What are round up payments?

You can choose to enable round up payments on any one Jar you have open.

With round up payments enabled - when you send using your Monzo debit card, we will take each payment and round it to the nearest dollar. Then we will take that “extra” change, and automatically send it to the Jar you chose.

For example: if you had round up payments turned on and went to make a $6.72 purchase. We would round that up to $7, and automatically transfer $0.28 to your Jar.

So you would see a $7 purchase in your account, and if you tapped on it you would get the breakdown showing the original purchase price, and the amount that was sent to your Jar.

This money is not locked down or restricted - you are free to transfer the money back to your main balance at any time.

💡 Pro tip: We also offer round up “multipliers” - which help you save even quicker. You can choose to multiply the round up amount by 2x, 5x, or 10x. So, in the earlier example - you could have your app automatically transfer $0.56, $1.40, or $2.80 respectively.

ℹ️ Please note: All round up payments are simply just transfers from your main account balance to a Jar. This option is just a way to conveniently save small amounts of money over time - we are not providing cash bonuses/incentives when you turn this feature on.