Revolut vs Monese (2026)
Verdict
Choose Revolut if you want the best app, most features and free international transfers. Choose Monese if you've been rejected elsewhere or want an account specifically designed to work across UK and Europe.
Revolut and Monese are both popular with UK expats moving to Europe. Both are e-money institutions, both work without proof of local address — but Monese was built specifically for people without established financial histories.
Feature comparison
What they have in common
Revolut and Monese are both UK-founded e-money institutions, not full banks. Neither offers the €100,000 EU deposit guarantee — your funds are held in segregated accounts at partner banks, which is a regulatory requirement but not the same as deposit insurance. Both can be opened without a local address, making them ideal for people in transit between the UK and Europe.
Post-Brexit, both continue to serve UK citizens looking to bank in Europe — a crucial point given that many traditional EU banks have restricted services to UK residents since 2021.
Who is Revolut for?
Revolut is the feature-rich option. With over 45 million customers worldwide, it offers multi-currency accounts in 30+ currencies, budgeting tools, round-ups, crypto trading, stock trading, and a polished app that is consistently rated among the best in mobile banking.
For UK expats moving to Europe, Revolut's free Standard plan provides an immediate EUR account with IBAN, a virtual card for online payments, and fee-free spending across the EU. The exchange rate on weekdays uses the mid-market rate (a 0.5% weekend markup applies). For most day-to-day expat needs, the free plan covers everything.
Who is Monese for?
Monese was founded in 2015 with a very specific mission: help people who have just arrived in a new country get a bank account when no one else will give them one. This remains its core strength.
Monese offers both a UK account (GBP sort code and account number) and an EU account (EUR IBAN) — accessible from the same app. This dual-country setup is uniquely useful for UK expats who need to maintain a UK account for pension, tax, and family transfers while also banking in Europe.
Monese has a reputation for accepting applicants who have been rejected elsewhere — people with thin credit files, recent arrivals with no financial history, or those who struggle with biometric ID checks. If Revolut has rejected your application, Monese is worth trying.
Features and fees compared
| Feature | Revolut | Monese |
|---|---|---|
| Free plan | Yes (Standard) | Yes (Simple) |
| EUR IBAN | Yes | Yes |
| UK GBP account | Yes | Yes |
| Multi-currency | 30+ currencies | 30+ currencies |
| Exchange rate | Mid-market (weekdays) | Competitive but higher than Revolut |
| Crypto / Stocks | Yes | No |
| App quality | Excellent | Good |
| Acceptance rate | High | Very high (designed for new arrivals) |
Post-Brexit considerations
Since Brexit, UK citizens no longer have automatic EU banking rights. Both Revolut (which holds a Lithuanian banking licence) and Monese (which operates as an e-money institution in Lithuania for EU customers) continue to legally serve UK citizens in Europe. Neither requires EU citizenship or residency.
Bottom line
For most UK expats moving to Europe, Revolut wins on features, app quality, and exchange rates. Use Revolut as your primary account and take advantage of the free Standard plan's generous EUR capabilities.
Choose Monese if you have been rejected by Revolut, if you need a more traditional banking experience, or if you specifically value the dual UK/EU account setup for managing money on both sides of the Channel.
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