Starling vs Monzo vs Revolut: Which Digital Bank is Best for You?
The way we bank has been revolutionised. Gone are the days when your only option was a traditional high-street institution. Today, digital challenger banks – often called "soft banks" or app-based banks – like Starling Bank, Monzo, and Revolut offer slick mobile apps, innovative features, and often lower fees, all from the convenience of your smartphone. But with a growing number of choices, how do you decide which one is right for your financial needs in the UK?
At Plouta, our mission is to empower you with clear, unbiased information to help you manage your money effectively, save smarter, and build a secure financial future. This in-depth comparison will explore what Starling, Monzo, and Revolut offer in 2025, looking at their accounts, features, fees, security, and much more, helping you choose the digital banking partner that best aligns with your journey to financial independence.
What you will learn in this guide: ⤵
The Digital Banking Revolution: A brief overview of app-based challenger banks.
Meet the Contenders: An introduction to Starling Bank, Monzo, and Revolut – their origins and core offerings.
Feature-by-Feature Showdown: Comparing current accounts, savings options, international usage, borrowing, business accounts, and more.
Fees & Charges Uncovered: A clear look at what each bank charges for everyday banking and international services.
App Usability & Customer Support: How their mobile apps and customer service compare.
Safety & Security: Understanding FSCS protection and other security measures.
At-a-Glance Comparison Chart: A summary table of key differences.
Who is Each Bank Best For?: Helping you match a bank to your specific needs.
Beyond Banking: Unique features offered by each.
The Rise of Digital Challenger Banks
Digital challenger banks have disrupted the UK banking scene by leveraging technology to offer user-friendly, mobile-first experiences. They typically appeal to those comfortable managing their finances entirely online, offering features like instant spending notifications, budgeting tools, easy payments, and often more competitive rates for international transactions.
Meet the Contenders: Starling, Monzo, and Revolut
Starling Bank: Launched its app in 2017, Starling is a UK-licensed bank offering personal, joint, business, and teen accounts. It has won numerous awards for its services, often praised for its strong feature set, transparent fee structure, and ethical approach. It's a B Corp certified company. Starling has consistently been profitable, which is a notable differentiator in the challenger bank space.
Monzo: Founded in 2015 and gaining its full UK banking licence in 2017, Monzo quickly became popular, especially for its distinctive hot coral cards and user-friendly budgeting tools. It offers personal, joint, and business accounts and has a large, active user community. Monzo has expanded its offerings to include borrowing and premium paid-for accounts.
Revolut: Also launched in 2015, Revolut started with a focus on offering competitive exchange rates for international money transfers and spending abroad. It has since expanded into a broader financial platform offering accounts, crypto trading, stock trading (though access to these services can vary by region and account type), commodities, and more. While it has a UK banking licence (obtained in 2021 via Lithuania for European operations, and an e-money licence in the UK for some services), the FSCS protection for its UK e-money accounts has been a key point of difference compared to fully licensed UK banks like Starling and Monzo. However, Revolut has been working towards full UK banking services with FSCS protection for eligible deposits in its UK bank entity.
Feature Deep Dive & Comparison (2025 UK Offerings)
Let's break down what each bank offers:
1. Current Accounts (Personal & Joint)
Starling Bank:
Personal Account: Full UK current account. No monthly fees for standard banking. Interest paid on current account balances up to a certain limit (e.g., 3.25% AER on balances up to £5,000 as of early 2025). Features include spending insights, "Spaces" for saving goals, bill splitting, virtual cards, and a connected card for trusted individuals. Cheque imaging available.
Joint Account: Offers full joint account functionality.
Monzo:
Personal Account: Full UK current account. No monthly fees for standard banking. Features include instant notifications, spending categories, "Pots" for saving goals (with options for interest-earning an
Joint Account: Available with similar features to the personal account.
Revolut:
Standard Account: Offers an e-money account with a UK account number and sort code (for users onboarded to its UK bank entity, this would be a bank account). No monthly fee for the standard plan. Features include budgeting tools, "Vaults" for savings, bill splitting, international transfers, and access to other services like crypto/stock trading (with associated risks and variable regulatory protection). Free plan has limitations on fee-free ATM withdrawals and currency exchange.
Joint Account: Available for managing shared expenses.
2. Fees & Charges (Standard Accounts)
Starling Bank:
Monthly Fee: £0 for personal current account.
UK ATM Withdrawals: Free.
Spending Abroad: No fees for using your card abroad. Mastercard exchange rate.
International ATM Withdrawals: Free.
International Transfers: Uses transparent fees, often lower than traditional banks.
Monzo:
Monthly Fee: £0 for standard personal current account (paid-for tiers like Monzo Premium and Monzo Max offer additional benefits).
UK ATM Withdrawals: Free.
Spending Abroad: No fees for using your card abroad. Mastercard exchange rate.
International ATM Withdrawals: Fee-free up to a certain limit per month (e.g., £200-£250 in the UK/EEA, then a 3% fee. A lower limit may apply for withdrawals outside the EEA, e.g., £200 free per month, then 3% fee). These limits can be higher on paid plans.
International Transfers: Partners with Wise (formerly TransferWise) for transparent, low-cost international payments.
Revolut (Standard Plan):
Monthly Fee: £0. (Paid plans like Premium, Metal, Ultra offer higher limits and more features).
UK/EEA ATM Withdrawals: Fee-free up to a limit (e.g., 5 withdrawals or £200 per rolling month, whichever is reached first, then a 2% fee, min £1).
Spending Abroad: Fee-free spending in over 150 currencies using the interbank exchange rate up to a monthly limit (e.g., £1,000 per month on the Standard plan). A markup applies on weekends (e.g., 1%) and above the monthly limit.
International Transfers: Some fee-free international transfers depending on currency and location; fees apply for others or for faster transfers.
3. Savings Options
Starling Bank:
Interest on current account balance (e.g., 3.25% AER up to £5,000).
"Spaces" for setting aside money, some of which can be configured as Fixed Savers with competitive interest rates for 1-year terms.
Access to a range of fixed-rate savings products through its Marketplace (though this feature has evolved, check current app).
Monzo:
"Pots" for separating money. Offers "Interest Pots" (easy access and fixed term) often via partner banks, with competitive AERs displayed in the app. Some interest may be paid on the main current account balance if you have Monzo Premium/Max or meet certain criteria.
Revolut:
"Vaults" for setting money aside. Offers "Savings Vaults" which can earn daily interest (rates vary by plan and currency). These are often through partner banks or investment funds (Money Market Funds for some currencies/plans, which are investments, not bank deposits).
4. International Usage
Starling Bank: Excellent for travellers. No fees for card spending or ATM withdrawals abroad. Uses Mastercard's exchange rate.
Monzo: Good for travellers. No fees for card spending abroad (Mastercard rate). Fee-free ATM withdrawals abroad are limited (e.g., £200-£250/month, then 3% fee).
Revolut: Strong for multi-currency features. Offers spending in many currencies at the interbank rate (up to a monthly limit on free plan, weekend markups apply). Good for holding multiple currencies. Fee-free ATM withdrawals abroad are more limited on the standard plan.
5. Borrowing (Overdrafts & Loans)
Starling Bank: Offers arranged overdrafts (interest charged, APR varies). Personal loans available for eligible customers (application in-app).
Monzo: Offers arranged overdrafts (interest charged, APR varies, often with a fee cap). Personal loans available for eligible customers (application in-app). Monzo Flex (a buy-now-pay-later type credit product) is also offered.
Revolut: Offers credit products like personal loans and credit cards in the UK to eligible customers (application in-app). APRs vary.
6. Business Accounts
Starling Bank: Strong business account offering. No monthly fees for standard sole trader or limited company accounts (for businesses with under 10 employees and under £10m turnover). Features include invoicing tools, integrations (e.g., Xero, QuickBooks), multi-currency accounts, and access to business loans.
Monzo: Offers Business Lite (free) and Business Pro (£5/month) accounts. Features include tax pots, invoicing, multi-user access (Pro), and integrations.
Revolut: Offers Revolut Business accounts with various plans (including a free tier) catering to freelancers and companies. Features include multi-currency accounts, international payments, expense management, and integrations.
7. App Usability & Interface
Starling Bank: Consistently praised for its clean, intuitive, and feature-rich app. Easy to navigate and manage finances.
Monzo: Known for its user-friendly, visually appealing app with strong budgeting tools and spending categorisation. Easy to understand and engage with.
Revolut: Feature-packed app, which can feel slightly overwhelming for new users due to the sheer number of services offered. However, it's powerful for those who use its broader functionalities.
8. Customer Service
Starling Bank: Offers 24/7 UK-based customer support via in-app chat, phone, and email. Generally receives very high ratings for customer service.
Monzo: Primarily offers support via in-app chat. Phone support is available, especially for urgent issues. Generally well-regarded, though response times can vary during peak periods.
Revolut: Support is primarily via in-app chat. Priority support is offered on paid plans. Phone support is typically reserved for urgent issues like card blocking. Customer service reviews can be more mixed compared to Starling and Monzo, sometimes reflecting the complexity of issues with its broader range of services.
9. FSCS Protection (UK)
Starling Bank: Fully UK licensed bank. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.
Monzo: Fully UK licensed bank. Eligible deposits are protected by the FSCS up to £85,000 per person.
Revolut:
Revolut offers services through different legal entities. For UK customers onboarded to its UK bank entity (Revolut Bank UAB UK Branch), eligible deposits are protected by the Lithuanian Deposit Insurance Scheme up to €100,000 (this protection is not via the UK FSCS directly, but the Lithuanian scheme provides a similar level of protection).
For services provided under its e-money licence in the UK (Revolut Ltd), client funds are safeguarded (held in segregated accounts with partner banks) but are not covered by FSCS.
Plouta Tip: It's crucial for Revolut users to understand which entity their account is with and what protection applies. This has been an evolving situation as Revolut has worked towards full UK banking services.
10. Unique Selling Points (USPs)
Starling Bank: No fees for overseas card use or ATM withdrawals, strong business account, consistent profitability, B Corp status, interest on current account.
Monzo: Excellent budgeting tools and spending insights, user-friendly "Pots" for saving, large community, transparent approach.
Revolut: Strong multi-currency features, access to services beyond banking (crypto, stocks, commodities – these carry significant risk and varying regulatory protection), competitive international transfer rates (within limits).
| Feature | Starling Bank | Monzo | Revolut (Standard Plan) |
|---|---|---|---|
| UK Banking Licence | Yes (Full UK) | Yes (Full UK) | UK Bank entity for some users, E-money for others (check your specific account details) |
| FSCS Protection (UK) | Yes, eligible deposits up to £85,000 per person | Yes, eligible deposits up to £85,000 per person | For UK bank entity deposits, via Lithuanian Deposit Insurance Scheme (up to €100,000). E-money funds are safeguarded but not FSCS protected. |
| Monthly Fee (Standard Account) | £0 | £0 | £0 |
| Interest on Current Account? | Yes (e.g., 3.25% AER on balances up to £5,000 as of early 2025) | Sometimes on paid plans or under specific conditions; Interest Pots available via partner banks | Savings Vaults can earn daily interest (rates vary by plan and currency; may use Money Market Funds which are investments) |
| UK ATM Withdrawals | Free | Free | Free up to 5 withdrawals or £200 per rolling month, whichever is reached first, then a 2% fee (min £1) |
| Card Spending Abroad | Fee-free (Uses Mastercard's exchange rate) | Fee-free (Uses Mastercard's exchange rate) | Fee-free using the interbank exchange rate (up to £1,000/month on Standard plan; markups apply on weekends and above limit) |
| ATM Withdrawals Abroad | Fee-free | Fee-free up to a limit (e.g., £200-£250/month depending on region), then a 3% fee | Fee-free up to £200 per rolling month (or 5 withdrawals), then a 2% fee (min £1) |
| Joint Account Available? | Yes | Yes | Yes |
| Business Account (Free Tier) | Yes (for Sole Traders & eligible Limited Companies) | Yes (Business Lite) | Yes (Freelancer Free plan) |
| Budgeting Tools | Good (Spending Insights, "Spaces" for goals) | Excellent (Spending Categories, "Pots" for goals, Summary, Targets) | Good (Analytics, "Pockets" for goals) |
| International Transfers | Transparent fees, generally competitive | Via Wise integration (transparent, typically low-cost) | Some fee-free transfers depending on currency/destination/plan limits; fees for others. Competitive rates within plan limits. |
| Access to Loans/Overdrafts (UK) | Yes (subject to eligibility) | Yes (subject to eligibility, Monzo Flex available) | Yes (credit products like loans/credit cards subject to eligibility) |
| In-app Crypto/Stock Trading (UK) | No | No (Monzo Investments offers managed funds via BlackRock partnership) | Yes (Cryptocurrency, Stocks, Commodities - carry significant risks and varying regulatory protections. Not available on all plans or to all users.) |
| Customer Service Channels | 24/7 In-app chat, Phone, Email | Primarily In-app chat; Phone support available (especially for urgent issues) | Primarily In-app chat (priority support on paid plans); limited phone support for urgent issues. |
Note: Fees, limits, interest rates, and features are subject to change and were last reviewed based on information available up to June 2025 for the UK market. FSCS protection details for Revolut can be nuanced based on the specific Revolut entity your account is with. Always check directly with the respective banks for the most current and detailed information before making any financial decisions.
Who is Each Digital Bank Best For?
Starling Bank is often best for:
Those wanting a full-featured UK current account with no monthly fees and strong customer service.
Frequent travellers (due to unlimited fee-free overseas spending and ATM withdrawals).
Small business owners and sole traders needing a robust, free business account.
Individuals who appreciate interest on their current account balance.
Those valuing an ethical approach (B Corp).
Monzo is often best for:
Individuals focused on budgeting and tracking spending with intuitive tools.
Those who value a strong community feel and a user-friendly app experience.
People looking for easy ways to save in "Pots" with competitive interest rates via partners.
UK users who primarily bank domestically but want decent fee-free card spending abroad.
Revolut is often best for:
Individuals who frequently manage multiple currencies or make many international money transfers (especially on paid plans with higher limits).
Those interested in accessing a wider range of financial services beyond basic banking, such as cryptocurrencies or stock trading, and understand the associated risks and varying levels of regulatory protection.
Users who travel very extensively and can benefit from interbank exchange rates (within plan limits).
Beyond Banking: Unique Features and Innovations
Starling: Focus on stability, profitability, strong business banking, and ethical credentials. Marketplace for some third-party financial products.
Monzo: "Pots" system is highly intuitive. "Monzo Flex" for buy-now-pay-later. Strong community engagement and transparent product roadmap. Offers "Monzo Investments" with a curated range of funds managed by BlackRock.
Revolut: Broadest range of financial services – beyond banking into crypto, stock trading (commission-free within limits), commodities, travel perks (lounges, insurance on paid plans), and 'Stays' for holiday accommodation booking. This "super app" ambition is its key differentiator but also adds complexity.
Safety and Security: FSCS Protection & More
Starling & Monzo: As fully licensed UK banks, eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person, per institution. This is a crucial safety net. Both also employ advanced security features in their apps.
Revolut: The situation is more nuanced. For UK customers whose deposits are held with Revolut Bank UAB UK Branch, their eligible deposits are protected under the Lithuanian Deposit Insurance Scheme (up to €100,000). For services under its UK e-money licence, funds are safeguarded (kept separate) but not FSCS protected. Always verify the specific protection applicable to your Revolut account and products. Revolut also has strong app security features.
Switching to a Digital Bank: Is it Right for You?
Comfort with Digital-Only: Are you happy managing all your banking via an app, with no physical branches?
Features You Need: Do their offerings match your banking habits and financial goals?
Customer Service Preference: In-app chat is common, though phone support is often available for urgent needs.
Cash & Cheque Handling: Digital banks have improved here. Starling allows cash deposits at Post Offices and cheque imaging. Monzo allows cash deposits via PayPoint (with a fee for standard accounts) and cheque deposits by post or (for some) imaging. Revolut has more limited cash deposit options.
You can use the Current Account Switch Service (CASS) to easily switch to Starling or Monzo if you choose.
Quick Takeaway Points
Starling: Great all-rounder, excellent for travel and business, interest on current account, strong FSCS protection.
Monzo: Superb for budgeting, user-friendly, good savings pots, strong FSCS protection. Fee-free overseas ATM withdrawals are limited.
Revolut: Best for multi-currency needs and access to a wide array of financial services (including higher-risk crypto/stocks). FSCS protection is more complex to understand depending on the account type; fee-free ATM/FX limits are tighter on the standard plan.
Fees Vary: While standard accounts are often free, watch for fees on ATM withdrawals abroad (Monzo/Revolut), currency exchange limits (Revolut), and charges for premium features or specific transactions.
FSCS is Key: Prioritise banks with full FSCS protection for your main current account if deposit security is paramount.
Try Them Out: Many people hold accounts with more than one digital bank to leverage the best features of each.
Conclusion: The Best Digital Bank is Personal to You
In the Starling vs Monzo vs Revolut debate, there's no single "winner" for everyone in 2025. The best choice depends entirely on your individual banking habits, financial goals, and comfort level with digital services.
Choose Starling if: You want a robust, fee-free (for most standard uses) current account from a profitable, ethical bank that’s excellent for travel and business.
Choose Monzo if: Your priority is intuitive budgeting, a slick app experience, and easy ways to save and manage your spending.
Choose Revolut if: You have significant multi-currency needs, want to explore services beyond traditional banking (like crypto or stocks, with caution), or are a frequent international traveller who can navigate its plan limits.
All three have pushed the boundaries of banking in the UK, offering compelling alternatives to traditional players. By understanding their strengths and weaknesses, as outlined in this guide, you can make an informed choice that supports your journey to financial empowerment and freedom.
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Disclaimer: This comparison is for informational purposes only, based on information available for the UK market as of June 2025, and does not constitute financial advice. Account features, fees, interest rates, and regulatory protections can change. Always check the official websites of Starling Bank, Monzo, and Revolut for the most up-to-date information before opening an account or making any financial decisions. When considering investments or services like cryptocurrency or stock trading offered by some platforms, be aware these carry significant risks, and your capital may be at risk. Ensure you understand the specific regulatory protections applicable to any product you choose.