Monzo Virtual Card Alternative:
Is it time to trade in your Monzo card for an alternative? Whether you’re unhappy with the monthly fees or want features the card doesn’t offer, there are plenty of other virtual card alternatives available. Virtual cards are a safe and secure way to spend money online, in person, and internationally.
With unparalleled security and convenient options, choosing a virtual card gives you access to seamless money management. If you’re considering changing from Monzo, we have some fantastic alternatives.
From virtual cards designed for corporate spending to prepaid cards that don’t require a bank account, these solutions can unlock cost savings and secure online payments and security.
Monzo virtual cards
Monzo is an online banking provider that offers traditional bank accounts, savings accounts and virtual cards. The virtual cards function similarly to your physical debit card, but they’re solely online, making spending easy without worrying about risking your physical card.
Account holders can manage their money online, using features that set spending limits and send alerts after transactions.
Why are Monzo cards popular?
Many people choose Monzo because they already have a current or savings account with the bank. It’s convenient to use a virtual card on the move and take advantage of higher security levels during transactions.
The budgeting tools are bonuses if you want to track your spending habits and isolate where you could save more. While Monzo Bank is popular, it has drawbacks and lacks the features of other virtual cards.
Monzo virtual card cons:
- Limited Functionality: While Monzo virtual cards offer basic functionality, some competitors support multiple currencies and offer lower fees for international transactions.
- App Reliance: As with most online banks, you can only create virtual cards through the Monzo App. If you’re in a place with limited connectivity or lose your phone, you won’t be able to make transactions.
- Pricing: Monzo does offer a free account, but the features are limited. You’ll need to upgrade to unlock disposable virtual cards and advanced spending tracking.
Five Monzo virtual card alternatives
We’ve searched far and wide to bring you five excellent Monzo alternatives. Each virtual card offers distinct advantages, whether you’re interested in subscription management, international spending or corporate money management.
1: Curve virtual card
Curve is a financial platform that combines existing credit and debit cards into one convenient account. Instead of topping up the card, you use Curve as an intermediary for your other accounts, choosing which to use when making transactions.
Instead of carrying multiple cards, you can use your virtual account to make payments on the go, making it easy to travel. Curve also offers a unique go back in time feature, which lets you switch a transaction onto a different card.
Pros:
- Convenience: Add multiple bank accounts to the app and manage your money without a range of cards. Some Curve accounts also come with a cashback option, making them ideal to earn rewards.
- Flexibility: Account holders can choose various card options, including a free account. Opting for Curve Metal accounts provides free foreign transaction fees and airport lounge access.
- Free Features: The Go Back In Time feature is free for account holders. If you accidentally charge the wrong card, you can reverse the transaction and divert it to another card.
- Security: Curve uses secure encryption to protect your personal information. The measures in place reduce fraud risks, safeguarding your bank accounts.
Cons:
- Limited Free Features: The free features can be limited unless you opt for a monthly account. For example, the Go Back In Time feature is only available for recent transactions. Curve will also charge foreign transaction fees on free accounts.
- Reliance on Banks: Unlike virtual cards, you can only have a Curve account with a credit or debit card. The company won’t be able to resolve issues with your bank cards either.
Who are Curve virtual cards best for?
If you have multiple bank accounts and want to manage them in one convenient place, Curve offers convenience. The main drawback is that you can’t access many features unless you’re willing to pay the monthly fees.
2: Airwallex
Airwallex is a specialist tool for corporate spending, allowing businesses to issue debit cards for entertainment, general expenses, and travel. Virtual cards are similar to debit cards, with one key difference: each is funded by the company’s money.
With a range of premium features, including unlimited monthly virtual cards and international money transfers, Airwallex can replace Monzo for all your business needs.
Pros:
- Cost-Effective: Businesses often have to factor in expenses, but Airwallex offers unlimited virtual cards and free foreign transactions. Large companies can save a lot of money by incorporating the cards.
- Flexibility: Airwallex cards are compatible with multiple currencies, simplifying international spending and facilitating seamless expense tracking.
- No Limits: Companies can take advantage of unlimited cards, enabling them to cater for employees as the company’s needs grow and scale.
- Security: The platform offers a selection of security features, including instant card freezes, authenticated purchases and data protection measures. The FCA also regulates it.
Cons:
- It’s Not a Bank: Airwallex is a virtual card platform and not a bank. Some businesses might prefer working with established banking partners for additional security.
- Business Accounts Only: Airwallex offers many benefits but only for business use. If you prefer flexibility, other virtual cards provide corporate and personal spending.
Who are Airwallex virtual cards best for?
Airwallex is ideal for businesses that want to give employees more flexibility while monitoring spending habits. Free international payments are the main selling point, but some companies might prefer working with established banks.
3: Getsby virtual cards
Getsby has two virtual cards, each with unique features. The platform offers convenience for prepaid spending without the need to register for a bank account.
The Virtual Black Card is a single-load solution designed for users to spend the balance and then dispose of the virtual account, while Getsby Virtual Green Cards function similarly to debit cards and last for three years.
Pros:
- Security Focused: Getsby Virtual Cards are designed with security in mind . They don’t link to a bank account and implement advanced measures. Users can take advantage of encryption, tokenisation and Mastercard 3D Secure 2.0.
- Flexibility: Use your card to manage subscriptions , invest online , make international transactions and enjoy seamless spending. Account holders can also look forward to competitive exchange rates and use their smartphones to make contactless payments.
- Ease of Use: You don’t need to worry about credit checks with Getsby, as prepaid cards are suitable for everyone. As long as you’re over 18, you can access virtual cards on the platform. Black Card holders can access 25 disposable cards monthly or five daily.
- Limited Spending Risk: Prepaid nature restricts spending to the loaded amount, reducing overspending risks. It’s easier to manage money and budget effectively.
Cons:
- No Banking Services: Getsby is a platform for ordering and using virtual cards. It’s not an online bank and lacks some services. While there are no budgeting tools, the app facilitates money management, as you can’t overspend.
- Some Fees: There are some foreign transaction fees, but these are capped at 2%, which is lower than many banks.
Who are Getsby virtual cards best for?
If your main priorities are accessibility and money management, Getsby Virtual Cards won’t let you down. Whether you’re connecting them to Apple Pay or Google Pay or going abroad, the application process takes minutes and doesn’t require a linked bank account.
4: N26 virtual cards
N26 is a European digital bank providing virtual and regular debit cards. These cards are digital representations of your account, existing online but connecting to your bank account. All N26 cards connect with Google Pay and Apple Pay, enabling users to make payments on the move.
Businesses and individuals can take advantage of N26’s innovative digital financial services, choosing from a variety of accounts – each with monthly fees.
Pros:
- Convenience: Activate your virtual card immediately with the N26 app, which you can use for contactless payments, subscriptions, and e-commerce.
- Security: Using traditional bank cards comes with some risks, but a virtual card offers more protection as you don’t need to worry about carrying it around. Add it to your digital wallets and make secure transactions.
- Spending Tracking: Use your N26 mobile banking app to track your spending habits and identify unauthorised purchases.
- Multiple Card Options: Users can choose between four accounts, with an additional option for businesses. The free tier offers a virtual card, three free ATM withdrawals in Euros and unlimited deposits.
Cons:
- Limitations: To access an N26 virtual card, you’ll need a bank account with the service. Opting for the free plan means you won’t need to pay – but don’t get all the features.
- Geographic Restrictions: As a European financial service, N26 is available in most countries, but there might be some restrictions.
Who are N26 virtual cards best for?
If you already have an N26 account, ordering a virtual card is simple. In contrast, if you’d prefer not to open an account, other providers are more accessible.
Wise
Wise, formerly known as Transferwise, was once a go-to platform for people who needed to transfer money. In recent years, it has evolved into a virtual card provider focusing on international money transfers, spending, and budget management.
The virtual cards connect to Wise multi-currency accounts, accommodating over 40 currencies. If your main priority is to spend internationally without hidden fees, Wise virtual cards are convenient and accessible.
Pros:
- Cost-Effective: Whether you’re making international payments or want to send money, Wise virtual cards have low fees and exchange rates. It’s one of the only cards that allow fee-free spending abroad.
- Convenience: Manage multiple currencies and enjoy stress-free spending from your Wise account. The mobile app accommodates over 40 currencies, making it easy to monitor your international transactions.
- Security: Virtual cards offer extra transaction protection, including Mastercard 3D Secure, encryption technology and tokenization.
- Accessibility: Use your virtual card for online payments worldwide in most currencies.
Cons:
- Customer Support: Opting for the free plan limits your access to customer support. If you prefer digital banks with proactive customer service teams, you might be better with a different provider.
- Limitations: While Wise cards support over 40 currencies, you might struggle to use them in less popular countries outside of Europe.
Who are Wise virtual cards best for?
Wise cards are best for making foreign exchange transactions and spending money internationally. While they offer domestic usage benefits, you can probably access more features from another provider.
The bottom line
Virtual cards will continue to shape spending habits and facilitate secure payments. If you’re ready to ditch the Monzo card and find an alternative, consider which virtual card provider best suits your needs.
Here are some key points to remember:
- Curve: The mobile banking solution that lets you manage your bank accounts in one convenient place.
- Airwallex: Best for businesses looking for expense control, international spending and unlimited cards for employees.
- Getsby: Great for accessibility and managing prepaid spending without a bank account, with security features and disposable cards.
- N26: Convenient for existing N26 account holders who want secure online payments, mobile wallet integration, and spending tracking.
- Wise: Excellent for frequent international spenders with competitive exchange rates, multi-currency support, and global accessibility.
Order your Virtual Cards online
Apply for a digital prepaid card online and receive the activation code via email within 2 minutes.
