Terms and Conditions for our Business Referral Scheme

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.

You’ll need to be a UK resident aged 16 or over with an open Monzo business account.

You can’t exchange your £5 bonus for an alternative and we can replace the £5 bonus with something else at any time.

Getting the £5 bonus starts on 17 November 2021. It doesn’t have an end date but we can change this at any time.

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 £5 reward. We’ll contact you to tell you that we’ve done this.

We can also freeze your link and stop paying you the £5 reward 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 £5 reward.

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.

Find out more about our £50 referral offer below.

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 or had an account before, you’re not eligible for this offer.

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 £5. If you join Monzo after 30 days, you won’t get the £5 reward.

You can’t exchange your £5 bonus for an alternative, and we can replace it with something else at any time. Getting the £5 bonus starts on 17 November 2021. It doesn’t have an end date at the moment, but we can change this at any time.

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.

If you’ve been referred under the £50 referral limited offer, you can find more information below.

This could include confirming that you’ve:

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 £5 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.

We’ll let you know by email if you’re eligible for this offer. This is a limited offer during which we’ll enhance the £5 referral payment to £50 for any referrals for business accounts. This offer will be open from 09:00 on 11th December 2023 until 23:59 on 31st January 2024 after which it will close for new referrals. If there are any changes to the offer period, such as ending early due to budgetary limits or extending, we’ll let you know by email too.

There are some extra rules that apply to this offer. You and the business you refer will get a £50 bonus if they open a Monzo business account, add some money and spend on their Monzo Business Card (excluding ATM, money transfers and virtual card spend) within the first 30 days of claiming the referral.

Your Monzo business account must have been opened for at least 7 days for you to be eligible to make a referral under this offer. As the referrer, the maximum referral bonus you can earn from business referrals is £150, which is the equivalent of 3 referrals.

Each link can only be shared with 10 people. 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.

For business customers with multiple users this referral limit applies as a maximum cap for all users of the same business. A referred business can only claim a referral bonus once, the first time they open an account.

All the other terms and conditions for business referrals also apply to this referral bonus, but with the £5 payment enhanced to £50. If you are eligible for £50 referrals you won’t be paid for referrals after you have reached the £150 limit. If you have a personal current account you may also be eligible to get a referral fee under the Personal Referral Scheme. You can only get one referral payment per referred customer.