The Best Mobile Only Bank Accounts in the UK 2023

• Rating: 9.4 / 10
• Products: Current accounts
• Saving interest rates: 0.05%
• Cash withdrawal limit: £300
• FSCS protection: Yes

Starling Bank is one of the UK mobile challenger banks that specialises in current accounts.

The bank offers a wide range of accounts, including business and sole trader accounts, joint accounts, as well as bank accounts for teens and kids, some of which come with a monthly fee of £2 and £5.

Starling Bank only pays 0.5% interest on balances of up to £85.000 but has an array of spending and budgeting tools that help users keep track of their spending and a Goals feature where you can keep your savings separate from your main balance.

Furthermore, the app has a bill splitting tool, a round-up savings feature, and a pay nearly option that allows customers to send money to nearby users without needing their bank details. 

Starling Bank also allows for overseas spending. It doesn’t charge overseas ATM fees, but it applies a flat rate of 0.4% fee for currency conversions on international transfers.

• Rating: 9.9 / 10
• Products: Spending, investing, insurance
• Saving interest rates: up to 1.2%
• Cash withdrawal limit: $3,000 daily
• FSCS protection: No

Revolut is the biggest online banking platform in the UK, counting over 10 million customers.

Revolut is an online banking platform that offers free international money transfers, hassle-free global spending, and access to cryptocurrency exchanges. 

Although customers can use the app for instant transfer or request payments, as well as buy, hold and sell crypto, they can’t spend crypto directly (like you would if you had a crypto-based debit card from Coinbase).

They can also earn no more than 0.07% in APR, which is only 0.01% above the national average, and there are some monthly and foreign currency fees that come with an account from this bank (depending on the plan you pick).

What makes the Revolut app the best mobile banking app is that it doesn’t have a minimum deposit limit and doesn’t charge any ATM fees. Customers also get both a virtual and a physical card that customers can top up from other bank accounts in their name.

• Rating: 9 / 10
• Products: Instant and joint accounts
• Saving interest rates: 0.05%
• Cash withdrawal limit: £300
• FSCS protection: Yes

Monese is a great app only banks for those that live in the UK and/or Europe that need quick access to cash and cheap money transfers overseas.

The bank works with GPB, EUR, and RON and allows free ATM withdrawals abroad and fee-free card payments, though there might be a limit on these, depending on your plan.

One of its biggest benefits is the application process– Monese doesn’t require proof of residency, a UK credit history, or utility bills when opening an account. What’s more, you can open an account anywhere in Europe.

The Monese account comes with a debit card for contactless payments, an option to manage your Direct Debits, and the ability to add a Eurozone account.

You can use it to exchange, request, and accept money in the United Kingdom – free of charge, regardless of the currency.

• Rating: 9.7 / 10
• Products: Savings, mortgage, business loans
• Saving interest rates: Up to 2.90% (fixed)
• Cash withdrawal limit: No limit
• FSCS protection: Yes

Unlike most ‘challenger banks’ of this calibre that offer current accounts (like Monzo), Atom Bank focuses on providing mortgages, savings accounts, and business loans. 

The instant savings account lets you earn interest on the money you have on your balance and access the funds at a time. The fixed-term savings account locks your money between six months and five years but earns higher interest.

Atom is one of the best mobile banks because it offers a variety of mortgage products – an option that very few mobile banks provide. It further helps applicants decide whether it’s a good idea to take out a mortgage and what’s the best deal on the market for them. 

The app has a user-friendly interface and lets you keep track of much money you’ve saved, how much you will earn through interest, and your repayments if you’ve taken out a loan. It also features a blog that’s regularly updated, as well as educational videos.

• Rating: 9.6 / 10
• Products: Current account, savings, loans
• Saving interest rates: Up to 2.10%
• Cash withdrawal limit: £400 daily
• FSCS protection: Yes

Monzo is one of the best budgeting apps in the country and the perfect pick for customers that want to know exactly how they spend their money.

The app sends instant notifications after transactions and allows for person-to-person payments. Users can also set budgets for different categories, like groceries, get warnings if they spend their budget too fast, and even pay Direct Debits through their account. 

One of its best features is you can use Monzo abroad. The bank doesn’t charge any extra fees for spending outside the UK and doesn’t mark up the exchange rate. However, if you use Monzo more like a spending card rather than a bank account, you will be charged 3% monthly on withdrawals over £250 monthly.

When it comes to savings, Monzo keeps them separate from your main balance and has a round-up feature that automatically puts money aside when you spend. 

The bank also offers loans and overdrafts of up to £2,000 and £25,000, respectively.