Information about Get Paid fees
How much does an easy bank transfer cost me?
The Faster Payments Scheme’s easy bank transfers are free until 2025. We won’t charge your customers any extra fees so they'll only pay the amount you charge them.
The money should pop up in your account straight away, but it can take up to 24 hours, or a little extra if there are extra checks. And it’s 7-14 days for the first payment you take.
How much does it cost me to take card payments?
It depends whether you're taking the payment using contactless (in person) or online via an invoice or payment link.
For online card transactions Stripe charges:
£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 contactless card transactions Stripe charges:
£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 another account you've linked to Stripe). There’s more info about Stripe's fees on their website.
We don't charge any fees on top of Stripe's, but they do pay us a commission.
Here's how it might look in practice for online card payments:
£20 payment and your customer pays online with a standard UK card, you'll get £19.50 in your account (£20 - £0.20 - 1.5% x £20)
£100 payment, and your customer pays online with a European card, you'll get £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'll get £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)
What are the costs for my customers if I use payment links?
We won’t charge your customers any extra fees so they'll only pay the amount you charge them.
