Monzo vs Starling vs Revolut 2026: Fees, Features, FSCS

Monzo Starling Revolut UK Fees 2026: What's Changed and How They Compare

TL;DR: The three leading UK digital current accounts price differently in May 2026: Monzo standard (free, with paid Plus £5/mo and Premium £15/mo), Starling Personal (free, no paid tier), and Revolut Standard (free, with Plus £3.99/mo, Premium £7.99/mo, Metal £14.99/mo, Ultra £55/mo). Free-tier fee policies differ significantly on overseas spending, ATM withdrawals, and savings products.

Free Tier Fee Comparison (May 2026)

Fees verified via Monzo, Starling, and Revolut official pricing pages on 8 May 2026.

Banking Licence Differences That Affect Customers

Monzo Bank Ltd holds a full UK banking licence (FCA FRN 730427, PRA-authorised). Customer deposits are protected directly under FSCS up to £85,000 per saver. Monzo can offer overdrafts, credit products, and direct lending.

Starling Bank Ltd holds a full UK banking licence (FCA FRN 730166, PRA-authorised). Identical FSCS protection structure to Monzo. Starling has the most extensive UK SME banking offering of the three.

Revolut Ltd holds a UK Electronic Money Institution authorisation (FCA FRN 900562). Deposits are safeguarded with partner banks; FSCS protection applies via the safeguarding mechanism rather than direct bank licence. Revolut is awaiting full UK banking licence approval (Authorisation with Restrictions granted by PRA in July 2024). UK customers' protection is functionally similar to FSCS but technically operates through a different mechanism.

Recent Fee Changes (2024-26)

Monzo: removed Premium savings rate boost in late 2024; introduced Cash ISA (4.91% AER) via Investec partnership in 2024; added 1-Year and 3-Month Fixed Savings products through 2025.

Starling: introduced Connected card for shared spending in 2025; removed the joint account product temporarily and reintroduced it in 2025; SME banking pricing remained unchanged across the period.

Revolut: increased UK ATM withdrawal limit on Standard tier from £200/month to current £200/month after experimenting with lower thresholds; introduced Ultra tier at £55/month in 2024; the Joint Account product launched late 2024 and Crypto features expanded throughout 2025.

Which Free Tier Suits Which Customer

For travellers spending overseas regularly, Starling offers the most comprehensive free overseas spending including ATM withdrawals with no monthly cap. For UK-only banking with strong app and savings integration, Monzo is the more polished consumer banking experience. For multi-currency use, crypto integration, and budget-conscious international transactions, Revolut Standard is competitive within the £200/month ATM and £1,000/month foreign exchange limits.

For SME and sole-trader banking, Starling Business and Tide (separate offering, not bank-licensed) are the dominant choices over Monzo Business or Revolut Business. Both Monzo and Revolut offer business products but with smaller market share and feature set as of May 2026.

FAQ: UK Digital Bank Fees 2026

Which is the cheapest digital bank for overseas spending?

Starling Personal currently offers the most generous free overseas spending: no monthly cap on overseas card spending or ATM withdrawals at the Mastercard rate. Monzo offers free overseas spending but caps free overseas ATM withdrawals at £200/month. Revolut Standard is competitive within £1,000/month foreign exchange limits but charges 1% above this on weekends.

Are Revolut funds safe in the UK?

Revolut UK is FCA-authorised as an Electronic Money Institution (FRN 900562). Customer funds are safeguarded with partner banks; FSCS protection applies via the safeguarding mechanism. Revolut received PRA Authorisation with Restrictions for a full banking licence in July 2024 and is in the process of mobilisation; full banking authorisation has not yet been granted as of May 2026.

Can I have all three accounts?

Yes. UK customers can open accounts at any number of banks and EMIs simultaneously. Many users hold multiple digital accounts to take advantage of different strengths: Starling for travel, Monzo for budgeting and savings pots, Revolut for multi-currency. None of the three has any restriction on opening additional accounts elsewhere.

Last reviewed: May 2026. Pricing verified via official websites; FCA Register FRN 730427 (Monzo Bank), FRN 730166 (Starling Bank), FRN 900562 (Revolut Ltd); PRA authorisation status confirmed via FCA Register and Bank of England announcements through April 2026.

Monzo vs Starling vs Revolut: Full Comparison

FSCS Protection: What Changed with Revolut

Revolut was granted a UK banking licence by the Prudential Regulation Authority in July 2024, following a lengthy application process. Prior to the banking licence, Revolut operated as an e-money institution, which meant customer funds were safeguarded (held separately) but not covered by the FSCS. Since the banking licence was activated, Revolut customer deposits up to £85,000 are now protected by the FSCS in the same way as Monzo and Starling deposits.

The FSCS limit of £85,000 applies per banking licence, not per account. Customers holding both a Monzo and a Revolut account have separate £85,000 FSCS protection for each, as they are different banking licences. The FSCS register at fscs.org.uk confirms which providers carry FSCS protection.

Overseas Spending Comparison

All three providers offer competitive overseas spending rates compared to traditional high-street banks, which typically charge 2.75-3% foreign transaction fees. Starling applies the Mastercard interbank rate with no markup and no fee on the free account. Monzo applies the Mastercard rate with no fee up to a monthly limit on the free tier; spending above the limit incurs a 3% fee. Revolut Standard applies the interbank rate up to a monthly limit; above the limit a 1% fee applies on weekdays and 2% on weekends. Premium and paid tiers on all three providers offer higher or unlimited fee-free overseas spending.

Is Revolut now FSCS protected in the UK?

Yes. Following the grant of a UK banking licence by the Prudential Regulation Authority in July 2024, Revolut's UK customer deposits are protected by the FSCS up to £85,000 per eligible depositor. This is a significant change from Revolut's previous status as an e-money institution, under which deposits were safeguarded but not FSCS insured. The transition to banking licence status has been phased; customers should check the Revolut app and website to confirm their account is held under the banking licence and not the legacy e-money arrangement.

Which is better for international spending: Monzo, Starling, or Revolut?

For frequent international spenders, Starling's free account applies the Mastercard interbank rate with no monthly limit and no foreign transaction fee, making it structurally the most straightforward for overseas use. Monzo and Revolut Standard both impose monthly limits on fee-free foreign spending, above which charges apply. For occasional overseas use, the limits on Monzo and Revolut Standard are unlikely to be reached. For high-volume overseas spending, the paid tiers of all three providers offer higher or unlimited allowances.

Do Monzo, Starling, and Revolut offer credit cards?

Monzo offers a credit card (Monzo Flex) for eligible customers. Starling does not currently offer a credit card product. Revolut offers a credit product (Revolut Credit) for eligible customers. Credit products are subject to separate eligibility criteria, credit checks, and FCA consumer credit authorisation. The terms and availability of credit products from all three providers are subject to change.

Can these accounts be used as a main bank account?

All three accounts can function as a main UK bank account with a sort code and account number. They support direct debits, standing orders, and salary payments. The primary limitations compared to traditional banks are: no branch network for in-person services, cash deposit charges, and limited product range (no traditional mortgage, insurance, or investment products tied to the account). All three have grown their UK customer bases substantially, with Monzo and Starling each holding several million UK personal accounts.