Missing a Monzo Flex monthly payment
You can catch up with your monthly Flex payments in the app. We don't charge extra fees if you’re late.
We’ll give you 7 days from the date of your missed payment to catch up. It’s important to pay right away if you can, otherwise it’s likely to affect your credit score. You won’t be able to flex any new transactions while you’re behind.
If you haven’t caught up within 7 days, we’ll try to take a smaller amount (your minimum payment) by switching 3 or 6 instalment plans to a 12 instalment plan at 19% APR representative (variable). There's more on this in our help article about interest rates on Flex
If we still can’t take the payment, we’ll report your account as being behind to the credit reference agencies.
Unless you’re on an instalment plan with 0% interest, we’ll still charge interest on your outstanding balance, minus the amount of your minimum payment, from your original payment date.
If you only pay the minimum each month, it’ll take you longer, and cost more, to pay off your Flex balance.
Talk to us if you’re struggling with your finances
If you’re struggling with your repayments or having financial difficulties then it’s always best to get in touch with us through the app as early as possible so that we can help.
You might also wish to get free, impartial and confidential guidance from any of these debt advice charities.
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