This document is about the fees you need to pay for Monzo’s investment services, and the investment products we make available to you.

To help you understand what you’re paying for your investments and why, we’ve used some example calculations to show how the fees work. These are just examples, rather than an indication of the fees you’ll actually pay.

You pay fees to both us and the fund manager that makes the funds you invest in. At the moment, the only products we offer are funds managed by BlackRock.

We charge you fees for making Investment Accounts available to you, for helping you to buy and sell investments, and for the services we provide through the Monzo app. Our Investment Services Partner (FNZ Securities) charges us for the Custody and (if relevant) the ISA services it provides you in relation to your Investment Account. We take that cost into account when we set the fees for our investment services.

BlackRock charges you fees for managing funds you’ve invested in. ‘Managing the fund’ means taking steps to try and make a return on the money you and other investors have invested in the fund, in line with the fund’s investment objective. You can see more information about each fund’s investment objective in the Key Investor Information Document. You can see this in the app for the funds you invest in.

We charge a fee of 0.45% a year, or 0.35% if you’re a Monzo Plus or Monzo Premium customer, or if you subscribe to a plan that offers a lower fee on your Investments Pots in the terms. We apply this percentage to the value of investments and cash in your Investment Account.

Fees build up daily, and you’ll pay them each month. We work out the fees you need to pay for each day, add them up over the course of the month, and then charge the fees due for that month. We round the fees down to the nearest £0.01, and collect them on or around the same day each month - starting with the day which falls one month after you opened your Investment Account.

We take the fees automatically from your Investment Account each month - if there’s not enough cash in your account, we’ll sell just enough of your investments to generate cash to pay the fees. See more details in the terms and conditions.

The fee you’ll need to pay BlackRock is the same for all three funds you can invest in - 0.14% a year. This fee is known as the ongoing charges figure. You can see more details about how BlackRock works out this fee in the Key Investor Information Document and the prospectus for each fund you invest in.

BlackRock takes the fee out of the fund. This means you won’t see the fee come out of your account, but it’ll reduce the value of the fund you’re invested in instead.

In total, you’ll pay 0.59% of the value of your investments in fees, or 0.49% if the fee we charge you is 0.35%. That’s our fees plus BlackRock’s fees. The fees you pay affect the returns you get.

To give you an idea of how this could look, let’s say you have £100 invested in the Balanced fund (BlackRock MyMap 5 Select ESG). If the investment value doesn’t change at all in that year, you’d pay:

We’ve partnered with BlackRock to provide the investment products available to you.

BlackRock will work with us on our investments offering, including financially, to help enhance in-app experience and features like educational content.

Based on the number of customers we expect to use Monzo Investments during this partnership, we estimate BlackRock's contribution will be approximately £2.70 per year for each customer.