Information about Get Paid fees
How much does an easy bank transfer cost me?
Easy bank transfers are free until 2024.
Monzo will not charge your customers any additional fees; they'll only be asked to pay the amount you charge them.
The money should arrive in your Monzo Business account straight away, but can take up to 24 hours. Easy bank transfers are powered by the Faster Payments Scheme.
How much does accepting card payments cost me?
It depends. Fees vary depending on whether you're receiving payment using contactless (in person) or online via an invoice or payment link.
For each online card transaction Stripe will charge you:
£0.20 + 1.5% for standard UK cards
£0.20 + 1.9% for premium UK cards
£0.20 + 2.5% for European Economic Area cards
£0.20 + 3.25% for all other cards
For each contactless card transaction Stripe will charge you:
£0.20 + 1.4% for European cards (including UK)
£0.20 + 2.9% for all other cards
To learn more about the differences between standard and premium cards take a look at Stripe's website.
They'll take the fee before the money arrives in your Monzo Business account (or any other bank account you've chosen to get paid out from Stripe). If you want to learn more about Stripe's fees, take a look at their website.
Here's how it might look in practice for online card payments:
£20 payment and your customer pays online using a standard UK card, you'll receive £19.50 in your account (£20 - £0.20 - 1.5% x £20)
£100 payment, and your customer pays online with a European card, you will receive £97.30 in your account (£100 - £0.20 - 2.5% x £100)
£50 payment, and your customer pays online with a non-European/non-Uk card, you will receive £48.17 in your account (£50 - £0.20 - 3.25% x £50)
Here's how it might look in practice for in person contactless payments:
£10 payment and your customer pays in person using contactless with a European card, you will receive £9.66 in your account (£10 - £0.20 - 1.4% x £10)
So you know, we don't charge any fees in addition to Stripe's fees – but Stripe pays us a commission.
It will take 7-14 days for the first card payment you accept to come through (or if Stripe runs extra checks on a transaction).
What are the costs for my customers if I use payment links?
Monzo will not charge your customers any additional fees; they'll only be asked to pay the amount you charge them.
