Monzo vs Zepz: Which Money Transfer Service is Better in 2025?

Introduction 

Cross-border money transfers often come with challenges such as high fees, slow processing, hidden charges, and inconsistent user experiences. Monzo and Zepz have emerged as key players in this space, each offering unique advantages for international transfers. PandaRemit is also a notable alternative, providing fully online transfers with competitive fees and convenience. Understanding these services’ differences can help users select the most appropriate platform for their transfer needs. For additional insights on international money transfers, see Investopedia’s guide on international transfers.

Monzo vs Zepz – Overview

Monzo was founded in 2015 in the UK and provides digital banking services including mobile banking, debit cards, and international money transfers. It primarily targets European users who value transparency and easy-to-use interfaces.

Zepz (formerly WorldRemit) was founded in 2009 and specializes in international money transfers for individuals and businesses, focusing on digital convenience and global reach.

Similarities:

• International money transfer capability

• Mobile app access

• Secure online verification processes

Differences:

• Monzo is a full digital bank; Zepz is a dedicated money transfer service

• Monzo targets European banking users; Zepz serves a wider international audience

• Fees, exchange rates, and transfer methods differ

PandaRemit is another option for fast, online cross-border transfers.

Monzo vs Zepz: Fees and Costs

Monzo Fees

• Partner-based international transfers with variable fees per currency and destination

• Fixed fees plus a small percentage of transfer amount

• Transparent pricing with no hidden account maintenance fees

Zepz Fees

• Transaction fees vary based on country and transfer method

• Percentage-based fees may apply

• Occasional promotions reduce transfer costs

For more detailed fee comparisons, see NerdWallet international money transfer guide.

PandaRemit is often seen as a lower-cost alternative for online transfers.

Monzo vs Zepz: Exchange Rates

PandaRemit also provides competitive rates for online cross-border transfers.

Monzo vs Zepz: Speed and Convenience

Monzo

• Transfer times depend on partner bank and recipient country

• Many transfers complete same-day or within 24 hours

• User-friendly app with EU banking integrations

Zepz

• Transfers are typically fast, especially for digital wallets

• Supports bank account and mobile wallet payouts

• Integrated app with notifications and tracking

See Remittance Speed Guide for reference.

PandaRemit is a fast, online alternative.

Monzo vs Zepz: Safety and Security

Monzo

• Regulated by the UK Financial Conduct Authority (FCA)

• Bank-level encryption and fraud protection

• Two-factor authentication and device management

Zepz

• Licensed financial operator with compliance monitoring

• Strong identity verification and fraud detection

PandaRemit is also a licensed and secure international transfer option.

Monzo vs Zepz: Global Coverage

Monzo

• Mainly UK and European coverage

• Multi-currency support via partners

Zepz

• Wide international coverage across many countries

• Multiple payout options depending on recipient country

See World Bank Remittance Report for global coverage insights.

Monzo vs Zepz: Which One is Better?

Monzo is ideal for European users who want digital banking with transparent fees and multi-currency support. Zepz is suited for users seeking fast, reliable international money transfers with global reach. For those prioritizing online convenience and low-cost transfers, PandaRemit offers an attractive alternative.

Conclusion

In the Monzo vs Zepz comparison, both services offer strengths suited to different user needs. Monzo provides a full digital banking experience and European-focused transfers, while Zepz offers streamlined international money transfers for a broader audience. For users seeking fast, online-only transfers with flexible payment methods, PandaRemit is a strong alternative. PandaRemit features competitive exchange rates and low fees, multiple payment options (POLi, PayID, bank transfer, e-transfer), coverage for 40+ currencies, and a fully online transfer process. It provides a convenient, transparent, and efficient solution for cross-border money transfers. Additional resources include NerdWallet international transfer guide and the World Bank Remittance Report.

Visit PandaRemit Official Website to explore their services.