The bacs situation should still apply, as with Lloyds people just send money in and out to meet £2k, same goes for Chase, to get the cash back.
I’d love my Max refunded if it meant going all in. All those free Greggs and cinema ticket also help mitigate the cost, but still 
This is great! 
As with the bills back rewards, it’s a nice thing to offer those who are lucky enough to win.
Good luck everyone, hopefully it’s one of us on here, as that will make a nice post 
Thank you for the information and for building this new reward!
After reading the T&Cs I have a question. It says you may be able to tap on your salary transaction to see if you’ve won, and get it paid immediately. Is this only going to be possible in the month following the month you get paid though (as it says the winners are drawn on the first day of the following month)?
And under what conditions will it be payable immediately rather than in the month after the draw?
Kinda reads like tap your original salary payment and you’ll be able to draw it again, or you’ll just be notified instead.
So people who earn more money win more money 
well done Monzo, really showing how much you care for the well-off in society 
It’s all proportional though, no?
Double money means the same for everyone.
Still less money for those that likely have less. Not massively bothered, but just doesn’t come across too well. Why not just have a standard prize draw where everyone gets the same, rather than benefit those with the most more than others?
While I like free things I’m not sure I’m entirely easy with my bank turning more and more things into a lottery. We’ve got two for the 1p saving challenge, one for bills and one for salary now?
Is there a new product manager with a gambling problem? 
It’s not less, it’s free extra money 
I’ll take yours if you’re upset by it
It will be interesting to see how many people setup their salary to be paid into Monzo now, and move away from treating it like a spending account.
Their bills back rewards must have made it worthwhile to try this kinda thing with salaries 
Not that we’d ever get told any data 
It’s less free money.
Imagine if the National Lottery worked like that. It just doesn’t come across well imo at all.
(Yes, I know the lottery isn’t free but still)
You mean the more tickets I buy the more chances I have of winning more?
Or, that if I won £10, I’d be upset I didn’t win the jackpot?
Yeah, attracting customer by making them think they’ll win money rather than providing competitive rates feels a little underhand.
It must be working for Monzo even if not for most customers.
(edit) I say that as somebody that has won nothing on any of them so far I abandoned the 1p challenge this month, there are much better interest rates for the £500 I had saved, elsewhere. Losing money to inflation wasn’t worth the chance I might win some money
You still win the same amount in the lottery. Even if I bought 1 ticket Vs 10, the jackpot is the same
Yeah, I guess it’s just a different spin on pay your salary in and we’ll reward you £100 that other banks run. The downside to that is that once they’ve claimed their £100, they move again, whereas with this lottery, you’re encouraged to keep it setup.
You can win multiple times. The more tickets I buy, because I earn more, the more chances I have of winning more 
Curious if Monzo have to exclude people with gambling blocks from these lotteries. The more I think about this the less comfortable I am
Good point. Although there is no cost to it, and nothing to lose, so maybe it isn’t classed as gambling?
Yep. On the face of it, it seems great, but just seems a bit icky if you think about it.
Yeah, you’re probably right but I’d imagine people with gambling problems might pick Monzo for banking because they might be able to win something rather than because it was the best financial decision.
While probably technically ok I’m not sure I like it.
I just hope no other bank follow Monzo down this path.