Monzo USA logo

Monzo USA

Official Website:
Platforms: Android | iOS
Account Types: Business Checking, Personal Checking
Partner Bank: Sutton Bank
Minimum Account Balance: $0.00
Lowest Monthly Fee: $0.00
Headquarters: London, England

Features: Money Pots for savings, Categorized spending, Round-up purchases for savings.

Monzo is an established app-only challenger bank in the UK, now entering the US neobank market.

Monzo is a UK-based challenger bank that's no stranger to the mobile-only bank market targeting a generation of consumers accustomed to running their lives entirely online.

As of our last update, Monzo is accepting customers for a waitlist as they prepare to launch in the US in partnership with Sutton Bank as their American FDIC-insured chartered bank.

While Monzo currently does not specify the account types they will be offering, they do offer both Business and Personal accounts in the UK so we're assuming for now that they plan to do the same after launching in the US.

Their consumer product includes savings features such as setting money aside in "Pots" for vacations or a rainy day, categorizing spending on the debit card to keep track of where your money is going, and round-ups on purchases to save change.