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These are our Monzo Plus Terms and Conditions. Please read this document carefully, as well as our general Monzo Terms and Conditions and Data Privacy Notice.

You have to be 18 or over and live in the UK to apply

First things first, you need to be 18 or over, have a Monzo account and be a UK resident to apply for Monzo Plus.

Paying for Monzo Plus

By signing up to Monzo Plus you agree to pay monthly for a minimum of 12 months. The amount you pay will depend on the features you add to Monzo Plus. You can find your monthly payment in the 'Monzo Plus’ section of your in-app profile in the Account tab.

You can find everything you need to know about Monzo Plus account fees here.

We'll take the payment from your Monzo current account on the same date of each month that you signed up on. So if you sign up for Monzo Plus on the 3rd of February, we'll take your first payment as soon as you sign up, and then again on the 3rd of each following month for 12 months.

The last day of your minimum term will not change if you choose to add new features. After 12 months you’ll be moved to a rolling contract which you can cancel at any time.

You need to make sure you have enough money in your account to make the payments. If you don't, and you don't have an arranged overdraft with us, then the payment won't go through.

We'll try taking the payment again and if you still don't have enough money after 14 days, then we'll cancel your Monzo Plus subscription including any insurance policies and you won't be able to use your Monzo Plus features. When you put money into your account, we’ll charge you the monthly fee and give you access to the features again. We won’t try to recharge you outside of the minimum term.

Cancelling and renewing your subscription

If you change your mind, you can cancel your subscription within 14 days of signing up. At the end of the 12 months your subscription switches to a rolling one and you can cancel it any time.

Exclusive Monzo Plus card

We'll send you an exclusive new Monzo Plus card in the colour that you choose when you sign up.

Interest on your balance and regular Pots

We’ll pay you interest on the total available balance in your Monzo account up to £4,000 (including regular Pots). We’ll calculate how much interest you’ve earned at midnight each day, and pay it into your account on the first day of the month. If you close your Monzo account before the end of the month you won’t get any interest for that month. You can find information about the interest rate, any changes we might make to it and other key details in this Summary.

Discounts and rewards

We’ll give you access to offers, discounts and rewards from a range of brands. The brands may remove or cancel these offers at any time. And so you know, we earn a commission for promoting the brands.

As a Monzo Plus customer you can personalise your Monzo.me link. In case you don't know, that's the link you can send to friends when you want to pay or be paid by someone instantly. You can name it what you like, as long as it's not inappropriate or already taken by someone else.

Your travel insurance

You’ll only get this custom feature if you choose to add it.

Your worldwide family travel insurance is provided by AXA. It covers:

  • Medical bills up to £10m
  • Personal liability insurance up to £1m
  • Trip cancellation costs up to £5,000
  • Valuables cover up to £1,500
  • Legal expenses up to £25,000
  • Baggage cover up to £750
  • An excess of £50
  • Winter sports

You're not covered for trips you're already on or any pre-existing medical conditions.

You can find the details of your cover in AXA's Terms and Conditions.

Using your card abroad

You’ll only get this custom feature if you choose to add Travel Money.

If you’ve added travel money to Monzo Plus, as soon as you’ve signed up to Monzo Plus, you'll be able to withdraw up to £400 from cash machines abroad in any rolling 30-day period without any fees. After that, we'll charge you 3% of the total amount you withdraw.

Monzo customers who don't have Monzo Plus can withdraw up to £200 for free from cash machines abroad.

Emergency cash abroad, if you need it

You’ll only get this custom feature if you choose to add Travel Money.

If you lose your card or it gets stolen, we can transfer you up to £1,000 within 5 hours for a 5% fee of the amount you ask us for. We can transfer you the money in the local currency of your choice, as long as there's money in your account. You'll need your passport to claim the emergency money we send you.

We'll send the money to you using a cash transfer provider near to where you are. The provider might restrict how much money we can send you depending on where in the world you are.

Monzo Plus insurance providers

Monzo Plus gives you access to insurance products from intermediaries (which means we’re the ‘middleman’). You won’t get advice or recommendations from us about the insurance products available through Monzo Plus. It’s important to check that the cover meets your needs, and the needs of anyone else insured by the policy.

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: 38 Finsbury Square, London, EC2A 1PX.