Is Monzo safe? How we help protect your money
Wherever you keep your money, you want to know it’s safe. So it’s fair to have questions about how your bank protects it. Here, we’ll explain how your money is protected with Monzo, and the security features we use to help keep your account safe.
Is Monzo a bank?
Yes, Monzo is a fully regulated UK bank. This means we’re authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. They’re the organisations that regulate all banks, including the high street banks you’re familiar with.
Is Monzo FSCS protected?
The money in your Monzo account is protected by the Financial Services Compensation Scheme (FSCS). This is an independent body that protects your money if your bank, building society, or credit union were to fail. Because we’re a member of the FSCS, money in current accounts is protected up to a value of £120,000 per person. Investment accounts like Stocks & Shares ISAs and General Investment Accounts (GIA) are protected with a separate £85,000.
Which security features can help keep my money safe?
The Monzo app is packed with security features which are designed to help keep your money safe from fraudsters and unauthorised access. With bank scam attempts in the UK rising 62%¹ in 2025, it’s never been more important to know what tools are available to you.
Here’s a quick look at our features and how they help keep you safe:
Biometrics
If your phone supports it, you can use your face or fingerprint – known as biometrics – to unlock the Monzo app and approve payments. Unlike a PIN, your face or fingerprint can’t be guessed or watched over your shoulder as you enter it.
That might mean:
Face ID or Touch ID on an iPhone
Fingerprint unlock, face recognition or face unlock on Android
Monzo doesn’t use your biometrics for anything besides protecting you and your money.
Added security
Added security is a recommended feature that helps protect larger payments and withdrawals from your Pots.
You can choose from 3 controls:
Known locations: choose places you trust, like home or work, where you can approve larger payments
Trusted contacts: ask someone you trust to double-check larger transfers
Secret QR code: get a unique code that you scan with your phone to prove it’s you
Choose at least 2 of the 3 controls. They’ll work together to give your account another layer of protection.
Call Status
Scammers can pretend to be your bank – calling or messaging you and trying to rush you into moving money or sharing information. Call Status lets you check whether it’s actually us.
If someone calls saying they’re from Monzo, open the app and check Call Status before doing anything they ask. If we’re calling you, you’ll see it on your homepage.
If something doesn’t feel right, hang up. You can always contact us through the app instead.
Virtual cards
Virtual cards give you separate card details to use online, so you don’t have to share the numbers on your physical card. That can be handy if you’re buying from somewhere new, signing up for a subscription or just want more control over where your card details end up.
They work like separate card details in the app, so you don’t need to use the numbers on your physical card.
Card freezing
Lost your card or spotted a payment you don’t recognise? You can freeze your card in the Monzo app to stop new payments. And if it turns up down the back of the sofa, you can unfreeze it again in seconds.
If you think someone has used your card or account without your permission, report it in the app. We’ll help you figure out what to do next.
Instant notifications
Turn on instant notifications and you’ll get an alert whenever your card is used. So if a payment pops up that you don’t recognise, you can spot it quickly and freeze your card in a few taps.
Undo payments
You can undo payments if you made a mistake, like if you think you sent money to a scammer. The undo timer’s set to 15 seconds by default but you can set it to 10, 15, 30 or 60 seconds.
Where can I find my security settings in the Monzo app?
You’ll find your security tools together in Security in the Monzo app. From there, you can add extra protection, check which devices are logged in, freeze your card and report fraud if something doesn’t look right.
Learn how to spot scams
Scammers are always changing how they work, so it helps to know what to look out for.
In Security, you’ll also find short guides to common scams, the tricks criminals use and what to do if something doesn’t feel right.
A few things to remember:
Monzo will never ask you to move money to keep it safe
We won’t ask for your full PIN, password or card details
If someone’s rushing you, pressuring you, or telling you to keep something secret, stop and check
We’re also here to help if you’ve experienced fraud – you can contact us through the Monzo app.
Take a few minutes to check your security
It’s worth checking your Security settings every so often. You can see which devices are logged in to your account, review connected apps and check the protections you’ve turned on.
Spot a device you don’t recognise? Remove it. And if there’s an app you no longer use or don’t recognise, disconnect it.
A few minutes now could help keep your money safer later. Open the latest version of the Monzo app, tap your profile picture or initials, then go to Settings > Security.
Learn more about our industry-first security features
You’ll need a Monzo current account. UK residents only. Ts&Cs apply.
Questions? Answers.
Are online banks safe?
Having physical branches doesn't influence the safety of a bank. All high street and online banks follow the same strict safety and security rules, and are regulated by the same organisations. Always check to see whether the bank you’re using is authorised by the PRA and FCA, and whether it’s FSCS protected.
What about buyer protection?
When you spend on your Monzo card, not only do you benefit from our own security features, but you’re also protected by the Mastercard chargeback scheme.
A chargeback is a safety net that helps you get your money back from a retailer’s bank if there’s a problem with a purchase. A chargeback might be possible if:
The item or services you paid for didn’t arrive or weren’t what you expected
A company you bought from has gone out of business
You were charged the wrong amount or charged twice by mistake
While a chargeback isn’t always guaranteed, it’s a tool that offers extra security when you’re shopping.
What actions can I take to stay safe?
Open the Monzo app and tap your profile picture or initials. Then go to Settings > Security. From there, you can:
turn on added security for large payments and savings withdrawals
freeze or unfreeze your cards in seconds
check which devices you're logged in on
manage apps connected to your account
check if you're really speaking to Monzo with Call Status
create virtual cards to help protect your card details
report fraud if something doesn't look right
learn more ways to keep your money safer
Everything's together, so you don't need to search through different parts of the app.
Sources
1. BioCatch data covering more than 100 million retail banking accounts at 9 UK lenders, reported by Security Brief UK, April 2026. Available at: securitybrief.co.uk