Monobank
Built by the ex-PrivatBank team; kept Ukraine's payments running through blackouts and full-scale war, with a cat mascot.
8M+ customers; Ukraine's app-first bank.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Operates on Universal Bank license.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Monobank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Kyiv, UA |
| Founded | 2017 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Operates on Universal Bank license |
| Card | MC · Debit + credit |
| Cashback | Cashback categories |
| Yield | Deposits |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
| Countries | Ukraine |
| Founders | Oleh Gorokhovskyi, Mykhailo Rogalskyi |
| Funding | Bootstrapped, profitable |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @monobank_ua ↗
Common questions about Monobank
What is Monobank?
Monobank is a fiat neobank, headquartered in Kyiv, UA and founded in 2017. Your money is held custodially, so Monobank or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Operates on Universal Bank license).
Does Monobank have a card, and where can you use it?
It issues a Mastercard debit and credit card. It is available in Europe.
Does Monobank require KYC?
Yes. Monobank requires identity verification (KYC) to open an account, as a partner-bank model.
What does Monobank cost?
From the verified fields: cashback Cashback categories; yield Deposits. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Monobank before relying on them.
Peers
Monzo · Wise · Starling Bank · Atom Bank · Zopa Bank · Chase UK
Monobank appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in Europe (144) · Neobanks that issue a Mastercard (150)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.