ZEN Review

Company background

ZEN is a safeguarded e-money institution, founded in 2019, headquartered in Poland, operating under ZEN.COM. ZEN leans into rewards and multi-currency spending for cross-border shoppers, with a money-back guarantee that few rivals match. We rate it best for cross-border shoppers. At its core it is a 32-currency account you run entirely from your phone, bundling multi-currency balances, business accounts and joint accounts into one app.

Fees and pricing

On day-to-day costs, ZEN charges no monthly account fee, and applies a 0% markup on foreign-currency spending.

• Monthly fee: no monthly account fee.
• FX markup: 0% on spending outside your currency.
• ATM withdrawals: free up to 100 EUR a month, then 2%.
• Savings: no in-app savings interest.
• Welcome offer: money-back guarantee on eligible card purchases.

For everyday domestic use the running cost is effectively nil, so the figure that matters most is how often you spend or withdraw in another currency.

Regulation and safety

ZEN operates as a safeguarded e-money institution, regulated by Bank of Lithuania. Customer funds are held in segregated safeguarding accounts (Safeguarded (Lithuanian EMI licence)) rather than under a deposit-guarantee scheme. Safeguarding ring-fences your money from the firm's own funds, but there is no deposit-guarantee payout, so it suits spending and transfers more than parking large balances.

Platform experience

ZEN is available across iOS, Android and Web. The mobile apps score 4.4/5 on the App Store and 4/5 on Google Play. Payments run on a Mastercard physical and virtual card, and it works with Apple Pay and Google Pay.

Pros and cons

On the plus side, purchase money-back rewards on card spending, holds and converts 30+ currencies and quick onboarding for shoppers and small businesses. The main trade-offs are safeguarded e-money rather than a banking licence and no in-app savings interest. On balance it is a comfortable pick best for cross-border shoppers, provided its limitations line up with how you actually bank.