Fee and stress free digital banking
Free yourself from fees. Save in clever new ways, with up to 4.25% APY. And organize all your money in one mobile banking app.
Banking services provided by Sutton Bank, Member FDIC, pursuant to a licence from Mastercard International Incorporate.
Packed with the best of Monzo
Zero hidden fees
Monzo means no minimum balance fee, no monthly subscription, no transfer fees, and no joining fees. We’ll stop there, but you get the picture.
No waiting around
Opening an account takes minutes. And once you have Monzo, you can take care of admin – like changing your details or freezing your card – in seconds.
Earn up to 4.25% APY on savings
No catch, no small print. Just instant access savings and smart tools to help you reach your goals faster.
Join over 10 million people on Monzo
Download the Monzo app on iOS or Android and transform how you money.
Earn 9X more interest*
Create Jars to separate your savings from your balance, and earn up to 4.25% APY on each Jar with a qualifying direct deposit.**
Customize each Jar with a name, picture, and target. So how you save feels a lot less stressful, and a lot more you.
Join up your financial life
Save yourself switching between countless apps and accounts. Add all your bank accounts and credit cards to your Monzo.
Then use weekly and monthly spend insights to see your money in a whole new light.
Wave goodbye to spreadsheets
Instant notifications that track your spending. A Salary Sorter that sorts your money for you. And Expense Jars that automate bills.
It really is that simple.
You ask for it, we build it
We build things our customers actually ask for – like a Tip Tracker that works out tips for you and updates your balance in real time.
FDIC protection meets cutting-edge security
All your eligible deposits in Monzo are protected by the FDIC up to $250,000.** And we use advanced security features, like Biometrics and PIN protection, to give you extra peace of mind.
*What’s the national average interest rate?
The national average interest rate for savings accounts is 0.45% as posted on FDIC.gov, as of July 15, 2024.
**What’s a qualifying direct deposit?
An ACH deposit of $250 or more to your Monzo account
Deposit is made by your employer or payroll provider for payroll or pension payments
Or by a government agency for benefit payments (e.g., Social Security)
***How does FDIC insurance work?
Your funds are held at Sutton Bank, Member FDIC. Though Monzo is not an insured bank, money in your Monzo account benefits from pass-through FDIC insurance that would protect up to $250,000 in the unlikely event that Sutton Bank failed.
Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply, which you can learn more about here.
Open a free account
Download on iOS or Android and join more than 10 million people who've made their money more Monzo.