Going back to free golden tickets

Just before Christmas last year, we started giving people money as a reward for inviting their friends to join Monzo. This was incredibly successful and over the last nine months, hundreds of thousands of people have used it.

I wanted to let you know that we’re planning to move back to the original golden tickets (with no cash reward) later this week and give you an early heads up. Growth is incredibly strong right now (partly because of the TV campaign in June, as well as increasing awareness of Monzo) and running the referral program quickly gets expensive — in July and August, more than 100,000 customers came through it!

We’re very conscious that we want to grow in a controlled manner (especially so we can focus on making customer support and our product as high quality as possible) and this is one of our best tools to moderate that growth. I’m sure we’ll test out some more variations over the coming weeks and months — one idea we have is to give a reward for inviting someone who uses Monzo as their main account (or gets their salary paid in), as well as testing out giving something other than money.

I’d love to hear your ideas here — Robinhood offer people a free share which is quite fun I think. Hope that makes sense and happy to answer any questions you have about it :slight_smile:


Fair enough. :blush::sunflower:

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Monzo Points would be a good reward when/if that comes back.

They can then be redeemable against all sorts of things from sausage rolls to a month of Plus or even metal cards for example.


I think Robinhood’s free shares make sense for them because having the share; gives users a reason to keep their account open, keep checking the app to see how the investment is doing and familiarises people who haven’t invested before with the concept a little bit more.

It’d be great if Monzo could come up with something with those kinds of extra benefits, rather than just a simple cash incentive..although I’m not sure exactly what that would be.


Free Metal Card if you refer more than 10 persons.


yes stopped for the people that were doing the referring

Yes this is different. Neither party will now get a referral fee. The referee stopped getting funds some time ago.

Edit: it’s frustrating when people delete their post rather than editing it


Fair enough I guess.

I like the idea of collecting stamps per referral and working towards things like merch or Monzo Points (should they return).


I would like to see a points system that you get to choose a gift and can keep accruing points to get what you may want - a bit like green shield stamps for the younger generation :slight_smile: don’t quite know how you define the new users use though - salaried or amount put through account etc

T shirt
1 Monzo share
meal for two in local restaurant up to a value when you photo receipt into app
Metal card


…aaaaaaaaannnnddd this is where you could utilise Monzo Points - your own monetary system - however, that has been scrapped for Monzo Plus development :face_vomiting:

I can only really see Monzo Points working as an alternative but its on the shelf so not sure what else would fit.


Would be lovely if the points were backdated for referrals made when it was originally no money. I’ve got 10 referrals like that.


I think this would be an interesting growth tactic. What if everyone who had done 10 or more referrals without being paid got a metal card overnight? And if you referred 10 or more people under the new scheme you would also get one. That would be a fantastic incentive for people to refer who hadn’t done so previously - assuming they want a metal card.

What if it was the ONLY way to get a metal card?

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Except the original golden tickets got you and your friends higher up the X0,000 strong waiting list.

Now you are offering absolutely nothing.


The problem with offering a Metal Card is the RRP for it (from testing) is circa £70-90 so if they are opposed to giving out £5 a referral I doubt they’d be willing to give a £70-90 Metal Card for 10 referrals.

They need something that they can control the relative value of, that doesn’t “cost” them to give out, but still makes the customer feel rewarded… hmmm…

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Agree, not sure the name “golden tickets” really works anymore, removing any incentive just makes it a ‘referral link’.

I have no problem with that but still calling them golden tickets seems redundant when they offer zero benefits.


Maybe rename them “Iron Pyrite Tickets”?

I’m a little confused with this announcement perhaps someone can clarify.

You’re moving referrals back to golden tickets? Ok, what does this give people for referring someone?

I’m a bit confused as it sounds like you’ve just removed referrals all together. In which case why not just say that?

The post literally needs to say:

Hey, we’re getting rid of any referral bonuses for you or the person you refer. If you would like to refer someone to Monzo you can do this by sending them your referral link but there will be no benefits associated with doing this. To save time tell your friend to search for Monzo on the app store and click download


Did Monzo confirm the cost to produce a metal card? I was under the impression it was around £40