New to Monzo Plus: interest on your money and exclusive discounts

Read the article

In April this year we brought you Monzo Plus – a way for you to get more from your Monzo account for a monthly fee. Check out our future vision for Monzo Plus here.

A lot of banks give you the option to add bundles of extra features to your account. But they usually include a bunch of stuff you don’t need. So, we’re building Monzo Plus a little differently, so you can pick and choose the features that suit you.

Today, we’re adding two new things to Monzo Plus: we’re letting you earn interest on the balance in your Monzo account and giving you access to exclusive offers and discounts.

Yours at no extra cost

Because these are both Core features - ones that everyone gets with Monzo Plus – you don’t pay extra for them. Right now you can get Monzo Plus from £6 a month for 12 months. If you add any Custom features, like travel insurance, you’ll pay more.

If you signed up for Monzo Plus at the early bird price of £3 a month for 12 months then that’s what you’ll continue to pay. You get these two new features thrown in at no extra cost.

Earn interest on your balance

From today, anyone with Monzo Plus will earn 1.5% interest (AER)* on positive balances up to £4,000. That includes any money you’ve got saved in a regular Pot, but not money you’ve got in Savings Pots.

*AER is short for the Annual Equivalent Rate. It shows you what the rate would be yearly with compound interest – which is when you earn interest on top of interest.

Monzo Plus - interest

You’ll earn interest daily, and we’ll pay it into your account on the first day of every month. 

If you don’t want to earn interest on your money, you can opt out in the app.

Get exclusive discounts and offers

We’ve teamed up with a few different companies to give you access to exclusive deals we think you’ll love.

Monzo Plus_July2019_Partner logos

We’ve worked hard to get you a better deal than if you went direct. In some cases that means you’ll get the very best deal on the market!

From discounted music subscriptions to great deals on car hire, we’ve chosen brands who save you time and hassle, give you value for your money and great customer service (just like we do!).

Jack’s Flight Club
Get email alerts about hand-picked deals on cheap flights.
3-month free Premium membership
Fresh ingredients and delicious recipes delivered straight to your door.
10% off every order.
Discover thousands of hotels, apartments and hostels around the world.
10% off bookings
Stream your favourite music in one place, and in the best sound quality available.
Get 15% off your monthly subscription – just £8.50 a month
The UK’s largest and most flexible car sharing service.
£36 credit for new customers
High quality razors and men's toiletries, delivered right to your door.
10% off every order
Enjoy lunch from Island Poke, Patty & Bun and hundreds of your other favourite London spots.
Get 40% off your first month, and then two free meals a month
Pact Coffee
Fresh, ethically sourced coffee delivered directly to your door.
New customers: get £5 off your first order, and £1 off every order after that

You’ll have access to these offers as long as you’re on the latest version of the app. Just go to Monzo Plus in ‘Profile’, tap ‘Manage’ and then ‘Discounts and offers’. 

Metal cards and contents insurance coming soon…

We hope we’ll be able to add metal Monzo Plus cards and contents insurance by the end of summer. For updates and announcements keep an eye on the blog and your app. 

At the moment, you can’t add new custom features on to your subscription after you’ve signed up, but we’re going to add the option to let you do that soon.

Sign up for Monzo Plus now

If you don’t already have Monzo Plus, why don’t you? You can sign up straight away – there’s no waitlist to sit in. It takes a couple of minutes and you can do it all from the app.

If you’re on your mobile, tap here to sign up.

Otherwise, go to your app and tap “Monzo Plus” under your profile.