Updated September 29, 2026 · VaultCue Editorial Team
Monzo vs Vivid Money
Monzo
Higher score in this comparison
Vivid Money
Monzo vs Vivid Money: the differences
| Compare | MonzoReviewVisitVisit | Vivid MoneyReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | £0 | €0 |
| Deposit protection | FSCS up to GBP 85,000 | EU DGS up to EUR 100,000 |
| Currencies | 38Higher | 22 |
| Transfer fee | 0 for UK transfers and foreign-currency card spend; international transfer up to GBP 9 fixed plus 0-1.80% | Free |
| Currency conversion fee | Not confirmed | 0.25% |
| Local account details | Not confirmed | IBAN |
| Free ATM withdrawals | £200 | Not confirmed |
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Key differences
- Monzo scores higher overall: 8.9 vs 8.8.
- Founded is lower at Monzo: 2015 vs 2019.
- Vivid Money is licensed in 1 more country.
- Currencies is higher at Monzo: 38 vs 22.
- Support channels: only Vivid Money offers Chat.
- Features: only Monzo offers Joint account.
- Features: only Vivid Money offers Digital only.
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.
Vivid Money
Vivid Money suits people who want everyday spending plus savings in the same app without monthly upkeep, with the standard plan priced at €0 a month. Cash stays within instant access pockets that suit flexible savers who also move money across currencies for travel or daily life abroad.
Score breakdown
| Area | Monzo | Vivid Money |
|---|---|---|
| Cost | 9.3HigherCurrent account monthly fee of £0 and a 0% exchange rate markup on foreign-currency card spend. | 9.2Conversion priced at 0.25% keeps cross currency spend modest versus broader market levels |
| Offer | 9.2HigherInstant-access savings paying 2.75% to 3.5% variable, instant withdrawals, a joint account, 38 currencies and a free cash machine allowance. | 9.1Interest pocket pays 3% on instant access balances with low entry threshold |
| Trust | 8.4Higher | 8.3Eligible balances covered by EU DGS up to EUR 100,000 with licensed EU supervision |
Availability and regulation
| Country | Monzo | Vivid Money |
|---|---|---|
| Luxembourg | Not confirmed | |
| Netherlands | Not confirmed | |
| United Kingdom | Financial Conduct Authority 730427 | Not confirmed |
What we checked
Monzo
- monzo.com: 11 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Vivid Money
- vivid.money: 10 facts, checked September 29, 2026
- esma.europa.eu: 2 facts, checked September 28, 2026
How they place
| Ranking | Monzo | Vivid Money |
|---|---|---|
| Savings accounts | 29 of 1420 | 496 of 1420 |
Every fact side by side
| Fact | Monzo | Vivid Money |
|---|---|---|
| Audience | Business, Teen | Not confirmed |
| Pricing model | No monthly fee | No monthly fee |
| Features | Joint account | Digital only |
| Legal entity | Monzo Bank Limited | Vivid Money B.V. |
| Headquarters | United Kingdom | Netherlands |
| Founded | 2015Lower | 2019 |
| Support channels | Help centre | Chat, Help centreCovers more |
Savings
| Fact | Monzo | Vivid Money |
|---|---|---|
| Headline rate | 2.75% to 3.5%Higher | 3% |
| Rate type | Variable | Fixed |
| Minimum deposit | £0 | €0.010 |
| Access terms | Instant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+ | Instant access |
| Account kind | Easy access | Easy access |
| Regulators | Not confirmed | Commission de Surveillance du Secteur Financier (CSSF), Dutch Authority for Financial Markets (AFM), Netherlands Authority for the Financial Markets (AFM) |
Money transfer
| Fact | Monzo | Vivid Money |
|---|---|---|
| Exchange rate markup | 0% | Not confirmed |
| Delivery time | Same day for 95% of customers, average 1 day | Not confirmed |
| Payout methods | Bank, Card | Not confirmed |
| Fee to send 1,000 | £0 to £9 | Not confirmed |
Where each stands against the rest
| Fact | Monzo | Vivid Money | Median |
|---|---|---|---|
| Currency conversion fee | Not confirmed | 0.25%below the median | 0.5% |
| Currencies | 38highest quarter | 22highest quarter | 5 |
| Free ATM withdrawals | £200above the median | Not 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
Vivid Money
Pros
- Transfers cost free, which keeps routine euro moves easy to budget
- Supports 22 currencies and issues IBAN for getting paid across borders
- Savings start from €0.01 with withdrawals under Instant access for flexible access
Cons
- Support runs on chat and help centre only, so callers must use chat or articles
- Account is digital only through digital only, with no branch option for cash service
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
Vivid Money
Who it suits
- Travellers and expats holding balances across currencies
- Flexible savers wanting instant access pockets in the same app
- App led users happy with chat based service
Who should look elsewhere
- Consider bunq if conversion cost matters most and you want to compare against 3%
- Consider Bit2Me if crypto linked services matter and you want to compare against 0.95%
- Consider eToro if trading features matter and you want to compare upkeep against £0
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
Country by country
| Country | Monzo | Vivid Money |
|---|---|---|
| United Kingdom | Yes | No |
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.
Vivid Money
What does Vivid Money charge for the account+
The standard plan is priced at €0 a month, which keeps upkeep predictable for everyday use. Transfers are listed at free, while currency conversion is listed at 0.25% for cross currency moves.
How many currencies can you hold+
Vivid Money supports 22 currencies, which helps if you hold balances for travel or pay across borders. Local euro details come through IBAN, making it easier to receive salary or transfers within the region.
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