New to Monzo Plus: interest on your money and exclusive discounts 🎈

We’re ticking the first two things off the Monzo Plus roadmap today. You can now earn interest on your balance, and get exclusive offers and discounts :money_with_wings::shopping:

33 Likes

10% off hotels.com… just made a booking there last week haha. Noo.

But yeah loving the direction Plus is going in. I will move more money to my Monzo account now because of the interest you can gain.

3 Likes

Now we’re starting to get there. :slight_smile:

Not quite at the tipping point for me, but liking the changes.

4 Likes

Will there be interest earned details as there is now with Savings pots?

1 Like

Are the offers compatible with cashback sites, or do they work like referral links, so must be done through monzo?

This seems to be the relevant screenshot:

5 Likes

Where is that?

In the blog post.

1 Like

Looks great, when will the offers go live in the App, still no way to set them up

2 Likes

I can’t see them either. The blog post says they should be there if you go to profile -> Monzo Plus -> Manage though, as long as you’re on the latest version of the app. :thinking:

The offers should appear in the app later todayβ€”we’re working on adding them to all the existing Plustomer accounts as we speak :slight_smile:

13 Likes

I thought it was live in the app and I was going to say I cant see it anywhere :see_no_evil:

For those pondering: 1.5% APR means you would need a balance of a little over Β£4800 to pay the Β£6 a month charge. As the interest is limited to Β£4000 of your balance, this is not possible.

27 Likes

Once it’s added to all Plustomer accounts, it’ll look just like this screenshot, right at the top of your β€œWhat’s included” section :smiley:

1 Like

That’s what I was looking for, thanks. Not worth it for me then as I wont’ likely use the other features.

2 Likes

What it does mean though, is it’s basically Β£5 a month in interest with Β£4000 kept in, making the bare Monzo Plus a measly Β£1 a month, and Β£2 profit for those on the early bird offer. :slight_smile:

5 Likes

It says you can opt out of interest in app? Where will that be based?

1 Like

So… it now makes sense to always leave Β£4000 in your main account, rather than pots, right? 1.5% is higher than anything else Monzo have? Or is it just higher than the easy access stuff?

3 Likes

Will the interest be available for money in a joint account? I suspect not :unamused:

2 Likes

Higher than easy access, so make flexible pots worthless (unless ISA for tax reasons)