Other banks have already announced their 0.25% increase, but Monzo is stuck on 1.6% at the moment.
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Monzo needs to make money. Banks don’t have to follow the base rate.
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Just got an email saying that they increase the rate from 1.60% to 1.80%!
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I’d give it a little time. Banks don’t always pass ECB rate changes on immediately, and some take a few weeks to update their savings rates. Hopefully Monzo will announce whether they’re increasing the rate soon.
Did you read the post above yours?