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PayZip VS Monzo

Compare PayZip VS Monzo and see what are their differences

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PayZip logo PayZip

Take control of your club payments

Monzo logo Monzo

The bank of the future
  • PayZip Landing page
    Landing page //
    2021-04-01

We know that when running a club there’s always something else to be done. You’ve got to get this month’s subs out (and some players haven’t paid last month’s yet, but who?). They forgot to pay, you forgot to remind them - it happens, but maybe a bit too often.

How well is the club doing financially anyway? You’re spending way too much of your own time doing the admin, working out exactly who owes what, and what's been collected. Updating the numbers is such a hassle that you put it off, which then makes it an even bigger job. ‍

It’s all a bit of a mess.

We hear you. Collecting money needn’t be time-consuming or difficult. Imagine if you could:

✔ Collect every single payment

✔ Know exactly where the club is financially

✔ Spend a lot less time on admin

✔ Get paid within minutes, not weeks

✔ Receive and process payments automatically

✔ Spot late payments and instantly chase them up

✔ Record all of your payments in one place

Payzip helps you do all of this, and more. Built specifically for club treasurers and secretaries, Payzip is a member payment system that helps you get your head out of the books and back into the game.

  • Monzo Landing page
    Landing page //
    2023-09-11

PayZip

Website
payzip.co.uk
Pricing URL
Official PayZip Pricing
$ Details
freemium
Platforms
Browser Web Google Chrome Firefox Safari Internet Explorer Opera
Release Date
2013 March
Edit details

Monzo

Website
monzo.com
Pricing URL
-
$ Details
-
Platforms
-
Release Date
-
Edit details

PayZip features and specs

  • Easy to Set-up and use
  • Card payments
  • Simplified accounting
  • Free unpaid invoice email reminders
  • Pay as you go
  • No subscription required
  • No setup fee
  • Payment reminders
  • Apple Pay
  • Google Pay

Monzo features and specs

  • Ease of Use
    Monzo offers a user-friendly interface with intuitive navigation, making banking simple even for those who aren't tech-savvy.
  • No Fees for Spending Abroad
    Monzo does not charge foreign transaction fees when you spend money abroad, which can save frequent travelers a significant amount.
  • Instant Notifications
    Users receive instant notifications whenever money is spent or received, allowing for real-time tracking of finances.
  • Budgeting Tools
    Monzo provides built-in budgeting tools that help users track their spending and set financial goals.
  • No Overdraft Fees
    Monzo does not charge overdraft fees, providing a safety net for users who occasionally spend more than they have in their account.

Possible disadvantages of Monzo

  • Limited Branch Access
    As a digital-only bank, Monzo does not have physical branches, which may be inconvenient for users who prefer in-person banking.
  • Cash Deposit Limitations
    Depositing cash into a Monzo account can be cumbersome, as it requires going through third-party services with associated fees and limitations.
  • Limited Range of Services
    Monzo may not offer the full range of financial services (like mortgages and extensive investment options) that traditional banks provide.
  • Lower Interest Rates
    Monzo's savings accounts may offer lower interest rates compared to some traditional banks and other online savings accounts.
  • International Customer Service
    Monzo's customer support can sometimes be less accessible compared to traditional banks, especially for users outside the UK and US.

Analysis of Monzo

Overall verdict

  • Overall, Monzo is considered a good option for individuals looking for a modern, convenient banking experience with lots of features for managing everyday finances. However, whether it is the 'best' choice can depend on individual needs and preferences.

Why this product is good

  • Monzo is often praised for its user-friendly mobile app, which offers real-time notifications on spending, budgeting tools, and a clear interface for managing finances. Its customer service is generally well-regarded, and many users appreciate the transparency and lack of hidden fees associated with its accounts. Additionally, Monzo is known for its ease of setting up and managing accounts all from your smartphone.

Recommended for

    Monzo is highly recommended for tech-savvy individuals who prefer to manage their banking activities via smartphone, those who travel frequently and need easy ways to handle foreign transactions, and anyone who values having intuitive budgeting tools at their fingertips.

PayZip videos

No PayZip videos yet. You could help us improve this page by suggesting one.

Add video

Monzo videos

+ Add

Monzo Review Update 2019 - One Year Later!

More videos:

  • Review - Monzo Review 2020 - All The Quirks And Features
  • Review - WHAT IS MONZO? - Monzo Bank Review 2020 | What I Love And Want To See Improve.

Category Popularity

0-100% (relative to PayZip and Monzo)

PayZip

Monzo

Online Payments
19 19%
Online Payments
81% 81
Payment Platform
24 24%
Payment Platform
76% 76
Finance
15 15%
Finance
85% 85
Fintech
11 11%
Fintech
89% 89

Questions and Answers

As answered by people managing PayZip and Monzo.

What makes your product unique?

PayZip's answer

Payzip is aimed squarely at the club treasurer, with a focus on managing and collecting payments.

Why should a person choose your product over its competitors?

PayZip's answer

Payzip is purely pay-as-you-go - there's no subscription, no app for your members (or their parents!) to install - they just can pay straight from the email invoice. With automated payment reminders and consolidated weekly payments, Payzip saves treasurers hours of time each week.

How would you describe your primary audience?

PayZip's answer

Treasurers and secretaries of sports clubs, leagues, and governing bodies.

Who are some of the biggest customers of your product?

PayZip's answer

  • Hockey Wales
  • South Wales Football Association
  • Squash Wales
  • Cowbridge Town AFC
  • Walton AC

User comments

Share your experience with using PayZip and Monzo. For example, how are they different and which one is better?
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Social recommendations and mentions

Based on our record, Monzo seems to be more popular. It has been mentiond 17 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

PayZip mentions (0)

We have not tracked any mentions of PayZip yet. Tracking of PayZip recommendations started around Mar 2021.

Monzo mentions (17)

  • Wise Account for UK Student in the US
    Not entirely relevant to your question but monzo have US accounts, https://monzo.com/us/. Source: about 2 years ago
  • Sun's out, and so are our new features ☀️
    In case you missed it, our Monzo US website also got a makeover! We still have big plans to make it easier to find resources you need to make managing your money easy. Be sure to watch this space. 👀. Source: over 2 years ago
  • How do I cancel and close my account?
    If you can't log in the help email is at the bottom of the US homepage https://monzo.com/us/. Source: over 2 years ago
  • I can’t find a thread on One alternatives- is there one and if so can it be pinned 📌?
    I did some digging and found out that the most popular neobank, Monzo, in the UK came to the US and it seems incredibly promising! As a larger and more established Neobank, they are much less likely to sell out to big corporations (RIP Simple and One). They seem to have a lot of similar ideas One had and are even working on adding more, all based on live input from their users. The website is ... Source: almost 3 years ago
  • Monzo + DAS Budget
    So basically check out https://dasbudget.com/features and https://monzo.com/us/. Combine all those features and consider that Monzo has a public API that allows DAS Budget to get instant transaction updates from it. Source: about 3 years ago
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What are some alternatives?

When comparing PayZip and Monzo, you can also consider the following products

PayPal - PayPal is the faster, safer way to pay online without sharing financial details, send and receive money or accept credit and debit cards as a seller

Wise - Currency exchange Banks and other providers could charge you up to 5% in hidden costs when sending ...

VoPay - Driving Business Success with Advanced Fintech Solutions

N26 - The Mobile Bank

Open.money - Open is a connected banking platform for business payments that simplifies the process of sending, receiving, and reconciling payments for businesses.

Revolut - The easiest, fastest way to save for your financial goals.

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