Terms and conditions for our referral scheme

These are the terms and conditions for our give-£5-get-£5 offer.

Before we start, as we’re the promoter of the offer, legally we have to give you our address 🤷‍♂️

So here it is: Monzo Bank, Broadwalk House, 5 Appold Street, London, EC2A 2AG.

You’ll need to be a UK resident with an open UK Monzo account of any type.

Your invite link lives in the Monzo app. When you send it to someone, we ask for their mobile number. This sets the clock ticking. They have 30 days to download the Monzo app, apply for a current account (this can be a personal account, a joint account or a business account), add some money to their account, and pay for something using Monzo. Once they’ve done that we’ll automatically put £5 in both your accounts.

Your invite link has a “soft limit” of 100 people. If you cross that limit because you’re sharing your link far and wide with folks you know (posting on social media is fine), that’s great. Go wild! We’ll salute you as you sail past £500 in £5 bonuses. But if you’re paying to advertise your link to people you’re not connected with, or gaming the offer in any other way, we can freeze the link so it stops working. We’ll pay you up to £500 because we appreciate you helping us spread the word, then no more.

We’ll also freeze your link if we need to block your Monzo account (for instance, if we suspect any fraudulent, abusive or suspicious behaviour). And lastly, your link will stop working if you close your account.

You’ll need to be a UK resident aged 16 or over who doesn’t have a Monzo account.

When you use someone’s invite link, we ask you for your mobile number. This sets the clock ticking. You have 30 days to download the Monzo app, apply for an account, put some money in your account, and pay for something using Monzo. Then we’ll automatically put £5 in both your accounts.

Sometimes we may need to freeze a customer’s invite link. If you’ve used their link to tell us your mobile number before we freeze their link, you’ll still get your £5. But if you try to start the process after we freeze their link, we’re afraid you won’t get the £5, although you’re still very welcome to apply for a Monzo account.

If you’ve ever started signing up for a Monzo account or had a Monzo account before, you’re not eligible for this offer.

Our give-£5-get-£5 offer goes live on 17 November 2021. It doesn’t currently have an end date, but we have the right to turn it off or on at any time. We’ll let you know by removing the ability to create new invite links. Invite links you’ve already created will still work for 30 days after you created them.

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

If you take part in our give-£5-get-£5 offer, we have to assume you’ve read and agree to these Ts&Cs. If we suspect any fraud or breach of these terms, we can refuse to pay the £5 bonus or reverse any payment.

We can’t promise we’ll say yes to everyone who applies for a Monzo account after using an invite 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. Our current account Ts&Cs apply to personal and joint accounts, and our business account Ts&Cs apply to business accounts.

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 give-£5-get-£5 offer. Anyone who enters it submits to the exclusive jurisdiction of the English courts.