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Monzo is a UK-regulated bank, and eligible deposits are protected by the FSCS up to £120,000 per depositor per bank under Monzo’s December 2025 information sheet. That protection has eligibility and aggregation rules; it does not guarantee against fraud, loss of app access, or losses above the limit. No sale of Monzo Bank Limited is established by the sources cited here. A parent-company share sale is not automatically a sale or transfer of the bank.
Is Monzo a real UK bank?
Yes. Monzo says Monzo Bank Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). That identifies it as a regulated bank, rather than simply a technology app offering an account through an unnamed provider. See Monzo’s safety guidance.
Regulation and deposit protection are important safeguards, but they are not a guarantee against every kind of loss or disruption. The FSCS protection described below applies to eligible deposits if a bank fails; it is different from protection against scams, card disputes, temporary account-access problems, or investment losses.
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How much of your money is protected if Monzo fails?
Monzo’s FSCS information sheet, Version 2.0 dated December 2025, states that eligible deposits are protected up to £120,000 per depositor per bank. The limit applies to eligible deposits held with the same bank in aggregate, not separately to each Monzo account. Check the current Monzo and FSCS information sheet and Monzo’s deposit-protection guidance for eligibility details.
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How the limit works
The information sheet illustrates aggregation with a depositor who has £80,000 in savings and £50,000 in a current account: if those are eligible deposits with the same bank, the FSCS would pay £120,000 and the depositor could lose the remaining £10,000. Moving money between eligible accounts at the same bank does not create a separate protection limit.
- Joint accounts: Each eligible holder has their own £120,000 limit, according to the December 2025 information sheet.
- Eligible business deposits: The information sheet says these are treated as one depositor.
- Eligibility: Do not assume every Monzo product or balance qualifies. Confirm the status of the specific account and funds.
- Contact details: Keep them current so the FSCS can contact you if needed.
The £120,000 figure is the limit stated in that dated information sheet, not a promise that every product is covered. Check the current terms rather than relying on an older document.
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What Monzo’s security features can—and cannot—do
Monzo describes several controls in its safety guidance. These are features the bank says it offers, not independent evidence that fraud or account-access problems cannot happen.
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- Trusted contacts or known locations, and a secret QR code for relevant security checks.
- Call Status, which helps check whether an incoming call is genuinely from Monzo.
- Virtual card details, device review, and the ability to freeze a card.
Monzo also says chargeback may help with certain card-purchase disputes, but it is not guaranteed. Chargeback is not FSCS deposit protection, and neither should be treated as a general promise to reimburse all losses.
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What does the FCA’s Monzo fine mean?
The FCA announced a £21 million fine for failings in Monzo’s financial-crime controls, including onboarding, customer risk assessment, and transaction monitoring. The regulator said Monzo completed a change programme to remediate and enhance its wider framework. Read the FCA announcement for the enforcement details.
This is relevant context when assessing Monzo’s controls and governance. It is not, by itself, evidence that eligible deposits have lost FSCS protection; that protection depends on the scheme’s rules and the eligibility of the deposits.
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Has Monzo been sold?
The cited sources do not establish that Monzo Bank Limited has been sold. Monzo’s FY2025 annual report refers to a secondary share sale and describes Monzo Bank Holding Group Limited as the group financial holding company, with Monzo Bank Limited as its UK bank subsidiary. A secondary share sale can involve shareholders selling shares; it is not, on its own, proof that the licensed bank was sold or customers’ accounts transferred. See the FY2025 annual report and Companies House filing history for Monzo Bank Holding Group Limited.
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Monzo’s FY2026 annual report overview reports £25.7 billion in deposits and 15.2 million total customers. Those are company-reported scale figures, not independent measures of safety or solvency. They do not establish that a sale took place. See Monzo’s FY2026 annual report overview.
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Would your account automatically move if Monzo were sold?
There is no transaction-specific answer in the cited material because it does not establish an announced sale of Monzo Bank Limited. The effect of a future deal would depend on which legal entity changed ownership, the transaction terms, and any official notices. It would be misleading to promise that accounts, terms, app access, or deposit protection would stay unchanged—or to predict that they would change.
If Monzo or another authorised body announces a transaction, read the customer notice and check:
Quick Recap
- Which authorised bank would hold your deposits after the transaction.
- Whether your specific balances remain eligible and within the applicable FSCS limit, including aggregation with any other accounts at that bank.
- Whether the notice requires you to take any action, and what it says about account terms or access.
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