayPal user you may like the convenience of being able to see your PayPal account within the Monese app.

Secondly, Monese also allows you to integrate your Avios account with your Monese account to earn Avios points through your spending with your Monese card. This will be a very useful feature for you if you have an Avios account and want to seamlessly earn points through your debit card spending.

One of the unique features of Revolut is that you can invest through the Revolut app. None of the other main digital finance apps, including Monese, currently offers this. So if you want an app that you can use for your day-to-day current account needs that also allows you to invest at the same time, then Revolut is a good option for you.

Monese is best for:

  • Fast and easy account setup
  • Paying in cash
  • Avios and PayPal integrations
  • Debit card spending abroad

Revolut is best for:

  • Investing
  • Widest range of features
  • More insurance and protection coverage
  • 24/7 customer service
  • Early payday with On-Demand Pay
  • Under 18s account opening

Monese vs Revolut – Accounts

Monese offers three personal account types, including its free Simple Account and two paid-for subscription accounts called Classic (£5.95 per month) and Premium (£14.95 per month) which come with extra features and benefits.

Revolut has four types of personal accounts that you can open. It has a free account called Standard which comes with the basic Revolut features. Then it has three subscription accounts called Plus (£2.99), Premium (£6.99 per month) and Metal (£12.99 per month), each of which comes with extra features and services included.

Both Revolut and Monese also offer business accounts. Revolut also allows you to open an account for under 18s, but Monese does not. However, Monese offers joint current accounts which Revolut does not.

Below outlines the offering of each digital finance app:

MoneseRevolut
Personal Account (free)ticktick
Personal Account (premium)tick (2 options)tick (3 options)
Business Accountticktick
Junior Accountcrosstick (6-17 year olds)
Multi-currency Accountticktick
Joint Accounttickcross

For full details of the various features and benefits of each type of account, you can read more in my Monese review and Revolut review.

The personal account tiers for Monese and Revolut work in much the same way as each other. Their basic, free accounts come with the minimum number of features. You get more features the more you’re willing to pay, with Monese’s Premium and Revolut’s Metal costing the most per month, but coming with the most features.

With the top-tier accounts of each, you will get:

  • More comprehensive insurance cover, as well more types of insurance
  • Lower transaction costs
  • Higher fee-free limits, e.g. on spending abroad and withdrawing cash
  • Priority customer support

To find out which works out better for you, I look at a comparison between the features of Revolut vs Monese below.

If you’re interested in trying Premium, new Revolut customers can currently get 3 months free Revolut Premium when signing up before 31st December 2023. Revolut Premium usually costs £6.99 per month. You can cancel anytime before your 3 month trial expires.

For new customers only, T&Cs apply, see them here. Premium plan subscription fees will apply after the free trial period. You’ll be able to cancel for free at any point before the end of the free trial period. Once activated, you can order a Premium card. If you switch back to your current plan during the free trial period, you’ll be charged for the card and applicable break fees. Read more in the Plus, Premium, and Metal Terms here.

If you want to open an account for under 18s then you can do so with Revolut but not with Monese. Revolut’s <18 account can be used by anyone aged 6 to 17 and must be approved by a parent or guardian, who must also be a Revolut account holder themselves. You’ll need one of Revolut’s subscription-based accounts to open more than one under 18s account.

However, if you want to open a joint current account, then you can do so with Monese but not with Revolut. So if this is a feature you’d like, you should consider Monese.

Revolut offers one of the widest multi-currency account offerings available, allowing you to hold and send money in 29 currencies (as of Feb-23). You can easily open an account in a different currency through the app and you will usually not be charged a fee Monday-Friday to transfer your money from one currency to another. A variable fee applies on weekends and to some currencies, but you’ll be shown the fee before making the transfer.

Monese also offers a built-in multi-currency account as part of its Simple and paid-for accounts. This covers EUR and RON (Romanian leu) currencies and you’ll need to open them once you’ve set up your GBP account. Transferring money between your different currency accounts is free Monday (from 6am) to Friday (4pm), with a 1% transaction fee on weekends.

Monese is best for:

  • Fast account opening
  • Joint accounts

Revolut is best for:

  • Cheaper top-tier account (Revolut Metal)
  • Accounts for under 18s
  • Holding money in a wider range of currencies

Monese vs Revolut – Fees

There are various fees and charges associated with different account types and transactions for each of Monese and Revolut. The main fees and charges are summarised below:

MoneseRevolut
Basic current accountFREEFREE
Subscription-based accountsClassic account: £5.95 per month / £49.95 paid annually

Premium account: £14.95 per month / £124.95 paid annually
£2.99 / £6.99 / £12.99 per month
Debit card spending abroadSimple – £2k free per month
Classic & Premium – Free
Free up to £1,000 per month, 0.5% fee above this
International transfersStandard – 2% fee
Classic – from 0.5% fee
Premium – Free
For Standard & Plus accounts: Free up to £1,000, 0.5% above £1,000
For Premium and Metal accounts: No fees
ATM withdrawals abroadFree up to:
£100/month for Simple
£500/month for Classic
£1,500/month for Premium
2% fee thereafter
Free up to:
£200/month or 5 withdrawals for Standard
£200/month for Plus
£400/month for Premium
£800/month for Metal
2% fee thereafter
ATM withdrawals in the UKFree up to:
£100/month for Simple
£500/month for Classic
£1,500/month for Premium
2% fee thereafter
Free up to:
£200/month or 5 withdrawals for Standard
£200/month for Plus
£400/month for Premium
£800/month for Metal
2% fee thereafter
UK bank transfersFREEFREE
Cash depositsSimple accounts – 3.5% fee
Classic accounts – £400 free
Premium accounts – £1,500 free
3.5% fee thereafter
Not allowed
Cheque depositsNot allowedNot allowed
Overdraft interest rateN/AN/A but fee based early payday feature – see below
Loan interest rateDependent on individual circumstances, via MonevoN/A
Replacement debit cardsDelivery fee of £4.95£5 plus delivery fee

Which is the lowest cost out of Monese vs Revolut depends upon which account type you have with each of them and what you want to use it for. Revolut has a cheaper top-tier account though, which also comes with more features than Monese’s top-tier account.

Whether you want to pay for a Monese or Revolut account will be determined by what you want to get out of your current account. You may prefer the free versions of their accounts if you don’t need the extra features, such as insurance and priority customer support, that come with them.

If, however, you do like the idea of a current account that comes bundled with lots of features and various types of insurance cover, then you may be interested in one of their paid-for accounts. 

For making international money transfers, Revolut’s Standard (free) and Plus accounts usually work out cheaper than Monese’s Simple (free) and Classic accounts. Revolut Standard gives you free international money transfers up to £1k, whereas Monese Simple charges a 2% fee. 

At the top end, Revolut Metal and Monese Premium are very similar when it comes to cost on international transfers. Neither charge fees, but the exact transfer rate you get will still depend on the specific currency and the amount you are sending. Revolut supports far more currencies for international transfer than Monese though.

Monese is better for:

  • Debit card spending abroad
  • Withdrawing more than £800 per month in cash (UK or abroad)

Revolut is better for:

  • Cheapest top-tier account (unless paying annually for Monese Premium)
  • Widest range of features with top-tier account
  • International transfers for free account holders
  • Fee-free cash withdrawals up to £200 with no monthly account fee

Monese vs Revolut – Spending Abroad

Spending abroad means either using your debit card to make purchases or withdrawing cash in a foreign country. You can do both with Monese and Revolut.

Here’s the key information on spending abroad from the fees table above:

MoneseRevolut
Debit card spending abroadSimple – £2k free per month, 2% fee thereafter
Classic & Premium – Free
Free up to £1,000 per month, 0.5% fee above this
ATM withdrawals abroadFree up to:
£100/month for Simple
£500/month for Classic
£1,500/month for Premium
2% fee thereafter
Free up to:
£200/month or 5 withdrawals for Standard
£200/month for Plus
£400/month for Premium
£800/month for Metal
2% fee thereafter

For debit card spending abroad, Monese is generally the better option for withdrawing large amounts as it has a £2k fee-free limit per month for Simple customers and no fees or limits for Classic and Premium users. Revolut still has a decent £1k fee-free limit per month for all account holders but charges a 0.5% fee above this.

When it comes to withdrawing cash, Revolut has a higher limit of £200 per month before charging fees than Monese’s £100 per month. Monese Premium beats Revolut Metal though as it has a £1,500 per month limit vs Revolut’s £800 per month limit. Both charge a 2% fee beyond these limits. 

Revolut uses the real exchange rate (sometimes referred to as the interbank, or spot, rate) for currency conversions. Monese uses the MasterCard exchange rate which in practice is usually pretty close to the spot/Interbank rate.

Monese is better for:

  • Debit card spending abroad
  • Withdrawing more than £800 per month in cash (UK or abroad)

Revolut is better for:

  • Fee-free cash withdrawals up to £200 with no monthly account fee (3rd party withdrawal fees and weekend fees may apply)

Monese vs Revolut – International Payments

One of the reasons Monese was created was to make it easier for customers to send money abroad, or make international payments. You can easily do so from within the Monese app. 

Revolut has also made international money transfers a key part of its offering. The fees for both Monese and Revolut’s international payments are outlined below:

MoneseRevolut
International transfersSimple – 2% fee
Classic – from 0.5% fee
Premium – Free
For Standard & Plus accounts: Free up to £1,000, 0.5% above £1,000
For Premium and Metal accounts: No fees

Monese’s Simple account charges a 2% fee on all international transfers, making it more expensive than all four Revolut account options. With Revolut Standard, international transfers up to £1k are fee-free and you get the spot exchange rate, making Revolut one of the best options on the market.

Revolut Plus (£2.99 per month) also has fee-free transfers up to £1k. Premium and Metal customers will face no fees at all on international transfers with no limits. Monese Premium is similar as it also charges no fees and has no limits on international transfers, but it costs £14.95 per month, aout £2 more than Metal if paid for monthly.

This means that Revolut Premium at £6.99 per month gives you access to one of the best international transfer rates on offer in the UK, and beats Monese Classic (£4.95 per month). 

Revolut also supports far more currencies than Monese does, making it the best option for international transfers for most people. The exact transfer rate you get will still depend on the specific currency and the amount you are sending.

That being said, Monese Premium still offers a great rate with no fees so you won’t be missing out on low cost international transfers if you want to open a Monese Premium account.

Monese is best for:

  • Competitive international transfer rate for Monese Premium customers

Revolut is best for:

  • Fee-free transfers up to £1k with Revolut’s free Standard account
  • Fee-free market rate on all international transfers for Premium and Metal customers

Monese vs Revolut – Which Is Safer?

Neither Monese or Revolut are licensed UK banks, unlike their rivals Starling and Monzo. Instead, they are e-money institutions regulated by the FCA.

This means you will not get FSCS protection on your deposits with Revolut or Monese. However, as they are regulated by the FCA, you will be able to take a dispute to the Financials Ombudsman Service if you’re unable to resolve it directly with them.

As e-money institutions, both Revout and Monese are bound by the safeguarding rules set out by the FCA. This means that Revolut and Monese must separately store and protect your money.  You can read more about how e-money institutions protect your money in my Revolut review.

Revolut is in the process of applying for a UK banking licence, but this is a lengthy process with no timeline on when it might be granted.

When it comes to safety, there is not much to choose between Revolut vs Monese. 

Monese vs Revolut – Which Has The Best Features?

Both Monese and Revolut offer a range of money management, spending and budgeting features that are typical of digital finance apps. 

This includes for both Revolut and Monese:

  • Instant spending notifications
  • Bill splitting
  • Round-up savings/pots
  • Categorised spending insights
  • See your other bank accounts in the app
  • Discounts and cashback on spending (depending on account type)

Revolut, though, has the widest range of useful features of any of the main digital finance apps. It allows you to trade and invest in a range of asset classes directly through the Revolut app.

You’re unable to do this with Monese or any other digital banking app. If you like the idea of having your spending, payments and investing all in one place, then you’ll like Revolut.

Neither Revolut nor Monese lends money directly, but Revolut has an innovative feature called On-Demand Pay. Essentially this allows you to get your regular monthly pay earlier in the month than usual. Although Monese does not directly lend to you, you can access personal loans through its app via Monevo. More on this and Revolut’s On-Demand Pay under Borrowing below.

Monese offers personal accident and sickness cover, hospital stay cover and purchase protection as part of its insurance package with Classic and Premium accounts. 

However, Revolut Premium and Metal customers get even more insurance cover than this, including worldwide travel insurance, theft and accident coverage, purchase protection and lots more. So Revolut is the winner when it comes to packaged insurance with its paid-for premium accounts. 

Revolut also offers a travel booking feature called Stays. This works similarly to Hotels.com and Booking.com, and allows you to book accommodation all over the world through Revolut’s app.

Again, this is a feature that is not available with other digital finance apps and could be very useful for you if you travel regularly. No booking fees are charged by Revolut, but fees and charges from accommodation providers may apply. Read the Stays T&Cs for more.

If you combine Revolut’s travel insurance, Stays feature and its comprehensive money exchange options then Revolut is the best digital finance app for regular travellers

Monese has partnered with Raisin, the digital savings provider, to offer access to interest-bearing savings accounts. This is useful if you want to be able to transfer money into savings products through your app. 

Revolut also offers interest-bearing savings accounts provided by various partner banks. This includes the option to save money in multiple currencies, including EUR and USD, which is another unique feature. So again, you will get more choice for your savings with Revolut than with Monese.

There are some features that Monese has that Revolut doesn’t though. One of these is Monese’s Credit Builder. If you have little or no credit history and want to build it up, Monese’s Credit Builder works by essentially providing an interest free loan to you which you pay back in instalments. It costs £2.50 per month which works out to be an effective 9.1% APR based on a £600 loan over 12 months. For more on how this works, see my Monese review.

Another useful feature with Monese is its integration with Avios. You’re able to link your Avios account to your Monese account and earn points on your spending, so if you’re an Avios user then you might want to try Monese for this reason. 

You can also integrate your PayPal account with your Monese account. You’re not able to directly send or receive Paypal payments through the Monese app but you can view your transactions from the Monese app. This could be useful for you if you’re a regular Paypal user.

Both Monese and Revolut have Apple and Google Pay integrations, so you can link your accounts to your mobile wallets on your phone. Neither has Samsung Pay integration at the moment, though, unlike Starling Bank.

Monese is best for:

  • Linking and viewing your PayPal account
  • Linking your Avios account and earning Avios points on your spending
  • Income protection, hospital stay and purchase protection insurance
  • Building your credit via Credit Builder

Revolut is best for:

  • Regular travellers – for insurance, money exchange and Stays accommodation booking
  • If you’re looking to invest
  • Getting paid earlier than usual (fees may apply)
  • Multi-currency savings accounts
  • Pet insurance

Monese vs Revolut – Borrowing, Loans & Overdrafts

You cannot directly borrow money from Monese or Revolut. However, both offer ways to get financing for your needs:

MoneseRevolut
Overdraftscrosscross
Personal Loanstick via Monevocross
Business Loanscrosscross
Buy Now, Pay Latercrosscross
Early Payday – 1 Day Earlycrosstick
Early Payday – A day of your choosingcrosstick

While you can’t get a personal loan directly with Monese, it has partnered with Monevo, a 3rd party digital loan broker. Monevo takes your details and connects you to a range of lenders who offer different terms and you can choose which one suits you best.

You can search for a personal loan under the Explore tab of the Monese app where you’ll find a ‘Credit’ section. There, you can then fill in a form with your details which is then used to conduct a soft credit check (your credit score will not be affected). 

Once that’s done, Monevo will then present you with search results that show different loan options with different providers. If you go on to apply for a loan with a 3rd party provider, you’re likely to have to undergo a hard credit check, too.

Revolut does not offer loans or overdrafts in the UK (it does offer loans and overdrafts in certain European jurisdictions) but it does have an ‘early payday’ feature. There are two options to get your usual monthly pay early.

The first is called Early Salary and allows you to get paid one day before your usual pay date. This feature is free and is something that Monzo, a rival digital bank, also has. Your employer will need to be signed up to this feature with Revolut, although getting paid one day early isn’t exactly the most useful or exciting feature.

Alternatively, Revolut offers an On-Demand Pay option which allows you to get your usual monthly salary paid to you on any day of the month prior to your usual payday. There is a flat fee to use this service, especially if you’re not on one of its subscription based accounts. 

While these aren’t borrowing features in the traditional sense, the On-Demand Pay feature acts in a similar way. You get access to cash and instead of charging interest, Revolut charges a fee instead. This is clearly a short-term option and is useful if you find yourself needing to bridge the gap between paydays. As it’s fee-based you also won’t need to worry about compound interest building up.

Again, your employer will need to be signed up to this feature with Revolut. You can access the amount of salary that you have accrued during the month up to the time you wish to use On-Demand Pay. For example, if you are 3 weeks into a month, you can potentially withdraw up to 3 weeks worth of your monthly pay before your actual payday. When it comes to your payday, Revolut will deduct any amount that you’ve already accessed through On-Demand Pay.

Monese is best for:

  • Personal loans (via Monevo)

Revolut is best for:

  • Getting your salary/wages paid one day early for free
  • Accessing a portion of your monthly before your usual payday

Monese vs Revolut – Who Has The Best Customer Service?

Revolut offers 24/7 priority customer support to all Plus, Premium and Metal customers via in-app chat and email. Standard account customers can contact support via in-app chat 24/7 too, but queries will not be prioritised like those of Plus, Premium and Metal customers.

You can also contact Monese customer support by chat in the app or via email. It’s not available 24/7 though, so you may prefer Revolut for its more accessible customer support.

Monese Premium customers will get priority support over Simple and Classic account holders, similar to Revolut Plus, Premium and Metal customers. 

I’ve personally not had any issues with Monese or Revolut customer support. Both also offer extensive help sections in the app and online which may resolve your query before needing to speak to a chat agent.

A useful feature of Monese’s customer support is that it’s multilingual. You can connect in 15 different languages, so this will be useful for those whose first language is not English. 

Neither Monese or Revolut have a phone number to contact customer support which you may find frustrating. Their rivals Starling Bank and Monzo do offer 24/7 customer support over the phone, so check them out if this is an important feature to you.

Monese is best for:

  • Multilingual customer support
  • Priority support for Premium account holders

Revolut is best for:

  • 24/7 support for all customers
  • Priority 24/7 customer support for Plus/Premium/Metal customers

Monese vs Revolut – Customer Reviews

The Trustpilot and App Store ratings of Monese and Revolut are below:

Trustpilot:

  • Monese 4.0/5
  • Revolut 4.3/5

App Store:

  • Monese 4.8/5
  • Revolut 4.9/5

Revolut scores higher than Monese with Trustpilot, with a rating of 4.3 compared to 4.0. It has 75% of reviews rated as ‘Excellent’, with positive reviews tending to praise the useful features that Revolut has. Some of the more negative reviews mention long waiting times to complete Know Your Customer (KYC) checks before they can set up an account.

Monese has a Trustpilot rating of 4.0, which places it below Starling Bank (4.3), Monzo (4.4) and Revolut (4.3). Positive reviews include praise of the ease with which you can transfer money in different currencies and the fast account setup. Among the negative reviews, some customers mention issues with verifying their location through the app, as well as issues with withdrawing money.

Monese vs Revolut – Final Verdict

Revolut is the best option for you if you want access to the widest range of innovative features and for those who want to be able to trade and invest from the same app as their current account.

Currently, Revolut is the only major app that combines personal current accounts with the ability to invest.

Revolut also supports a far wider range of currencies that you can hold your money in than Monese. Its international payments are also one of the lowest cost options for sending money abroad, and support sending money in over 150 currencies. This also beats Monese.

You will get all the expected money management and budgeting/savings app features with Revolut. But you also get access to lots more beyond, including Stays to book accommodation, pet insurance, On-Demand Pay, gifting and much more. 

So if having the widest range of digital finance features is important to you, then you’ll prefer Revolut over Monese and most other digital finance and payments apps. 

New Revolut customers can currently get 3 months free Revolut Premium when signing up before 31st December 2023. Revolut Premium usually costs £6.99 per month. You can cancel anytime before your 3 month trial expires.

For new customers only, T&Cs apply, see them here. Premium plan subscription fees will apply after the free trial period. You’ll be able to cancel for free at any point before the end of the free trial period. Once activated, you can order a Premium card. If you switch back to your current plan during the free trial period, you’ll be charged for the card and applicable break fees. Read more in the Plus, Premium, and Metal Terms here.

Monese is still a great choice for your digital spending account, though. It has some unique features such as integration with Avios so that you can earn Avios points on your debit card spending. You can also see your Paypal account in the Monese app.

You can apply for a personal loan through a 3rd party with Monese too, which is something that Revolut doesn’t currently offer. Monese also has a Credit Builder feature which you may be interested in if you have little or no credit history. Again, this is something that Revolut doesn’t currently offer.

Monese’s top-tier account, Monese Premium, is competitive with most other digital current accounts, and is cheaper than Revolut Metal if you pay yearly. If you prefer to pay monthly though, Revolut Metal is cheaper at £12.99 vs Monese Premium at £14.95.

When comparing all digital current accounts though, Starling Bank is my overall personal favourite. It has great built-in features, totally fee-free spending abroad, FSCS protection and no monthly account fees. 

While you cannot invest through the Starling app, like you can with Revolut, I prefer using dedicated investment platforms for my own investing. So while you may like the convenience of investing with Revolut alongside your current account needs, it’s not a feature that’s hugely important to me when choosing a digital bank account.

Check out my rundown of the best investment apps in the UK to get started with a dedicated investment platform.

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