Updated September 28, 2026 · VaultCue Editorial Team
monobank vs Nequi
monobank
Nequi
Higher score in this comparison
Where monobank and Nequi differ
| Compare | monobankReviewSee alternativesSee alternatives | NequiReviewSee alternativesSee alternatives |
|---|---|---|
| Rate type | Fixed | Variable |
| Access terms | Fixed or flexible terms of 3 to 24 months, withdraw or reinvest anytime, auto-renews by default | Nequi savings account for Colombian natural persons over 18, unlimited balance and no transaction cap, one savings account per user, deposit insured by FOGAFIN |
| Monthly fee | UAH 0 | COP 0 |
| Account kind | Fixed | Easy access |
| Headline rate | 16% | Not confirmed |
| Term | 12 to 24 months | Not confirmed |
| Minimum deposit | UAH 1,000 | Not confirmed |
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Key differences
- Support channels: only monobank offers Email.
- Support channels: only Nequi offers Community.
- Pricing model: only monobank offers Fixed rate.
- Pricing model: only Nequi offers No monthly fee.
Our verdict on each
monobank
Monobank offers a headline rate of 16% with a business and freelancer account that costs nothing to run, which suits traders who can leave hryvnia alone for a set term. The trade-off is the minimum you must place and the lock-in, so anyone wanting same-day access should weigh an easy-access account.
Nequi
Nequi suits Colombian adults who want everyday spending and an insured savings balance in a single free account, not readers who need a long currency list. The monthly fee is COP 0, and currency conversion at 3% is the only charge that adds up.
Score breakdown
| Area | monobank | Nequi |
|---|---|---|
| Cost | Not confirmed | 8.2The monthly fee is COP 0 and transfers are free, but conversion at 3% is well above the everyday-accounts median 0.22%. |
| Offer | Not confirmed | 9.1 |
| Trust | Not confirmed | 8.4 |
Licences and countries
| Country | monobank | Nequi |
|---|---|---|
| Colombia | Not confirmed | |
| Ukraine | Not confirmed |
Additional countries for monobank: 1. Additional countries for Nequi: 1.
Where they rank in our lists
| Ranking | monobank | Nequi |
|---|---|---|
| Savings accounts | 1185 of 1420 | 582 of 1420 |
| Business bank accounts | 452 of 563 | 266 of 563 |
| Accounts for freelancers | 110 of 130 | 80 of 130 |
Where these facts come from
monobank
- monobank.ua: 11 facts, checked September 26, 2026
Nequi
- nequi.com.co: 9 facts, checked September 26, 2026
Every fact side by side
| Fact | monobank | Nequi |
|---|---|---|
| Pricing model | Fixed rate | No monthly fee |
| Legal entity | JOINT STOCK COMPANY "UNIVERSAL BANK" | Nequi S.A. Compania de Financiamiento |
| Headquarters | Ukraine | Colombia |
| Founded | Not confirmed | 2015 |
| Support channels | Email, Chat, Phone, Help centre | Phone, Chat, Help centre, Community |
Everyday accounts
| Fact | monobank | Nequi |
|---|---|---|
| Currency conversion fee | 0%Lower | 3% |
| Currencies | 3Higher | 2 |
| Audience | Business, Freelancer | Teen, Business, FreelancerCovers more |
| Features | Digital only | Free ATM |
| Local account details | IBAN | Not confirmed |
| Free ATM withdrawals | UAH 50,000 | Not confirmed |
| Transfer fee | 0 UAH for transfers to any IBAN account | Free (GRATIS) to send to Nequi or Bancolombia accounts/deposits, to other banks via ACH, and by QR |
Money transfer
| Fact | monobank | Nequi |
|---|---|---|
| Exchange rate markup | Not confirmed | 3% |
| Delivery time | Not confirmed | Within 24 hours |
| Payout methods | Not confirmed | Bank, Cash pickup, Wallet |
| Fee to send 1,000 | Not confirmed | COP 0 |
Where each stands against the rest
| Fact | monobank | Nequi | Median |
|---|---|---|---|
| Headline rate | 16%highest quarter | Not confirmed | 3.25% |
| Term | 12 to 24 monthsat the median | Not confirmed | 24 |
| Minimum deposit | UAH 1,000at the median | Not confirmed | UAH 1,000 |
Median across 658 listed accounts.
Pros and cons
monobank
Pros
- A headline rate of 16% on a fixed deposit sits far above PayPal Colombia at 3.3%.
- The monthly fee is UAH 0, and sending money to another IBAN account costs 0 UAH for transfers to any IBAN account.
- Currency conversion is 0%, so converting between currencies costs nothing.
Cons
- The term runs 12 to 24 and the deposit renews itself by default, so a long commitment keeps rolling.
- A minimum deposit of UAH 1,000 has to sit in the account before the balance starts earning.
- The headline rate of 16% is below Plazo ES at 24.19% and AXI Card Tarjeta y Credito at 21.59%.
Nequi
Pros
- Deposits are insured by FOGAFAN, and the balance is unlimited with no transaction cap.
- The account kind is easy access and the savings rate is variable.
- Money can go to a bank, a cash pickup point or a wallet, per bank, cash pickup and wallet.
Cons
- Currency conversion costs 3% with a markup of 3%, above the everyday-accounts fee median of 0.22%.
- Only 2 currencies are supported, against an everyday-accounts median of 9.
- A single savings account per user, and only Colombian natural persons can open it.
Who each suits
monobank
Who it suits
- A Ukrainian business that can leave its balance alone for 12 to 24 and wants the return fixed.
- A freelancer paid by Ukrainian clients who wants local account details in the form of iban.
- A saver who reads the rate before anything else: 16% sits well above the 3% median across the site.
Who should look elsewhere
- Rate chasers: Plazo ES lists 24.19% and AXI Card Tarjeta y Credito 21.59%, both above monobank's 16%.
- Anyone who needs the money on demand, because the term runs 12 to 24 and the deposit renews itself by default. PayPal Colombia at 3.3% is worth weighing for anyone who accepts a much smaller return.
Nequi
Who it suits
- Colombian adults who want savings and everyday spending in a single free account with insured deposits
- People in Nequi's core audience of teen, business and freelancer, from teens to freelancers
- Freelancers in Colombia who take payouts to a bank, a cash pickup point or a wallet, per bank, cash pickup and wallet
Who should look elsewhere
- Readers who hold many currencies: Nequi covers 2 and charges 3% to convert, so Skrill is the one to compare
- Anyone earning or saving in euros rather than pesos, since Plazo ES is priced in euros with a monthly fee of €0
- Readers who want a payment wallet rather than an insured savings balance, since PayPal Colombia also has a $0 monthly fee
Current offers
Nequi
Current offer
Bonus
Tienda Virtual Nequi: Walaky cashback: Up to 7% money back
Devolucion de plata on digital purchases at Walaky through Tienda Virtual Nequi
Source, checked September 26, 2026
Bonus
Tienda Virtual Nequi: Clevercel cashback: Up to 4% cashback
Devolucion de plata on digital purchases at Clevercel through Tienda Virtual Nequi
Source, checked September 26, 2026
Country by country
| Country | monobank | Nequi |
|---|---|---|
| Colombia | No | Yes |
| Ukraine | Yes | No |
Questions about each
monobank
What rate does monobank pay on its deposit?+
The deposit advertises a headline rate of 16% and the rate is fixed, so the figure holds for the whole placement rather than drifting with the market. For context, PayPal Colombia lists 3.3% on its savings product. That gap is the main reason a saver would pick this account.
How long do I have to leave the money in the deposit?+
The published term is 12 to 24 and the rate is fixed for that whole period. Terms can be taken as a fixed stretch or as a flexible one, so the length you sign up for is a choice rather than a single window. Readers who want shorter placements should set this against an easy-access account.
Nequi
What does Nequi cost to keep each month?+
The Nequi savings account carries a monthly fee of COP 0, so there is no standing charge for Colombian adults. Transfers to Nequi or Bancolombia accounts, to other Colombian banks by ACH and by QR are free, with a transfer fee of COP 0.
Is my money protected in a Nequi savings account?+
Deposits in the Nequi savings account are insured by FOGAFIN, and the account kind is easy access. The balance is unlimited with no transaction cap, and the account is open to Colombian natural persons with a single savings account per user.
Other options to compare
Other matchups
Related by the facts
monobank
Nequi