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Updated September 28, 2026 · VaultCue Editorial Team

Monzo vs Skrill

Monzo scores 8.9 and Skrill 9.0 out of 10. Compare their differences and shared features below.
Monzo

Monzo

8.9/10
Visit
Skrill

Skrill

Higher score in this comparison

9.0/10
Visit

What sets them apart

Monzo vs Skrill
CompareMonzoMonzoReviewVisitVisitSkrillSkrillReviewVisitVisit
Monthly fee£0€0
Deposit protectionFSCS up to GBP 85,000EU DGS up to EUR 100,000
Currencies3847Higher
Transfer fee0 for UK transfers and foreign-currency card spend; international transfer up to GBP 9 fixed plus 0-1.80%Skrill to Skrill 2.99% (min EUR 0.50); Skrill Money Transfer by bank transfer zero fees; international transfer up to 4.99% incl. exchange rate mark-up
Licence typeNot confirmedE money
Currency conversion feeNot confirmed3.99%
Free ATM withdrawals£200Not 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

  • Skrill scores higher overall: 9.0 vs 8.9.
  • Founded is lower at Skrill: 2001 vs 2015.
  • Skrill is licensed in 2 more countries.
  • Skrill is available in 3 more countries.
  • Currencies is higher at Skrill: 47 vs 38.
  • Support channels: only Skrill offers Email, Phone.
  • Audience: only Monzo offers Teen.
  • Audience: only Skrill offers Expats, Travelers.

Our verdict on each

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

Skrill

Skrill suits expats, travellers and businesses who want many currencies and no monthly charge, with the monthly fee at €0 and 47 currencies. The trade-off is the pace and cost of moving money: international transfers land in 24 - 72 hours and conversion costs 3.99% on top.

Read the full Skrill review

Score breakdown

Monzo vs Skrill
AreaMonzoSkrill
Cost9.3HigherCurrent account monthly fee of £0 and a 0% exchange rate markup on foreign-currency card spend.8.7Cost is the weak side: 3.99% to convert, a fee set on the amount sent for transfers, and a mark-up of 4.99% on international ones.
Offer9.2Instant-access savings paying 2.75% to 3.5% variable, instant withdrawals, a joint account, 38 currencies and a free cash machine allowance.9.6HigherOffer is strong: 47 currencies, EU deposit protection of EU DGS up to EUR 100,000 and support on help centre, email and phone.
Trust8.48.9Higher

Licences and countries

Monzo vs Skrill
CountryMonzoSkrill
United Kingdom
IrelandNot confirmed
IE_CBI PSD_EMI IE_CBI!C184986
United StatesNot confirmed

Available in 1 country for both. Additional countries for Skrill: 3.

How they place

Monzo vs Skrill
RankingMonzoSkrill
Business bank accounts17 of 5637 of 563
Money transfer services15 of 15644 of 1564

Every fact side by side

Monzo vs Skrill
FactMonzoSkrill
AudienceBusiness, TeenExpats, Travelers, Business
Pricing modelNo monthly feeNo monthly fee
FeaturesJoint accountNot confirmed
Legal entityMonzo Bank LimitedPaysafe Payment Solutions Limited
HeadquartersUnited KingdomIreland
Founded20152001Lower
Support channelsHelp centreHelp centre, Email, PhoneCovers more

Savings

Monzo vs Skrill
FactMonzoSkrill
Headline rate2.75% to 3.5%Not confirmed
Rate typeVariableNot confirmed
Minimum deposit£0Not confirmed
Access termsInstant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+Not confirmed
Account kindEasy accessNot confirmed

Money transfer

Monzo vs Skrill
FactMonzoSkrill
Exchange rate markup0%Lower4.99%
Delivery timeSame day for 95% of customers, average 1 day24 - 72 hours
Payout methodsBank, CardBank, Card, WalletCovers more
Fee to send 1,000£0 to £9€0

Where each stands against the rest

Monzo vs Skrill
FactMonzoSkrillMedian
Currency conversion feeNot confirmed3.99%highest quarter0.5%
Currencies38highest quarter47highest quarter5
Free ATM withdrawals£200above the medianNot confirmed£0

Median across 536 listed accounts.

Pros and cons

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

Skrill

Pros

  • The monthly fee is €0, the same as Starling Personal Account Debit Card at £0, so the wallet costs nothing to keep open.
  • The stated audience covers expats, travelers and business, so expats, travellers and businesses are the groups the service is built around.
  • 47 currencies sit in one wallet, well above the site median of 5.

Cons

  • Currency conversion costs 3.99%, against 0% at AXI Card Tarjeta y Credito and 0.5% at XTB.
  • An exchange rate mark-up of 4.99% can be added to international transfers on top of the fee.
  • The currency conversion fee ranking puts it at 297 out of 312, so exchange is the weak spot.

Who each suits

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

Skrill

Who it suits

  • Expats and travellers who need to hold and send money in several currencies, with 47 available.
  • Businesses paying suppliers abroad that want no monthly charge, since the monthly fee is €0.
  • People who want help on a stuck transfer, since support covers help centre, email and phone.

Who should look elsewhere

  • Readers who convert money often, since AXI Card Tarjeta y Credito charges 0% to convert against 3.99% here.
  • People hunting for the lowest exchange cost, who would find XTB's 0.5% conversion fee easier to weigh.

Current offers

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

Skrill

Current offer

  • Bonus

    Final Score: Up to EUR 10,000 every week

    6 matches, 6 predictions; free to play; get all 6 right to win EUR 10,000; log in or register; T&Cs apply

    Source, checked September 26, 2026

Country by country

Monzo vs Skrill
CountryMonzoSkrill
BrazilNoYes
IrelandNoYes
United StatesNoYes
United KingdomYesYes

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.

Skrill

How much does it cost to keep a Skrill account?+

The monthly fee is €0 and the account is sold as no monthly fee, so holding the wallet costs nothing each month. A bank transfer through Skrill Money Transfer is free, while a transfer to another Skrill wallet takes a fee set on the amount sent and an international transfer can cost more.

What does it cost to change currency?+

Converting between currencies costs 3.99%, and an exchange rate mark-up of 4.99% can apply on international transfers on top. AXI Card Tarjeta y Credito lists 0% for conversion and XTB lists 0.5%, so a wallet holding a single currency costs far less to change.

Other options to compare

Monzo

Visit

Skrill

Visit