Compare Monese and Revolut

How do Monese and Revolut compare?

Monese and Revolut are two of the most well-known mobile banks in Europe, offering a range of features and benefits to their customers.

Both Monese and Revolut offer multi-currency accounts, allowing customers to hold and exchange multiple currencies with ease, as well as providing a range of banking services, such as budgeting tools and direct debits. However, there are some key differences between the two.

Monese is geared towards those who may have difficulty opening a traditional bank account due to a lack of credit history or residency, with its accounts available to anyone with a valid ID. In contrast, Revolut requires customers to pass a Know Your Customer (KYC) check to open an account, and is primarily focused on offering low-cost international money transfers and foreign currency exchange.

Revolut also offers a range of premium accounts with additional benefits such as travel insurance, airport lounge access, and exclusive offers from partner companies, while Monese's premium account offers benefits such as cashback and higher transaction limits.

In terms of fees, Monese offers a free basic account with limited features, while Revolut offers a free account with more features and a premium account with additional benefits for a monthly fee.

Overall, both Monese and Revolut offer a range of services and benefits to their customers, but their focus and target audience differ slightly. Customers looking for a wider range of premium benefits may prefer Revolut, while those who have difficulty opening a traditional bank account may find Monese more accessible.