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Updated October 14, 2026 · VaultCue Editorial Team

Mercury vs Monzo

Mercury scores 8.8 and Monzo 8.9 out of 10. Compare their differences and shared features below.
Monzo

Monzo

Higher score in this comparison

8.9/10
Visit
Mercury

Mercury

8.8/10
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Mercury vs Monzo: the differences

Mercury vs Monzo
CompareMercuryMercuryReviewSee alternativesSee alternativesMonzoMonzoReviewVisitVisit
Monthly fee$0£0
Deposit protectionFDIC up to USD 250,000FSCS up to GBP 85,000
Currencies40Higher38
Free ATM withdrawals$0£200
Transfer feeACH and domestic wires free; USD international wires free, OUR option $15; non-USD international wires 1% FX fee0 for UK transfers and foreign-currency card spend; international transfer up to GBP 9 fixed plus 0-1.80%
Currency conversion fee1%Not confirmed
Local account detailsUs ACHNot confirmed

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Key differences

  • Monzo scores higher overall: 8.9 vs 8.8.
  • Founded is lower at Monzo: 2015 vs 2017.
  • Currencies is higher at Mercury: 40 vs 38.
  • Support channels: only Mercury offers Email, Chat.
  • Audience: only Mercury offers Freelancer.
  • Audience: only Monzo offers Teen.
  • Features: only Mercury offers Free ATM.

Our verdict on each

Mercury

Mercury in the United States is a fintech business-account platform with cards, invoicing, bill pay and spend management. It offers team access roles and syncs transactions with QuickBooks Online, Xero and NetSuite; partner banks remain distinct from Mercury.

Read the full Mercury review

Monzo

Monzo suits UK residents who want a fee-free current account, a linked instant-access savings pot and card spending abroad without a markup. The current account runs a monthly fee of £0, savings pay 2.75% to 3.5% variable, and deposits are covered by the FSCS: FSCS up to GBP 85,000.

Read the full Monzo review

Score breakdown

Mercury vs Monzo
AreaMercuryMonzo
Cost9.1Monthly fees of $0 and a minimum deposit of $0; the site conversion median is 0.5% and Mercury's is 1%.9.3HigherCurrent account monthly fee of £0 and a 0% exchange rate markup on foreign-currency card spend.
Offer9.2An easy-access easy access balance for business and freelancer, paying 3.5% that is variable, with free ATM use and joint accounts.9.2Instant-access savings paying 2.75% to 3.5% variable, instant withdrawals, a joint account, 38 currencies and a free cash machine allowance.
Trust8.38.4Higher

If neither fits

Skrill has currencies at 47, against 40 for Mercury and 38 for Monzo.

Skrill review

How they place

Mercury vs Monzo
RankingMercuryMonzo
Savings accounts472 of 142029 of 1420
Business bank accounts201 of 56317 of 563

Every fact side by side

Mercury vs Monzo
FactMercuryMonzo
AudienceBusiness, FreelancerBusiness, Teen
Pricing modelNo monthly feeNo monthly fee
FeaturesFree ATM, Joint accountCovers moreJoint account
Legal entityMercury Technologies, Inc.Monzo Bank Limited
HeadquartersUnited StatesUnited Kingdom
Founded20172015Lower
Support channelsEmail, Chat, Help centreCovers moreHelp centre

Savings

Mercury vs Monzo
FactMercuryMonzo
Headline rate3.5%2.75% to 3.5%
Rate typeVariableVariable
Minimum deposit$0£0
Access termsOn-demand access: unlimited USD wires, ACH, real-time payments and checks between personal, joint and trust accountsInstant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+
Account kindEasy accessEasy access

Money transfer

Mercury vs Monzo
FactMercuryMonzo
Exchange rate markupNot confirmed0%
Delivery timeNot confirmedSame day for 95% of customers, average 1 day
Payout methodsNot confirmedBank, Card
Fee to send 1,000Not confirmed£0 to £9

Where each stands against the rest

Mercury vs Monzo
FactMercuryMonzoMedian
Currency conversion fee1%above the medianNot confirmed0.5%
Currencies40highest quarter38highest quarter5

Median across 536 listed accounts.

Pros and cons

Mercury

Pros

  • Business tools and accounting integrations are described.

Cons

  • Mercury is a fintech platform, not itself a bank
  • partner-bank protections are not platform guarantees.

Monzo

Pros

  • No monthly fee on the current account: £0
  • No exchange rate markup on foreign-currency card spend: 0%
  • Savings pay a variable rate of 2.75% to 3.5% with instant withdrawals and interest paid monthly

Cons

  • Support runs on help centre only
  • Savings need a Monzo current account first, and the pot sits in an easy access product
  • International transfers charge £0 to £9 plus a percentage, unlike UK transfers and foreign-currency card spend, which cost nothing

Who each suits

Mercury

Who it suits

  • US businesses comparing account-management, team-access and accounting-sync tools.

Who should look elsewhere

  • Businesses requiring Mercury itself to be the deposit-taking bank or a platform-level protection guarantee.

Monzo

Who it suits

  • UK adults and teens who want everyday spending with no monthly cost
  • Savers who want instant access to their money without a notice period
  • Travellers who spend abroad often, given the 0% markup and 38 currencies

Who should look elsewhere

  • Anyone chasing a fixed-term rate, since the savings rate is variable and money comes out instantly
  • People who want phone or email help, because support runs on help centre only
  • Shoppers who only need a wallet for online payments can look at PayPal Colombia instead, where the monthly fee is $0

Current offers

Mercury

Current offer

  • First period offer

    Mercury Plus first month waived on annual pricing: $35/mo waived until Dec 31, 2026

    Mercury Plus plan billed annually (15% off)

    Source, checked September 26, 2026

  • Bonus

    Xero and Amazon gift card with Mercury Plus and Pro: 6 months free Xero + $100 Amazon gift card

    Mercury Plus or Mercury Pro plan; Xero/Amazon terms apply

    Source, checked September 26, 2026

  • Bonus

    Mercury Personal included with any business plan: $240/year Personal subscription covered

    Requires an active Mercury business account in good standing

    Source, checked September 26, 2026

Monzo

Current offer

  • Free trial

    3 month free trial of YouTube Premium Lite included with the Max plan: 3 months free YouTube Premium Lite

    Max plan subscribers, aged 18-69, 3 month minimum term, UK residents, Ts&Cs apply

    Source, checked September 26, 2026

Country by country

Mercury vs Monzo
CountryMercuryMonzo
United KingdomNoYes
United StatesYesNo

Questions about each

Monzo

What does Monzo charge each month?+

The current account has a monthly fee of £0, and the pricing model it runs on is no monthly fee. The savings side carries no monthly charge either, with a minimum deposit of £0. The legal entity behind both is Monzo Bank Limited.

Is my money protected?+

Deposits are covered by the FSCS: FSCS up to GBP 85,000. In the UK the account is regulated by the Financial Conduct Authority and the Prudential Regulation Authority, so it is a bank rather than an e-money wallet. The legal entity is Monzo Bank Limited, based in the United Kingdom.

What interest do I get on savings?+

The instant-access savings pay a variable rate of 2.75% to 3.5%, with interest paid monthly. Withdrawals are instant with no limits, the account kind is easy access, and the minimum deposit is £0, so money moves in and out as often as you like.

What does it cost to spend or send money abroad?+

Foreign-currency card spend and UK transfers cost nothing, and the exchange rate markup is 0%. International transfers carry fees of £0 to £9 plus a percentage on the amount sent, and the account holds 38 currencies.

Other options to compare

Monzo

Visit

Mercury

See alternatives