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Krak Card vs Monzo: fees, cashback & rewards compared

See how Krak Card stacks up against the Monzo debit card on FX fees, cashback, and everyday spending
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Feature comparison

The table below gives you a side-by-side snapshot of the Krak Card and the Monzo debit card across the everyday features that matter most to UK cardholders. From cashback to travel spending, this comparison highlights where each card delivers the most value.
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Krak Card
Monzo logo
Monzo
Monthly fee
Free
Free
Cashback rewards
Yes, up to 2%1
Retailer-specific only with opt-in required
Salary match
Yes, up to 1%2
Number of supported assets
150+
40+
Apple Pay / Google Pay
ATM withdrawals
Free worldwide3
Free in EEA if main bank
£200/30 days outside EEA, then 3%
FX fees
Premium/Metal tier
Metal Card available
(avg £50,000 in combined assets)
Premium
(at £17.50/month)
Best for
Cashback seekers and low-fee global spenders
Budget-focused everyday banking
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Krak Card vs Monzo:
who is cheaper?

Fees can quietly eat into every pound you spend abroad. This table breaks down the cost structures of both cards in detail so you can see exactly where your money goes.
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Krak Card
Monzo logo
Monzo
Monthly fees
Free
Free — £0/month
Extra — £3/month
Perks — £7/month
Max — £17/month
FX fees
FX fees on card payments
Mastercard rate
0.2–1.5%4
Mastercard rate
0.2–1.5%
Exchange rate transparency
Available in app
Mastercard rate shown per transaction
Best for
Fee-free, multi-currency spending
Fee-free overseas spending with budgeting tools
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Cashback and rewards comparison

Cashback can turn everyday spending into a steady stream of rewards. The table below breaks down how the two cards compare when it comes to earning back a portion of what you spend.
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Krak Card
Monzo logo
Monzo
Cashback support
Retailer-specific
Cashback rate
Up to 2%
Varies by retailer
Cashback currency
GBP
GBP
Subscription required for cashback
Cashback payout destination
Krak account balance
Monzo Cashback Pot
Cashback payout timing
Instant at settlement
Within 3 – 4 days
Monthly spend example
Depends on active offers
Best for
Consistent, reliable rewards on every purchase
Occasional bonus savings at specific retailers

Reward example: A UK cardholder spending £2,000 per month earns up to £40 in cashback each month with the Krak Card. That is potentially £480 per year, paid out instantly with no activation steps and no spending categories to track. Monzo’s cashback depends on whichever retailer deals happen to be live that month.

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Monthly cashback simulator

At

Krak Card

Monzo

1 month

£40.00

£0.00

6 months

£240.00

£0.00

1 year

£480.00

£0.00

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At a glance

Find out which card is better suited to your specific needs using the table below.
The bottom line
The bottom line
Best for international spending
Krak Card. Zero FX fees on card payments and no Kraken ATM fees make it a strong choice for frequent travellers. Krak Concierge boosts travel cashback to 4% via the card and 6% via the app, with up to 60% discount on hotel bookings.4
Best for cashback
Krak Card. With up to 2% back on every eligible purchase and no subscription required, it delivers consistent, predictable rewards. Monzo’s cashback is limited to rotating retailer offers that need to be activated individually.
Best for salary match
Krak. You can receive up to 1% match when you deposit your salary in Krak.
Best for travel flexibility
Krak Card. Support for 400+ currencies and a customizable spend order give you more control over how your balances are used abroad. Monzo auto-converts from GBP at the Mastercard rate, which is simple but less flexible.
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Krak Card vs Monzo

Which card is better for UK customers?

Overall, the Krak Card wins on instant cashback, salary match, global spending flexibility and zero fees.
International spending
dot
Cashback
dot

Salary match

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Which card is better for UK customers?

Overall, the Krak Card wins on instant cashback, salary match, global spending flexibility and zero fees.
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International spending
dot
Cashback
dot
Salary match
Reserve your card

FAQs

It depends on your priorities. Krak Card offers up to 2% cashback on all eligible purchases with no subscription, which makes it the stronger earner on everyday spending. For pure spending rewards, Krak Card has the edge.

Yes. Krak Card is issued by Monavate, which is authorized by the Financial Conduct Authority to issue electronic money and provide payment services. It runs on the Mastercard network with fraud protection, instant card freeze and real-time transaction alerts.

Both cards charge 0% FX fees on card payments abroad and use the Mastercard exchange rate. The main difference is ATM access: Krak Card charges no withdrawal fees from its side, while Monzo charges 3% on non-EEA withdrawals above £200 per 30 days. If you withdraw cash frequently outside Europe, Krak Card is cheaper.

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Not investment advice. Crypto trading involves risk of loss. Krak Card is issued by UAB Monavate, authorised by the Bank of Lithuania to carry on electronic money activities and payment services (LB002139). The associated e-money wallet is provided by Payward Ireland Limited (Kraken), regulated by the Central Bank of Ireland. Spot trading services are offered by Payward Europe Solutions Limited (Kraken), regulated by the Central Bank of Ireland. This content is for general information only and is not investment advice or a recommendation to buy, sell, stake or hold any cryptoasset. Kraken does not work to influence the price of any cryptoasset. Cryptoasset markets are unpredictable and you may lose funds. Tax may be payable on returns or increases in value, seek independent tax advice.
1Rate depends on average assets held with Krak, Kraken and Kraken Pro. apply. See for more info.
2Eligible clients in the United Kingdom only. T&Cs apply. Min. cumulative transfer(s) of £2,500 (max 4 payments) from employer payroll; exclusions apply. Rewards credited monthly as determined by Krak; max £250/month. 1% promotional rate not guaranteed; applies until 01/05/26, then depends on average assets held with Kraken and Kraken Pro. Kraken may amend, suspend, or end the promotion. Tax may apply. The e-money wallet is not a bank account and is not covered by any deposit guarantee scheme. Reward value may fluctuate if held or converted into other assets.
3A variable spread applies when spending across assets. Third-party ATM fees may apply.
4Geo restrictions apply. Krak Concierge processes bookings via Entravel Holdings Ltd. (“EH”). Krak is not a travel agent and the merchant of record for bookings. Prices, taxes and fees are set by the provider. Cancellations/refunds follow the hotel and/or EH policy. Instant buy/sell fees apply and are shown when converting one asset or currency before making a transfer. See our fee schedule for details. Krak may receive a commission from EH on completed stays.