Terms and conditions for our Personal Banking referral scheme

To participate in the referral scheme you’ll need to act in good faith and accept these terms through the Monzo app. These legal terms are between you and Monzo Bank Europe Designated Activity Company, Sucursal en España (Monzo/us/we) located at Paseo de la Castellana 43, Oficinas 6-120, 28046 Madrid, Spain.

If you’re eligible, you can participate in this referral scheme from 4 September 2026. This scheme will terminate on 4 September 2027, but we reserve the right to change this.

You’ll need to be a Spanish resident aged 18 or over with an active Spanish Monzo Current Account. You will not be eligible to participate in this referral scheme by sharing a link with someone outside of Spain.

You can’t exchange the reward for an alternative and we can replace the reward with something else at any time.

You can only get one referral reward per referred Monzo customer. A referee can only claim a referral reward the first time they open an account and satisfy the criteria. If your referee has ever had a Monzo account before, neither of you will be eligible for the referral reward.

We appreciate you sharing your unique referral link far and wide with folks you know. But if we suspect that you’re gaming the offer (for example, paying for advertising to promote your link, or posting the link on social media platforms) then we have the right to stop paying you the reward. We’ll contact you to tell you that we’ve done this.

We can also freeze your link and stop paying you the reward if we suspect any fraudulent, abusive or suspicious behaviour. And lastly, your link will stop working if you close your account.

If the person you referred doesn’t sign up and make their first card payment within 30 days of activating the link, you won’t get the reward.

If you have made 100 activated referrals, neither you or any person you have shared a link with after this mark has been reached will receive the reward.

We may run limited time offers where you can earn a different reward after making a successful referral. If this applies, we’ll let you know how it works and how long it’s running for by email or in-app messages. You’ll always be able to check whether a limited promotion applies in the referral part of the app. The remainder of these T&Cs apply to limited time offers.

You’ll need to be a Spanish resident aged 18 or over who doesn’t have a Monzo account. If you’ve ever started signing up for Monzo or had an account before, you’re not eligible for this offer. You are only eligible for a reward under this scheme if you have been referred by a Spanish Monzo customer.

We may not offer a referral scheme or reward in every country we operate in.

We’ll send you an email to the email address you’ve provided, telling you how long you’ve got to complete the referral. We'll send reminders to let you know how long you have left to claim the reward. If you join Monzo after 30 days, you won’t get the reward.

You can’t exchange the reward for an alternative, and we can replace it with something else at any time.

We may run limited time offers where you can earn a different reward after successfully completing a referral. You’ll know if this applies by following the referral link your friend sent you. This will tell you how the offer works and how long it applies for. The remainder of these T&Cs apply to limited time offers.

This could include confirming that you’ve:

Monzo considers the payment of a cash award as income related to any money you deposit with Monzo, and because of this, a 19% withholding tax applies to any cash payment made to personal customers. Monzo will pay the withholding tax due to personal customers on your behalf and report it to the Spanish Treasury. Where applicable, we will also send you a certificate setting out the tax applied before April 2027. All cash amounts paid to Monzo customers in association with the Sign Up Promotions listed above are net of withholding tax. Monzo reminds customers that they are responsible for their own tax affairs.

If you take advantage of this referral scheme, Monzo will assume that you’ve read and agreed to these terms and conditions. And so you know, we have the right to refuse to provide the promotion to anyone who’s breached these terms and conditions.

We’ll end or temporarily close the referral scheme if we suspect any fraudulent, abusive or suspicious behaviour or any activity that contravenes the spirit or letter of these terms & conditions or applicable laws. We can also amend or add to these terms & conditions if necessary, with appropriate notice where required.

We can’t promise we’ll say yes to everyone who applies for Monzo after using a unique referral link. Like all financial service providers, we have a responsibility to keep Monzo and all our customers safe, so there are lots of factors we look at when you apply.

We’ll collect, store and process the data for everyone who participates in the promotion in line with our Privacy Notice and relevant data protection legislation. Spanish law applies to this scheme and these terms and conditions. Anyone who participates, submits to the exclusive jurisdiction of the Spanish courts.

You can contact us in the following ways: