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Terms and Conditions

14th March 2018

What is Monzo šŸ¤”

These legal terms (English law applies) are between you and Monzo Bank Limited (Monzo/us/we) and you agree to them by using the Monzo app.

You should read this document along with our Data Privacy Notice.

How to contact us šŸ’¬

You can contact us through the Monzo app.

Email us at

Phone us on 0800 8021456.

Or send a letter to: Monzo, 230 City Road, London, EC1V 2QY.

We'll contact you in English šŸ‡¬šŸ‡§ and Emoji šŸ˜ƒ via the Monzo app, or through your email, phone or home address. Please let us know if any of these change!

Making payments šŸ’ø

You need enough money in your account to make payments. But some transactions that would take your balance below zero may still go through. If that happens, we'll let you know the amount you'll need to repay before the end of the day.

If your balance is below zero, we won't charge anything up to -Ā£20. But after that, we charge 50p a day at the end of each day. We calculate overdraft fees at the end of the day and take them from your account on the first day of the month.

We may block your payments if:

  • your instructions are unclear

  • we suspect criminal activity on your account

  • we're not legally allowed to make the transfer

  • it goes over your payment limits (you'll find these in your app; they'll change over time).

If we block a payment, we'll let you know as soon as possible.

Using your card abroad šŸ

Your Monzo card will work outside of the UK, but for some ATMs you may need to turn on the magnetic stripe. You can do this in the app.

As foreign ATM withdrawals cost us money we pass those costs to you. You can withdraw up to Ā£200 from ATMs abroad in any rolling 30-day period without any fees. After that, we charge 3% of the total amount you withdraw above Ā£200.

If something goes wrong šŸ˜±

Please keep your phone, card and PIN safe at all times.

If you lose your card or you see transactions in the app that look wrong, freeze your card in the app and tell us as soon as possible. We might be able to refund any money you lost due to our mistakes or inaccuracies with your payments or due to fraud.

But, you won't be able to claim back money you've lost if:

  • you didn't keep your phone, card and PIN safe

  • you broke the terms of this agreement

  • you gave us incorrect instructions (we'll still try to help you recover your money)

  • we took actions under conditions outside of our control

  • the losses aren't the direct result of our actions.

If someone pays money into your account by mistake you give us permission to return it.

How to make a complaint šŸ˜”

If you have a complaint, please contact us and we'll do our best to fix the problem.

If you're still not happy, you can refer your complaint to the Financial Ombudsman Service. For more details you can visit their website at

Making changes to this agreement šŸ“

This agreement will always be available in the app and on our website.

If we make changes to it that are clearly in your favour, we'll tell you once we've made them. Otherwise we'll give you two months' notice.

If you don't agree to these changes, you can let us know and we'll close your account. We'll transfer any money in the account to another account of yours, and you'll need to pay back any money you owe us.

Closing your account šŸ˜­

To close your account, please get in touch with us. You'll need to repay any money you owe us before we can close your account. Once we've closed it, your card won't work and you won't be able to access your account.

We can close your account by giving you at least two months' notice. We may close your account or stop you using your card and app immediately if we believe you've:

  • broken the terms of this agreement

  • put us in a position where we might break the law

  • broken the law or attempted to break the law

  • given us false information at any time

  • been abusive to anyone at Monzo or a member of our community.

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: 230 City Road, London, EC1V 2QY.