Monzo vs Trade Republic Card
Neither wins across the board: weigh the points above against your use case before choosing between Monzo and Trade Republic Card.
| Monzo | Trade Republic Card | |
|---|---|---|
| Tier | A | A |
| Rating | ★ 4.1 | ★ 4.0 |
| Estimated net annual cost | €0 | €0 |
| Account fee | Free | Free |
| IBAN | dedicato · GB | — |
| Multi-currency | No (single currency) | EUR |
| Outbound transfers to third-party IBANs | Yes | — |
| Utility direct billing | Yes | — |
| SEPA direct debit (SDD) | Yes | — |
| ATM withdrawal | not declared | Free |
| Fund custody | Custodial (platform holds funds) | Custodial (platform holds funds) |
| KYC | Full | Full |
| Supported countries | UK · 1+ countries | EEA · 18+ countries |
| Regulator | PRA, FCA, Central Bank of Ireland / ECB | BaFin |
| OAM Italy registration | No | — |
| Segment | B2C | B2C |
| Deposit guarantee | — | EU guarantee €100,000 |
| Interest on balance | — | 2% |
| Network | — | Visa |
| Free ATM limit | — | €1 di commissione per prelievi sotto €100; prelievi gratis sopra €100 |
| Regions | UK | EU/EEA |
| Licences & safety | Full Banking License (UK, PRA/FCA), EU banking licence (Central Bank of Ireland / ECB, 2025) | Licenza bancaria tedesca completa (BaFin), Vigilanza Deutsche Bundesbank |
Frequently asked questions
Monzo vs Trade Republic Card: which is better?
Neither wins across the board: weigh the points above against your use case before choosing between Monzo and Trade Republic Card.
Which is cheaper, Monzo or Trade Republic Card?
On the standard spending profile Monzo has the lowest net annual cost: €0 versus €0 for Trade Republic Card.
Is Monzo custodial or self-custody?
Monzo is custodial: funds are held by the platform, while Trade Republic Card is custodial.