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Our Ethics and Values

We started Monzo because we believe there should be an alternative to the banking of the past. We are focussing on solving customer problems, rather than selling financial products, as a way to offer what we hope will be the best current account in the world. For more information about what this page is and why we created it, visit our blog post on ethical banking.

This page will always show you where your money is held, as well as any changes we've made or are planning to make.

Investment Ethics

Current Statement

If you are on the Monzo current account, a very small proportion of your money (around 10% of total deposits) will be lent to Monzo customers in the form of unsecured personal overdrafts.

The rest sits in cash in our Reserves Account at the Bank of England or be used as collateral for payment schemes. In the future, we are likely to do more personal lending and invest some of the money in high quality liquid assets like UK government bonds.

We will continue to keep this page updated.


August 3rd, 2017: Statement updated to reflect the Monzo current account now being live June 7th, 2016: Statement published

Living Wage

This is a public commitment that every single member of the Monzo team, regardless of whether they are employed by us or third-party contractors receives at least the minimum living wage as set yearly by the Living Wage Foundation.

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