500 a month?

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What’s that supposed to mean?

And the actual blog post here

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I got mine the same day as the blog post have you checked spam just in case it’s sat waiting for you

So if I don’t plan on taking any cash withdrawals from my account I don’t need to put 500 in every month?

That is correct

Thank you
Is there a minimum amount you have to put into the account every month?

There is no minimum you must add to your account. You can leave it alone for months at a time if you like.


No fee up to £250,
3% after that that’s UK cash machines there’s a table on the blog with the info on, and you can put whatever amount in you wish just be aware anything less than the limit of £500 and no direct debits will trigger fees around various actions in the specified table

Just warning you, it’s not a very good savings account, but you don’t need to put any specific amount in per month.

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Oh thank you! (Not really a savings more for ins and outgoings for a cards I make and sell :slight_smile: )

You might want to be careful with that if you’re technically using it as a business account, check the terms and conditions if it’s a bog standard current account you have as I can’t recall if it’s against the terms or not and I’ve not the energy to look now as I really need to go to bed

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Strangely coincidental, I posted the reference to the T&C’s regarding the use of a Personal Account for business use in another thread earlier today;

Monzo has been active on shutting down such instances (well, according to reports on the forum)


Thank you everyone


Yes, checked everywhere. The only announcement I got from Monzo in the past year+ was the announcement of Monzo Plus v3. Changes to terms never get to me…

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Just out of curiosity, where did you get the £500 figure from?

It’s one of the points which determine if you are a ‘regular’ Monzo user or not - from the blog post;

"If you rely on Monzo more, you’ll get bigger allowances
We thought about all the different types of people using and relying on Monzo regularly, and tried to be as generous as we can with our definitions. We think that if you’re doing at least one of the following, it’s likely that you’re relying on us as a main bank of yours:

  • Paying in at least £500 every 35 days to a Monzo account and have at least one active Direct Debit on that same account, or
  • Getting a Department for Work and Pensions or Department for Communities’ payment (like Universal Credit or a state pension) into a Monzo account every 35 days
  • Getting your student loan paid into a Monzo account every 8 months
  • Sharing a Monzo Joint Account with someone who does one of the above

If you’re meeting at least one of these criteria, you won’t need to do anything to get bigger allowances, we’ll do this automatically for you."

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And just to be clear , you dont need to pay any set amount in to your account weekly , monthly or yearly, and the account will remain entirely without fees as long as you dont continually withdraw cash , home or abroad , or continually order replacement cards - above the limits allowed .

The fees have been introduced to discourage this sort of behaviour from some users , they don’t apply if you dont have the behaviour .

You may need to look at a free business account ( business lite) if you are using your account to run your business though as that would be against the T and Cs of Monzo current accounts.


This :point_up_2:

We’ve had people report that their account and money has suddenly been frozen and it can take upto a week (if not longer) to resolve.

It’s not a good situation to be where you don’t have any access to money and it could happen at any time without warning. So personally I wouldn’t risk it. Business accounts are free so you may as well open one now to save the hassle of switching later.


Thank you!! You have all been loads of help!