Bank Index

Monzo Bank Ltd

Bank · LONDON, United Kingdom · overall 4.9 / 10

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How this 4.9 is built

Average of 6 scored needs: 4.9. Regulation in United Kingdom: 91/100 (World Bank governance indicators). Licence confirmed by a regulator's own list. 1 score backed by filings or its own pages.

MONZO BANK LIMITED is recorded in the global register as a bank in LONDON, United Kingdom. The register names Prudential Regulation Authority (Bank of England) as its regulator and shows the licence as licensed. Established 2015. Collected from open registers.

On its own website: “Your salary sorted into Pots. Your spare change turned into savings. Your money, doing what it should with Monzo.”

Legal name
MONZO BANK LIMITED
Regulated by
Prudential Regulation Authority (Bank of England)
Licence confirmed
yes, on a regulator's own list
Established
2015
LEI
213800PLUYXGZ8LU7T61
Website
monzo.com

Scores, 0 to 10

6.0United Kingdom
Licensed and operating in its home country per the register entry; the depth of its offer here has not been checked yet. · source
6.0Financial strength & stability
Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source
5.0Lowest fees
Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source
5.0Best interest on business balances
Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source
5.0Trade, manufacturing & import-export
Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source
4.5Fast digital onboarding
Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source
4.0Cross-border payments, FX and multi-currency accounts
Its own business page names SEPA, so payments can leave the country. The score stops at 4.0 because the page did not give the currencies the account holds or the margin on the exchange rate, and the rubric needs both to go higher. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.