Terms and conditions for our personal banking referral scheme

These legal terms are between you and Monzo Bank Limited (Monzo/us/we) located at Broadwalk House, 5 Appold Street, London, EC2A 2AG.

This offer is available from 23 September 2025. It doesn’t have an end date, but we can change this at any time.

You’ll need to be a UK Monzo current account holder aged 16 or over.

You can only make referrals under this Personal Banking Referral Scheme once you have reached your referral limit under the Business Banking Referral Scheme.

You may be able to refer folks outside of the UK to Monzo (we’ll call these referrals International Referrals). To make a successful International Referral:

For successful International Referrals, you and your referee will be subject to separate referral schemes and terms & conditions. You may also be eligible for different rewards. We may not offer a referral scheme or reward in every country Monzo operates in outside of the UK.

If you are thinking about making an International Referral, check our website to confirm if a relevant referral scheme is available.

You won’t be able to make International Referrals under the Personal Banking Scheme where:

We’ll call the amount you receive from us once a referral has been successfully completed ‘the reward’ and we'll let you know the reward you’ll receive in the app once the referral’s complete.

The reward amount may vary with each referral you make.

For your first 100 referrals, the reward amount you’ll receive is based on random selection according to this table:

Instead of the above, a fixed reward of £5 per referral will be paid:

We may offer you more or less than the values we’ve set out above, and if we do, we’ll let you know in the app. There may be instances where you won’t be eligible for any reward.

You can only get one reward per referred customer. If your referee has ever opened a Monzo account previously, you’re both not eligible for this offer.

You can’t exchange the reward for an alternative and we can replace the reward with something else of equivalent value 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 reward. We’ll contact you to tell you that we’ve done this.

We can also freeze your link and stop paying you the reward if we suspect any fraudulent, abusive or suspicious behaviour. And lastly, your link will stop working if you close your account and you won’t get a reward for referrals completed after you’ve closed your account.

If your referee doesn’t sign up and make their first card payment within 30 days, you won’t get the reward. You can find out more about what your referee has to do to complete the referral in our “If you’re invited to join Monzo” section below.

We may run limited time offers where you can earn a different reward to the one set out above (including earning an additional reward after successfully making a 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. Other than the reward, these terms & conditions apply to limited time offers unless we tell you otherwise.

This section applies to referees who are UK residents aged 16 or over who don't have a Monzo account. If you’ve ever opened a Monzo account previously, you’re not eligible for this offer.

If you have been referred to open a Monzo account in a country outside the UK in which Monzo operates, these terms & conditions do not apply to you, and you are not eligible for a reward under them. Check our website to confirm if a referral scheme is available in your country.

We may not offer a referral scheme or reward in every country we operate in.

We’ll call the amount you receive from us once a referral has been successfully completed ‘the reward’ and we'll let you know the reward you’ll receive in the app once the referral’s complete.

The reward amount may vary depending on the type of Monzo accounts your referrer holds and the number of referrals your referrer has made.

If your referrer has a Monzo current account only, and they’ve made under 100 referrals, the reward amount you receive will be based on random selection according to this table (and the person referring you will receive the same reward):

After your referrer has made 100 referrals, the reward will decrease to £5 for both of you.

If your referrer holds both a Monzo business account and current account, your and your referrer’s reward will be £5 unless your referral is completed under the Business Banking Referral Scheme.

We may offer you more or less than the values we’ve set out above, and if we do, we’ll let you know in the app. There may be instances where you won’t be eligible for any reward.

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 the reward.

You can’t exchange the reward for an alternative, and we can replace it with something else of equivalent value at any time.

We may run limited time offers where you can earn a different reward to the one set out above (including earning an additional reward after successfully completing a referral). You’ll know if this applies by following the referral link sent to you. This will tell you how the offer works and how long it applies for. Other than the reward, these terms & conditions apply to limited time offers unless we tell you otherwise.

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 & conditions. If we suspect any fraud or breach of these terms or any other relevant terms & conditions (such as our current account terms & conditions), we can refuse to pay the reward 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.

English law applies to this referral scheme. Anyone who enters it submits to the exclusive jurisdiction of the English courts.

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 St, London EC2A 2AG.