Monzo is a British digital bank that works entirely through an app. Its offering includes personal current accounts, joint accounts and accounts for young people, savings products, credit cards, loans, investments, pensions and insurance, with budgeting tools such as Pots and round-ups. It is aimed mainly at UK residents; a business account can only be opened by UK sole traders and directors of limited companies.
Monzo Bank Limited is headquartered in London, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, and has no foreign parent company. At the end of 2025 Monzo also received a banking licence in Ireland. The software is not open source. According to its privacy policy, data may be stored outside the United Kingdom or transferred abroad, relying on a UK government adequacy finding or approved contractual safeguards; cloud providers are not named. A European organisation therefore has to establish the storage location itself.