Compare Monese vs Koho to make an informed decision for your financial needs. Whether you're interested in mobile banking, unique features, or specific benefits, this comparison will help you navigate some of the differences between Monese and Koho.
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Monese and Koho are both mobile banks that offer a range of banking services through their mobile apps. Monese is available in the UK and the European Economic Area (EEA), while Koho is only available in Canada.
Both banks offer a range of features including spending tracking, budgeting tools, and international money transfers. Monese allows its users to open a bank account without a local address, making it a popular choice for expats and travellers. Koho offers cashback rewards and has partnered with various merchants to provide discounts on purchases made with their cards.
One notable difference between the two is that Monese offers a free plan, while Koho only offers paid plans. Monese's free plan offers basic features such as a UK current account and a European IBAN account, but has limits on international transfers and ATM withdrawals. Koho's plans offer more advanced features such as joint accounts, higher transaction limits, and cashback rewards, but come with a monthly fee.
Overall, both Monese and Koho offer solid mobile banking options for their respective markets. Monese may be a better fit for those in need of a basic and free account, while Koho may be more appealing for those looking for advanced features and rewards programs.