Easy Bank Transfer Terms and Conditions

These legal terms are between you (the limited company or the sole trader) and Monzo Bank Limited (Monzo/we/us). English law applies and disputes will be settled by the English courts.

These terms and conditions apply to our easy bank transfer service. Easy bank transfers let you make a request in the Monzo app for money to be paid from an account you hold with another bank to your Monzo account.

Our Monzo business account terms and conditions also apply to easy bank transfers. If these easy bank transfer terms and conditions are different to our business account terms and conditions on the same issue, then these easy bank transfer terms and conditions will apply.

You can ask for a copy of these terms and conditions at any time and you can find a copy in the app.

You can continue to make easy bank transfers under these terms and conditions until you tell us in the app that you no longer want to use the service or we stop providing the service to you. If we stop providing the service, we’ll give you the same amount of notice as we would give you if we closed your account (as set out in the Monzo business account terms and conditions). We don’t charge you for making easy bank transfers and you can cancel the service at any time.

We can make changes to these terms and conditions in the same way as we can make changes to your current account as set out in the Monzo business account terms and conditions.

First, select the bank you want to transfer money from using our list of supported banks in the app.

Next you’ll pick which Monzo account you want to transfer the money to and how much you want to transfer. You’ll then confirm that you want us to request an easy bank transfer from your account with your other bank. You may also be able to make a scheduled payment from your other bank to your Monzo account.

Each time you make a request for an easy bank transfer, you agree for the money to be sent from your other bank and that we’ll share your account details with the person you’re sending the money to.

We then direct you to your other bank to approve the transfer. We won’t see any security details you enter to get into your other bank’s account (if you need to enter any security details at all). Once you’ve approved the transfer, you can’t cancel it. If you’ve set up scheduled payments then you can cancel in the Monzo app or with your other bank directly.

As your other bank will send the transfer, they will control how long it takes to arrive - it usually happens instantly but can take up to 24 hours.

You can set up pre-approved limits that let you transfer money to Monzo from another bank without having to leave the Monzo app to approve the payment.

Limits will vary across different banks, most will include a single transfer limit and a monthly transfer limit. Each time you set up a limit we’ll send you to your other bank to approve.

You can always cancel limits in the Monzo app or through your other bank.

We’ll take your confirmation to request the money from your other bank as consent for us to:

For joint accounts and business accounts, the details of the requested transfer will be visible to anyone else with access to your account.

Our legal basis for using your data for these reasons under data protection laws is ‘contract’. We need to share your details so you can use the easy bank transfer service. Read our Privacy Notice for details about how we use your information when you use Monzo.

You can make easy bank transfers from some of the biggest UK banks. If we don’t support yours there’s nothing we can do right now, but we may be able to in the future.

It’s your other bank’s responsibility to send you the money subject to their terms and conditions. We have no liability if something goes wrong with the payment from your other bank. If you need to cancel the transfer, you’ll need to contact your other bank.

We’ll let you know in the Monzo app when we receive the transfer from your other bank or if there is an issue with your other bank making the transfer.

You’ll need to contact your other bank if you’re having trouble accessing your account with them. You should also get in touch with them if you don’t recognise a payment that has been taken out of your account with them, or if a payment looks wrong.

You must request refunds for a transfer from your other bank.

You can contact us through the Monzo app.

Email us at help@monzo.com.

Phone us on 0800 8021456.

Or send a letter to: Monzo, Broadwalk House, 5 Appold Street, London, EC2A 2AG.

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: Broadwalk House, 5 Appold Street, London, EC2A 2AG. The FCA’s contact details are: Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN. Email: consumer.queries@fca.org.uk