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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

We lend out a proportion of money stored in Monzo current accounts (up to 25% of total deposits) in the form of unsecured personal overdrafts and loans.

Money stored in interest-earning Savings Pots is held in an account at another bank, depending on which Savings Pot you opened. We'll keep you in the loop on any future savings partnerships.

We use some money as collateral for payment schemes. The rest sits in cash and balances at central banks.

In the future, we're likely to do more personal lending and invest some of the money in high quality liquid assets like UK government bonds.

We'll keep this page updated.


April 29th, 2019: Statement updated to reflect that customers can now access Savings Pots from several bank providers.

October 25th, 2018: Statement updated to reflect money held by Investec for Savings Pots, and updating the loan-to-deposit ratio (from 10% to 25%)

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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