Updated September 28, 2026 · DebitCue Editorial Team
Monzo vs Wirex
Monzo
Wirex
Higher score in this comparison
Monzo vs Wirex: the differences
| Compare | MonzoReviewVisitVisit | WirexReviewVisitVisit |
|---|---|---|
| Monthly fee | £0 | $0 |
| Free ATM withdrawals | £200 | $400 |
| Card network | Mastercard | Visa |
| Currencies | 38 | 150Higher |
| Cashback rate | Not confirmed | 8% |
| Custody | Not confirmed | Custodial |
Same on both: Currency conversion fee (0%), Card type (Debit).
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Key differences
- Wirex scores higher overall: 9.6 vs 9.2.
- Currencies is higher at Wirex: 150 vs 38.
- Features: only Wirex offers Crypto, Custodial, Multi currency.
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.
Wirex
Wirex suits people who want crypto spending, travel money and cashback on one custodial Visa debit card. Costs are the draw: a monthly fee of $0 and a currency conversion fee of 0% place it at the front of the 259 brands compared on conversion costs.
Score breakdown
| Area | Monzo | Wirex |
|---|---|---|
| Cost | 9.4Monthly fee of £0 and conversion fee of 0% lead the site's cost columns, though the £200 ATM allowance is mid-table. | 9.4Monthly fee of $0 and a currency conversion fee of 0% keep running costs at the floor. |
| Offer | 9.7A credit card with an £0 annual fee, rewards type none, a 0% conversion fee and virtual card and travel features. | 9.9HigherCashback of 8% and 150 currencies with crypto and virtual card options drive the offer. |
| Trust | 8.6 | Not confirmed |
Positions in our rankings
| Ranking | Monzo | Wirex |
|---|---|---|
| Debit cards | 21 of 1336 | 17 of 1336 |
| Travel cards | 13 of 443 | 12 of 443 |
| No foreign transaction fee cards | 5 of 111 | 4 of 111 |
Every fact side by side
| Fact | Monzo | Wirex |
|---|---|---|
| Features | Virtual card, Travel | Crypto, Custodial, Multi currency, Travel, Virtual cardCovers more |
| Audience | Kids, Business | Not confirmed |
| Legal entity | Monzo Bank Limited | Wirex Limited |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2015 | Not confirmed |
| Support channels | Chat, Phone, Help centre | Not confirmed |
Credit cards
| Fact | Monzo | Wirex |
|---|---|---|
| Annual fee | £0 | Not confirmed |
| APR | 29% | Not confirmed |
| Rewards type | None | Not confirmed |
| Pricing model | No annual fee | Not confirmed |
| 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 | Not confirmed |
| Card kind | Credit | Not confirmed |
Where each stands against the rest
| Fact | Monzo | Wirex | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 1% |
| Cashback rate | Not confirmed | 8%highest quarter | 2% |
| Currencies | 38highest quarter | 150highest 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%.
Wirex
Pros
- Monthly fee of $0 on a standard Visa debit account
- Currency conversion fee of 0%, ranked 1 of 259 brands
- Cashback of 8% returned on everyday card spending
Cons
- The account is custodial, so balances sit with Wirex Limited rather than with you
- Free ATM withdrawals of $400 rank 8 of 115
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.
Wirex
Who it suits
- Crypto holders who want to spend through a normal Visa debit card
- Travellers who convert several currencies at a low conversion fee
- Multi currency earners who want cashback and a virtual card
Who should look elsewhere
- People who want to hold their own keys, since the Wirex account is custodial
- Anyone wanting a plain current account: Starling Personal Account Debit Card charges £0
- Anyone who only needs a bank debit card: Wise charges a monthly fee of £0
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
Wirex
Current offer
Bonus
Up to 8% Cashback on Card Spend - Wirex: Up to 8% cashback
Earnings subject to eligibility
Source, checked September 26, 2026
Country by country
| Country | Monzo | Wirex |
|---|---|---|
| United Kingdom | Yes | Yes |
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%.
Wirex
What does Wirex cost to hold each month?+
The monthly fee is $0 on the standard debit account, and Wirex ranks 1 of 419 brands compared on that measure. Costs are simple to state: the currency conversion fee is 0%, so there is little to add for everyday use.
What does Wirex charge to convert currency?+
The currency conversion fee is 0%, which places Wirex at 1 of 259 brands compared. Travellers moving between several of the 150 currencies held on the account can convert at that rate.