Compare Bunq and Monzo

How do Bunq and Monzo compare?

Bunq and Monzo are two popular mobile banking options that provide unique features and services to their customers.

Bunq is a European-based mobile bank that focuses on advanced digital banking features and sustainability. They offer personal and business accounts with features like real-time notifications, instant money transfers, and multi-currency support. Bunq allows users to create sub-accounts for specific savings goals and offers integrations with popular payment platforms like Apple Pay and Google Pay. Sustainability is a key focus for Bunq, and they even offer features like tree planting with each transaction.

Monzo, on the other hand, is a UK-based mobile bank that prides itself on providing a transparent and user-friendly banking experience. They offer personal accounts with features like instant notifications, budgeting tools, and spending analytics. Monzo allows users to set financial goals, split bills, and make fast and easy money transfers. They also provide a user-friendly mobile app with helpful features like spending categorization and savings pots.

In terms of fees, Bunq operates on a subscription-based model with different pricing tiers offering various features and services. Monzo offers free basic accounts with optional premium plans for additional benefits.

Overall, Bunq is suitable for individuals seeking advanced digital banking features and a sustainable approach, while Monzo excels in providing a user-friendly and transparent banking experience with helpful budgeting tools. The choice between the two would depend on individual preferences, specific banking needs, and whether one prioritizes advanced features or a straightforward banking experience.