About
Monzo is a UK app-based bank whose customers pay with a Monzo debit card in store and online, get paid into their account and organise money into Pots in the Monzo app. The operator, Monzo Bank Limited, is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA, so it is a full bank rather than an e-money firm and deposits have FSCS protection up to GBP 120,000. It has also won a Central Bank of Ireland banking licence and launched in Ireland. Monzo's 2026 annual report counted 15.2 million customers, 10.4 million monthly active users and GBP 73.0 billion of card spend, and 49% of active users treat it as their main bank.
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