monobank vs Privat24: which is better in 2026
Short answer: pick monobank if you want a bank that lives entirely in the app, with sign-up through Diia, a virtual card right after registration, a Business Portal for sole entrepreneurs with taxes and reports in the same app, Banka jars for fundraising, a built-in marketplace and eSIM. Pick Privat24 from PrivatBank if you also want branches and ATMs behind the app, with cash orders, Envelopes for goals, a Junior card from age 6, parking, train and bus tickets and safe boxes. Both apps are in Ukrainian.
How we compare: what each bank says about its app in its own UA App Store description, opening an account, cards, payments and transfers, saving, services for families and for sole entrepreneurs. We leave out fees, rates and rewards, because they change and the banks show them in the app before you confirm. Then the current place of both in the Censuus ranking.
| monobank | Privat24 | |
|---|---|---|
| Best for | an app-only bank | an app plus branches and ATMs |
| Opening | in the app, ID through Diia or documents | open and reissue a card online |
| Cards | debit, credit, USD and EUR, Diia.Card, child’s card | card skins, Junior card from age 6 |
| Saving and goals | deposits, government bonds, Banka jars | deposits in UAH, USD and EUR, Envelopes |
| Sole entrepreneurs | Business Portal: taxes, reports, payments | transfers, balance, statement, account details |
| Extras | monomarket, monobazar, eSIM, car insurance | parking, transport tickets, insurance, safe boxes |
| Ukrainian interface | yes | yes |
Opening an account and cards
monobank opens in the app: confirm your phone, verify your identity through Diia or your ID documents and get a virtual card straight away, with a physical card sent by Nova Poshta or Ukrposhta. It offers debit and credit cards, dollar and euro cards, Diia.Card and a child’s card with parental controls. Privat24 lets you open and reissue a card online, set limits for online payments and cash, order cash at a branch or ATM and pick a virtual card design.
Payments, transfers and saving
Both apps pay utilities, internet, TV, mobile top-ups and fines, send money by card number, exchange currency online and handle international transfers, and both work with Apple Pay. monobank adds deposits, government bonds and Banka jars to collect money for charity or shared goals. Privat24 adds deposits in hryvnia, dollars and euros, Envelopes for goals and donations, spending Analytics and auto payments.
For families and sole entrepreneurs
For sole entrepreneurs, monobank describes a Business Portal opened online, where you control taxes, reports and payments in the same banking app. Privat24 lists transfers from an entrepreneur’s account, balance and statements and sending account details. For children, monobank has a child’s card with parental controls, and Privat24 has a Junior card from age 6 with spending control and a tasks for pocket money feature.
Verdict
Pick monobank for an app-only bank with a Business Portal for sole entrepreneurs, Banka jars and a built-in marketplace. Pick Privat24 for an app backed by branches and ATMs, with Envelopes, a Junior card, parking and travel tickets. To manage spending on top of your bank, see our guide to monobank budget apps, and to pay with your phone, contactless payment apps.
Frequently asked questions
Is monobank or PrivatBank better?
Neither outright. monobank is better if you want a bank that lives entirely in the app, Privat24 is better if you also want branches, ATMs and services like parking and travel tickets in the same app.
Which is better for a sole entrepreneur (FOP)?
monobank describes a Business Portal where you handle taxes, reports and payments in the same app. Privat24’s app lists transfers, balance, statements and account details for an entrepreneur’s account. Compare fees and terms in each bank before you choose.
Can a child have a card?
Yes, in both. monobank has a child’s card with parental controls, and Privat24 has a Junior card from age 6 with parental control of spending.