Your statement of fees is a document we’ve introduced as part of new regulations in the UK. It shows how much you’ve paid or earned in interest, as well as any fees you’ve paid on your account over the last year. That’s fees and interest for things like savings, overdrafts, or withdrawing money abroad.
The statement is free, and we’ll give you one for each of your accounts with us (whether that’s your personal account, joint account, business account, or all 3).
You can find your statement of fees in the app
For personal and joint accounts:
Head to your Home screen
Tap ‘Manage’ under your card
Scroll down and tap ‘Statement of Fees’ under ‘Statements’
For business accounts, go to your Account tab, tap ‘Profile’ and scroll down to ‘Statement of Fees’ under ‘Statements.’
It’s for information only, so you don’t need to do anything
The statement covers a year from 1 October 2018 to 30 September 2019, and we’ll send you one yearly from now on (as part of the regulations). If you opened your account after October 1 2018, we’ll generate your statement from that date instead.
It includes everything we charged you, even if we refunded you later. Refunds aren’t in the document but you can find those in your regular bank statements or transaction history.
And although it shows you how much interest you’ve earned, this won’t work for tax returns because it doesn’t cover the whole tax year.
This is part of new regulations that all banks have to follow
The aim is to make it easier for you to see all your account fees and interest in one place, and help you compare these charges to other banks. If you have accounts outside Monzo, you might’ve seen this document already!
As always, if you have any questions about what’s on your statement, you can chat to us in the app any time.