Euromillions wins and Monzo

This is a purely hypothetical question but having just watched the news about the couple who one over £100m I wondered if you would or even could still bank with Monzo?

I know that Lotto recommends that you open a private account that I think all the high street banks have or something like a Coutts account. Do Monzo have something similar?

Anyway back to day dreaming about winning £100m…

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Invest invest invest

No private accounts from Monzo I’m afraid (unless they’re super super secret!)

You’ve now made me wonder what I’d do if I won the Euromillions (apart from being confused as I don’t play it).

I’m sure I’d keep my Monzo account. I’d probably ask the lottery people for the name of a good financial advisor, though, and pay myself a monthly (and very healthy) salary to my Monzo account.

Might also call Tom and see if he needs a few quid dollars as investment for the US expansion. (He wouldn’t take my call and it’d make me sad).


You’ve reminded me to buy a Euromillions ticket. I’m bound to win now.

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You only get that if you’re willing to go public about your win otherwise lottery give you hee haw support

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He won’t take your call as he has all that sweet sweet VC money to roll about in his oversize pool 3 storeys below ground.

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Ouch. That’s not very responsible. Bad the Camelot.

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I’m fairly sure you get financial advice/help offered for wins £50,000 and over regardless of wether you choose to go public or not. Unless Camelot have been sneaky with some of their reporting and I’ve misinterpreted it.


I wouldn’t ever go public, people treat you differently as sad as that sounds.

I’d open a private account somewhere to hold the majority of my wealth + invest it.
I’d likely still stick with Monzo for my day to day banking as I love the modern features.


Reminds of this excellent comment on reddit. It goes in depth on hiring lawyers, options for investing, etc. The very first piece of advice is to tell absolutely no one (to begin with). Worth a read for interest, less so for its practical applicability. :smile:


If I won that £115 million I would not tell anyone, no one at all what happened.

Obviously people would start asking where I got the money from to buy a nice house etc. so I’d just say I won £150k or some small amount that has now gone I won’t get the beggars.

Still annoys me that there are such big jackpots. Be better to split it to x amount of winners, all winning ~£1,000,000.


If I recall correctly, can’t you get larger sums paid in like a salary on a monthly basis?

That’s cool! Although depending how much you’ve won wouldn’t it be better to stick it all in an investment or a savings account where you could live off the interest.

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Like an annuity? I believe so, and in the long term I think it works out better that way for you also (unless you’re very old). IIRC this works out better than taking the lump sum and investing it yourself because of tax differences.

Who needs advice? Get 1,000’s and 1,000’s of gold coins delivered to your house and then swim through it like Scrooge McDuck!

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My parents won the lotto and deposited it into santander

This is accurate and you can opt for them to open you an account with a private bank. It used to be coutts

I always find it bizarre that the demand for tickets skyrockets when there is a triple-roller over. As if the prospect of winning a mere £3 million isn’t worth it (statistically it isn’t) but the prospect of winning £15 million is (again, no).