Is Monzo good for investing?
Independent review by Boring Money
Written by Boring Money
16 Feb, 2026
Investment expert's opinion
Nice simple way to start an investment ISA, which is worth a look for people who bank here. Clean interface and easy to follow information make it a painless experience, which Monzo customers will have come to expect. From an investment perspective, it's underpinned by global giants BlackRock - reassuringly big! Nothing flashy or exciting for traders or those who want to pick and choose, but if you're after something to get going with an investment ISA without frying your brain this is a pretty good choice.
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Monzo?
Monzo is an online bank which hit the market in 2015, founded by former employees of fellow fintech Starling Bank. It's currently based in London and one of its claims to fame is its 2016 crowdfund campaign, which became the “quickest in history” when it raised £1 million in 96 seconds. Monzo currently boasts more than 10 million customers.
Who is Monzo good for?
So now you know more about Monzo. Is it the right home for your money? We think it's a decent option if you're a beginner investor, someone who doesn't have a lot of time on their hands, or appreciates a little ESG consideration in their investments. But if you're more experienced and want a wider investment range or looking for the cheapest option, Monzo probably isn't best option for you.
Pros and cons
Investments
Monzo clients can pick from three different funds, which vary in risk level and provide access to investments from across the globe. The table below looks at these options in more detail.
Investment Style | What is it? |
Careful | Lower risk and reward. About 80% of money in bonds and 20% in shares. |
Balanced | Medium risk and reward. Roughly 34% in bonds and 66% in shares. |
Adventurous | Higher risk and reward. 100% in shares. |
In terms of what you're actually investing in, Monzo hands over this process to BlackRock – the world’s largest asset manager which manages the investments on their behalf.
The funds aim to invest your money in things that are 30% less carbon intensive than similar funds which don’t take environmental, social, or governance (ESG) criteria into account.
Accounts
Monzo offers a range of accounts. The table below shows a breakdown of which ones are available.
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | X | X |
Fees and charges
Fee Type | Amount |
Platform | 0.45% |
Fund Management Fee | 0.07%-0.65% depending on your investment |
You will pay 0.25% as a platform fee - this covers the service that the app provides - and from 0.07% for the actual investments, which are managed by BlackRock. Any amount you invest above £60,000 across your Investments and Pension is free from platform fees.
So if you select the MyMap 5 Select ESG Fund which has a fund management charge of 0.14% that's 0.39% all together, which works out to £3.90 per year on a £1,000 portfolio and £39 on a £10,000 portfolio. This is OK – not the cheapest for what it is, but OK. If you already are an Extra, Perks, or Max account holder, you'll automatically enjoy a preferential platform fee of 0.20% - that's a 0.5% savings off the standard 0.25% rate. These fees will be capped up to a maximum of £270 year (or £210 with Monzo Perks or Max), plus ongoing fund management fees that depend on what you invest in.
Cost conscious users could buy the same investments on a different platform for less. For example, you could buy the same BlackRock-managed fund on a platform like AJ Bell and pay 0.25% to AJ Bell and 0.17% to BlackRock. So 0.42% all together. On a total investment of £10,000, this would save you £17 a year. However, what you're really buying with Monzo is the simplicity of the app, the integration with your bank account, and the fact that you're saving yourself the hassle of actively managing another account. They're all reasons to consider paying a little bit extra.
Plus, you can open an account starting from just £1.
Customer reviews
Your opinion matters!
Leave a review for Monzo
15 June 2026
Great for investment and you can round up your transactions to go straight to investment! (Great) also Monzo offers cashback at certain retailers I have submitted the idea to Monzo for the cashback you earn to go directly to the investment pot! Saving can be challenging right now for many of us in uk and this will help building a saving in the long term!
12 May 2026
Makes everything investing ....easy
30 April 2026
I’ve learned a lot about investing with easy to follow instructions and learning tools. I’m excited to see where this goes!!
Most asked questions
How do you open a Monzo account
We opened a test account with just £10 to get the ball rolling. From start to finish, it took us about 3 minutes to set up on a mobile.
1) Fill in your details
This step is really easy if you have a Monzo bank account already because it knows all those boring details. So the only new thing you'll need to tell them is your National Insurance number.
2) Answer some basic questions
Most people will like this, but some purists will wrinkle their noses that they only ask 2 questions on affordability and risk – do you have any debt and do you have some cash savings as a ‘buffer’ for emergencies?
3) Pick a product
Select which type of investment product you want to open - a Stocks & Shares ISA or a General Investment Account. We covered both of these earlier but the gist is that an ISA is tax-free whilst a GIA isn't! There's no pension option available.
4) Choose an investment style
Now you'll be asked to select one of the three different investment styles. Either 'Careful', 'Balanced' or 'Adventurous'. They show you what you might expect to make depending on what you pick. The default illustration is what to expect in 10 years’ time if you invest £100 a month. It’s helpful to see this number, but as always, remember it’s only a best guess – no-one has a crystal ball!
5) Read the legal stuff
This covers key information about the fund you're investing in. It's quite heavy going to read but is worth having a look to really see what you’re getting into before you start putting your money in.
6) Start investing
Finally, actually funding your account is easy. You sweep the money over from your Monzo account, noting whether you want to set up an automatic monthly investment as you go (this is a really good habit to get into if you afford it). Et voila! You're an investor.
Glossary
Not 100% sure you understand something we’ve written in this review?
Discover jargon-free definitions of the most common words and technical terms used in the world of investing.
