monobank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
monobank is built for Ukrainian customers who want their everyday card, their savings and their borrowing in one place, including sole traders running a business account. The business account has a monthly fee of UAH 0 and a free ATM allowance of UAH 50,000, and the deposit pays a headline rate of 16%.
Key facts
- Best for
- A no-fee debit card, a fixed-rate deposit and instantly funded installments from one Ukrainian bank.
- Monthly fee
- UAH 0↗
- Free ATM withdrawals
- UAH 50,000↗
- Card type
- Debit↗
- Legal entity
- JSC UNIVERSAL BANK↗
- Headquarters
- Ukraine↗
- Founded
- 2017↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Features
- Same-day funding, Credit line
- Audience
- Business
- Official website
- monobank.ua
Loans
- Loan amount
- UAH 1,000 to UAH 100,000↗
- Term
- 12 to 24 months↗
- Arrangement fee
- 1.9% per month of the initial purchase amount↗
- Funding time
- Instantly to the monobank card↗
- Rate type
- Fixed↗
- Lender type
- Direct lender↗
- Free early repayment
- No↗
- Origination fee (%)
- 1.9%↗
- Loan types
- Personal, Credit-line, BNPL↗
- Pricing model
- Fixed rate
Pros and cons
Pros
- The business account carries a monthly fee of UAH 0 with a free ATM allowance of UAH 50,000.
- The deposit pays a headline rate of 16% at a fixed rate across terms of 12 to 24 months.
- Installments fund Instantly to the monobank card, with an origination charge of 1.9% per month of the initial purchase amount.
- Support runs on email, chat and phone.
Cons
- Free early repayment is not offered, so clearing an installment before schedule costs extra.
- Deposits auto-renew by default, so a lower headline rate only helps if the balance is moved by hand.
- The deposit side carries a minimum of UAH 1,000 in hryvnia, and the pricing here is built for Ukraine.
Who it suits
- Sole traders and small businesses that want a business account with a free ATM allowance of UAH 50,000
- Savers who can leave money for a fixed term of 12 to 24 months and earn 16%
- Borrowers who want a credit line that funds Instantly to the monobank card
Who should look elsewhere
- Wise, if you hold money in several currencies and would rather pay a monthly fee of £0
- bunq, for a euro account outside Ukraine with a monthly fee of €0
Rates and card terms
The deposit pays a headline rate of 16% at a fixed rate, and the term runs 12 to 24 months. A fixed rate means the return is set when the placement opens, so market moves do not change what the balance earns, and the only decision left is how long to lock it in for. Longer terms suit money that will sit still, and the shorter end of the range suits money that might come out sooner.
How monobank compares
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Where monobank is available
- Available
- Ukraine
- Licence in Ukraine
- National Bank of Ukraine, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the monobank card cost each month?+
The business account has a monthly fee of UAH 0, and the card itself is a debit card rather than a credit card. Cash withdrawals are covered up to UAH 50,000, a strong allowance for an account aimed at business use, so the ATM rarely costs anything.
How much does the deposit pay?+
The headline rate is 16% and it is fixed, so the return does not drift with the market while the money stays in place. The term runs 12 to 24 months and the minimum deposit is UAH 1,000. A fixed rate is worth most if the balance can be left alone for the full term.
Can I withdraw from the deposit before the term ends?+
Deposits can sit on a fixed or flexible basis across terms of 12 to 24 months, and you can withdraw or reinvest whenever you like. The catch is that placements auto-renew by default, so a lower headline rate only helps if the balance is moved into a new deposit by hand.
How fast do installments arrive, and what do they cost?+
Funding is Instantly to the monobank card, and the loan types listed are personal, credit line and bnpl. Borrowed amounts run UAH 1,000 to UAH 100,000 in hryvnia, with an origination charge of 1.9% per month of the initial purchase amount. The direct lender model means the bank lends its own money rather than passing you to a broker, so pricing sits in one place.
Is early repayment free on an installment?+
No. Free early repayment is not offered, so paying an installment back ahead of schedule can cost extra. The charge that does apply is the origination fee of 1.9% per month of the initial purchase amount, taken on the initial purchase amount. Anyone expecting to settle early should get the early repayment terms in writing first.
Who regulates monobank?+
The accounts and deposits sit with JSC UNIVERSAL BANK, a Ukrainian bank headquartered in Ukraine and regulated by the National Bank of Ukraine. It has been trading since 2017. The published terms do not set out deposit protection cover, so confirm any protection with the bank before placing a large balance.
How do I get help?+
Support runs on email, chat and phone, so email, chat, phone and a help centre are all available. A question about the deposit rate or an installment charge is worth putting to them in writing, since a fee dispute is easier to settle with a dated record of what was agreed.
How common are losses for ordinary customers?+
Across the listings on this site, the share of retail customers reported as losing money has a median of 70.15%. The lower quartile is 65.75% and the upper quartile 74.5%. Read that as background on the wider market, not a figure for monobank itself.
Sources
- monobank.ua/about checked September 26, 2026
Backs: Legal entity, Lender type, Licences
“monobank is a retail product of JSC UNIVERSAL BANK”
- monobank.ua/black checked September 26, 2026
Backs: Card type
“Use the virtual card as you like. Or order a physical one - black card”
- monobank.ua/en/contacts checked September 26, 2026
Backs: Support channels
“Calling from Ukraine 0 800 205 205; Email us: info@monobank.ua; Telegram, Viber, WhatsApp, Facebook Messenger, iMessage; Knowledge base”
- monobank.ua/en/deposit checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Pricing model, Rate type, Term
“Cash out or reinvest - change your mind anytime; From 3 to 24 months; Auto-renews by default”
- monobank.ua/en/fop checked September 26, 2026
Backs: Free ATM withdrawals, Audience, Monthly fee
“Withdraw up to UAH 50k/month fee-free - mono SP account”
- monobank.ua/installment checked September 26, 2026
Backs: Loan amount, Features, Free early repayment, Funding time, Loan types, Arrangement fee, Origination fee (%)
“Minimal loan amount - 1,000 UAH / Maximum loan amount - 100,000 UAH”
- uk.linkedin.com/company/monobankua checked September 26, 2026
Backs: Founded, Headquarters
“founded in 2017”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Protection.
Related by the facts
monobank
A no-fee debit card, a fixed-rate deposit and instantly funded installments from one Ukrainian bank.