Revolut vs Monzo Business: Fees and Features Compared [2026]

The old answer to Revolut vs Monzo was simple: Monzo is the bank, Revolut is the app. That stopped being true in March 2026, when Revolut Bank UK Ltd was cleared to operate as a full UK bank. Once a Revolut Business account has moved across, eligible deposits at both are protected by the Financial Services Compensation Scheme (FSCS) up to GBP 120,000.

So safety isn't the tie-breaker any more. Revolut is built around foreign money, and charges for the everyday UK things Monzo gives away. Monzo is built around the UK, and charges 1% every time foreign money lands. Pick on the old logic and you'll pay for it in fees.

Building on our in-depth Revolut Business review and Monzo Business review, this comparison puts each fee side by side, with worked examples for foreign client payments, cash, and ATM withdrawals.\

Revolut vs Monzo Business at a Glance

Who Each Account Is Right For

Pick the account that matches how your money actually moves. The logo on the card matters less than you’d think.

Want a straight answer for your business? Answer eight quick questions and get an estimated monthly cost for Monzo, Revolut Basic, and Revolut Grow, plus the account that fits.

Revolut Business is a good fit if:

• Clients or marketplaces pay you in euros, dollars, or other currencies, and you want to hold that money in a multi-currency account rather than convert it straight away
• You pay overseas suppliers or contractors often, and your monthly currency exchange fits inside a plan’s allowance
• You run a partnership or an LLP (Monzo doesn’t accept either, and Revolut doesn’t accept unincorporated partnerships)
• You need a large team on one account: every Revolut plan includes unlimited team members

Monzo Business is a good fit if:

• Almost all your money moves in pounds, between UK accounts
• You want a free plan with no fees on UK transfers
• You take cash from customers or withdraw cash regularly
• You may need an overdraft or a loan through your business account
• You’re a sole trader (Revolut Business doesn’t accept sole traders, registered or not, and points them to Revolut Pro, a free add-on inside its personal app)

You can also run both. Monzo’s Lite plan is free, so a business with some foreign income can keep Monzo for pounds, cash, and credit, and add Revolut once euro or dollar volume justifies a plan fee.

Neither is a good fit if: your company is registered outside the UK. Monzo only opens accounts for UK sole traders and UK private limited companies, and Revolut Business opens UK accounts for businesses registered in the UK.

Fees Compared

Monzo is cheaper for a business that stays in pounds, starting with a Lite plan that its plans and pricing page lists as free. Revolut is cheaper for one that earns in other currencies, as long as the business’s currency exchange fits inside its plan’s allowance.

Plans and Everyday Fees

What a Foreign Client Payment Costs

Say a client pays you the equivalent of GBP 5,000 in euros, and you want pounds.

• Monzo: the payment is converted to pounds on arrival and Monzo charges 1%, so GBP 50.
• Revolut Basic: receiving the euros is free. Converting them uses your GBP 1,000 allowance, then 0.6% on the rest: (GBP 5,000 − GBP 1,000) × 0.6% = GBP 24, plus the GBP 10 plan fee.
• Revolut Grow: receiving is free and the whole GBP 5,000 fits inside the GBP 15,000 allowance, so the conversion costs nothing beyond the GBP 35 plan fee.

If one client pays you like this every month, Grow costs less than Monzo’s conversion fee on its own. If foreign payments are rare, Monzo’s free Lite plan wins, because you only pay the 1% when money arrives.

What Cash Costs

Revolut Business doesn’t accept cash or cheque deposits at all. Monzo charges GBP 1 per cash deposit at any PayPoint (up to GBP 300 a time) or Post Office (up to GBP 4,000 for a limited company), and takes cheques up to GBP 500 in the app.

Withdrawals flip the other way. Revolut charges 2% on every ATM withdrawal, so GBP 300 of cash costs GBP 6. Monzo’s business card withdraws for free in the UK and the EEA. Outside the EEA, the first GBP 200 every 30 days is free, then 3%.

Features Compared

Revolut does more with money that crosses borders. Monzo does more as a UK current account, including credit.

Monzo also adds Tax Pots on Pro and Team, which set money aside for tax automatically, and Making Tax Digital software on every plan.

Monzo’s credit comes at a price. Its limited company overdraft carries a representative 35.9% variable EAR (effective annual rate, the yearly cost including interest), plus an annual arrangement fee of GBP 20 to GBP 100, and needs a personal guarantee from the director. Limited company loans of GBP 500 to GBP 35,000 carry a representative 33.1% APR (annual percentage rate). Still, Monzo offers credit and Revolut doesn’t offer any.

Cards and Taking Payments

Both accounts give you physical and virtual debit cards and let you take card payments. The differences sit in currency and cost.

Revolut’s acceptance rates are lower on UK cards, which adds up if you take a lot of card payments. Monzo’s card acceptance runs through Stripe, and Monzo adds no fee of its own.

Support and Reviews

Monzo gives you more ways to reach a person. Revolut’s standard plans rely on in-app chat.

Revolut lists 24/7 support by in-app chat on every plan, with a dedicated account manager on Enterprise only. Monzo offers 24/7 in-app chat on Lite, Pro, and Team, and says you can also call or email if you prefer.

On Trustpilot, both the Revolut profile and the Monzo profile cover the whole company, personal and business customers together:

The complaints look a lot alike. Both run automated compliance checks that can freeze an account, so keep a second account for business-critical payments whichever you choose. If Revolut’s restrictions are the worry, our guide to Revolut Business alternatives for UK and EU companies compares five other options.

Is Your Money Safe with Revolut or Monzo?

Yes. Both are UK banks authorised by the Prudential Regulation Authority, and eligible business deposits at each are covered by the FSCS up to GBP 120,000 (at Revolut, once your account has moved to Revolut Bank UK Ltd).

Monzo Bank Ltd has held a full UK banking licence for years. Revolut Bank UK Ltd was cleared to operate without restrictions in March 2026, and Revolut’s help centre confirms how business deposits are protected once an account has moved. Two details matter for small businesses. At either bank, a sole trader’s GBP 120,000 limit is shared across their personal and business deposits. Some financial-sector business types also aren’t eligible for FSCS cover.

Revolut vs Monzo vs Statrys

Statrys doesn't offer UK business accounts, so it doesn't replace either of these for a UK company. It's an option for founders who also run, or are setting up, a company in Hong Kong, Singapore, or the BVI, such as a UK founder trading with Asia through a Hong Kong company.

For a Hong Kong company, a Statrys multi-currency business account holds 11 currencies and charges FX fees from 0.1% with no monthly allowance to run out. Hong Kong account holders also get local currency account details in the UK, Germany, Luxembourg, Denmark, Liechtenstein, and Australia. You also get a dedicated account manager. 96% of our clients were able to open their business accounts within 3 business days, and over 10,000 businesses hold a Statrys account.

Trading through a Singapore company instead? The Statrys Singapore business account holds the same 11 currencies, with FX fees from 0.1% and a dedicated account manager.

If you haven't set up the company yet, Statrys can register your Hong Kong company or incorporate your Singapore company, getting you operational in as little as 5 days. You can then apply for the business account in the same place.