Written by Headway’s maker. This comparison uses published product information checked on . We have not claimed hands-on testing of Monzo.
What is the main difference between Headway and Monzo?
Headway is a manual budgeting app that can represent accounts you choose without holding the money. Monzo is a regulated bank account with budgeting and saving tools built around its banking service.
| Question | Headway | Monzo |
|---|---|---|
| Best fit | People who want to plan manually across the figures they choose, keep core records on their iPhone and avoid a required bank connection. | UK residents who want their current account transactions, notifications, Pots and budgeting features inside the same banking app. |
| Bank connection | Not required | Monzo automatically records activity in the Monzo account. Its free account can connect one external bank or card, while Extra advertises unlimited connected banks and cards. |
| Manual entry | Supported | Monzo’s budgeting is primarily based on bank transactions and categories rather than a standalone manual ledger for arbitrary accounts. |
| Platforms | iPhone and an optional temporary browser snapshot | Monzo provides iPhone and Android banking apps for eligible customers; account eligibility and product terms apply. |
| Price | See Headway’s current pricing page | Monzo offers a free UK current account. Its current fee information lists Extra at £3 a month, Perks at £9 and Max at £19; higher tiers include features beyond budgeting. |
| Trial | Not required to use the free version | Monzo does not advertise a general free trial for the complete paid account plans on its plan page. Check any feature-specific promotion and minimum term before upgrading. |
Who is Headway best for?
People who want to plan manually across the figures they choose, keep core records on their iPhone and avoid a required bank connection.
Who is Monzo best for?
UK residents who want their current account transactions, notifications, Pots and budgeting features inside the same banking app.
How do bank connections and manual entry compare?
Monzo automatically records activity in the Monzo account. Its free account can connect one external bank or card, while Extra advertises unlimited connected banks and cards. Monzo’s budgeting is primarily based on bank transactions and categories rather than a standalone manual ledger for arbitrary accounts.
How do pricing and trials compare?
Monzo offers a free UK current account. Its current fee information lists Extra at £3 a month, Perks at £9 and Max at £19; higher tiers include features beyond budgeting. Monzo does not advertise a general free trial for the complete paid account plans on its plan page. Check any feature-specific promotion and minimum term before upgrading.
How do privacy and data handling compare?
Monzo processes identity, account and transaction information as a bank and explains that processing in its customer privacy notice. Headway does not operate a bank account and keeps its core manual budgeting records on the iPhone.
What are the important limitations?
Using Monzo’s core workflow means opening or using a Monzo bank account. Some stronger budgeting features, including custom categories and broader connected-account support, sit in paid plans.
Sources and verification
Monzo Extra budgeting account, Monzo plan fee information, Monzo customer privacy information, Boring Money budgeting-app review. Pricing, features and availability can change; follow the linked provider pages before choosing.
Compare more budgeting apps, read what to check in a private budget app, or try the safe-to-spend calculator.
Check the workflow before choosing
Try one full pay cycle with a starting balance, upcoming bills and a goal. Record a purchase, then check whether you understand the changed spending estimate. Headway’s screenshot uses demonstration data and does not show another app’s interface.
Read the safe-to-spend method, check the privacy checklist and explore Headway’s iPhone workflow.
Comparisons are written by Headway’s maker from current product information, not independent reviews.