Is Monzo a bank?

Monzo US is not a bank - we're a financial technology company designed to support your money goals like smart spending, saving, and budgeting.

As of July 18, 2025, we've partnered with Lead Bank to provide FDIC-insured banking services that our US customers want and love. Account-holders who joined Monzo prior to July 18, 2025, are backed by Sutton Bank.

All debit accounts backed by Lead and Sutton are FDIC-insured up $250,000 and Savings accounts up to $250,000.