PayPal vs Monzo - Who is better? [UPDATED 2024]

When it comes to sending money across borders, we tested options like PayPal and Monzo have emerged as leading choices. Both PayPal and Monzo online platforms offer efficient and cost-effective and secure international money transfers from PayPal and Monzo.

We compare PayPal vs Monzo into the unique features and benefits that distinguish PayPal vs Monzo, empowering you to make an informed decision based on your specific transfer needs like PayPal vs Monzo fees, currencies available, available payment methods on PayPal compared to Monzo, support options offered by PayPal vs Monzo, speed and more.

PayPal vs Monzo: Quick Feature Comparison

  1. Visit PayPal alternative PayPal Visit PayPal

    Used By: 295000000
    Currencies Available: 25
    Transfer Fees: 2.9%+0.30 EUR
    Payment Methods: Bank transfer, P2P mobile payment
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: None
    Max Transfer: US$60,000.00 (varies)
    Year Founded: 1998

  2. Visit PayPal alternative Monzo Visit Monzo

    Used By: 5,000,000
    Currencies Available: 1
    Transfer Fees: none
    Payment Methods: bank transfer, phone contact
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 10000 GBP
    Year Founded: 2015

PayPal vs Monzo: Pros and Cons

PayPal vs Monzo
Advantages

PayPal Advantages Monzo Advantages
  • PayPal has been serving clients for over 26 years
  • PayPal is available internationally.
  • PayPal has multiple currency options.
  • PayPal provides phone customer support.
  • PayPal provides email customer support.
  • PayPal is available to iOS Apple device users.
  • PayPal is available to Android mobile device users.
  • Monzo provides phone support.
  • Monzo offers registered customers email support.
  • Monzo has a Apple iOS app on Apple app store.
  • Monzo offers a Android Google Play Store mobile app.

PayPal vs Monzo
Disadvantages

PayPal Disadvantages Monzo Disadvantages
  • PayPal has no PayPal support.
  • PayPal has no Neteller payments support.
  • PayPal has no Skrill payment support.
  • PayPal does have a mobile digital wallet like some others.
  • No home delivery with PayPal.
  • No cash pickups with PayPal.
  • No money order support with PayPal.
  • No live chat support with PayPal.
  • Monzo has no PayPal option.
  • Monzo has no Neteller option.
  • Monzo has no Skrill option.
  • Monzo is not available is as many regions as some other providers.
  • Monzo has few fiat currency then some others.
  • No digital wallets with Monzo.
  • No Monzo home delivery.
  • No Monzo Cash pickups.
  • No Monzo money order option.
  • No Monzo Livechat.

PayPal vs Monzo Fees and Other Costs

Fee type PayPal Fees Monzo Fees
Transfer Fees 2.9%+0.30 EUR none
Min Transfer None none
Max Transfer US$60,000.00 (varies) 10000 GBP
Payment Methods Bank transfer, P2P mobile payment bank transfer, phone contact
Currencies AUD, BRL, CAD, CNY, CZK, DKK, EUR, HKD, HUF, ILS, JPY, MYR, MXN, TWD, NZD, NOK, PHP, PLN, GBP, RUB, SGD, SEK, CHF, THB, USD GBP

PayPal vs Monzo Restricted Countries

PayPal Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

Monzo Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

PayPal vs Monzo Transfer Speeds

Transfer Speed PayPal Monzo
Account Opening 1-3 days 1-3 days
Money Transfer Speed 1-10 days 1-10 days

PayPal vs Monzo Languages

PayPal Supported Languages

All major languages

Monzo Supported Languages

PayPal vs Monzo Verdict - Which is better?

Which is best out of PayPal and Monzo depends on your needs.

  • PayPal vs Monzo Transfer Fees: Transferring money with PayPal costs 2.9%+0.30 EUR while Monzo charges none.
  • PayPal vs Monzo Supported Currencies: PayPal deals in over 1, where as Monzo offers transactions in 1.
  • PayPal vs Monzo Payment Methods: PayPal accepts Bank transfer, P2P mobile payment, while Monzo allows transactions via bank transfer, phone contact.
  • PayPal vs Monzo Transfer Limits: PayPal allows transfers between None and US$60,000.00 (varies). Monzo's range is none to 10000 GBP.
  • PayPal vs Monzo Minimum Age for Account Creation: PayPal requires users to be at least 18 years old, where as Monzo has a minimum age requirement of 18.
  • Contact Number: You can reach PayPal at 1800 419 9833 and Monzo at 00 44 20 3872 0620.
  • PayPal vs Monzo Countries of Operation: PayPal operates in over 1 countries but has restrictions in over 1 countries. Monzo serves 1 countries and restricts operations in 1 countries.
  • PayPal vs Monzo Client Base: PayPal is used by 295,000,000, where as Monzo serves 5.
  • PayPal vs Monzo Year Founded: PayPal was established in 1998 and Monzo began its operations in 2015.
  • PayPal vs Monzo Customer Rating: PayPal holds a rating of 3, in contrast, Monzo has a rating of 3.
  • PayPal vs Monzo Headquarters: PayPal has its headquarters at San Francisco (US), while Monzo is based at London, UK.
  • PayPal vs Monzo Employee Count: PayPal employs 320 individuals, where as Monzo has a team of 1,551.
  • PayPal vs Monzo Estimated Annual Turnover: PayPal turnover stands at 25 Billion USD, while Monzo boasts a turnover of 80000000.
  • PayPal vs Monzo Founder: PayPal was founded by Sameera Rao, holding the position of VP and Head of Technology. On the other hand, Monzo was the brainchild of Carol Kobuke Nelson, currently holding the position of CEO.
  • PayPal vs Monzo Supported Languages: PayPal offers support in over 1 languages. Monzo communicates in 1.

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PayPal vs Monzo Alternatives Guides

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Screenshots

PayPal Screenshot

PayPal Screenshot

Monzo Screenshot

PayPal Screenshot