Monzo is a digital only UK bank. It is fully authorised in the UK by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Simply put, if Monzo goes belly up, your money is protected. If you are over 18 years old and have a Android or iPhone (as it’s app only), it’s worth signing up, it takes minutes. Especially whilst they are giving away £10 for new customers!