Monese Vs Revolut: Which is the better App for your needs?

About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio.

Monese and Revolut are both app-based money management platforms that give you smart control over your budget, foreign transactions, and currency transfers minus the bank’s typical exorbitant fees.

monese vs revolut
  • Revolut has a banking license in some regions and offers deposit protection up to €100,000 EUR in 10 EU countries (not the UK).
  • Monese has a Credit Builder program if you want to build your credit score up (Excellent for new arrivals or those maybe wanting a mortgage in the future).
  • Monese is only available in the UK and EU, whereas Revolut is more widely available and is generally more useful for managing many currencies.

In this guide, we will explore Monese and Revolut in terms of fees, benefits, and customer support. This should help you choose the right one for your needs.

Disclosure: This post contains affiliate links, which may save you and do not cost any more. For more information, see my disclaimers here.

1. Monese vs Revolut: Quick Comparison

Monese and Revolut are both trustworthy app alternatives to banks. Monese is “Great” at 4.2/5 (33k+ reviews) on Trustpilot while Revolut is slightly better at 4.3/5 (136k+ reviews). And Monese can help build credit while Revolut aims to be a financial one-stop shop.

TrustHigh – Good Trustpilot score and customer funds held separately for safetyVery high – Great Trustpilot score, regulated service
FeesVaries by account typeVaries by account type and location
Banking license?NoNo in most locations including the UK. However, yes in Lithuania, including the EEA
Trustpilot RatingExcellent – 4.3/5 with over 40,000 reviews (as of January 2024)Great – 4.2/5 on Trustpilot with over 146,000 reviews (as of January 2024)
Full ReviewMonese (review)Revolut (review)

Winner: Revolut

Both Monese and Revolut are great if you’re looking to manage your money better online. But Revolut wins this round with a slightly higher Trustpilot score and much greater reach.

If you want a bigger picture with more options check out Revolut Alternatives.

2. Monese vs Revolut:  Top Features

AvailabilityUK and EUUK, EU, US, Australia, New Zealand, Singapore, Brazil
Business Account?Yes – single tierYes – many tiers
Address Proof for Sign UpNoYes
International TransferYes – in 30 currenciesYes – in 36 currencies
Multi-Currency AccountYes – for personal and businessYes – for business
Debit CardYes – for personal and business.Yes – for personal and business.
Instant TransferYes – local Monese to Monese transfersYes – local Revolut to Revolut and card transfers
Large transfersNoYes
Special featureCredit builder for new arrivals to the UK and individuals wanting to build their credit scores

Winner: Tie

Revolut is widely available compared to Monese and supports more currencies, which makes it a great choice for those who live in the EU and UK and beyond. 

However, we also love how Monese makes it easy for expats to get an online money management account in the UK and EU without address proof and gradually build up a credit score to open a high street bank account. This option is also open to UK residents who have a low credit score and are unable to open an account with a high street bank.

3. Monese vs Revolut: Pros and Cons

Monese Pros

  • Start with a free account
  • Sign up without an address proof
  • Available for both personal and business
  • Available in free and paid accounts
  • Multi-currency account
  • MasterCard debit card – works worldwide
  • Credit builder for expats and individuals with low credit score
  • Multicurrency Account for business
  • Cash deposits available at select locations
  • Joint account option available
  • Apple Pay and Google Pay integration

Monese Cons

  • No banking licence or deposit protection
  • Only available in the UK and EU

Revolut Pros

  • Widely available in the UK, US, EU, Australia, and New Zealand
  • Manage all your external bank accounts in Revolut
  • Available on standard and premium accounts
  • Available for personal and business
  • Multi-currency account for business
  • MasterCard debit card that works globally
  • 36 currencies for international transfers
  • Discounts and complimentary perks for premium account holders
  • International ATM withdrawals with a certain limit
  • Disposable virtual card option for online transactions

Revolut Cons

  • Exchange rate mark up on weekends

Winner: Tie

Monese offers a lot of flexibility while signing up, has both free and paid accounts and their Credit Builder feature is unique. This makes them a great starter bank account for expats and international students in the UK and Europe (especially UK students in the EU and vice versa).

Revolut is widely available and has a banking license in some regions (not the UK) with deposit protection in some European countries. This makes them ideal for the residents of the supported countries who want an easy-to-use current account for everyday expenses. 

So ultimately which service is right for you depends on your specific needs and preferences.

4. What Others Say: Third-Party Reviews


Trustpilot Score

Excellent – 4.2/5 with over 40,000 reviews (as of January 2024)


Positives (76% of reviews)

Many reviewers praise how easy it is to send and receive money locally with Monese as well as the ease of making payments while traveling abroad.

People also appreciate their Credit Builder program.

Interestingly, a large portion of the reviewers gave Monese one-star or two-star reviews.

Negatives (21% of reviews)

Poor Customer Support: Many reviewers are frustrated with the response time, lack of support, and resolution of their issues.

Account Closure: Some customers have reported that their accounts were closed without any reason, and they were unable to access their funds. 

Monese is a regulated financial institution, so any account that doesn’t meet its terms of service or tries to use its platform for unlawful activities may be shut down. 

Unauthorized transactions: Even though these are rare, they have raised concerns among Monese users recently about safety on the platform – especially since there’s no deposit protection.

We recommend holding small amounts of money only while building your credit and moving to a high-street bank or a deposit-protected account when you have the chance.

What They Said

“Monese was very easy to set up and start using. All my cards, transfers, and budget are a page away. Friends in Romania suggested a mobile bank over local banks because of convenience, low fees, and customer service. They were right.”


“Transferring to other accounts is so easy and safe. I travelled and used euros without getting charged and my favourite feature is the Monese credit builder as I am building now building my credit whilst saving.”

– Estee-Naomie Kedima on Trustpilot


Trustpilot Score

Great- 4.2/5 on Trustpilot with over 146,000 reviews (as of January 2024)


Positives (85% of reviews)

Overall, customers seem to have a positive experience with Revolut, and the app’s ease of use and fraud prevention feature is particularly appreciated.

Many reviewers also said that Revolut is great when traveling abroad.

Compared to Monese, Revolut has a lesser percentage of negative reviews. 

Negatives (12% of reviews)

Negative reviews mainly focus on the following:

Frozen accounts: These reviews highlight a recurring problem where customer accounts were frozen without any clear explanation.

Users were also frustrated about the lack of transparency and the level of support they received with frozen or blocked accounts.

Too many verifications: Many users expressed dissatisfaction with the paperwork and verifications while opening a Revolut account.

However, as an online bank with a banking license, Revolut needs to perform these checks to make sure that users comply with their terms and conditions on the platform – and to avoid unlawful activities like theft and fraud.

Customer service: Many users mentioned that they encountered difficulties in reaching out to the support team for assistance and often their issues were not satisfactorily resolved

What They Said

“Everything with Revolut is so seamless. One thing l really like is how they can stop a payment if it looks fraudulent. Most external banks will make the payment then you have to spend time disputing the transaction. With Revolut they stop the payment & ask you if the payment is something you recognise or is it fraudulent. Moving money around is instantaneous & l would happily recommend as they make everything so easy.”


“I’ve been using Revolut since almost 2 years now and for personal and business it’s an amazing tool. payment links, currency exchange and the most amazing are the perks offered to businesses.

Support through chat always available and the help is always there for you.”

– Marco Pirongelli on Trustpilot

Winner: Revolut

Both Monese and Revolut have a high Trustpilot rating and most of their user experiences are positive. 

A couple of common issues noted for both services are customer service and frozen accounts (typically related to compliance audits).

5. Monese vs Revolut: Fees


Account fees

Personal Account

  • Monese Starter – £0/month
  • Monese Classic – £5.95/month
  • Monese Premium – £14.95/month

Monese for Business

  • £9.95/month

Money transfers

  • Local Monese to Monese transfers: Free
  • International transfers:
    • Simple: 2.5% for outgoing transfers and additional 1% fee on weekends (lower for paid accounts)

Access to Credit Builder:

  • £7.95/month

Card Fees

  • First card delivery: Free 
  • ATM withdrawal: 1.5 GBP/EUR per transaction above the monthly limit
  • Spending in foreign currencies: 2% fee


Account Fees

Personal Account 

  • Revolut Standard
  • Plus – £2.99/month
  • Premium – £6.99/month
  • Metal – £12.99/month

Freelancer Account

  • Basic
  • Professional – £7/month
  • Ultimate – £25/month

Business Account

  • Basic
  • Grow – £25/month
  • Scale – £100/month
  • Enterprise – Custom

International Transfer Fees

  • Transfers at the Revolut rate
  • Service fees – 0.5% up to £1000 GBP (Standard and Plus), Unlimited on Premium and Metal
  • Exchange rate mark up on weekends 
  • Some fees are charged by sending and receiving banks

Card Fees

  • Delivery fee applicable based on plan
  • Replacement fee – €6
  • ATM withdrawal fee – up to 5 ATM Withdrawals or €200-€800/month (based on plan). 
  • 2% per withdrawal
  • Currency conversion fee for using card abroad

Winner: Tie

Both Revolut and Monese have competitive pricing for account types, but the international transfer fees are on the higher end.

If small bank-to-bank transfers (below $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AU) are a priority, we recommend a dedicated transfer service like Wise (review)

With Wise you can send money to 160+ countries in 40+ currencies at the mid-market rate and with average service fees of 0.61%.

Wise also offers a multicurrency account for personal and business use where you can hold, manage, and convert between 40+ currencies, get local receiving accounts, and a prepaid debit card that can be used globally.

6. Monese vs Revolut: Transfer Speed


Local Monese to Monese payments: Instant

UK payments

  • UK Faster payments: instant
  • BACS payments: 3 business days
  • CHAPS payments: the same day, if made before 2pm UK time

SEPA payments to your EUR account

  • Before 2pm Central European Time (GMT +1): the same day by 17:00 CET time
  • After 2pm Central European Time (GMT +1): the next business day

International transfers

  • Payments to your secondary account: 8am, 11am and 5pm Monday through Friday
  • SEPA payments in EUR: the next business day
  • Payments from other countries or in other currencies may take longer (2-4 days)


  • Local Revolut to Revolut: Instant
  • Revolut to Card: up to 30 minutes
  • International bank to bank transfers: 2-5 business days

Winner: Tie

Both Monese and Revolut process local transfers instantly. 

However, if you want to exchange currencies between the UK and EU frequently, Monese can be faster with its “UK Faster payments”.

In general transfer speeds are also similar for international transfers to other countries beyond the UK and the EU.

7. Monese vs Revolut: Cards


  • MasterCard debit cards available for personal and business
  • Integrates with Apple Pay and Google Pay for contactless payments
  • Link with PayPal for an alternative payment option
  • Customizable cards
  • Virtual cards for online shopping
  • Works globally – withdraw from ATMs abroad at the MasterCard rate
  • Lock or unlock the card from the app


  • Debit cards are available for both personal and business (Visa and MasterCard)
  • Revolut premium cards come with exclusive benefits
  • You may be able to change the card design (depending on the availability)
  • Connect cards with Apple Pay and Google Pay for contactless payments
  • Spend in 150+ currencies while traveling
  • Single-use virtual cards for safe online shopping
  • Block-unblock and set limits and pin easily from the app
  • No-fee* ATM withdrawal within limits (£200 GBP – £2000 GBP depending on the plan)
  • Cashback** on spends (depending on plans)

*Third-party ATM providers may charge a withdrawal fee and weekend fees may apply

**T&Cs apply

Winner: Tie

Revolut and Monese debit cards have a lot in common, but Revolut has different levels of card upgrades that vary by location, and some special perks for the Revolut Metal and Ultra card holders.

8. Monese vs Revolut: Multi-Currency Accounts



  • Multi-currency account
  • Open an account instantly with ID (no address proof)
  • MasterCard debit card that works globally
  • Three account tiers
  • Savings pots, budgeting and tracking
  • Get joint accounts
  • Set up direct debits
  • Free SEPA payments (subject to currency exchange fee)
  • International transfer in 19 currencies
  • Credit builder program in the UK
  • Top up account with cash


  • Multi-currency account for UK-registered businesses
  • Send or receive from over 30 countries
  • 6 FREE withdrawals per month
  • Free contactless debit card that works globally
  • Single fee of £9.95 per month
  • Create business invoices



  • International transfer in 29+ currencies
  • Five account plans to choose from
  • Manage all your external bank accounts with Revolut
  • Investment options
  • Saving vaults and budget tracking
  • Travel perks (depending on plan)
  • Everyday insurance (depending on plan)
  • Pet insurance option
  • No charge for linked accounts for family members who are 6 to 17 years old (T&Cs apply)


  • Available in all supported countries
  • Send, receive, hold and exchange money in 25+ currencies
  • Multi-currency account for businesses of all sizes
  • Dedicated accounts for companies and freelancers
  • Automate fixed expenses
  • Virtual and physical debit cards for teams (limits can be set)
  • Multiple ways to get paid – payment links, custom invoices, integration in payment gateways and Revolut card reader
  • Integrates with business APIs like Xero, Quickbooks, etc.

Winner: Revolut

Each service offers unique features, but Revolut is more comprehensive for both personal and business users.

They have everything you need for everyday use. Revolut is also more widely available, offers many ways to get paid, has multiple investment options you can explore, and their paid accounts have many cool perks.

Their business account is also robust, catering to businesses of all sizes and types – from e-commerce to online service-based businesses and brick-and-mortar stores.


With 2 wins for Revolut and 5 ties, it can be difficult to say which money management app is better. Both services have their pros and cons depending on what you are looking for in a financial platform.

However, some general guidelines are:

  • If you want a fully-featured bank account that does not require proof of residency or address verification (especially if you are new to the UK or Europe), then Monese may be a better option for you.
  • If you want a multi-currency account that allows you to exchange and spend money in over 36 currencies with low fees and access to other financial services such as investments and insurance, then Revolut may be a better option for you.

Ultimately, the best way to decide between Monese vs Revolut is to compare their features and fees in detail according to your specific needs and preferences. You can also check out their customer reviews and ratings to get a sense of their service quality and reliability.

Is Monese a Revolut?

No, Monese is not a Revolut. They are two separate platforms that offer almost similar financial services, but they are not affiliated with each other. Each platform has its own pros and cons depending on your needs.

Is Monese a Real Bank?

No, Monese is a digital financial platform that allows you to open an account in multiple currencies, regardless of your credit score and provides helpful benefits such as instant local money transfers.

The opinions expressed within the content are solely the author’s and do not reflect the opinions and beliefs of Revolut. However, please be aware that a commission may be earned through affiliate links.

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