Compare UK online banks that offer digital banking services through their website and apps. Online banking can help you manage money more efficiently with automated savings pots, instant digital transfers, spending notifications, balance updates and more.
| Bank | Description | Account Types | Fees | User Interface | Security | Open Account |
|---|---|---|---|---|---|---|
 Wise |
International payment provider with the best options for holding your money in a variety of currencies. | Current Account | £45 one off multi-currency fee, no monthly fees thereafter | Easy to transfer currencies and make international payments | Dedicated fraud team and bug detection incentives | Open Account |
| Hold money in up to 40 global currencies allowing you transfer to any currency. Open 10 currency accounts to allow payments in AUD, USD, EUR, GBP, NZD, RON, SGD, TRY even if UK based. Pay globally in any currency you hold with a single debit card around the World. Enjoy up to 4.66% (variable) interest on balances held in GBP, USD or EUR. Investing options in multi-currencies | ||||||
 Revolut |
Online bank and fintech app providing multi-currency accounts and money management tools. | Current Account, Savings Account | £3.99 – £45 per month(account type) | Acount UI is both loved and hated | High | Open Account |
| Physical and virtual card options available. Send and recieve money in 29+ different currencies. Exchange up to £1,000 per month into 29 different currencies, with no extra fees. Up to 4.75% AER/Gross (variable) interest in savings vaults (different currency savings options available, USD, EUR – rates vary). Cashback and discounts on spending when you use your Revolut card. Manage monthly subscriptions to easily track and stop unwanted services. | ||||||
 Starling |
Mobile-only bank offering current accounts and digital banking services. | Current Account, Joint Account | All acounts fee free (unless overdrawn) | Easy to understand manage and see breakdowns, payment notifications are welcome | Full ID verification, Biometrics and payment approvals | Open Account |
| £0 monthly fee banking. 24/7 customer support with real humans. Instant payment notifications and real time transactions. Up to 3.25% savings rates (up to £5,000) – not for business. No fees for overseas transactions. Detailed payment categorisation breakdowns. Settle up quick payment system. Digital cards and management available. | ||||||
 Monzo |
Spend and save in one account. Create “pots” for spending and for specific goals. | Current Account | £0 to £17 per month fees | Lab driven UI iterations, driven by real user feedback | Biometrics, anytime card freezing, Stop Scams member | Open Account |
| Free account offers 4.10% interest, up to 4.60% on paid account. Instant spending notifications. 0 fees for spending abroad. £3 pm account offers free cash withdrawals in U.K. and EEC, up to £600 each 30 days fee free elsewhere in the world. Borrowing and premium account benefits available; railcards, free Greggs, discounted investments, travel insurance. | ||||||
 Monese |
Free instant accounts for GBP, EUR and RON | Current Account | £0 to £14.95 per month fees | UI isn’t groundbreaking | Biometric security, one time passcodes, card locking on all accounts | Open Account |
| Accounts are quick and easy to open, 1x ID only to open mobile only accounts. Save with dedicated pots. Send money abroad for less. No interest paid on savings balances. | ||||||
 Chase |
Up to 5% interest on round up pots | Current Account, British bank award winner 2023 | No monthly fees | Clean simple APP UI | High | Open Account |
| 1% cashback on spending with chase debit cards. 1% gross interest on account balance. Up to 4.1% interest with a Chase saver account. Up to 5% interest paid on round up pots, where interest is paid on money saved through round ups to the nearest pound. | ||||||
 Kroo Bank |
Pots supported to help you save for specific goals | Current Account | No monthly fees | Simple designs for ease of use | Biometric logins, card freezing | Open Account |
| Up to 4.35% interest on current account balances. Fee free spending at home or abroad. | ||||||
How to Compare Online Banks
Online banks can offer convenience, advanced transaction notifications, innovative ways to save and extra features which aren’t always available with conventional high street bank accounts.
With an online bank you’ll typically be able to enjoy:
- access to your money whenever through a mobile app and website
- making transfers and payments whenever you need to
- permission to make payments to cryptocurrency currency exchanges which many high street banks have blacklisted
- easier and smoother handling of global currencies with fee free euro, USD or foreign currency spending, something still beyond the capability of most conventional banks.
This added convenience of modern, innovative banking organisations can give you access to your banking services at anytime, anywhere in the World and can help you manage your money effectively, prevent you from going overdrawn and help you understand clearly, how much you’ll pay for spending abroad.
Here are the most important features, benefits and best parts of digital banks for you to consider.
What to consider when choosing an online bank
Think about the following features and consider which are the most important for you.
- Highly intuitive digital experience – one of the key benefits digital banks offer over high street and traditional banks is a digital experience designed from the ground up. For example, apps like Starling offer such comprehensive features, management and interactions with your money that there’s barely any need to log in to the web portal.
- Features, automation, tooling and efficiency – Digital banks typically have long lists of features, only some of which are tangibly useful to customers. However, among these, there can be some genuinely interesting product features. For example, expense categories which allow you to monitor, track and review how you’ve spent money overtime. These categorisation features can help you review and refine spending habits so you can gradually begin to improve your financial situation and cut back on unnecessary spend. Also useful are “round ups” offered by banks like Monzo which allow you to save the difference between any amount you spend and the next whole pound. For example, if you were to spend £2.65 on lunch, 35p can automatically be transferred across to a savings pot or account. Even better, is Monzo allows you to add your round ups to an investment pot if you prefer, helping you increase returns by putting money into the stock market.
- Security and protections – you’ll want your money, personal details and spending to be protected and the online banks that do this best are those which take every aspect of security seriously. So when choosing a bank check the security features they offer.
- Are your login details encrypted and protected
- Does your bank support biometric logins when you access your account via your phone
- Do they help you understand what a strong password would be?
- Do they support 2 factor authentication when you’re trying to login on a new device or different browser?
We’ve included details of some of the security features each of the banks in our comparison offers to help speed things up for you.
4. Customer support if things go wrong – you can hope for great customer service but not every bank is renowned for it. Check customer service satisfaction ratings for the banks you’re considering signing up with before you create an account to make sure they can offer support if you have questions, concerns or run into problems with your online banking.
5. Integration with software – if you’re a business user, you’ll want an account that includes integrations with business accountancy tools, like Quickbooks, Xero or Sage. These digitally founded banks can offer seamless integration with these tools via an API making your business performance simpler to track, invoices easy to clear and taxes clearer to calculate. We’d recommend business users choose a digital bank because; they don’t charge fees (unlike high street banks which may levy charges after an introductory offer), they invest in connected technology – one of the early benefits of open banking was the rise of digital banks and a smart approach to money management helped set them apart from established organisations, therefore, you can expect more reliability when using connected services with digital banks vs traditional institutions.
6. Education and assistance – A growing trend among progressive, online and app based banks, is the investment in dedicated resources to help grow, promote and perpetuate financial literacy to customers. Some digital banks are aiming to offer knowledge and resources if you’ve had trouble managing money in the past or don’t understand more complex financial products. Commonly, digital banks are more likely to support you through a “learn as you do” initiative than any established organisation.
More Generic Features of Online Banks
More generically, online banks should also aim to improve your overall experience of banking. Most digital banks were founded on the principals of; the ability to skip frequent visits to branches and the ability to manage everything on your smartphone.
So, digital banks should be able to offer you:
- User-Friendly Interface: Simplified financial management via their app and web based service. You should be easily able to enjoy fluid money management, set up bills, direct debits while getting notifications. We’ll rate banks we feature better if they are easy to use, they provide clear information, they’re easy to navigate and make essential banking features available.
- Comprehensive Account Features: Every account needs the basic range of features, standing orders, direct debits, competitive interest rates, investment accounts, credit cards, loans or international payments all in one place then you’ll want to make sure you choose an online bank that offers all of these features.
- In branch service replacement: If you’re running a business which handles cash, or frequently have cash which you pay into your bank account, you’ll want to consider how your digital only online bank facilitates the deposit of cash and cheques into your bank account. Most usually request that you send over cheques to a designated postal address with your account details listed. Consider carefully if this will work for you and if you’re confident sending money to your bank to be deposited.
Why our Online Bank Comparison?
We’ve added some of the UK’s best online banks to our comparison and detailed what makes them worthwhile considering.
While our service is does not offer everything you’ll ever need to know about every online bank, it does allow you to clearly see which banks might be better suited to offering the services you need.
So whether you’re looking for a specific feature, like buying a specific type of
Which online banks are the most popular?
Well, popularity is challenging to manage, but the most popular online banks by search volume are:
| Online Bank | Search Interest (exact) | Search Interest (all) |
| Revolut | 246,000 | 712,700 |
| Wise | 165,000 | 320,800* |
| Monzo | 165,000 | 940,750 |
| Starling Bank | 135,000 | 714,930 |
| Kroo Bank | 24,700 | 44,180 |
*Wise “all search” data is approximated, because search intent is shared between multiple “wise” entities. All figures correct as of May 2024.