Loyalty Account

You will have to bear with me as I ramble a little bit - this is hard to explain and be clear. I have tried explaining this idea before.

So the idea is to have an account that someone will pay £2 per month for. Now that money now gets split up into three categories

  1. A winning contribution (say £1). This is sort of lie a lottery except (dependent on how many people have an account) the money is randomly allocated as winnings of something like £250 - £500 pounds each. So if you had 20,000 accounts you would have £20,000 that could be split into (say £250 pots) so 80 random people could wn £250 towards savings or bills. (This is done every month.)

  2. A charity contribution (say 50p). Teaming up with a handful of charities would allow any user could then choose from a list which they would like their contributions to go to.

  3. The remaining (in this example 50p) would go towards running costs.

The main idea is that it is a low amount so that people aren’t put off and it taps into the “lottery effect” just with less money and more chance of winning.

Obviously any numbers used in this example are ust nominal - I’m sure someone could do a proper analysis and work out the sweet spots.

Sorry but this is a Bank not a lotto
can we vote down as well as up?


Agreed. I’d instantly close my account if they put anything like this lottery idea in the app.


Sorry, forgot we only do serious banking around here.

I said “lottery effect” not “lottery” as that implies a jackpot. Suppose you would argue it’s not a raffle then…

It’s a way of raising money for charity and also at the same time adding an incentive. It is a good way to make something different to traditional serious (boring) banking and attract more customers.

Maybe add a widget that shows what your money looks like in another currency if you prefer. Really handy for the serious banking types.

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You would have to opt in! Why would anyone force that on you! Just don’t open one if it was offered…

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You can call it a ‘lottery effect’ if you want, but what you described is the lottery.


Sort of, but I would still say it is more of a raffle or sweepstake…

Those are lotteries.


Fine, bonds, premium bonds, lottery, raffle, sweepstake, random account picker… whatever. They all tap into what is known as the “lottery effect”.

Oh well, worth a shot. I know I would like that sort of conveniently tied to a single app…

I’m not sure it would be a good look for a bank, especially one that is progressive in allowing the blocking of gambling transactions, to then incorporate gambling in to their offering.

They can incorporate the charity aspect just by allowing ‘round ups’ to go to charity.



Never ever want to see anything like this introduced to a banking app/service. Has no place being there.


Isn’t this technically a Ponzi scheme?

Gosh… Not a popular idea then. You’d have thought I shot some people’s cats!

No one has been rude :man_shrugging:

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Well Premium bonds are lottery based but bonds (including James) aren’t.

Nutriboom being a pyramid scheme but this does the job so yeah, boom, boom.

I have a problem with Monzo giving to charity on behalf of customers. This isn’t a problem which needs a solution – it’s perfectly easy to give to any charity already, without a third party (Monzo) getting in the way.

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But… Why?

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So no lottery loyalty charity account then just dont shoot the cats :cat2:

Sounds like a fun idea but don’t think it should be offered by Monzo. If only Monzo had a marketplace where these sort of things could be setup, that would be awesome