Revolut Alternatives UK (6 Compared)

MONEY: DIGITAL BANKINGLAST REVIEWED: 21 JULY 2026

Six alternatives to Revolut are compared here: Monzo, Starling Bank, Chase UK, Wise, Kroo and Tide. Monzo, Starling, Chase and Kroo are full UK banks with FSCS protection up to £120,000 per person, the limit in force since 1 December 2025, while Wise and Tide safeguard funds under FCA e-money rules instead.

TL;DR · LAST REVIEWED 21 July 2026

Monzo, Starling Bank, Chase UK and Kroo hold full UK banking licences with FSCS protection up to £120,000 per person
Revolut UK has also been FSCS-protected since obtaining its UK banking licence in 2024, so protection is no longer the deciding gap
Wise and Tide are e-money firms: funds are safeguarded in ring-fenced accounts but not covered by the FSCS
Starling charges no fees on spending abroad in any currency, against a £1,000 monthly fee-free exchange cap on Revolut's free weekend rate
Monzo, Starling and Chase support the Current Account Switch Service; Revolut, Wise and Tide do not
Chase UK pays 1% cashback on everyday spending for the first 12 months, subject to eligibility

Revolut alternatives compared on fees, protection and switching, July 2026

Provider	Monthly fee	FSCS protected	CASS switching
Monzo	Free (Plus from £5)	Yes	Yes
Starling Bank	Free	Yes	Yes
Chase UK	Free	Yes	Yes
Kroo	Free	Yes	No
Wise	Free (per-transfer fees)	No (safeguarded)	No
Tide	Free (paid tiers)	No (safeguarded)	No

Source: FSCS and provider terms

KEY FACTS

FSCS protection covers deposits up to £120,000 per person per FCA-authorised bank, raised from £85,000 on 1 December 2025
Monzo has held a full UK banking licence since 2017; Revolut UK obtained its licence in 2024
Starling Bank's authorised overdraft rate is 15% EAR for customers with excellent credit
The Current Account Switch Service moves all direct debits and standing orders within seven working days
Wise supports over 40 currencies at the mid-market exchange rate with fees shown upfront

Why do people look for alternatives to Revolut?

Revolut serves over 10 million UK customers, but common reasons for comparing alternatives include the £1,000 monthly cap on fee-free weekend currency exchange on the free tier, the absence of Current Account Switch Service support, and a preference for providers with longer UK banking track records.

Revolut is one of the most widely used digital financial apps in the United Kingdom, and its position strengthened when it obtained a UK banking licence in 2024, bringing FSCS protection to UK customers for the first time. That change removed what was previously the single biggest difference between Revolut and licensed rivals. The comparisons that remain are practical rather than structural. Revolut's free tier limits fee-free currency exchange at weekends and applies fair-usage caps that frequent travellers can reach quickly. Its customer service record on complaint handling and account freezes has drawn scrutiny from the Financial Ombudsman Service over several years, and the volume of fraud-related complaints across the digital banking sector as a whole has pushed service quality up the list of switching reasons. Revolut also sits outside the Current Account Switch Service, so anyone moving their main banking to it must migrate direct debits and standing orders manually. None of these points makes Revolut a weak product: they define the specific situations, covered section by section below, in which one of the six alternatives compared here may fit a particular need more closely.

How does Monzo compare to Revolut?

Monzo is the closest UK alternative for everyday personal banking. It has held a full UK banking licence since 2017, offers FSCS protection up to £120,000, provides authorised overdrafts at 19% or 39% EAR by tier, and supports CASS switching, which Revolut does not.

Monzo and Revolut share the app-first model: instant spending notifications, bill splitting, savings pots and granular card controls. The differences sit in banking depth rather than app polish. Monzo operates as a full UK bank and has done since 2017, which brings an authorised overdraft facility, direct FSCS cover on balances, and participation in the Current Account Switch Service, so a switch from a legacy bank completes within seven working days with all payments redirected automatically. Its spending categorisation and budgeting tools are consistently rated among the strongest of any UK current account. Revolut counters with breadth: wider multi-currency support, cryptocurrency and commodities trading, and more extensive travel benefits on its paid tiers. Salary sorting, joint accounts and cash deposits through PayPoint are available on Monzo, and its Plus and Premium tiers from £5 a month add interest, virtual cards and insurance extras. For a UK resident whose priority is a primary current account with an overdraft and straightforward deposit protection, the two products are no longer equivalent offerings with different licences: they are a bank with travel features against a financial super-app that now also holds a licence.

Is Starling Bank a good alternative to Revolut?

Starling Bank offers every feature on its free account with no paid tiers, charges nothing for spending abroad in any currency, and provides authorised overdrafts at 15% EAR for excellent credit, one of the lowest rates in UK digital banking.

Starling's structural difference from both Revolut and Monzo is the absence of a premium tier: the free personal account carries the full feature set, including fee-free overseas spending at the Mastercard exchange rate with no monthly cap. That single fact makes it the most direct answer to the most common Revolut use case, spending abroad, because Revolut's free tier applies a fee at weekends and caps fee-free exchange at £1,000 a month. Starling holds a full UK banking licence with FSCS protection, supports CASS switching, and pays interest on current account balances. Its business account is a genuine second product rather than an add-on: a full UK business current account with FSCS cover, no monthly fee on the standard tier, and native integrations with Xero and FreeAgent, which is why sole traders and small limited companies frequently hold both personal and business accounts in the one app. The trade-offs against Revolut are the ones implied by its focus: no multi-currency balances beyond a euro account, no cryptocurrency features, and no travel-insurance bundles. Starling suits users who want conventional banking executed cleanly rather than a wide feature surface.

What does Chase UK offer that Revolut does not?

Chase UK pays 1% cashback on everyday debit card spending for the first 12 months with no monthly fee, backs accounts with JPMorgan's balance sheet and FSCS protection, and offers a linked easy-access saver, but has no multi-currency features.

Chase UK, the retail arm of JPMorgan Chase launched in Britain in 2021, competes on a narrow front: rewarded everyday spending in pounds. The 1% cashback on eligible debit card spending for the first year is the concrete draw, alongside a numberless card design, round-up saving at 5% AER on the round-up balance, and a linked easy-access savings account at a competitive variable rate. It is a full UK bank with FSCS protection and joined the Current Account Switch Service in 2024, so it can serve as a primary account. What it does not attempt is Revolut's international surface: there are no multi-currency balances, no fee-free foreign exchange guarantees beyond standard Mastercard rates, and no investment or crypto features. The comparison therefore resolves by use case. A UK-based spender who rarely transacts in foreign currency captures direct, measurable value from Chase that Revolut's free tier does not offer, while a frequent traveller or multi-currency user gains little. Many users run the two side by side: Chase for domestic spending and its cashback, a second app for travel money, which the fee-free card comparison in the Starling section above also informs.

When is Wise better than Revolut for international money?

Wise converts at the mid-market exchange rate with fees displayed before each transfer across more than 40 currencies. Funds are safeguarded under FCA e-money rules rather than FSCS-protected, so it works best as a transfer service beside a protected bank account.

Wise is not a bank and does not present itself as one: it is a multi-currency account and international transfer service, and on that ground it remains the reference point. Every conversion uses the mid-market rate, the same rate shown on currency data services, with the fee itemised before confirmation. Revolut's free tier applies weekend surcharges and monthly caps before its rates degrade, and its fair-usage rules are set out across several policy documents rather than per transaction. For regular remittances, paying overseas invoices, or holding balances in multiple currencies, that transparency difference compounds. The protection model is the necessary caveat: Wise operates under an FCA e-money licence, so customer funds are safeguarded in ring-fenced accounts separate from the company's own assets, but they are not covered by the FSCS. In a failure, safeguarded funds are returned through an administration process rather than compensated within the FSCS's standard timeline. The practical pattern that follows is Wise for movement, a licensed bank for storage: hold the £120,000-protected balance at Monzo, Starling or Chase and route international transfers through Wise, rather than treating either as a complete substitute for the other.

Which alternatives suit business banking instead of Revolut Business?

Starling Business is the only alternative here offering a full FSCS-protected UK business current account with no monthly fee. Tide suits sole traders wanting invoicing tools, and Wise Business fits companies trading across currencies, both under safeguarding rather than FSCS cover.

Revolut Business is widely used for its multi-currency accounts and expense controls, and the alternatives divide by what a business actually needs protected and automated. Starling Business stands apart structurally: it is a full UK business current account under a banking licence, with FSCS protection on eligible balances, no monthly fee on the standard tier, and direct feeds into Xero, FreeAgent and QuickBooks. For a UK limited company or sole trader whose revenue is in pounds, that combination covers the core requirement without subscription cost. Tide targets the administrative layer for sole traders and small companies, bundling invoicing, expense categorisation and company-formation services, with funds safeguarded under an e-money arrangement through ClearBank. Wise Business extends the personal product's economics to companies: mid-market conversion, batch payments and local account details in major currencies, suited to importers and businesses invoicing internationally. The FSCS distinction runs through the choice exactly as it does for personal accounts, and firms holding significant working capital have a concrete reason to keep the operating balance under a licensed bank while using specialist services for the functions they perform best.

RELATED GUIDES

DISCLAIMER

This article is editorial information, not financial advice. Kael Tripton Ltd is not authorised or regulated by the Financial Conduct Authority. Figures were correct at the last review date shown above; verify current rates and rules with the primary sources listed below before acting.

Frequently asked questions

What are the main alternatives to Revolut in the UK?

The six compared here are Monzo, Starling Bank, Chase UK, Kroo, Wise and Tide. Monzo, Starling, Chase and Kroo are full UK banks with FSCS protection. Wise and Tide are e-money firms that safeguard funds instead. The closest like-for-like personal banking alternatives are Monzo and Starling.

Is Revolut FSCS protected in the UK?

Yes. Revolut obtained a UK banking licence in 2024 and eligible GBP deposits with Revolut UK are now FSCS-protected up to £120,000 per person, the same limit that applies at Monzo, Starling Bank, Chase UK and Kroo.

Can you switch to a digital bank using the Current Account Switch Service?

Monzo, Starling Bank and Chase UK all participate in CASS, which redirects direct debits, standing orders and incoming payments within seven working days and corrects misdirected payments for three years. Revolut, Wise, Tide and Kroo do not participate, so moving to them means transferring payments manually.

Does Starling Bank charge for spending abroad?

No. Starling charges no fees for card spending or cash withdrawals abroad in any currency, converting at the Mastercard exchange rate. Revolut's free tier applies a surcharge on weekend exchanges and caps fee-free conversion at £1,000 a month.

Are funds at Wise and Tide safe without FSCS protection?

Wise and Tide safeguard customer funds under FCA e-money rules, holding them in ring-fenced accounts separate from company assets. If the firm failed, funds would be returned through an administration process rather than FSCS compensation, which can take longer and may deduct administration costs.

SOURCES