What is a Mobile Bank?Mobile banks are revolutionising personal banking that are 100% app-based! Are an alternative to traditional banks with fast, secure and easy-to-use apps for iOS and Android. In fact, mobile banks offer competitive banking services such as current accounts, savings accounts, business accounts, loans, insurance, and debit/credit cards, and often at a cheaper rate than traditional banks.
💸 Top Mobile Banks in the UK
Currensea
✔ Upgrade to Premium & Elite
✔ Integrates with UK current bank account
✔ Spend in all 180 currencies
✔ Low fees or 0% on the exchange rate
✔ Purchase protection
Suits Me
✔ Upgrade to Premium or Premium Plus
✔ Exclusive cashback rewards up to 15%
✔Contactless Mastercard® debit card and online banking app
✔ Available to anyone living in the UK
Revolut
✔ Upgrade to Plus, Premium, Metal & Ultra
✔ All-in-one app: current account, travel perks, investments, money transfers
✔ Exclusive cashback rewards
✔ Interest on Savings
Monzo
✔ Upgrade to Plus or Premium
✔ Interest on Savings
✔ Monzo Flex Available (Interest-free over 3 instalments)
Currensea Card
Currensea offers a revolutionary service that addresses the common pain points of international travelers. Its direct debit travel card saves users a significant amount on transaction fees, provides advanced security features, and even contributes to environmental causes. The website is user-friendly and clearly outlines the features and benefits of each pricing plan. Additionally, the commitment to environmental sustainability is a commendable initiative that sets Currensea apart from its competitors.
Suits Me Card
Suits Me is a hassle-free alternative to traditional banking, allowing you to open an e-money account in less than 3 minutes without any credit checks. It offers a range of features including a contactless Mastercard® debit card, the ability to add and take out cash at local shops, send and receive money in the UK and abroad, pay Direct Debits and Standing Orders, and earn up to 15% cashback with partners. Additionally, they offer multi-lingual support, a referral program, and a dedicated Customer Account Manager. However, it is important to note that Suits Me is a fee-paying e-account and is not covered by the Financial Services Compensation Scheme, although they do hold funds in a segregated account for protection against insolvency.
Revolut: The digital financial app with perks
Revolut is a financial technology company that offers a wide range of financial services through its app. From easy money management, travel perks, and budgeting and analytics tools, Revolut aims to make financial transactions and investments easier and more accessible. It offers features such as sending and requesting money, earning interest (variable) that are paid daily with Savings Vaults, exclusive rewards and cashback. Additionally, Revolut provides travel-related services such as booking accommodations with cashback, spending abroad at real exchange rates, and lounge passes. Revolut also emphasizes its strong security systems and trusted partners to provide end-to-end security.
Monzo Mobile Bank
Monzo is a digital bank that offers a mobile app with a user-friendly interface, transparency in pricing, and innovative features such as Pots and Monzo Flex. With no hidden fees, no foreign exchange fees, and fee-free ATMs, Monzo makes it easy to manage your finances and make international transactions. Pots allow you to create separate savings accounts with specific goals, and Monzo Flex offers flexible payment options for eligible purchases. While there have been occasional issues with customer support and technical glitches, Monzo is widely regarded for its safety, convenience, and innovative banking experience.
