Monzo referral code: up to £50 sign-up bonus

No. Monzo doesn't ask for a code. Your invite is linked to you when you open the invite link and enter your phone number. The short code in our link (s93d879r) is just the ID of our invite, so you'll see it in the web address.

That's why the order matters: open the link first, then download the app. If you already downloaded the app and started an application without the link, Monzo counts you as a normal sign-up.

Monzo picks the reward at random for each referral: 94 out of 100 people get £10, 5 get £20 and 1 gets £50. You and the person who invited you always get the same amount. You'll see yours in the app when the referral is complete.

Most UK code sites print “up to £50” and stop there. We add Monzo's own odds: £10 for 94 people in 100, £20 for 5 and £50 for 1. Monzo can also run short limited-time offers with a different reward. If one is running, you'll see it on the invite page when you open the link.

Monzo's terms say the referral is complete once you've opened your account, added money and made a qualifying card payment, and that the reward is shown in the app at that point. Monzo doesn't promise an exact time. If it hasn't appeared after a few days, check the list below, then use the chat in the app.

The standard Monzo account has no monthly fee. You get instant notifications when you spend, up to 20 Pots to set money aside, and your salary one business day early (from 4pm) if you're paid by Bacs. Monzo's Instant Access savings paid 2.75% AER (variable) on the free plan when we checked, and that rate can change.

Monzo doesn't charge fees on card payments abroad and passes on Mastercard's exchange rate. Cash withdrawals are free up to £400 every 30 days in the UK and EEA, and up to £200 every 30 days outside the EEA; after that Monzo charges 3%. If at least £500 has been paid into your Monzo account in the last 35 days and you have an active Direct Debit, EEA withdrawals have no limit. Paying in cash at a PayPoint or Post Office costs £1 per deposit.

16 and 17 year olds can open their own Monzo account, with spending on things like gambling blocked. Joint accounts are for UK residents aged 18 and over, and both people need their own Monzo account.

Yes. Monzo's personal referral terms let the person you invite open a current account or a business account. Monzo Business Lite is free, Pro costs £9 a month (the first month is free) and Team starts from £25 a month. Only sole traders and limited company directors in the UK can apply.

Monzo also runs a separate Business Banking Referral Scheme for people who already hold a Monzo business account. Under it, the usual reward is £50 each when the new customer opens a business account, or £10 each for a current account, with up to 3 rewards a month for the referrer. Which scheme applies depends on the accounts held by the person who invites you, so check the reward shown on the invite page.

Monzo was founded in early 2015 in London and became a regulated bank in August 2016. Its 2026 annual report says it had 15.2 million personal customers and about 905,000 business customers on 31 March 2026.

Monzo Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA (register number 730427). Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person.