When deciding between Bunq and Monese, it’s important to evaluate which features best align with your financial needs.
This comparison will highlight key differences, from mobile banking capabilities to specific benefits, helping you make an informed choice.
Bunq
Monese
How do Bunq and Monese compare?
Monese and Bunq are two popular mobile banks that offer unique features, but they cater to different user needs and preferences.
Monese is designed for individuals who need a fast and easy way to manage their finances on the go. It offers services such as a multi-currency account, a contactless Mastercard, and international money transfers, making it ideal for travelers or expats. Monese is available in multiple languages, which further enhances its appeal to people living abroad. The bank offers a free plan, as well as a premium plan with additional benefits. However, Monese charges fees for certain services like international transfers.
Bunq, on the other hand, focuses on a more personalized banking experience. It provides personal and joint accounts, along with tools like budgeting features and real-time transaction notifications. A standout feature of Bunq is its “green accounts,” which enable users to invest in sustainable projects. Bunq operates on a subscription model with various pricing tiers, giving users more flexibility based on their needs. Additionally, Bunq offers unlimited free transactions across all its plans, making it attractive for users who prioritize free and seamless banking.
In terms of fees, Monese has a free plan with additional costs for certain services like international transfers, while Bunq’s subscription plans include unlimited free transactions, appealing to those looking for more comprehensive banking features with fewer transaction costs.
Overall, Monese is an excellent option for people who need a straightforward, mobile-first solution for managing finances quickly and easily, especially for international transfers. Bunq, on the other hand, is suited for those seeking a more customized banking experience with sustainable investment options and comprehensive financial tools. The choice between the two depends on whether users prioritize ease of use and international capabilities (Monese) or a more tailored and sustainability-focused approach (Bunq).
Founded: 2012
Headquarters: Amsterdam, Netherlands
Users: +14.5 million
Countries available: 30
Account plans: Personal users and Businesses
Go to Bunq
Founded: 2015
Headquarters: London, UK
Users: +2 million
Countries available: 30
Account plans: Personal users and Businesses
Go to Monese
Why use a neobank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.