Before we start, as we’re the promoter of the offer, legally we have to give you our address. So it’s: Monzo Bank, Broadwalk House, 5 Appold Street, London, EC2A 2AG.
If you refer someone to Monzo 🎟
You’ll need to be a UK resident aged 16 or over with an active Monzo business account opened for at least 7 days.
How it works
You share your unique referral link with friends (you can find this in your Monzo app)
They tap the link and enter their mobile number, which sets the clock ticking. They have 30 days to:
download the Monzo app
apply for a current account or business account
add some money and pay for something using Monzo (excluding ATM, money transfers and virtual card transactions)
The referral’s complete and you’ll both get the following bonus:
£5 if they open a personal current account; or
£50 if they open a business account.
You can’t exchange your bonus for an alternative and we can replace the bonus with something else at any time.
You can earn a maximum of 3 referral rewards per calendar month under the Business Referral Scheme, including any referrals made under previous versions of the Business Referral Scheme.
Each link can only be shared with 10 people per calendar month. After that, you and any person who uses the link won't receive a referral bonus even if they enter their details and complete the referral.
If you reach your referral limits, you’ll still be able to refer your friends, but you won’t be eligible for the £50 reward. If you have a personal current account you may also be eligible to get a referral fee under the Personal Referral Scheme. Your limits will reset on the 1st of the following calendar month, and you’ll be able to earn the £50 business referral rewards again.
You can only get one referral payment per referred customer. A referred business can only claim a referral bonus once, the first time they open an account. The referred business can’t already have an account with Monzo.
Getting the bonus starts on 1 February 2024. It doesn’t have an end date but we can change this at any time.
When we won’t pay you £5
We appreciate you sharing your unique referral link far and wide with folks you know. But if we suspect that you’re gaming the offer (for example, paying for advertising to promote your link) then we have the right to stop paying you the bonus. We’ll contact you to tell you that we’ve done this.
We can also freeze your link and stop paying you the bonus if we suspect any fraudulent, abusive or suspicious behaviour. And lastly, your link will stop working if you close your account.
If the person you referred doesn’t sign up and make their first payment within 30 days, you won’t get the bonus.
Limited time offers
We may run limited time offers where you can earn a different reward after making a successful referral. If this applies, we’ll let you know how it works and how long it’s running for by email or in-app messages. You’ll always be able to check whether a limited promotion applies in the referral part of the app. The remainder of these T&Cs apply to limited time offers.
If you’re invited to join Monzo 🎟
You’ll need to be a UK resident aged 16 or over who doesn’t have a Monzo account. If you’ve ever started signing up for Monzo, had a Monzo personal account , or been a user on a Monzo business account, you’re not eligible for this offer.
How it works
You get someone’s referral link and enter your mobile number
You have 30 days to download the Monzo app, apply for a personal current account or business account, add some money and pay for something using your physical Monzo card (excluding ATM, money transfers and virtual card transactions)
The referral’s complete and you’ll both get the following bonus:
£5 if you open a personal current account; or
£50 if you open a business account.
We’ll send a message to the mobile number you’ve given us, telling you how long you’ve got to complete the referral. We'll send reminders to let you know how long you have left to claim your bonus. If you join Monzo after 30 days, you won’t get the bonus.
You can’t exchange your bonus for an alternative, and we can replace it with something else at any time. Getting the bonus starts on 1 February 2024. It doesn’t have an end date at the moment, but we can change this at any time.
Limited time offers
We may run limited time offers where you can earn a different reward after successfully completing a referral. You’ll know if this applies by following the referral link your friend sent you. This will tell you how the offer works and how long it applies for. The remainder of these T&Cs apply to limited time offers unless we state otherwise.
We’ll keep the person who referred you updated on your progress
This could include confirming that you’ve:
added your mobile number using their link
opened an account
made your first payment
The small print (in normal size) 🔍
If you take part in our referral scheme, we assume you’ve read and agree to these terms and conditions. If we suspect any fraud or breach of these terms, we can refuse to pay the bonus or reverse a payment we’ve already made.
We can’t promise we’ll say yes to everyone who applies for Monzo after using a unique referral link. Like all financial service providers, we have a responsibility to keep Monzo and all our customers safe, so there are lots of factors we look at when you apply.
We’ll collect, store and process the data for everyone who takes part in line with our Privacy Notice. And the last thing from us: English law applies to this referral scheme. Anyone who enters it submits to the exclusive jurisdiction of the English courts.
Past versions
