There is also this thread: Can you stop being desperate with the £10 referral bonus?
129 replies in one day, most of them annoyed with three mentions of a referral bonus. Could you imagine the reaction to targeted advertisements?
I don’t mind Monzo using data that I provide them (plus my credit report) to target me with services they provide (i.e. notice i spend money at National Lottery so remind me that gambling block is a thing) but anything more than that is a no from me.