Why UK businesses
choose Monek over SumUp
SumUp is simple and pay-as-you-go, which makes it a sensible starting point for a sole trader or a stall taking the odd payment. As your card volume grows, a flat 1.69% stops being the cheapest option. Here is the honest comparison.
A flat rate does not fall as you grow
SumUp's headline UK rate is 1.69% per transaction with no per-transaction fee (verified May 2026). That simplicity is genuinely useful at very low volume. But it stays at 1.69% whether you take £500 a month or £50,000. Monek starts at 0.99% blended, and drops to IC++ from 0.49% once you are over £200k a year, so the more you take, the more the gap matters.
Interchange-plus once it pays to have it
SumUp does not offer interchange-plus pricing. On a flat rate you cannot see, or benefit from, the wholesale interchange on debit cards. Monek's IC++ tier passes the wholesale cost through with a fixed, visible margin, which is where established merchants save most.
The tools of a full acquirer, included
Monek includes a Virtual Terminal for phone orders and Pay by Link with no per-link fee, plus a free WooCommerce plugin and a native Xero integration. You are not limited to tapping a card on a reader.
Next working day settlement, no reserve
Monek settles into your UK bank account the next working day with no rolling reserve, and there is no monthly account fee or PCI surcharge on top of your rate.
Directly FCA-authorised, with UK support
Monek is a directly-authorised FCA-regulated payment gateway (FRN 920628), with a named UK account manager reachable by phone rather than an in-app chat queue.
Monek vs SumUp, line by line
| Feature | Monek | SumUp |
|---|---|---|
| Headline UK rate | From 0.99% blended (IC++ from 0.49% above £200k/yr) | 1.69% flat (May 2026) |
| Per-transaction fee | 5p UK cards / 10p non-UK | £0.00 |
| Interchange-plus (IC++) option | Yes, from 0.49% | No |
| Contract | Monthly rolling | Pay-as-you-go, no contract |
| Monthly account fee / PCI surcharge | None | None |
| Settlement | Next working day, no reserve | Typically next working day |
| Virtual Terminal / Pay by Link | Included, no per-link fee | Limited |
| UK support | Named account manager, phone included | In-app / online |
SumUp figures reflect its published UK pay-as-you-go rate as of May 2026. SumUp is a strong fit for very low volume; the comparison above matters most as your monthly card takings grow. Always compare against your own numbers.
Frequently asked questions
At what point is Monek cheaper than SumUp?+
Is SumUp ever the better choice?+
Does Monek need a contract?+
Do I get a card machine with Monek?+
How quickly can I switch?+
Is my money as safe with Monek?+
See what you would pay with Monek
Tell us your monthly card volume and average transaction value and we will quote you a like-for-like UK rate. No commitment, and an honest answer if SumUp still suits you better.