Defaults and Monzo Flex

If you miss multiple Monzo Flex payments and don't catch up, we'll eventually "default" and close your account.

A default means you haven't paid back money you owe and that's likely to have a negative impact on your credit score. It will make it harder and more expensive for you to borrow money in the future.

We might default your account under any of these scenarios:

If you miss multiple consecutive monthly payments and don’t catch up

If you miss payments on individual purchases and don’t catch up

If you can only afford to make very small payments or you enter an insolvency arrangement such as an Individual Voluntary Arrangement (IVA) or bankruptcy.

You can find out more about defaults here.

Talk to us if you’re worried about your finances

If you’re struggling with your payments or experiencing financial difficulties then it’s best to get in touch with us through the app as early as possible so that we can help.

If you’d like to find out how we can help with managing your borrowing, please get in touch through the Monzo app:

Tap the Help icon in the menu bar

Search Managing your money

Tap chat with a specialist

If you need some more help, you can also get free, impartial and confidential guidance from any of these debt advice charities.