Monzo

Monzo is a digital bank based in London. Tom Blomfield, Jonas Huckestein, Paul Rippon, Jason Bates and Gary Dolman founded it in 2015 as Mondo. Customers recognise it by the hot coral debit card. It received its full UK banking licence in 2017.

The bank has no branches. People open an account in the app, see their spending in real time and get notifications for each payment. Other features include pots for saving, bill splitting, overdrafts, loans and a paid tier with extra benefits. Monzo Business serves sole traders and small companies.

Monzo has several million customers in the United Kingdom. It was fined by UK regulators in 2025 over gaps in its financial crime controls. The company has been working toward launching in the United States and has set up a business in Ireland. Monzo is known for fast sign-up and a bright interface. It lets customers set budgets, see subscriptions, and get paid early by direct deposit. The bank is regulated by the Financial Conduct Authority and the Prudential Regulation Authority.