Last updated: 22 August 2026

By Stiv · Design, technology and personal finance

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If you're weighing up Monzo vs Chase in 2026, you're in good company. Both are app-only banks, both are free to open, and both promise to make managing your money less painful. However, once you dig past the slick onboarding screens, the two take noticeably different approaches to savings, cashback and everyday features.

Chase (a trading name of J.P. Morgan Europe Limited) lures new customers with a boosted saver rate and 2% cashback on everyday spending. Monzo, the UK's original fintech darling, counters with powerful budgeting tools, paid plan perks like a free Railcard, and one of the most feature-rich banking apps on the market.

Below, we break down every meaningful difference so you can pick the one that actually fits your life. We also link to both referral offers if you want a bonus for signing up.

Comparing Monzo with more than Chase? I have also put it against Starling and Zopa's Biscuit, and my Monzo guides hub collects every Monzo guide in one place.