Our Business Practices

Monzo is a socially responsible business. We invest customer deposits safely and ethically, we do not engage in any artificial tax planning, and we have a zero tolerance approach to modern slavery and human trafficking.

Our Investment Policy

We believe the best way we can give you confidence in what we do with your money is by telling you exactly how we use your deposits, at all times. This will always show you where your money is held.

Monzo only invests customer deposits safely and ethically. Today, the majority of our deposits are held at central banks. Our investments are only in safe, high quality government bonds and quasi-government bonds (such as development banks). We do not invest in fossil-fuel based energy companies, arms companies or tobacco companies.

We lend out a proportion of our deposits (currently 3.5% of deposits) in the form of unsecured personal overdrafts and loans.

Money stored in interest-earning Savings Pots is held in an account at another bank, depending on which savings pot you opened.

Our Tax Strategy

At Monzo our mission is to make money work for everyone. The tax we pay helps to fund the public services that we all rely on. As a responsible business, we’re committed to doing the right thing for society, and this approach is reflected in our tax strategy. We file our tax returns and pay our taxes in line with both the spirit and the letter of the law, and we don’t engage in artificial tax planning just to cut our tax bill. We don't offer our customers products that have a known tax benefit which is not consistent with the intentions of the government, and we have a zero tolerance policy on tax evasion.

Read our full tax strategy

Our supply chain, partners and our modern slavery statement:

Modern Slavery is a crime and fundamental violation of human rights. We have a zero tolerance approach to modern slavery and human trafficking in our business, including making sure that there's no modern slavery or human trafficking in our direct and indirect supply chains.

Respect for human rights and the ethical treatment of every single person who interacts with Monzo, colleagues, customers, partners and suppliers, is fundamental to what we stand for.

We’re fully committed to transparency in our own business and our approach to tackling modern slavery. You can find our modern slavery and human trafficking statement here.