Updated September 28, 2026 · SumCue Editorial Team
bunq Spain vs Monzo
bunq Spain
Monzo
Higher score in this comparison
bunq Spain vs Monzo: the differences
| Compare | bunq SpainReviewVisitVisit | MonzoReviewVisitVisit |
|---|---|---|
| Headline rate | 3.01% | 2.75% to 3.5%Higher |
| Minimum deposit | €10 | £0 |
| Deposit protection | EU DGS up to EUR 100,000 | FSCS up to GBP 85,000 |
| Access terms | Withdraw any amount free up to 2 times a month, rising to 3 free monthly withdrawals after 12 months; interest paid weekly | Instant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+ |
| Monthly fee | €0 | £0 |
| Term | Not confirmed | 12 to 84 months |
| Regulators | De Nederlandsche Bank, SIPC | Not confirmed |
Same on both: Rate type (Variable), Account kind (Easy access).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Monzo scores higher overall: 9.1 vs 9.0.
- Founded is lower at bunq Spain: 2012 vs 2015.
- bunq Spain is licensed in 6 more countries.
- bunq Spain is available in 6 more countries.
- Headline rate is higher at Monzo: 2.75% to 3.5% vs 3.01%.
- Support channels: only bunq Spain offers Email.
- Support channels: only Monzo offers Phone.
Our verdict on each
bunq Spain
bunq Spain is an app-led easy-access saver for people who want savings, card and markets in a single app, with no monthly charge and a variable rate of 3.01%. It suits students and multi-currency spenders, and less suited to anyone shopping only on the highest advertised rate.
Monzo
Monzo suits people who want everyday banking, saving and borrowing handled in one app. The current account has a monthly fee of £0, and the savings pot pays 2.75% to 3.5% with withdrawals any time and no limits.
Score breakdown
| Area | bunq Spain | Monzo |
|---|---|---|
| Cost | 8.8A monthly fee of €0 and an opening deposit of €10 mean there is no charge to sit on the balance. | 9.4HigherSavings run on a no monthly fee model with a minimum deposit of £0, and the credit card annual fee is £0. |
| Offer | 9.1A variable 3.01% on easy-access money, plus multi currency, crypto and virtual card covering crypto, cards and travel in the same app. | 9.6HigherLoan types include personal, debt consolidation and car for home improvement, and virtual card and travel come with the account. |
| Trust | 9.2Higher | 8.5 |
How they place
| Ranking | bunq Spain | Monzo |
|---|---|---|
| Savings | 9 of 1492 | 24 of 1492 |
| Savings accounts | 6 of 658 | 15 of 658 |
| Credit and debit cards | 7 of 1594 | 29 of 1594 |
| Debit cards | 5 of 826 | 22 of 826 |
Which one suits you
Pick bunq Spain if trust matter most.
Pick Monzo if cost, offer, and headline rate matter most.
If neither fits
XTB has headline rate at 4%, against 3.01% for bunq Spain and 2.75% to 3.5% for Monzo.
XTB reviewWhere these facts come from
bunq Spain
- bunq.com: 7 facts, checked September 26, 2026
- help.bunq.com: 4 facts, checked September 26, 2026
- dnb.nl: 1 fact, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Monzo
- monzo.com: 12 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | bunq Spain | Monzo |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee |
| Legal entity | bunq B.V. | Monzo Bank Limited |
| Headquarters | Netherlands | United Kingdom |
| Founded | 2012Lower | 2015 |
| Support channels | Email, Chat, Help centre | Chat, Phone, Help centre |
Brokers
| Fact | bunq Spain | Monzo |
|---|---|---|
| Markets | Stocks, ETFs, Crypto | Not confirmed |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
| Features | Multi currency, Crypto, Virtual card, TravelCovers more | Virtual card, Travel |
| Audience | Student | Kids, Business |
| Currency conversion fee | 0.5% to 3% | 0%Lower |
| Platforms | Bunq app | Not confirmed |
Debit cards
| Fact | bunq Spain | Monzo |
|---|---|---|
| Free ATM withdrawals | Not confirmed | £200 |
| Card type | Debit | Debit |
| Card network | Mastercard | Mastercard |
| Currencies | 8 | 38Higher |
Credit cards
| Fact | bunq Spain | Monzo |
|---|---|---|
| Annual fee | €0 | £0 |
| APR | Not confirmed | 29% |
| Rewards type | Not confirmed | None |
| Credit needed | Not confirmed | Fair |
| Perks | Not confirmed | 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 kind | Credit | Credit |
Crypto exchanges
| Fact | bunq Spain | Monzo |
|---|---|---|
| Taker fee | 0.25% to 1.99% | Not confirmed |
| Coins listed | from 350 | Not confirmed |
| Maker fee | 0.25% to 1.99% | Not confirmed |
| Exchange type | Cex | Not confirmed |
Personal insurance
| Fact | bunq Spain | Monzo |
|---|---|---|
| Premium from | €0 | Not confirmed |
| Monthly payments | Yes | Not confirmed |
Loans
| Fact | bunq Spain | Monzo |
|---|---|---|
| Loan amount | Not confirmed | £10,000 to £35,000 |
| Arrangement fee | Not confirmed | 0 |
| Funding time | Not confirmed | Minutes after approval, into the Monzo account |
| Representative example | Not confirmed | Borrow £4,800 over 36 months, 35 monthly repayments of £181 plus one final payment of £150.99, 20.9% fixed interest rate, 23.0% representative APR, total repay £6,485.99 |
| Lender type | Not confirmed | Direct lender |
| Free early repayment | Not confirmed | Yes |
| Eligibility | Not confirmed | UK residents aged 18+, Monzo Current Account required |
| Loan types | Not confirmed | Personal, Debt consolidation, Car |
| Use cases | Not confirmed | Home improvement |
Where each stands against the rest
| Fact | bunq Spain | Monzo | Median |
|---|---|---|---|
| Headline rate | 3.01%below the median | 2.75% to 3.5%above the median | 3.3% |
| Term | Not confirmed | 12 to 84 monthsabove the median | 60 |
Median across 710 listed providers.
Pros and cons
bunq Spain
Pros
- A monthly fee of €0 and an annual fee of €0, so an easy-access balance can stay open without a charge.
- multi currency, crypto and virtual card puts multi-currency, crypto, a virtual card and travel features in the same app as the savings balance.
- Deposits sit under EU DGS up to EUR 100,000 and the Spanish account is supervised by Banco de España.
Cons
- The variable 3.01% sits below Starling Personal Account Debit Card at 4%, so the rate is not the reason to open it.
- Support runs on email, chat and help centre only, with no phone line, while 74.4% covers a large share of the savings market.
- The opening deposit of €10 sits above the €0.88 median minimum across savings accounts, which puts a floor under the first transfer.
Monzo
Pros
- A monthly fee of £0 on the current account, and a currency conversion fee of 0% across 38 currencies.
- Savings interest is credited monthly, with withdrawals any time and no limits.
- Personal loans of £10,000 to £35,000 are paid out Minutes after approval, into the Monzo account, and early repayment is free.
Cons
- The credit card charges 29% APR and its rewards type is none, so there is nothing to earn back on it.
- Loans ask for a credit rating of fair and only work alongside a Monzo current account.
- ATM withdrawals come with an allowance of £200, the weakest part of the travel offer.
Who each suits
bunq Spain
Who it suits
- Students and younger savers: student points at student accounts, and an app-led model suits building a balance as a habit.
- Savers who want spending and saving in one place: stocks, etfs and crypto covers stocks, ETFs and crypto, with multi currency, crypto and virtual card adding cards and travel perks.
- Households that spend across currencies, with 8 currencies supported and a conversion fee of 0.5% to 3%.
Who should look elsewhere
- Savers chasing the highest easy-access rate: Starling Personal Account Debit Card pays 4% against 3.01% here.
- Readers tempted by a far bigger advertised figure: Finteres quotes 0% to 36%, a much wider spread to shop around in.
- Anyone who wants a phone line rather than app support, since email, chat and help centre covers the help centre, email and chat only.
Monzo
Who it suits
- People who want spending and saving in one place: the savings account pays 2.75% to 3.5% at a variable rate on an easy access basis.
- Households and small businesses, since the audience covers kids and business and the account includes virtual card and travel.
- People who prefer an app bank with its own regulator: the legal entity is Monzo Bank Limited, based in the United Kingdom.
Who should look elsewhere
- Euro account holders, since bunq charges a monthly fee of €0 on a euro account rather than a UK current account.
- Anyone after a secured card instead of an unsecured rate of 29% APR: Varo Believe Secured Credit Card has a monthly fee of $0.
- Travellers who mainly want a multi currency account: Wise charges 0.1% on conversion, which works on a different basis to a UK debit card.
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
Country by country
| Country | bunq Spain | Monzo |
|---|---|---|
| Belgium | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Ireland | Yes | No |
| Italy | Yes | No |
| Netherlands | Yes | No |
| Spain | Yes | No |
| United Kingdom | No | Yes |
Questions about each
bunq Spain
Is the interest rate fixed, or can it change?+
The rate is variable, so it can move with the provider rather than being locked to a term. It currently reads 3.01%, a shade above the 3% median across savings accounts. Anyone planning around a guaranteed figure for a set period should look elsewhere, because this account trades that certainty for easy access.
Is my money protected if the provider fails?+
Deposits sit under EU DGS up to EUR 100,000, and the Spanish operation is supervised by Banco de España. Read the figure as a ceiling rather than a target: any balance held above the stated amount has no cover from the scheme. Holding a workable amount elsewhere covers the rest without changing how this account works.
Monzo
What does it cost to keep the account day to day?+
The current account runs on a monthly fee of £0 and the savings pot takes a minimum deposit of £0. Loans add an arrangement fee of 0, and the credit card has an annual fee of £0, so the holding costs sit at the cheap end.
Is my money protected, and who regulates the bank?+
Deposits sit with Monzo Bank Limited under protection of FSCS up to GBP 85,000, and the bank is licensed by the Prudential Regulation Authority in GB under 730427. Card and cash losses fall outside that protection, and the retail loss rate in our data runs at 70.15%.
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