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Original poster

Mondo or Revolut

42 replies

JustToBeMe · 22/05/2023 06:36

In your opinion/experience which is the better of the two,
Mondo or Revolut.

Or is there another out there that you use and like.

OP posts:
LittleFreakJezebel · 22/05/2023 06:50

What is your main reason for wanting one?

I have a Revolut card which I used to use for travelling abroad but I now use Chase as my main current account so can just use that instead which is easier.

Menopants · 22/05/2023 06:52

i love Monzo I think it is slightly cheaper than revolut abroad. The app is great but I imagine all the new app banks are fairly easy to use.

Dedodee · 22/05/2023 06:53

I’ve only had Revolut.
It works well for me. I use the slush fund too. Every transaction is rounded up to the next € and the excess put into my slush fund, it’s amazing how much you can save without trying.

Definitelynotem · 22/05/2023 06:57

Monzo for sure! You don’t have to bother converting the money to go abroad, you just use it like you would a normal card. The user interface is much better too I think.

Tinytigertail · 22/05/2023 07:00

I have Monzo and Starling and love them both. I'd say that Monzo has a slightly better interface, but they are both great for using abroad.

TrashyPanda · 22/05/2023 07:00

Monzo

Beezknees · 22/05/2023 07:01

Definitelynotem · 22/05/2023 06:57

Monzo for sure! You don’t have to bother converting the money to go abroad, you just use it like you would a normal card. The user interface is much better too I think.

You don't need to convert with Revolut either, I never have

Definitelynotem · 22/05/2023 07:04

I had mine a long time ago so it’s possible that I’m wrong or that it’s changed! My personal preference would still be monzo 😊

Starlin · 22/05/2023 07:06

I have a wise account and love that. I can easily store multiple currencies and conversion is super easy.

Roundandnour · 22/05/2023 07:06

I love Revolut.
Can send my dd money abroad without incurring fees - when she travels she also takes advantage of the airport lounge scheme! Cash back on loads of things.. Learnt about crypto, didn’t cost me a penny. Oh and how to mine.

Also have an under 18’s linked to my account. Really good to make sure ds isn’t being used financially like he used to be. Only named people can send him money which os a bonus.

Virtual disposable card giving a bit extra protection. plus purchase protection.

Only downside is if I try and take money out in an atm I seem to get charged randomly.

My main account is with Nationwide. Cannot fault them either. Only reason I would think about closing that one is if the next bank had a good financial deal to switch.

FinanceLPlates · 22/05/2023 07:06

Placemarking as I’m wondering about this too - also considering Starling or Chase for a second account.

Pinkplasticbathcup · 22/05/2023 07:07

Revolut’s in a bit of trouble at the moment I think. I have monzo and love it. It’s revolutionised my finances

Roundandnour · 22/05/2023 07:09

Dedodee · 22/05/2023 06:53

I’ve only had Revolut.
It works well for me. I use the slush fund too. Every transaction is rounded up to the next € and the excess put into my slush fund, it’s amazing how much you can save without trying.

Yea I do that as well with Revolut and Nationwide. Before I know it I have some serious money stored and the bonus obviously is don’t have to count and bank it 😂

AllThatFancyPaintsAsFair · 22/05/2023 07:10

What are your must haves in an account? Are you looking for an additional bank or to move an existing account?

QuintanaRoo · 22/05/2023 07:10

I used monzo and it was good. Had a slight issue when I tried to pay in a shop and it wasn’t accepted, rang them up while in the shop and they pressed a button there end and then it worked. So good, quick customer service.

QuintanaRoo · 22/05/2023 07:11

QuintanaRoo · 22/05/2023 07:10

I used monzo and it was good. Had a slight issue when I tried to pay in a shop and it wasn’t accepted, rang them up while in the shop and they pressed a button there end and then it worked. So good, quick customer service.

Meant to say, that was abroad on holiday. Apparently there’s something peculiar about Mexico which means they have to do something their end before the cards work in Mexico.

Thehop · 22/05/2023 07:11

I have 2 Monzo accounts and love it, but the Facebook groups for these online banks make scary reading.

GuffyTheDustBuster · 22/05/2023 07:15

I have Monzo and Chase and First Direct.
I much prefer the Monzo app. And I use this card the most (both UK and overseas)
Chase offers the best interest rate on current account balance.

BarbaraofSeville · 22/05/2023 07:18

I use Starling, which like Monzo is just a standard current account with fee and commision free overseas spending. I think Revolut is slightly different, but I'm not sure how.

It's not really an issue any more, but Starling used to have a slight advantage in that there were no fees at all for currency withdrawal, whereas Monzo charged above about £300 a month, but as long as you aren't going somewhere that's still very cash based, it won't affect you.

Original poster
JustToBeMe · 22/05/2023 07:19

Thanks

I'm going on holiday to mainland Spain.

I seem to remember posters mentioning one or the other on here.

Just wanted some opinions Grin

OP posts:
MyNewWittyUserName · 22/05/2023 07:20

I prefer wise.

Wittow · 22/05/2023 07:31

Thehop · 22/05/2023 07:11

I have 2 Monzo accounts and love it, but the Facebook groups for these online banks make scary reading.

@Thehop would you summarise what the FB groups say are scary about online banks?

bert3400 · 22/05/2023 07:37

We use Wise. We live in Spain and need to convert £ to € alot. They have the best rates and super quick. Also have Revolut but don't use it as often. DS ( adult) has a Monzo account for when he comes over which he is very pleased with . I think Money Supermarket have a good comparative list on thier website to get advice

MySugarBabyLove · 22/05/2023 07:51

Monzo have a reputation for closing accounts with no explanation. And while a bank has the absolute right to close an account, I’ve heard too many horror stories of people who have simply had notice from Monzo that their account is being frozen leaving them without access to money to pay food or bills.

It’s also worth bearing in mind that there are a lot of companies who won’t accept statements from online banks as proof of address/ID etc, so if you’re going to be in a position to need copy bank statements e.g. for a loan or mortgage or similar then it’s always worth having your main account with a mainstream bank.

I would only ever recommend the online banks as pocket money accounts.

HotelNotPortofino · 22/05/2023 07:54

I prefer Monzo over Revolut as in the latter your money isn’t protected by FCSC regulations

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