Monzo vs Starling vs Revolut for Students

7 min read Article Updated 2026-05-30

Three names come up whenever students talk about app-based banking in the UK: Monzo, Starling and Revolut. They look similar on the surface (sleek phone app, instant notifications, card freeze in a tap) but underneath they are built differently and the right one for you depends less on marketing and more on how you actually spend money at university.

This is the straight comparison for UK students, verified against each provider's current terms in April 2026. No sponsorship, no ranking bait. Fees, features, protection, and which account makes sense for which kind of student life.

Quick verdict

If you only read one paragraph: Monzo is the best all-round daily account for most students and has the largest friend network for splitting bills. Starling is the cheapest option for travelling and withdrawing cash abroad because it has no fees and no monthly cap. Revolut officially launched as a UK bank on 11 March 2026, meaning UK deposits are now FSCS protected, and it remains the most flexible app for holding multiple currencies.

You can open all three. They are free to run side by side.

Important: these are notstudent accounts

None of these three offer a 0% student overdraft. If your main reason for opening an account is the arranged overdraft (very common for first years), you want a proper student account from a high street bank. These three work best alongside a student account, or as your main account if you do not need an overdraft.

Monzo: the default choice on campus

Monzo is a fully licensed UK bank and the most widely used app bank among students. That size matters more than it sounds: splitting a tab, paying a flatmate for bills, or sending money for the group kitty is usually one tap because the person on the other end already has the app.

What it gets right for students:

• Pots for ringfencing rent, bills, and savings separately from your spending balance.
• Shared Tabs for flats and houseshares so rent and utilities split automatically.
• Bills Pots that direct debits draw from, so a missed pot top-up is much less painful than a missed main balance.
• FSCS protection up to £120,000 per person (the new limit since 1 December 2025).

Fees abroad: card spending is free at the Mastercard rate. ATM withdrawals are free and unlimited inside the European Economic Area if Monzo counts as your main bank. Outside the EEA you get £200 free every 30 days, then Monzo charges 3%. Monzo treats your account as "main bank" if you pay in at least £500 over 35 days with an active direct debit, or receive a DWP payment, or receive a student loan payment in the last 8 months. Most students on maintenance loan will qualify automatically.

Starling: the cheapest for travel

Starling is the other fully licensed UK app bank. Feature set looks similar to Monzo on paper, but the tone is different. Fewer notifications, a calmer app, and a stronger focus on saving. FSCS protection is the full £120,000.

What it gets right for students:

• Spaces that work like Monzo Pots, including round-up savings that sweep your spare change automatically.
• No fees abroad at all. Starling charges nothing for card spending or ATM withdrawals in any country, with no monthly cap, at the Mastercard rate. This is a genuine, verified difference from Monzo and the cheapest option of the three for travel and exchanges abroad.
• Easy Saver paying interest (2.50% AER as of early 2026) on balances up to £1m with full access, if you want to earn something on idle cash.
• Cheque deposit by photo, still useful for the rare birthday cheque from a relative.

Heads up on current account interest: Starling used to pay 3.25% AER on current account balances up to £5,000. It scrapped that rate on 10 February 2025, so the current account no longer pays interest. To earn on your money with Starling, you have to move it into the Easy Saver. Do not pick Starling expecting current account interest that used to exist; it does not any more.

Where it falls short: the social side is weaker. Fewer of your flatmates will be on Starling, so group splits often need manual bank transfers or a separate app. The flat-sharing features are not as developed as Monzo Shared Tabs.

Revolut: now a UK bank, still the multi-currency specialist

Revolut's UK status changed recently, so ignore older comparisons. On 11 March 2026 the PRA lifted the last mobilisation restrictions, and Revolut officially launched as Revolut Bank UK Ltd. Current accounts, Pockets, Joint accounts and Kids and Teens accounts are now FSCS protected up to £120,000. Stocks, crypto, commodities and trading balances are held in separate legal entities and are not FSCS protected, so do not treat Revolut as one single protected wallet.

Existing customers are being migrated to the new UK bank entity in phases over 2026. If you already have a Revolut account, your current balance is not yet necessarily on the new bank entity, so check your in-app plan and account details.

What it gets right for students:

• Interbank exchange rates on weekdays up to a monthly fair-use limit on the free Standard plan.
• Free ATM withdrawals abroad up to 5 withdrawals or £200 per rolling month on the Standard plan (whichever comes first). After that a 2% fee applies, with a £1 minimum per withdrawal.
• Hold balances in multiple currencies, which matters for students with family overseas, a year abroad, or summer work paid in another currency.
• Virtual and disposable cards for online shopping, better than your main card for free trials and sketchy sites.

Where it falls short: the free Standard plan adds a 1% markup on weekend exchanges (Friday evening through Sunday evening New York time). If you try to exchange on a Saturday, that 1% is still cheaper than most high street banks, but it is not free. The monthly ATM allowance is also lower than Monzo's main-bank EEA allowance if you withdraw large amounts of cash.

Side-by-side comparison

Which one for which student

You live in a flat or house with other students. Monzo. Shared Tabs and the fact that everyone is already on it make rent and bills painless.

You travel often or take a lot of cash out abroad. Starling. No fees, no cap, anywhere in the world. For heavy travel it beats both of the others on fees.

You are doing a year abroad, a placement overseas, or come from outside the UK. Revolut. Holding balances in multiple currencies is unique to it among the three, and it is now FSCS protected on the core bank accounts.

You want to earn something on money sitting around. Starling Easy Saver or a Monzo Savings Pot. The current account on all three pays no interest.

You want to keep things as simple as possible. Pick one of Monzo or Starling as your daily account, leave Revolut for travel, and open savings inside the same app so you are not juggling three logins.

Can you have more than one?

Yes, and most financially confident students do. A common UK student stack is:

1. A student account from a high street bank (for the 0% overdraft).
2. Monzo or Starling as your daily spending account.
3. Revolut for multi-currency or travel weeks.

Opening extra accounts is free. It will not hurt your credit file unless you apply for an overdraft or credit card on top. The admin is worth it if it keeps rent money, spending money, and travel money in visibly separate places.

FSCS protection, explained properly

FSCS is the UK scheme that compensates you if an authorised bank fails. The limit rose from £85,000 to £120,000 per eligible person, per bank for any failures on or after 1 December 2025. That limit is per banking group, not per account, so accounts held at the same parent bank share a single £120,000 ceiling.

Monzo, Starling, and (since 11 March 2026) Revolut Bank UK Ltd are all covered. Revolut's stocks, crypto, commodities and trading balances sit in separate legal entities and are not FSCS protected; only the core bank products are.

What about signup bonuses?

All three run referral schemes from time to time, usually small amounts when a friend refers you and opens an account. They are real but not life-changing, and they should not drive the decision. If a friend already uses one, take their referral link. If not, ignore the marketing and pick based on the sections above.

The honest recommendation

Most students are best served by Monzo as a daily account alongside a student account from a high street bank. Open a savings Pot, move rent into a Bills Pot the day your loan lands, and do not touch it.

Pick Starling instead of Monzo if you travel often, withdraw cash abroad regularly, or prefer a quieter app, and you are not relying on Shared Tabs for houseshare splits.

Add Revolut if you are spending significant time in another currency zone. Now that it is a UK bank with FSCS cover on its core accounts, it is safer to lean on than it used to be, but the free plan's weekend 1% FX markup and ATM limit still mean it works better as a second card than a primary one for most UK-based students.

Next steps

• Compare full student bank accounts with 0% overdrafts, so you cover the thing app banks do not do.
• Use the bank account comparison tool to filter by overdraft, perks, and incentive.
• Build a Pot or Space plan with the student budget calculator so you know exactly how much to ringfence for rent and bills each month.
• If you are close to graduating, read budgeting on a graduate salary before you start your first job.

Reviewed 26 Apr 2026 · Editorial standards

Written by

Jamie Hartwell

Jamie read Economics at Leeds and spent two years in student financial guidance before joining UniSorted as Finance Editor. He covers student loans, budgeting, banking, insurance, and graduate money. Most of his first year at uni was spent in his overdraft, which is why the budgeting guides have a section on what to do once you've already overspent. Contact: jamie@unisorted.co.uk