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Understanding overdrafts

An overdraft lets you borrow money when your balance hits £0. It's useful if you’re just wanting to borrow a little extra to tide you over now and again.

But it’s not for the long term, because that can get expensive if you stay in your overdraft too long. If you're struggling, reach out to us. It’s what we’re here for.

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Existing customers can get help via the app

Monzo Bank Limited is a company registered in England and Wales (No.09446231). Monzo Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our financial Services Register number is 730427. Our address is Broadwalk House, 5 Appold St, London EC2A 2AG.