Monzo vs ZEN.com
A side-by-side look at how these two wallets stack up — and which one wins for which job.
| Feature | Monzo | ZEN.com |
|---|---|---|
| Score | 4.4 / 5 | 3.6 / 5 |
| Best for | Everyday UK banking and budgeting | Everyday spending with cashback |
| Monthly fee | Free → Plus/Premium plans | Free plan; paid premium tiers |
| Exchange rate | Mastercard rate, no Monzo markup | Small margin on free; better on higher tiers |
| Send / receive | Free UK transfers | Free ZEN-to-ZEN |
| Withdrawals | Free in UK; overseas cap then fee on free plan | Free ATM up to a cap, then fee |
| Card | Yes — debit Mastercard | Yes — virtual & physical Mastercard |
| Availability | UK (US in rollout) | EEA + UK |
| Currencies | GBP (spends abroad at Mastercard rate) | 30+ currencies |
| Regulation | UK PRA/FCA full banking licence (FSCS protected) | Bank of Lithuania (EMI), EEA-licensed |
| Founded | 2015 | 2019 |
Monzo
Monzo is a fully licensed UK app bank with FSCS-protected deposits, best known for its budgeting tools (Pots, spending categories) and fee-free card spending abroad at the Mastercard rate. It is one of the most polished everyday banking apps in the UK, with overseas ATM limits and premium perks reserved for paid tiers.
Pros
- Full UK bank, FSCS-protected deposits
- Excellent budgeting with Pots and categories
- No FX markup on card spending
Cons
- GBP-only current account
- Overseas ATM limits on the free plan
- Best perks on paid tiers
ZEN.com
ZEN.com is a Lithuanian, EEA-licensed money app offering a multi-currency account, virtual and physical Mastercards, cashback and an extended buyer-protection feature. It is a capable everyday-spending option in Europe, with the best rates and perks gated behind paid tiers and a relatively young brand.
Pros
- Multi-currency account with Mastercard
- Cashback on eligible purchases
- Extended buyer-protection feature
Cons
- Best perks require paid tiers
- Support can be slow
- Newer, less-established brand
The bottom line
Overall, Monzo edges ahead with a score of 4.4 versus 3.6 — but the right choice depends on your priorities. Check both against your own country and use case before deciding.