Monzo vs NatWest
Updated November 2026 · AppBreakup editorial
Monzo
UK app-based bank with budgeting Pots, fee-free spending abroad and paid plan upgrades.
NatWest
UK high street bank with a widely used app for everyday banking, saving and credit score checks.
The short answer
Monzo is an app-only bank focused on budgeting, with Pots, salary sorting and no Monzo fees on card spending abroad. NatWest is a high street bank whose app adds Round Ups, a Subscription Manager and a credit score check, with branches, mortgages and ISAs behind it. Pick Monzo for phone-first budgeting and travel; pick NatWest for a mainstream bank with family accounts and branches.
Monzo or NatWest: our take
Both banks offer a free standard current account, apps for iPhone and Android, online banking on the web and deposit protection up to £120,000. The difference is in what sits around the app. Monzo is built entirely around its app: instant notifications, Pots for setting money aside, a salary sorter that splits pay into bills and savings, bill-splitting with other Monzo users and 24/7 in-app support. NatWest is a traditional bank with branches, mortgages and ISAs, and its app has grown its own budgeting features: Round Ups that move spare change into savings, a Subscription Manager that lists recurring payments and helps spot unexpected Direct Debits, a built-in credit score check, and MyRewards on eligible spending.
Travel is a clear split. Monzo charges no fees of its own on card spending abroad, while spending abroad with NatWest usually costs more. On the other hand, paying cash into Monzo costs a fee at PayPoint or the Post Office, which branch-based banks avoid. Monzo is only open to UK residents; the NatWest app needs a UK mobile number or one from a short list of countries.
For families, NatWest has child and teen accounts, a pocket money app and an app usable from age 11. Monzo has accounts for under-16s and 16–17-year-olds, plus joint accounts. Paid tiers exist on both sides: Monzo's plans start from £3 a month, while NatWest's Reward account starts at £2 a month, with Reward Silver at £12 a month and Reward Platinum at £23 a month adding more benefits.
People who want fine control over everyday spending and plan to use their card abroad will find more in Monzo. People who want a mainstream bank with branches, mortgages and family accounts, plus handy tools like subscription tracking and a credit score, will be comfortable with NatWest.
Which should you pick?
Choose Monzo if…
- UK residents who want a phone-first bank account with strong budgeting tools
- Pots and salary sorting make budgeting simple
- No fees from Monzo on card spending abroad
Choose NatWest if…
- UK customers who want a mainstream bank with Round Ups, subscription tracking and a credit score in-app
- Subscription Manager helps catch forgotten recurring payments
- Round Ups and a built-in credit score check
About each app
What is Monzo?
Monzo is a UK bank you run entirely from its app. The free personal current account comes with a debit card, instant spending notifications, Pots for setting money aside, a salary sorter that splits pay into bills and savings, bill-splitting with other Monzo users, and no fees for spending abroad. Joint accounts and accounts for under-16s and 16–17-year-olds are available, along with savings accounts, ISAs, investments, loans, a credit card and business accounts. Paid monthly plans (Extra, Perks and Max) add advanced budgeting tools, better savings rates, perks and insurance bundles. Eligible deposits are protected by the UK's FSCS scheme, and support is available around the clock in the app. Accounts are only open to UK residents. It suits people in the UK who want detailed control of everyday spending and saving from their phone.
What is NatWest?
NatWest is a large UK high street bank, part of NatWest Group, and its app is the main way customers bank with it. Beyond balances and payments, the app checks your credit score, rounds up card spending to the nearest pound into savings, and has a Subscription Manager that lists recurring payments and helps spot unexpected Direct Debits. You can approve payments with face or voice checks and earn MyRewards on eligible spending. NatWest also offers child and teen accounts and a pocket money app, so the app works for families as well as adults. It fits people who want a traditional bank with branches, mortgages and ISAs but expect a capable app. Standard current accounts have no monthly fee, while premier and reward accounts add benefits for eligible customers. The app runs on iOS and Android for customers aged 11 and over, with online banking on the web.
Side by side
| Attribute | Monzo | NatWest |
|---|---|---|
| Pricing | Free plan + paid | Free plan + paid |
| Open source | No | No |
| Self-hostable | No | No |
| Platforms | iOS, Android, Web | iOS, Android, Web |
| Best for | UK residents who want a phone-first bank account with strong budgeting tools | UK customers who want a mainstream bank with Round Ups, subscription tracking and a credit score in-app |
| Status | Active | Active |
Verified facts, compared
Facts both apps publish, checked on each vendor's own site.
| Fact | Monzo | NatWest |
|---|---|---|
| Free plan | Yes, Monzo Free (16+) | Yes, Select account with no monthly fee |
| Starting price | £3 a month (Extra) | £2 a month (Reward account) |
| Deposit protection | FSCS up to £120,000 | Up to £120,000 |
Monzo vs NatWest pricing
Monzo: free plan + paid
- Paid plans: From £3 a month source
- Free plan: Yes, Monzo Free (16+) source
- Starting price: £3 a month (Extra) source
- Perks plan: £9 a month source
- Max plan: From £19 a month, 3 months minimum source
NatWest: free plan + paid
- Starting price: £2 a month (Reward account) source
- Free plan: Yes, Select account with no monthly fee source
- Reward Silver plan: £12 a month source
- Reward Platinum plan: £23 a month source
Platforms
| Platform | Monzo | NatWest |
|---|---|---|
| Web | ||
| iOS | ||
| Android |
Monzo facts
8 of 8 verified- Paid plans
- From £3 a month
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “from £3 a month Compare plans Why Monzo?”
- Eligibility
- UK residents only
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “Open a free Monzo account Compare current accounts and plans UK residents only.”
- Customers
- 16 million
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “16 million customers bank with Monzo”
- Free plan
- Yes, Monzo Free (16+)
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “Get Monzo Free 16+ Get Extra £3 a month”
- Starting price
- £3 a month (Extra)
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “Get Extra £3 a month”
- Max plan
- From £19 a month, 3 months minimum
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “From £19 a month • 3 months minimum”
- Deposit protection
- FSCS up to £120,000
- Checked Nov 8, 2026monzo.com(opens source in a new tab)
- “FSCS protected Your eligible money in Monzo is protected by the FSCS up to £120,000 per person.”
NatWest facts
9 of 9 verified- Daily app users
- Over 10 million
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “No wonder over 10 million customers use it every day.”
- Minimum age
- 11
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Our app is available to customers aged 11+ using compatible iOS and Android devices.”
- Subscription tracking
- Yes
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Track subscriptions Subscription Manager helps you manage recurring payments and quickly spot unusual Direct Debits.”
- Round Ups
- Yes
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Save as you spend Round up purchases to the nearest pound with Round Ups.”
- Deposit protection
- Up to £120,000
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Eligible deposits in current and savings accounts up to a total of £120,000”
- Starting price
- £2 a month (Reward account)
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Information Message £2 monthly fee.”
- Free plan
- Yes, Select account with no monthly fee
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Select account offers no monthly fee.”
- Reward Silver plan
- £12 a month
- Checked Nov 8, 2026natwest.com(opens source in a new tab)
- “Reward Silver £12 monthly fee European travel insurance.”
- Reward Platinum plan
- £23 a month
- Checked Nov 3, 2026natwest.com(opens source in a new tab)
- “Information Message Continue to Reward Silver Open in new window Reward Platinum £23 monthly fee Worldwide family travel insurance.”
Pros and cons of Monzo
- Pots and salary sorting make budgeting simple
- No fees from Monzo on card spending abroad
- FSCS deposit protection like a high-street bank
- 24/7 in-app support
- Only open to UK residents
- Paying in cash costs a fee at PayPoint or the Post Office
- Best savings rates and some tools need a paid plan
Pros and cons of NatWest
- Subscription Manager helps catch forgotten recurring payments
- Round Ups and a built-in credit score check
- Used by more than 10 million customers a day, so it's well tested
- Child and teen accounts plus a pocket money app
- Spending abroad usually costs more than with Monzo, Starling or Wise
- Some rewards need a qualifying account or paid package
- App needs a UK mobile number, or one from a short list of countries
Other apps to consider
YNABInstead of Monzo
If you mainly use Monzo for budgeting, YNAB gives envelope-style budgets across any bank you use.
WiseInstead of Monzo
Holds and converts 40+ currencies at the mid-market rate, better for people who live or earn across borders.
BarclaysInstead of Monzo
A full-service high street bank if you want branches, mortgages and investing alongside the app.
Monzo vs NatWest: common questions
Is Monzo better than NatWest?
Monzo is an app-only bank focused on budgeting, with Pots, salary sorting and no Monzo fees on card spending abroad. NatWest is a high street bank whose app adds Round Ups, a Subscription Manager and a credit score check, with branches, mortgages and ISAs behind it. Pick Monzo for phone-first budgeting and travel; pick NatWest for a mainstream bank with family accounts and branches.
Is Monzo free?
Monzo has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is NatWest free?
NatWest has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is Monzo or NatWest open source?
Neither is open source.
Which platforms do Monzo and NatWest support?
Monzo: iOS, Android and Web. NatWest: iOS, Android and Web.