Monzo remains one of the UK’s most popular digital banks, and its referral programme is a simple way to earn extra cash. In 2026, the Monzo refer-a-friend bonus can put up to £50 in your pocket for every friend who joins and meets the requirements. This complete guide covers everything: current bonus amounts, step‑by‑step eligibility, how to track your referrals, and where to share your link without breaking platform rules.
Whether you’re a long‑time Monzo user or just signed up, this guide will help you maximise your referral earnings – and avoid common pitfalls that can delay or cancel your bonus.
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📋 Table of Contents
- 1. How Much Is the Monzo Referral Bonus in 2026?
- 2. Eligibility: Who Can Refer and Who Can Be Referred?
- 3. How the Monzo Referral Process Works (Step by Step)
- 4. Trigger Conditions: What Your Friend Must Do to Unlock the Bonus
- 5. Where to Share Your Monzo Referral Link (Safely & Effectively)
- 6. Tracking Your Referrals and Bonus Payments
- 7. Tax Implications: Is the Referral Bonus Taxable?
- 8. Monzo vs Other UK Bank Referral Bonuses (Chase, Halifax, Starling)
- 9. Common Mistakes That Invalidate Your Bonus
- 10. Frequently Asked Questions
How Much Is the Monzo Referral Bonus in 2026?
As of early 2026, Monzo’s standard refer‑a‑friend bonus is £50 for you and £50 for your friend – a total of £100 per successful referral. This is an increase from previous years and reflects Monzo’s push to grow its user base through trusted recommendations.
💡 Bonus Breakdown:
- Your reward: £50 credited to your Monzo account.
- Friend’s reward: £50 credited after they complete the qualifying actions.
- No cap: Unlike some banks, Monzo does not limit how many friends you can refer – you can earn unlimited bonuses.
Occasionally Monzo runs limited‑time promotions where the bonus may be higher (e.g., £75 each), but the standard rate is £50. Always check the referral section in your Monzo app for the most up‑to‑date offer, as terms can change.
Eligibility: Who Can Refer and Who Can Be Referred?
Not everyone can participate. Monzo has clear eligibility rules to prevent abuse and ensure only genuine new customers get the bonus.
To be eligible as a referrer:
- You must be a Monzo customer with an active personal account (current account).
- Your account must be in good standing – not overdrawn, blocked, or under review.
- You can only refer friends who are new to Monzo and have never held a Monzo account before.
To be eligible as a referred friend:
- Must be a UK resident aged 18 or over.
- Must never have had a Monzo account (including joint accounts).
- Must sign up using your unique referral link and complete the required actions (see next section).
⚠️ Important Restrictions:
You cannot refer yourself using another email or family member’s details – Monzo’s fraud detection will flag multiple referrals from the same IP or device, and bonuses will be withheld. Also, if your friend already started the sign‑up process without using your link, they cannot be retroactively referred.
How the Monzo Referral Process Works (Step by Step)
The process is designed to be simple and entirely app‑based. Here’s exactly what you and your friend need to do:
Get Your Unique Referral Link
Open your Monzo app, go to the “Refer a friend” section (usually under Account or Settings). Tap “Share your link” – you can copy it, send it via WhatsApp, iMessage, email, or share it on social media.
Friend Clicks and Downloads
Your friend clicks your link, which takes them to the Monzo sign‑up page. They download the Monzo app and enter their details. The referral is automatically tracked if they sign up within the cookie window (usually 30 days).
Friend Completes ID Verification
To open a Monzo account, your friend must verify their identity (passport or driving licence) and possibly record a short video. This is standard for all new accounts.
Friend Meets the Trigger Conditions
After the account is open, your friend must complete specific actions to release both bonuses. Typically this means making a first deposit and using the card.
Bonuses Are Paid
Once the conditions are met, both you and your friend receive £50 each. The money usually appears within a few days, directly in your Monzo balance.
Trigger Conditions: What Your Friend Must Do to Unlock the Bonus
Simply signing up is not enough. Monzo requires the referred friend to activate the account and use it. As of 2026, the typical requirements are:
- Deposit at least £1 – some users report needing to deposit £1 or more, but to be safe, a deposit of £10–£20 is recommended.
- Make a card payment – the friend must use their Monzo card (or Google/Apple Pay) to make at least one purchase. It can be any amount, even a small coffee.
- Both actions must be completed within 30 days of account opening.
Occasionally Monzo may add an extra step, such as setting up a direct debit or using the “Monzo Plus” trial – always check the terms inside the app when you share your link.
🎯 Pro Tip:
Tell your friend to deposit £20 and buy a coffee with the card on the same day. This covers both requirements and ensures the bonus is triggered quickly.
Where to Share Your Monzo Referral Link (Safely & Effectively)
Getting your link in front of the right people is key to earning multiple bonuses. Here are the best places to share, along with tips to avoid being banned or ignored.
1. Social Media (Twitter, Facebook, Instagram)
- Twitter: Tweet your link with a short personal story – e.g., “I’ve been using Monzo for 2 years and love it; here’s a link for £50 free.” Use relevant hashtags like #Monzo #Referral #UK.
- Facebook: Share in personal posts or local community groups (where allowed). Avoid spamming groups with only referral links; provide value first.
- Instagram: Use Stories with a “link sticker” (if you have enough followers) or put the link in your bio. You can also create a dedicated highlight.
2. Referral Forums and Cashback Sites
- Reddit: Subreddits like r/beermoneyuk and r/UKReferrals are specifically for sharing referral links. Always read the rules and post in the dedicated megathreads.
- MoneySavingExpert Forums: The “Referrers” board is a popular place to post UK bank referral links. Be active and follow the forum etiquette.
- HotUKDeals: They have a referral section where you can post, but do not spam deals.
3. WhatsApp and Messaging Apps
Personal messages to friends and family often convert best. Explain the benefit – “Hey, if you sign up for Monzo using my link, we both get £50. It takes 5 minutes.”
4. Your Own Blog or Website
If you have a blog or website, write a short review of Monzo and include your referral link. Make sure you comply with the site’s terms and add a disclosure.
⚠️ Avoid These Places:
- Public Facebook groups that ban referral links – you may be reported and banned.
- Posting the same link repeatedly in forums (spam).
- Using link shorteners that hide the destination – some platforms may block them.
Tracking Your Referrals and Bonus Payments
Monzo makes it easy to see how many friends have signed up and whether you’ve earned the bonus. In the app, go to “Refer a friend” and you’ll see a list of people who clicked your link, their status (e.g., “Signed up”, “Bonus pending”, “Bonus paid”).
If a friend has completed the requirements but the bonus hasn’t appeared after a week, contact Monzo support via in‑app chat. They can check if the conditions were met.
Tax Implications: Is the Referral Bonus Taxable?
In the UK, referral bonuses are generally considered taxable income by HMRC, especially if you earn them regularly or in large amounts. However, small amounts earned casually may fall under the trading allowance (£1,000 per year) and not need to be declared.
If your total referral income (from all sources) exceeds £1,000 in a tax year, you must register as self‑employed and file a Self Assessment tax return. Even below £1,000, you don’t need to declare, but keep records in case HMRC asks.
📌 Key Points:
- Referral bonuses are not “gifts” – they are income for referring.
- If you earn more than £1,000 in a tax year, you must pay Income Tax and National Insurance on the profit.
- You can deduct any expenses directly related to earning the referrals (e.g., cost of promoting your link, but that’s rare).
Monzo vs Other UK Bank Referral Bonuses (2026)
Monzo is not the only bank offering referral rewards. Here’s how it stacks up against competitors:
| Bank | Bonus Per Referral | Requirements | Notes |
|---|---|---|---|
| Monzo | £50 + £50 | Deposit £1, make a card payment | Unlimited referrals |
| Chase UK | £20 + £20 | Deposit £20, make 3 card payments | Usually limited‑time offers |
| Starling Bank | £15 + £15 | Deposit and spend within 30 days | Sometimes higher in promotions |
| Halifax | £25 + £25 | Switch current account using CASS | Harder to qualify (full switch required) |
| Nationwide | £100 + £100 | Full switch with two direct debits | High but requires switching, not just sign‑up |
Monzo offers a good balance: easy requirements and a decent bonus. It’s especially appealing because you don’t need to switch your main bank account.
Common Mistakes That Invalidate Your Bonus
Even if your friend signs up, you might not get paid if you make these errors:
- Referring someone who already has a Monzo account: The system will detect this and no bonus will be paid.
- Sharing your link publicly without a clear call‑to‑action: People might click but not complete the sign‑up.
- Friend doesn’t complete the required actions within 30 days: Remind them! A quick text can secure your £50.
- Using the link yourself or trying to game the system: Monzo’s anti‑fraud team will detect this and could close your account.
- Posting in places where referral links are banned: Your link may be deleted, and you could be banned from the community.
Frequently Asked Questions
No. The referred friend must be a UK resident with a valid UK address and ID. Monzo accounts are only available to UK residents.
Once your friend completes the deposit and card payment, the bonus usually appears within 1‑5 working days. You’ll get a notification in the app.
Yes, as long as they are a real person and haven’t had a Monzo account before. However, if multiple people from the same IP address sign up, Monzo may flag it for manual review – but legitimate referrals are usually fine.
Unfortunately, the referral must be made via the unique link. If your friend signs up directly, the referral is not tracked. They would need to close the account (if possible) and re‑sign using your link, but that’s messy – better to ensure they use the link from the start.
There’s no requirement to keep the account open for a minimum period. However, Monzo may reverse the bonus if they detect fraudulent behaviour or if the account is closed immediately after receiving the bonus (though this is rare).
The trading allowance is £1,000 per tax year across all self‑employed income. If you exceed that, you must register and pay tax on the profit. There’s no special exemption for referral bonuses.
💰 Monzo Referral Bonus Calculator
See how much you could earn by referring friends.
Start Earning with Monzo Referrals Today
The Monzo referral bonus in 2026 is one of the most straightforward ways to earn extra cash – no complicated switching, just a simple deposit and card use. With a potential £50 per friend, and unlimited referrals, your earnings can quickly add up.
Remember to share your link responsibly, remind your friends to complete the actions, and keep track of your bonuses in the app. And if you’re new to Monzo, ask a friend for their link – you’ll get £50 too!
🚀 Ready to start?
Open your Monzo app, find your referral link, and start sharing. For more ways to make money online, check out our related guides below.