Monzo vs Starling vs Revolut: The Definitive 2026 Verdict
All three are now fully licensed UK banks with FSCS-protected deposits. Here's how Monzo, Starling, and Revolut actually compare on fees, cash deposits, savings rates, and features in 2026.
All three started as "just an app" a decade ago. In 2026 they're full UK banks with FSCS protection, savings pots paying real interest, and increasingly different ideas about what a bank account should actually do. Here's how Monzo, Starling, and Revolut compare once the marketing settles down.
Key Takeaways
All three are now fully licensed UK banks — Revolut's UK banking licence went live in March 2026, joining Monzo and Starling.
Personal current accounts are free across the board; deposits held with any of the three are protected up to £120,000 under the FSCS, following December 2025's increase from £85,000.
Starling is the only one of the three that accepts cash deposits without friction — free up to £1,000 a year, then 0.7%.
Revolut packs in the most features — crypto, stock investing, currency exchange, budgeting tools — but its richer plans carry a monthly fee.
Monzo charges £1 per cash deposit on its free tier and leans on Wise (via Monzo Pro) for international transfers.
At a Glance
Monzo
Starling
Revolut
UK banking licence
Yes
Yes
Yes (since March 2026)
FSCS protection
Up to £120,000
Up to £120,000
Up to £120,000
Monthly fee (personal)
Free (paid tiers available)
Free
Free (paid tiers available)
Cash deposits
£1 per deposit (free tier)
Free up to £1,000/year, then 0.7%
Not accepted
Spending abroad
Fee-free on card spend
Fee-free on card spend
Fee-free up to a monthly limit, then a fee
Savings rate (easy access)
Competitive, varies by partner
Up to ~4.00% AER
Up to ~4.75% AER via partner banks
7 min read·September 9, 2026·2
Maya Thornton
Writer
Standout feature
Budgeting tools, spending pots
Straightforward, cash-friendly banking
Crypto, stock investing, multi-currency
Rates and terms change frequently — always confirm current figures directly with the provider before choosing an account.
Monzo — Best for Budgeting and Everyday Spending Habits
Monzo built its reputation on making spending visible — instant notifications, spending categories, and shared "pots" for saving toward specific goals. It remains one of the most intuitive apps for people who want a clear, real-time picture of where their money goes.
The catch is cash: Monzo's free tier charges £1 per cash deposit, which adds up quickly if you regularly pay in cash from a side hustle or gifts. International transfers run through Wise, but full access typically requires Monzo's paid Plus or Premium tier rather than being built into the free account.
Starling — Best for Straightforward, Cash-Friendly Banking
Starling has stayed closest to "just a really good bank account" — no subscription tiers to navigate, no push toward extra products, and it's the only one of the three that handles cash deposits without a fee (up to £1,000 a year, then 0.7%). Its Easy Saver space and fixed-rate bonds offer competitive rates, and spending abroad on the debit card carries no markup beyond Mastercard's standard exchange rate.
Where Starling pulls back is international transfers — its foreign currency account options are more limited than Revolut's, and a US dollar account option was closed in 2026. For a UK-first current account without much international complexity, it's hard to beat on simplicity.
Revolut — Best for Crypto, Multi-Currency, and an All-in-One App
Revolut has evolved furthest from "just a bank" — crypto trading, stock investing, currency exchange at close to interbank rates, and virtual cards all live inside the same app. Since securing its full UK banking licence in March 2026, deposits with Revolut Bank UK Ltd now carry the same FSCS protection as Monzo and Starling — a meaningful shift, since Revolut previously operated as an e-money institution without that safety net.
One important caveat: Revolut's crypto trading operates through a separate entity and stays outside FSCS protection even now — only cash deposits with the licensed bank entity are covered. Revolut doesn't accept cash deposits at all, and its richer features sit behind paid plans if you want higher limits or more currency perks.
Savings Rates — Where the Numbers Actually Differ
Savings rates move often and vary by which partner bank is offering the rate inside each app, but as a general shape: Starling's easy-access savings has recently sat around 4.00% AER, while Revolut's partner-bank rates have reached as high as 4.75% AER on certain tiers. Monzo offers competitive rates through its own savings pots, though the exact figure depends on the specific pot and provider at the time.
💡 What this means for you: don't pick a bank for its savings rate alone — these move constantly and none of the three is reliably "the best" for long. Compare the current rate at the point you're actually choosing, and treat the day-to-day account features as the more durable factor.
Which One Should You Actually Choose?
Choose Monzo if visibility into your spending — categorised, real-time, with shared pots for goals — is what you actually use a banking app for day to day.
Choose Starling if you want a genuinely simple current account, need to deposit cash occasionally without a fee, and don't need an all-in-one investing or crypto app bolted on.
Choose Revolut if you regularly deal in multiple currencies, want stock or crypto access in the same app as your current account, and are comfortable with a fee-based tier if you need higher limits.
Plenty of people end up using two — a Starling or Monzo account for day-to-day spending, and Revolut for travel or currency exchange. There's no rule that says one banking app has to do everything.
What You Should Do Next
Check how often you handle cash — it's the single biggest practical difference between these three
Compare current savings rates directly in-app before assuming one platform is consistently cheaper or better
Confirm FSCS protection status directly with the provider if you're holding a large balance
If you travel or spend in other currencies often, compare each platform's current FX markup and monthly spending limits
Consider running two accounts — one for everyday spending, one for currency or investing features — rather than forcing one app to do everything
Monzo, Starling, and Revolut have converged on the basics — free personal accounts, FCA regulation, and FSCS-protected deposits up to £120,000 — and now differentiate mostly on what they bolt on beyond banking. Monzo wins on everyday spending visibility, Starling on cash-friendly simplicity, and Revolut on multi-currency and investing features. The "definitive" answer isn't one app for everyone — it's picking the one that matches how you actually use money day to day.
FAQ
Are Monzo, Starling, and Revolut all safe to use?
Yes — all three are FCA-regulated UK banks, and deposits are protected by the FSCS up to £120,000 per person, per institution, following the December 2025 increase from £85,000. That protects your deposit if the bank fails; it doesn't apply to non-deposit products like Revolut's crypto trading, which sits outside FSCS cover.
Which of the three is cheapest for spending abroad?
Starling and Monzo both offer fee-free card spending abroad on their standard exchange rate. Revolut is fee-free up to a monthly limit on its free plan, after which a markup applies — heavy travellers may prefer a paid Revolut tier or one of the free-tier alternatives depending on how often they travel.
Can I deposit cash into any of these accounts?
Starling accepts cash deposits free up to £1,000 a year (0.7% after that). Monzo charges £1 per deposit on its free tier. Revolut doesn't accept cash deposits at all.
Do I have to choose just one?
No — many people hold a Starling or Monzo account for everyday spending and a Revolut account for travel, currency exchange, or investing features. There's no restriction on holding accounts with more than one provider.
This article is for informational purposes only and does not constitute financial advice. Fees, rates, and features change frequently — always verify current terms directly with the provider before opening an account.
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Maya Thornton is a personal finance writer specializing in credit, debt strategy, and consumer banking. With a background in financial counseling, she translates complex financial system mechanics into plain-language guides that help everyday people take real control of their financial lives.
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