Monzo Bank: Free £5 For New Users

 

If you sign up to Monzo via my referral link you will receive £5 for free after you use your Monzo card to purchase for the first time (must be within 30 days)! If you're not just interested in the free cash, read a little more below about my experience using this bank.

I've been using Monzo for quite a few years now, they're a digital bank with no branches so they pass on those savings to you by offering things like fee free use abroad and cashback offers at specific shops. But as they're a registered bank your money is well protected, much more so than if you use a prepaid travel card whilst abroad.

I like to use them for their savings pots so i'm not tempted to dip into them, it keeps the money nice and separate with a label for what i'm saving for in each pot, you can also password protect and lock them to make sure you don't dip in! 

I also use Monzo while i'm travelling as they don't charge fees for use abroad, and i'm going to try out their investment opportunity this year - you only need £1 to start investing and there are 3 investment risk options to choose from. 

They also offer the standard bank account options like overdrafts, loans, and even Monzo Flex, which works similar to Klarna and they make it super easy to split the bill with your friends if you've all gone out for dinner together.