Terms and Conditions

These legal terms (English law applies) are between you and Monzo Bank Limited (Monzo/us/we) and you agree to them by using the Monzo app.

You should read this document along with our Data Privacy Notice.

You can contact us through the Monzo app.

Email us at help@monzo.com.

Phone us on 0808 1699456.

Or send a letter to: Monzo, 38 Finsbury Square, London, EC2A 1PX.

We'll contact you in English 🇬🇧 and Emoji 😃 via the Monzo app, or through your email, phone, business or home address. Please let us know if any of these change!

You can add anyone to share the account with you and they'll be able to do everything you can (including adding other users, who can add other users), although ultimately you're responsible for their actions.

Any user can give us instructions on behalf of all users. We won't ask for you to give instructions jointly, unless it's to remove a user or close the account.

If we're aware there's a dispute between users we may ask for instructions to be given jointly, or reject the instruction. We may freeze the account while we investigate the dispute, and may request evidence to confirm the dispute has been resolved.

If you want to remove someone from the account, please contact us via the Monzo app.

You need enough money in your account to make payments. But some transactions that would take your balance below zero may still go through. If that happens, we'll let you know the amount you'll need to repay before the end of the day and you'll need to pay us back as soon as possible.

Joint account holders will be individually as well as jointly liable. This means we can ask any of you to pay back money you owe us.

We may block your payments and/or prevent user access if:

If we block a payment, we'll let you know as soon as possible.

You'll find information about your account fees on our fees and charges page. We charge a monthly account fee, starting the day you open the account. You need to pay the fee when it's due and if you don't have enough money in the account we'll retry each day.

We'll give a card to each user who signs up for your account via the Monzo app.

We won't charge you any money for paying by card abroad. When you use your card abroad to make a payment in a foreign currency, we use Mastercard's exchange rate with a 0.0% fee.

Monzo is covered by the Financial Services Compensation Scheme (FSCS). The FSCS pays compensation to eligible depositors if a bank can't meet its financial obligations. Most depositors are covered by the scheme, but it depends on some FSCS criteria (see our FSCS information sheet).

You can find more information about the scheme (including the amounts covered and eligibility to claim) from the FSCS website at www.fscs.org.uk.

By accepting these terms, you agree to us using your information to make and receive payments on your account. If you're no longer happy for us to use your information, we'll have to close your account. But we may keep personal data about you, your directors, your users and other relevant third parties and use it where we have lawful grounds to do so. For example, any records we need to keep for regulatory reasons (see our Privacy Notice).

Please keep your phone, card and PIN safe at all times. If we discover any security issues affecting your account, we'll contact you as soon as possible.

If you lose your card or see transactions in the app that look wrong, freeze your card and tell us as soon as possible.

We'll usually refund you any money if:

We'll also refund any money you lost due to our mistakes or inaccuracies with your payments.

But you won't be able to claim back money you've lost if you or people you authorised:

If someone pays money into your account by mistake you give us permission to return it.

If you've used your card to make a payment which didn't specify the exact amount (for example when hiring a car), and the final amount is higher than you could reasonably have expected, we'll give you a refund. You'll need to tell us within 8 weeks of the transaction, and give us any information we reasonably ask for to investigate.

Errors with Direct Debits are covered by the Direct Debit guarantee scheme.

You can cancel your account within the first 14 days of opening it, or close it at any other time. If you'd like to, please get in touch with us. We will ask for joint instruction from all authorised users to close the account. You'll need to repay any money you owe us before we can close your account. Once we've closed it, your card won't work and you won't be able to access your account.

We can close your account by giving you at least two months' notice. We may close your account or stop you using your card and app immediately if we believe you or any authorised user has:

Where there are multiple account holders and one of you dies, the account won't be considered as part of the deceased person's estate and the surviving account holders can continue to use the account.

If you have a complaint, please contact us and we'll do our best to fix the problem.

If you're still not happy, and are an eligible small business, you can refer your complaint to the Financial Ombudsman Service. For more details, or to check your eligibility, you can visit their website at sme.financial-ombudsman.org.uk.

This agreement will always be available in the app and on our website.

If we make changes to it that are clearly in your favour, we'll tell you once we've made them. Otherwise we'll give you two months' notice.

If you don't agree to these changes, you can let us know and we'll close your account. We'll transfer any money in the account to another account of yours, and you'll need to pay back any money you owe us.

Monzo Bank Limited, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 730427). Registered in England. Registered No. 9446231. Registered Office: 38 Finsbury Square, London, EC2A 1PX.