For freelancers in Europe, choosing the right bank account is almost as important as choosing the right clients. Your bank handles your income, expenses, taxes, and international payments — all while keeping fees low and features high. In 2026, three digital banks dominate the conversation: N26, Monzo, and Revolut. But which one is actually the best for freelancers?
This comprehensive guide compares N26, Monzo, and Revolut head‑to‑head on everything that matters to freelancers: monthly fees, business account features, international transfer costs, invoicing tools, expense management, and real‑world usability. We’ll also help you decide based on your freelance income, location, and banking habits.
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📋 Table of Contents
- 1. Quick Summary: Which Bank Wins?
- 2. N26 Deep Dive: Features, Fees & Freelancer Fit
- 3. Monzo Deep Dive: Features, Fees & Freelancer Fit
- 4. Revolut Deep Dive: Features, Fees & Freelancer Fit
- 5. Side-by-Side Comparison Table
- 6. International Transfers & Currency Exchange
- 7. Freelancer‑Specific Tools: Invoicing, Tax & Accounting
- 8. Security, Regulation & Deposit Protection
- 9. Which Bank Should You Choose? (Decision Flowchart)
- 10. Frequently Asked Questions
Quick Summary: Which Bank Wins for Freelancers in 2026?
🏆 The Verdict
- Best for Solopreneurs & Low‑Volume Freelancers: Monzo — its free business account, excellent app experience, and straightforward UK focus make it ideal for freelancers who mostly deal in GBP.
- Best for International Freelancers: Revolut — unbeatable currency exchange, multi‑currency accounts, and low‑cost international transfers are perfect for freelancers with global clients.
- Best for Euro‑Zone Freelancers & Scalability: N26 — solid Euro accounts, reasonable business features, and a clean interface make it a strong all‑rounder, especially if you invoice in EUR.
N26: The German Challenger
N26 started in Germany and has become one of Europe's most popular digital banks. It offers both personal and business accounts (N26 Business) with a focus on simplicity and international usability.
Key Features for Freelancers
✅ Pros
- Strong in the Eurozone; multi‑currency accounts useful
- Clean, intuitive app
- Business account integrates with tax tools (like SumUp)
- Up to 8 sub‑accounts (spaces) for budgeting
❌ Cons
- Free business account is very basic (N26 Business You paid required for invoicing)
- No joint business accounts
- Customer support can be slow (mostly in‑app chat)
- Limited in the UK after Brexit (no new UK customers)
Bottom line: N26 is a reliable choice if you primarily work in Euros and need a simple, low‑cost business account. The paid plans unlock useful invoicing and expense tools, but it lacks the extensive multi‑currency features of Revolut.
Monzo: The UK’s Favourite
Monzo exploded in the UK with its bright coral cards and community‑focused app. Its business accounts (Monzo Business) are designed for sole traders and small businesses, with powerful integration and an award‑winning app.
Key Features for Freelancers
✅ Pros
- Free business tier with no monthly fee – great for starting freelancers
- Tax Pots are a game‑changer for UK freelancers
- Excellent app with real‑time notifications
- Seamless integration with UK accounting software
❌ Cons
- Only available in the UK (and very limited to UK residents)
- No multi‑currency accounts (GBP only)
- Paid plans are required for invoicing and advanced features
- International transfer fees are higher than Revolut’s
Bottom line: If you're a UK‑based freelancer, Monzo Business is hard to beat. The free tier is genuinely useful, and the paid plans are affordable. The Tax Pot alone can save you from painful end‑of‑year tax bills.
Revolut: The Global Super‑App
Revolut started as a travel card and evolved into a full financial super‑app. It offers business accounts (Revolut Business) with an extensive feature set, especially for those dealing with multiple currencies.
Key Features for Freelancers
✅ Pros
- Exceptional multi‑currency support – perfect for freelancers with global clients
- Competitive exchange rates and low‑cost international transfers
- Scalable plans: from free to enterprise
- Vast range of extra features (crypto, stocks, donations, etc.)
❌ Cons
- Customer support is notoriously slow (chat‑only, long queues)
- Free plan has limits (€1,000/month free exchange, then 0.5% fee)
- Can feel overwhelming with too many features
- No physical branches (pure digital)
Bottom line: For freelancers who invoice in multiple currencies or travel frequently, Revolut is the clear winner. The multi‑currency accounts and low‑cost exchange save significant money. Just be prepared for occasional support delays.
Side‑by‑Side Comparison: N26 vs Monzo vs Revolut
| Feature | N26 Business | Monzo Business | Revolut Business |
|---|---|---|---|
| Free monthly plan | Yes (very basic) | Yes (with useful features) | Yes (with limits) |
| Paid plans start at | €9.90/mo | £5/mo | £25/mo (or € equivalent) |
| Multi‑currency accounts | EUR, GBP, USD, CHF (premium) | GBP only | 30+ currencies |
| Local IBANs | EUR (DE), GBP (LT?) – varies | GBP (UK) | EUR (LT), GBP (UK), USD (US) |
| Free international ATM withdrawals | Up to 5/month (zone dependent) | £200/month then 3% fee | Up to £200/month then 2% fee |
| Invoicing included | Paid plans only | Paid plans only | Paid plans only |
| Expense management | Yes (receipt capture) | Yes (receipts & categories) | Yes (receipt matching) |
| Accounting integration | SumUp, others | Xero, QuickBooks, FreeAgent | Xero, QuickBooks, FreeAgent |
| Tax pots / saving tools | Spaces (saving goals) | Tax Pots (set aside for HMRC) | Vaults (saving goals) |
| Customer support | In‑app chat, slow on free | In‑app chat, quick responses | In‑app chat, often slow |
| Best for | Euro‑zone freelancers | UK freelancers | International freelancers |
International Transfers & Currency Exchange
If you invoice clients abroad or get paid in foreign currencies, international transfer costs can eat into your profits. Here’s how the three banks compare on cross‑border payments:
🌍 Exchange Rate & Fee Breakdown
- N26: Free plan: 1.5% markup on weekends, 1% markup on weekdays (after first €50/month). Paid plans: lower markups.
- Monzo: No fee for spending abroad, but cash withdrawals over £200/month incur 3% fee. Exchange rate is Mastercard’s rate with no markup, but you cannot hold foreign currencies.
- Revolut: Interbank exchange rate on weekdays (up to €1,000/month free on standard plan). Weekend markup of 1%. Paid plans have higher limits and lower weekend fees.
For freelancers who frequently send or receive international payments, Revolut’s multi‑currency wallets and ability to hold 30+ currencies at interbank rates is a massive advantage. You can receive USD from a US client, keep it in USD, and only convert when the rate is favourable — or spend directly in USD with the Revolut card.
Freelancer‑Specific Tools: Invoicing, Tax & Accounting
All three banks offer invoicing features on their paid plans. Here’s what each provides:
- N26 Business (You or Metal): Create and send invoices directly from the app, track payments, and export data. Limited template customisation.
- Monzo Business (Paid): Invoicing with professional templates, automatic payment reminders, and integration with accounting tools. The standout feature is the Tax Pot, which automatically sets aside a percentage of every income payment for your tax bill.
- Revolut Business (Paid): Invoicing, recurring invoices, and the ability to accept card payments via payment links. Integrates with Xero and QuickBooks for automatic reconciliation.
If tax management is your priority, Monzo’s Tax Pot is a unique feature that genuinely helps UK freelancers avoid nasty surprises at year‑end. For others, the choice may depend on which accounting software you already use.
Security, Regulation & Deposit Protection
All three are fully regulated financial institutions in their home countries:
- N26: German bank with a full banking licence, covered by German deposit protection scheme (up to €100,000).
- Monzo: UK bank with FCA regulation, covered by FSCS (up to £85,000).
- Revolut: Holds a European banking licence (Lithuania) for EU customers; UK customers are with Revolut Ltd (e‑money institution, funds safeguarded but not FSCS covered).
For EU‑based freelancers, N26 offers the reassurance of a full banking licence with deposit protection. Revolut’s safeguarding arrangement is generally safe, but it’s not the same as a government‑backed guarantee.
Which Bank Should You Choose? (Decision Framework)
To help you decide, answer these three questions:
- Where are you based? If you're in the UK, Monzo is a natural first choice. If you're in the Eurozone, N26 or Revolut both work.
- Do you deal with multiple currencies? If yes → Revolut. If you mostly invoice in your local currency → Monzo or N26.
- Do you need advanced business features? All three have paid plans, but Monzo’s Tax Pot is unique for UK freelancers. Revolut’s multi‑currency accounts and higher‑tier plans offer more scalability.
💡 Pro Tip
You don’t have to stick to one! Many freelancers use Monzo for day‑to‑day GBP transactions and Revolut for receiving USD or EUR payments. Both are free to try, and you can transfer between them instantly.
Frequently Asked Questions
Technically yes, but it’s not recommended. Mixing personal and business finances makes tax filing messy, and you might miss out on business‑specific features like invoicing and expense tracking. All three banks explicitly allow business use only on their business accounts – using a personal account for business may violate terms.
Monzo generally has the best reviews for customer support – fast, friendly in‑app chat. N26 and Revolut both have slower support, especially on free plans. Paid plans on Revolut (e.g., Pro or Ultra) give you priority support.
Yes, but eligibility varies. Monzo offers overdrafts (subject to status) on business accounts. N26 provides overdrafts on some paid plans in certain countries. Revolut offers business loans and credit in some regions (EU/UK). Overdrafts and loans are always based on your credit profile and history.
All three are transparent, but watch for: cash deposit fees (Monzo charges 0.5–3% for cash deposits over £100/month, N26 may charge for counter withdrawals, Revolut has fees for certain transactions). Always read the fee schedule for your specific country and plan.
Yes, all three allow you to hold separate personal and business accounts. You can switch between them in the same app (Monzo, Revolut) or separate apps (N26).
Final Verdict: N26, Monzo or Revolut?
There is no single “best” bank – the right choice depends on your freelance lifestyle. For most UK freelancers, Monzo offers the simplest, most helpful experience with its free tier and unique Tax Pot. If you work across borders, Revolut is unmatched for its multi‑currency accounts and low‑cost exchange. Euro‑zone freelancers will find N26 a reliable, no‑frills business account.
The good news: all three are miles ahead of traditional banks in terms of app experience, transparency, and freelancer‑focused features. You can open an account in minutes and start managing your freelance finances like a pro.