Monzo is a financial technology company; not a bank. Banking services are provided by Lead Bank or Sutton Bank; Members FDIC. T&Cs apply.
Cash back where it matters
After your first month, choose your 5 favorite places to get cash back at. You can even suggest places you want added to our list. It's the best way to be rewarded for being you.
- 5% cash back on 5 places with Preferred account
- 1% cash back on 5 places with free Everyday account
All your money, one app
Link your other bank accounts, savings accounts and credit cards into Monzo. Then use our easy tools to budget across all your spending and savings.
FDIC protection meets cutting-edge security
With Monzo, your money is eligible for pass-through insurance up to $250,000 through our partner Lead Bank or Sutton Bank, Members FDIC.**
See how we stack up
Comparison of features between Monzo Everyday, Monzo Preferred, and competitor Plus accounts
Everyday | Preferred | Plus | Plus | |
|---|---|---|---|---|
| Cash back on debit | 1% at 5 places* | 5% at 5 places* | Chime deals | |
| Savings APY | 2.00% APY | 3.75% APY | 3.50% APY | 3.60% APY |
| Linked accounts | ✓ | ✓ | ✓ | |
| 24/7 support | ✓ | ✓ | ✓ | ✓ |
| Monthly cost | $0 | $10 | Direct deposit required | $10 or direct deposit required |
Data as of December 8, 2025. Competitor features and fees may change. Please check their websites for the latest information.
*How does cash back work? You will earn cash back on your first $3,000 of card spend per month for your eligible purchases.
**How does FDIC insurance work? Your funds are held at Lead Bank or Sutton Bank; Members FDIC. Monzo is a financial technology company, not a bank or FDIC-insured depository institution. Monzo accounts are subject to pass-through FDIC insurance up to $250,000 per ownership category, should Sutton Bank fail. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply, which you can learn more about
here.