Revolut vs Monzo vs Starling | Which One is Best for You?

The rise of digital banking has transformed how people manage their money. Traditional banks are no longer the only option, as mobile-first banks like Revolut, Monzo, and Starling offer flexible, app-based banking solutions.

Each of these fintech companies provides unique features, making it essential to compare them before deciding which one suits your financial needs best.

This article compares Revolut, Monzo, and Starling based on their features, fees, security, customer satisfaction, and international banking options. By the end, you’ll have a clearer idea of which bank is the best choice for you.

What Are Revolut, Monzo, and Starling?

Revolut, Monzo, and Starling are leading digital banks in the UK, offering app-based financial services with no traditional bank branches.

While they share common features like instant notifications and spending insights, their business models and offerings vary significantly.

• Revolut was launched in 2015 and operates as an e-money institution rather than a traditional bank. It is best known for its multi-currency accounts, cryptocurrency trading, and international transfers.
• Monzo started in 2015 and gained a strong following due to its user-friendly interface, transparency, and budgeting tools. It operates under a full UK banking licence.
• Starling Bank was founded in 2014 and is a fully regulated UK bank. It offers personal, business, and joint accounts with features like overdrafts, competitive interest rates, and FSCS protection.

These banks provide innovative solutions to replace traditional banking, but each serves different customer needs.

How Do the Features of Revolut, Monzo, and Starling Compare?

Each of these banks has developed unique features to attract different types of users.

Feature	Revolut	Monzo	Starling Bank
FSCS Protection	No	Yes	Yes
Multi-Currency Accounts	Yes	No	No
Budgeting Tools	Yes	Yes	Yes
Overdraft Facility	No	Yes	Yes
International Transfers	Yes	Limited	Yes
Cryptocurrency Trading	Yes	No	No
Business Accounts	Yes	Yes	Yes

Key Features Breakdown:

Revolut:

• Multi-currency accounts supporting 30+ currencies.
• Cryptocurrency trading available in-app.
• Customisable savings “Vaults” for setting financial goals.
• Disposable virtual cards for enhanced online security.

Monzo:

• Advanced budgeting tools with spending categories.
• Interest-earning savings accounts and overdrafts.
• Fee-free spending abroad up to a limit.
• “Get Paid Early” feature allows early access to salary.

Starling:

• No fees for UK transactions, including overdrafts and ATM withdrawals.
• Business and personal accounts with full banking features.
• Interest on current account balances.
• 24/7 in-app customer support and strong security measures.

Revolut is best for international users, Monzo for budgeting, and Starling for full banking services.

Which Digital Bank Has the Best Fees and Charges?

Understanding the cost structure is crucial, especially for users who travel frequently or make international payments.

Revolut:

• Free standard account, but premium accounts cost £2.99 – £14.99 per month.
• Free ATM withdrawals up to £200 per month; 2% fee beyond that.
  • Charges for international transfers and weekend currency exchanges.

Monzo:

• Free account with optional paid plans (£5 and £15 per month).
• Free UK ATM withdrawals but a 3% fee beyond a £250 limit abroad.
• Some overdrafts and interest-bearing accounts available.

Starling:

• No monthly fees for personal accounts.
• No fees for ATM withdrawals, UK transactions, or international spending.
• Overdraft and personal loan options available.

Starling Bank is the most cost-effective for UK users, while Revolut may be more suitable for international spending.

Which Bank Is Best for Saving?

If you’re looking for a digital bank to help you save money, interest rates, savings features, and account flexibility are the key factors to consider.

Let’s compare how Revolut, Monzo, and Starling perform when it comes to saving.

Starling Bank – Best for Earning Interest on Savings

Starling Bank is the strongest option for those who want to earn interest on their current account balance without opening a separate savings account.

• Interest Rate: Earn up to 3.25% AER on your account balance.
• Saving Spaces: Allows users to set aside money into “Spaces” while still earning interest.
• No Fees: No hidden charges for maintaining an account.

Starling is the best option if you want instant access to savings while still earning interest.

Monzo – Best for Flexible Savings Accounts

Monzo offers dedicated savings accounts with competitive rates, making it a good option for those who prefer separate savings pots.

• Easy Access Savings: Earn up to 3.40% AER with instant access.
• Fixed-Term Savings: Earn higher interest rates by locking in savings for a set period.
• Savings Pots: Separate money from your main account to avoid spending it.

Monzo is a good choice if you prefer separate savings accounts with flexible options.

Revolut – Best for Automated Savings and Investments

Revolut offers savings options but focuses more on automated saving and investment features rather than interest-bearing accounts.

• Vaults: Round up spare change and set savings goals.
• Interest Rate: Earn up to 4.75% AER on savings (for Metal plan users).
• Investment Options: Save through stocks, commodities, and crypto investments.

Revolut is ideal for those who want automated savings and investment options, but you may need a premium plan to access higher interest rates.

Final Verdict: Which Bank Should You Choose for Saving?

• Choose Starling Bank if you want to earn interest on your main account balance with no fees.
• Choose Monzo if you want separate savings accounts with flexible access and higher fixed-term interest rates.
• Choose Revolut if you prefer automated savings and investment options rather than traditional savings.

For most users, Starling Bank is the best overall choice for savings due to its fee-free interest on current balances and flexible “Spaces” feature. However, Monzo is ideal for those who prefer dedicated savings accounts with competitive interest rates.

Which Bank Is Best for Travelling?

When choosing a digital bank for travel, the key factors to consider are foreign transaction fees, ATM withdrawal charges, exchange rates, and multi-currency support. Here’s how Revolut, Monzo, and Starling compare for travellers.

Revolut – Best for Frequent Travellers and Multi-Currency Use

Revolut is designed with travellers in mind and offers several features that make it a great choice for those who spend a lot of time abroad.

• Multi-Currency Accounts: Supports 30+ currencies, allowing users to hold and exchange money at interbank rates.
• Interbank Exchange Rates: Offers competitive rates on weekdays but charges a markup of 0.5%–2% on weekends.
• ATM Withdrawals: Free withdrawals up to £200 per month, then a 2% fee applies.
• Travel Insurance: Available with premium plans.

Monzo – Good for Occasional Travellers

Monzo is a solid option for UK-based travellers, offering free foreign transactions but with some limitations.

• Foreign Transaction Fees: No fees for card purchases abroad.
• ATM Withdrawals: Free cash withdrawals abroad up to £250 per month; beyond that, a 3% fee applies.
• Travel-Friendly Features: Instant spending notifications in GBP and local currency.

Starling Bank – Best for Fee-Free International Spending

Starling stands out as the best option for travellers who want completely fee-free banking abroad.

• Foreign Transaction Fees: None – spend abroad with no extra charges.
• ATM Withdrawals: Unlimited free withdrawals abroad.
• Currency Exchange Rates: Uses Mastercard’s exchange rate without any additional markups.

Final Verdict: Which Bank Should You Choose for Travelling?

• Choose Revolut if you need multi-currency support and frequent international transfers.
• Choose Monzo if you travel occasionally and want a simple travel-friendly bank with no foreign transaction fees.
• Choose Starling Bank if you want a hassle-free travel experience with zero fees on spending and ATM withdrawals abroad.

For most travellers, Starling Bank is the best overall choice, as it offers fee-free spending and ATM withdrawals worldwide with no hidden charges. However, Revolut is ideal for those who need multi-currency accounts and frequent international transactions.

Which Bank Is Best for Transfers and Payment Options?

When choosing a digital bank for transfers and payments, key factors to consider include international and domestic transfers, real-time payments, fees, and supported payment methods. Here’s how Revolut, Monzo, and Starling compare.

Revolut – Best for International Transfers and Multi-Currency Payments

Revolut is the best choice for users who frequently send money abroad or make payments in multiple currencies.

• International Transfers: Supports 30+ currencies with interbank exchange rates.
• Fee Structure: Free international transfers for Revolut Premium and Metal users. Standard account users may incur fees for international transfers.
• Instant Peer-to-Peer Payments: Send and receive money instantly to other Revolut users.
• Supports Cryptocurrency and Stocks Payments: Unique option for users who want to send money via crypto or stocks.

Revolut is ideal for frequent international transactions but may charge fees depending on your account type.

Monzo – Best for UK Transfers and Simple Payments

Monzo provides an easy and user-friendly way to send and receive money within the UK.

• Faster Payments and BACS: Supports instant UK bank transfers.
• Bill Splitting and Shared Tabs: Easily split payments with friends.
• International Transfers via Wise: Monzo does not have its own international transfer service but integrates with Wise (formerly TransferWise) for competitive exchange rates.
• Direct Debits and Standing Orders: Manage recurring payments easily through the app.

Monzo is a good option for UK users who need a simple and effective way to manage domestic transfers and payments.

Starling Bank – Best for Fee-Free Transfers and Business Payments

Starling Bank stands out as the best option for fee-free domestic and international transfers.

• Free UK Transfers: No charges for Faster Payments, BACS, or CHAPS transactions.
• International Transfers: Supports multiple currencies with competitive exchange rates, although fees may apply.
• SEPA Transfers: Allows fee-free transfers within the Eurozone.
• Business Payments: Offers business accounts with bulk payment options.
• Cheque Deposits: Scan and deposit cheques using the Starling app.

Starling Bank is ideal for both personal and business users who want fee-free UK payments and competitive international transfer options.

Final Verdict: Which Bank Should You Choose for Transfers and Payments?

• Choose Revolut if you need multi-currency accounts and frequent international transfers at competitive exchange rates.
• Choose Monzo if you want a simple way to send and receive money within the UK, with bill-splitting and Wise integration for international transfers.
• Choose Starling Bank if you want free UK transfers, competitive international transfers, and business payment options.

For most users, Starling Bank is the best choice due to its fee-free UK transfers and business-friendly payment options, while Revolut is best for international transfers and multi-currency support.

Which Bank Offers the Best Security and Fraud Protection?

Security is a major concern for digital banking, and all three banks implement various measures to protect customer accounts.

Revolut:

• Disposable virtual cards for one-time use.
• Custom spending limits and two-factor authentication.
• End-to-end encryption for transactions.

Monzo:

• Instant notifications for every transaction.
• Ability to freeze and unfreeze cards instantly.
• Fraud detection using AI-powered technology.

Starling:

• FSCS protection covering deposits up to £85,000.
• Biometric authentication (fingerprint and facial recognition).
• Strong security monitoring and 24/7 customer support.

While Revolut offers advanced security features, Starling and Monzo provide full FSCS protection, making them safer for holding large balances.

How Do Customer Reviews and Satisfaction Compare?

• User feedback plays an important role in evaluating the performance of digital banks.

Revolut:

• Highly rated for international transactions and travel benefits.
• Complaints about slow customer service and account freezes.

Monzo:

• Well-reviewed for transparency and budgeting tools.
• Occasional complaints about account closures.

Starling:

• Consistently rated highly for customer service and fee-free banking.
• Fewer complaints compared to Revolut and Monzo.

According to Trustpilot and App Store ratings, Starling Bank and Monzo score higher than Revolut in terms of customer satisfaction.

Which Bank Is Best for International Transactions?

For frequent travellers and those making international payments, choosing the right bank is essential.

Revolut:

• Offers interbank exchange rates on weekdays.
• Charges a weekend currency exchange fee of 0.5% – 2%.
• Supports multi-currency accounts with free spending abroad.

Monzo:

• Free foreign transactions, but free ATM withdrawals abroad are capped at £250 per month.
• Additional fees apply for premium account holders.

Starling:

• No fees for spending abroad.
• Free ATM withdrawals in any country.

Revolut is best for currency exchange, while Starling offers the most cost-effective international spending.

Who Should Choose Revolut, Monzo, or Starling?

Each digital bank is suited for different types of users.

Choose Revolut if you:

• Travel frequently and need multi-currency support.
• Want to invest in cryptocurrency directly from your banking app.
• Need flexible international money transfers.

Choose Monzo if you:

• Want a simple, easy-to-use app for everyday banking.
• Need budgeting tools and spending insights.
• Prefer a bank with FSCS protection.

Choose Starling if you:

• Want a full-service digital bank with no fees.
• Need business banking or joint accounts.
• Require strong customer service and security.

While all three banks offer excellent services, Starling is the best all-around option, especially for those seeking a reliable and fee-free banking experience.

Which Bank Is Best Overall?

Choosing the best digital bank depends on individual needs, but if you’re looking for an all-rounder that offers the best balance of features, fees, security, and usability, Starling Bank is the best choice.

Why Starling Bank Is the Best Overall Choice

Starling Bank outperforms Revolut and Monzo in key areas, making it the most well-rounded digital bank for personal and business banking.

Fee-Free Banking:

• No monthly fees for personal accounts.
• Free ATM withdrawals in the UK and abroad.
• No foreign transaction fees when spending abroad.

Full UK Banking Licence and FSCS Protection:

• Deposits are protected up to £85,000 under the FSCS scheme.
• Offers overdrafts, loans, and interest on balances, unlike Revolut.

Best for Payments and Transfers:

• Free UK transfers via Faster Payments, BACS, and CHAPS.
• Competitive rates for international transfers.
• Supports SEPA transfers within the Eurozone.

Reliable Customer Service and Security:

• 24/7 customer support with strong Trustpilot reviews.
• Biometric authentication and real-time fraud detection.

Great for Business and Personal Banking:

• Offers business accounts with fee-free transactions.
• Allows overdrafts, loans, and cash deposits.
• Supports cheque scanning via the app.

When to Choose Monzo or Revolut Instead?

While Starling Bank is the best all-rounder, Monzo and Revolut may be better for specific needs:

• Choose Monzo if you prioritise budgeting tools and want an easy-to-use banking app with strong savings features.
• Choose Revolut if you frequently travel or make international payments, as it offers multi-currency accounts and interbank exchange rates.

FAQs

Which digital bank is best for business accounts?

Starling Bank and Revolut offer business accounts with various features. Starling provides free business banking, while Revolut includes multi-currency support.

Can I use Monzo, Revolut, or Starling for international travel?

Yes, all three banks support international spending, but Revolut and Starling offer better foreign transaction benefits.

Does Starling Bank have better customer service than Revolut and Monzo?

Starling Bank generally receives higher ratings for customer service compared to Revolut and Monzo.

Which mobile bank offers the best savings interest rates?

Starling Bank typically offers the best savings rates among the three.

How do Revolut, Monzo, and Starling make money?

These banks earn revenue through premium accounts, interchange fees, and financial services.

Are these digital banks safer than traditional banks?

Starling and Monzo offer FSCS protection, making them as safe as traditional banks. Revolut, however, operates under an e-money license.

Can I switch from one digital bank to another easily?

Yes, the UK’s Current Account Switch Service makes it easy to transfer accounts between banks.