Introducing Monzo Flex – a better way to pay later 🚀

Hey folks :wave:

No Theo today I’m afraid, so you’re stuck with me! I’ve recently joined Monzo as a product marketer working on Flex.

We’ve been listening to your feedback, and (as you already worked out a while ago!) we’re looking at starting to taking the first instalment later. So last week we launched a test with a small number of people who have Flex.

Before we can roll it out to everyone, though, we need to make sure it works as intended… hence the test.

Of course, as with all of these things, there is a chance that this feature never makes it to all of our Flex customers if we can’t quite make it work – but we’re hopeful it will.

We finished rolling out the test at the end of last week. We’ll be testing for a few weeks to make sure everything runs smoothly. And if we can roll it out to everyone, we’ll let you know :crossed_fingers:


Really awesome to hear!!

Does this work with debit card transactions flexed later too?

Can I opt into the test? :eyes:

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Yep, it works all new flexed purchases, whether virtual card or debit card transactions flexed later :tada:

But I’m afraid we can’t invite anyone else to the test this time


I’m not quite sure I invest l understand the copy in @rickyzalman’s email.

Is it only if you flex within 14 days of your payment date that it’s delayed? What if it’s before 14 days? Is that taken instantly as normal?

It’s always delayed to your instalment date.

HOWEVER. That first payment won’t be taken if it’s within 14 days of your repayment date, and will skip to the next one (ie. ~6 weeks away)


These changes are nice. But is the choice of plan also delayed for virtual card transactions? Or does one still have to pick a plan within less than 48h window?

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The choice of the plan wouldn’t change I’d imagine because they’ll have to start charging you interest? :person_shrugging:


So that I understand this, if my payment date was on say 5th September, and I were to flex a payment of £99 today (assume pay in 3 instalments) would the first payment then be taken on the 5th Sep rather than today?

Sorry - just got flex today so wanted to clarify

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At the moment, the first payment is taken instantly, then monthly on the payment date. If the transaction is less than 14 days before the payment date, then the second instalment will be deferred for a month

Once (and if) this rolls out, people will be able to opt not to be charged the first instalment instantly. The first instalment will instead be taken on the next payment date, and then monthly afterwards. If the payment date is less than 2 weeks away from the transaction date, then the first instalment would be deferred for a month


Thanks - if the transaction is more than 15 days before the payment date - what happens then?

If 15+ days before the payment date, then currently the first payment is taken instantly, and then the next payment on your payment day.


Then currently you get charged the first instalment when you make the transaction, and the second instalment on the payment date

They don’t have to charge interest on the first 14 days. With debit transactions there is full payment taken and no interest for 14 days, then one can switch to interest bearing instalments.

With flex virtual card one has under 48h before one switches to interest bearing instalments.

Other providers do delay both the payment plan choice and interest bearing until later.

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Brilliant, I was holding onto PayPal credit for this very reason so hopefully this makes it through testing! Keep listening and plugging those gaps and we’ll all be very happy spenders!

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Also, where are our manners? Welcome to Monzo and to the Community @TomMills!

We’re not exclusive around here, so we can love you and Theo at the same time!


The best part of this for me would be effectively pushing it into 4 payments, if my logic is right.

My payment date is 23rd

If I bought something for £99 today, I’d pay £33 now, £33 on 23rd Sept and £99 23rd Oct.

But if the changes reach everyone, I’d skip that £33 today, next payment would be 23rd Sept.

If I put £25 in a pot now, and then the same before the other dates, I’ve split it into 4 instead of 3.

Lovely stuff!


Yea. Basically becomes 3.5 months (at most) of payment time.

I’m going to pay 2x £3? I know it’s saying that as the first payment is £3, I just found it funny

Would there be a world where the user could pick which type of Flex model they use (Pay installment 1 now, or Later?)

As I assume then this will also affect how much interest a user pays if they Flex over 12 months?

e.g. you can have up to 45 days longer bearing interest than if you pay instantly, so the interest due will be different?

(Love it for the Pay in 3 though :D)



I like paying the first instalment now because it forces me to properly evaluate if I can afford it for the subsequent months.