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Monzo's business referral scheme: what version 2.0 of the terms says
By Chris ·
Monzo updated its business referral terms on 13 August 2026. The reward is still £50 each side, the monthly limit is 3 rewards a month, and anyone who has had a Monzo account before is excluded.
Monzo's business referral terms were republished as version 2.0, 13 August 2026. A lot of pages about the Monzo Business bonus still describe older rules, so here is what the current version actually says, and what has dropped out.
The reward
When someone opens a Monzo Business account through a referral link and completes the steps, the person who referred them and the new customer each get £50. It applies to any Monzo Business plan, including free Lite. Monzo says it may sometimes offer more, and the amount shown in the app is the one that counts.
The steps
Within 30 days of entering your mobile number after opening the link, you need to download the app, apply, add money and make a first card payment. The payment must be a card payment of any amount, online or in person (Apple Pay and Google Pay count). ATM withdrawals, bank transfers and virtual-card payments do not count.
Who is excluded
The rule that catches most people: if you have ever opened a Monzo account of any kind before, including a personal or joint account, neither side gets the reward. Existing Monzo customers can still add a business account from the app, they just cannot get the bonus for it.
The monthly limit
Each referrer can earn 3 rewards a month. Once a referrer has reached it, further sign-ups through their link that month earn nothing for either side, and the count resets on the 1st. An older version of the terms also limited how many people a link could be shared with each month. That rule is not in version 2.0.
What it means for you
If you have never had Monzo, the bonus is straightforward: open the link on the phone you will sign up on, finish the application, add some money and buy something with the card. If you are not sure whether you qualify, our five-question bonus checker will tell you, and the Monzo Business referral page covers every step and the reasons a reward can fail to arrive. We earn the same reward when you use our link, as explained on how we make money.
Evergreen guide: Monzo Business referral code: it's a link, and it's worth £50
Sources
Checked 9 October 2026.
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- Referral link (£50)How the Monzo Business referral works in 2026: the £50 reward, the four steps to qualify within 30 days, who is excluded and why the bonus sometimes does not arrive.
- ReviewA first-hand Monzo Business review from a UK limited company: the app, tax pots, savings, team features, fees and the honest downsides.
- Best accountsThe best UK business bank accounts compared on fees, FSCS protection, features and eligibility, with a clear view of who should choose something other than our pick.
- ToolsFree tools for UK business banking: check whether you qualify for the Monzo Business £50, pick a plan, estimate your annual banking costs and work out tax to set aside.