Updated September 28, 2026 · DebitCue Editorial Team
Monzo vs Qonto
Monzo
Higher score in this comparison
Qonto
What sets them apart
| Compare | MonzoReviewVisitVisit | QontoReviewVisitVisit |
|---|---|---|
| Monthly fee | £0 | €9 |
| Currency conversion fee | 0%Lower | 2% |
| Free ATM withdrawals | £200 | €0 |
| Currencies | 38 | from 30 |
Same on both: Card type (Debit), Card network (Mastercard).
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Key differences
- Monzo scores higher overall: 9.2 vs 8.7.
- Founded is lower at Monzo: 2015 vs 2017.
- Qonto is available in 7 more countries.
- Currency conversion fee is lower at Monzo: 0% vs 2%.
- Support channels: only Qonto offers Email.
- Features: only Qonto offers Multi currency.
- Audience: only Monzo offers Kids.
Our verdict on each
Monzo
Monzo pairs a fee-free debit account with a fee-free credit card, so it suits anyone who wants no monthly charge and no foreign transaction cost. The current account charges a monthly fee of £0 and the card runs at an APR of 29% on borrowing.
Qonto
Qonto suits a registered business that wants card insurance, deferred debit and multi-currency handling inside a single account rather than bought separately. The trade-off is price, with a monthly fee of €9 on the account and a conversion fee of 2% on the card, which is where Wise at £0 a month pulls ahead.
Score breakdown
| Area | Monzo | Qonto |
|---|---|---|
| Cost | 9.4HigherMonthly fee of £0 and conversion fee of 0% lead the site's cost columns, though the £200 ATM allowance is mid-table. | 8.4Cost: a monthly fee of €9 against £0 at Wise, plus 2% on foreign spend and €0 in free withdrawals. |
| Offer | 9.7HigherA credit card with an £0 annual fee, rewards type none, a 0% conversion fee and virtual card and travel features. | 9.4 |
| Trust | 8.6Higher | 8.5 |
Where these facts come from
Monzo
- monzo.com: 10 facts, checked September 26, 2026
- en.wikipedia.org: 2 facts, checked September 26, 2026
Qonto
- qonto.com: 10 facts, checked September 26, 2026
- euclid.eba.europa.eu: 2 facts, checked September 26, 2026
How they place
| Ranking | Monzo | Qonto |
|---|---|---|
| Debit cards | 21 of 1336 | 10 of 1336 |
| Credit cards | 18 of 1020 | 8 of 1020 |
| Business debit cards | 5 of 201 | 3 of 201 |
| Travel cards | 13 of 443 | 8 of 443 |
Every fact side by side
| Fact | Monzo | Qonto |
|---|---|---|
| Features | Virtual card, Travel | Multi currency, Virtual card, TravelCovers more |
| Audience | Kids, BusinessCovers more | Business |
| Legal entity | Monzo Bank Limited | QONTO |
| Headquarters | United Kingdom | France |
| Founded | 2015Lower | 2017 |
| Support channels | Chat, Phone, Help centre | Chat, Phone, Email, Help centreCovers more |
Credit cards
| Fact | Monzo | Qonto |
|---|---|---|
| Annual fee | £0 | €0 |
| APR | 29% | 17.5%Lower |
| Rewards type | None | None |
| Pricing model | No annual fee | No annual fee |
| Perks | 0% interest over 3 months on purchases of GBP 100 or more, repeatable, 0% interest if you pay in full, No overseas fees (Mastercard exchange rate only), Section 75 purchase protection, Credit limit up to GBP 10,000, Flex purchases from up to 2 weeks ago, Instant notifications and real time balance updates, Separate paid card: Aura (GBP 15 a month) adds 1% cashback on groceries, 0.5% on everything else uncapped, auto invested cashback, Apple TV, Google AI Plus, 2 airport lounge and 2 fast track passes a year | Card insurance included (travel, business purchases, fraud), Deferred debit option on Plus and X Cards at no extra cost, Account remuneration 5% AER for 2 months then 1.5% (Smart and Premium plans), Apple Pay and Google Pay compatible, 24/7 support in France, 7 days a week elsewhere |
| Card kind | Credit | Credit |
Where each stands against the rest
| Fact | Monzo | Qonto | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 2%above the median | 1% |
| Currencies | 38highest quarter | from 30highest quarter | 8 |
Median across 387 listed cards.
Pros and cons
Monzo
Pros
- Currency conversion fee of 0% and monthly fee of £0, ranking 1 of 259 and 1 of 419 on the site.
- Free ATM withdrawals cover £200.
- A £0 annual fee credit card at 29% APR, with no interest when the balance is paid in full.
Cons
- Rewards type on the credit card is none, and cashback sits behind a separate paid card tier.
- The £200 free ATM allowance ranks 15 of 115 on the site.
- Borrowing costs 29% APR, while the site median APR is 20.97%.
Qonto
Pros
- Card insurance for travel, business purchases and fraud comes with the card.
- Multi-currency, virtual cards and travel use all sit inside the offer, so foreign buying needs no separate product (multi currency, virtual card and travel).
Cons
- The account charges a monthly fee of €9, while Wise charges £0 for the same job of holding money.
- Card conversion costs 2%, and the ranking on that measure is 160 of 259.
- Free ATM withdrawals come to €0, so cash at home or abroad is a charge rather than an included allowance.
Who each suits
Monzo
Who it suits
- UK residents who want a debit account with a monthly fee of £0.
- People who spend abroad often, since the conversion fee is 0%.
- Households covering kids and business needs, from children's spending to business banking.
Who should look elsewhere
- Wise, if paying 0.1% on currency conversion suits you better than Monzo's 0%.
- Varo Believe Secured Credit Card, if a secured credit card is the point and not a £0 fee-free debit account.
- Chime Card (Secured Visa Credit Card), if a US dollar product suits you better: its monthly fee is $0.
Qonto
Who it suits
- A company paying suppliers in several currencies and issuing staff cards without an annual charge of €0.
- Readers who want chat, phone, email and help centre support with round the clock cover in France (chat, phone and email).
Who should look elsewhere
- Wise, for a reader who wants no monthly account charge, since Qonto costs €9 against £0.
- Varo Believe Secured Credit Card, for someone after a secured credit card at a monthly fee of $0 rather than a company current account.
- Chime Card (Secured Visa Credit Card), for a reader who wants a secured credit card billed at $0 a month.
Current offers
Monzo
Current offer
Free trial
Annual Uber One Membership - 3 month free trial: 3 months free
Included with Monzo Perks and Max subscriptions; Ts&Cs apply
Source, checked September 26, 2026
Bonus
The 2026 Monzo Saving Challenge: Save from 1p to GBP 667.95 and be in with a chance of winning GBP 10,000; 5% AER (variable) paid monthly
Ts&Cs apply; Extra, Perks and Max customers unlock new challenge levels, bigger savings and monthly prize draws
Source, checked September 26, 2026
Qonto
Current offer
Free trial
1-month free trial on all Qonto plans: 1 month free
Shown on Basic, Smart, Premium, Essential, Business and Enterprise plan cards on the pricing page.
Source, checked September 26, 2026
First period offer
Remunerated account: 5% AER for 2 months, then 1.5% AER: 5% AER for 2 months, then 1.5% AER
Smart and Premium plans; requires at least 5 eligible transactions per month; remunerated balance cap EUR 50,000 (Smart) or EUR 100,000 (Premium).
Source, checked September 26, 2026
Country by country
| Country | Monzo | Qonto |
|---|---|---|
| Austria | No | Yes |
| Belgium | No | Yes |
| France | No | Yes |
| Germany | No | Yes |
| Italy | No | Yes |
| Netherlands | No | Yes |
| Portugal | No | Yes |
| Spain | No | Yes |
8 of 9 countries where either is available.
Questions about each
Monzo
How much does it cost to keep a Monzo account?+
The current account charges a monthly fee of £0, and the credit card has an annual fee of £0. On the site's monthly fee column that ranks 1 of 419, so there is nothing to budget for just to keep the account open.
What does it cost to spend abroad?+
The currency conversion fee is 0% on the Mastercard network, so spending abroad adds no conversion charge. The site median for the same column is 1%, while cards with no foreign fee peak at 1.95%.
Qonto
What does a Qonto business account cost each month?+
The account is billed a monthly fee of €9 for being open, and the card itself adds an annual fee of €0, so nothing is due on the card beyond that. The monthly line is the one most comparisons turn on, and it is the figure to weigh against an account that charges nothing but offers less.
What does it cost to spend in another currency?+
A purchase in a currency other than the account's own carries a conversion fee of 2%, added to the local amount and charged on each transaction. Spending in the home currency avoids it, so the fee is easy to trigger by accident on a foreign trip and easy to avoid otherwise. Paying in the local currency is the habit that controls it.