Credit & Debit Cards

Monzo Referral Code

Monzo actually doesn’t offer a bonus anymore for signing up as they have over 3 million customers. You do however need a Monzo referral code at times to sign up which you get here. It’s called a golden ticket, and I recall being on a waiting list of 20,000+ at one point, but was booted up to the top of the list because I used a friend’s Monzo referral code.

Monzo has managed to achieve a cult-like status amongst its users but it had the distinct advantage of being one of the first to break the mold from high street banks, gaining lots of exposure and a following for that reason.

What’s Good About Monzo?

I’ve been using Monzo for around 4 years now and what I like about it is the simplicity and ease of sending money over to friends. I like the spending breakdown tools they offer and their customer service and automation of many aspects of the service is spot on. They have a small army of staff manning their live chat service, which in my opinion is miles better than any customer service you can get from a call centre set up.

The Monzo staff are polite and intelligent and know how to do their job well. I’ve had a few instances where I’ve been incorrectly charged by a service (Cambodia Air charging me 3 times for one flight!) and I was able to get my money in minutes.

Monzo also offer really affordable short and long term loans and overdrafts for if you need a little extra help at times. You can also borrow up to £16k through their competitively priced % APR loans which can be approved in hours if you can provide all the required details.

Anything bad about Monzo?

The one thing I would say is that they’ve never actually made a profit. They have been propped up by angel investors and series funding since the beginning. With the hope that Monzo will continue to expand at the rate that it has been doing. It saddens me to say this though, as Monzo actually offers a fantastic service, and is always honest, upfront, and ever-improving. Unlike most high street banks.

It does slightly concern me as to how long the investors will let this go on for, given that they have recently laid off workers for the first time and closed their Las Vegas offices. For this reason, I only use my Monzo account for small day to day transactions and use it as a secondary current account. Whilst Monzo are regulated and part of the FSCS scheme protecting you if they went bust, I imagine it would be a massive headache to get your money back if they did.

You have to consider, do you really want the majority of your cash caught up in that, vs high street banks that make healthy profits.

If you liked this I’d also recommend checking out Monese too, who offer a similar service and a sign up bonus.

Leave a comment below if it all worked okay. Follow me or send a direct message @ReferralGuyUK on twitter for hundreds more referral codes and message if you want to check that you’ve got the best deal.

Be sure to check the Most Popular referral codes for all the best deals. Also offers change from time to time so let me know if you’ve spotted an offer which has changed and I’ll update it. Much appreciated.

There’s lots of variations for how people search for refer a friend codes, some call them promo codes or promotional codes, voucher or discount codes, coupons in the U.S, or even refferal codes if they have misspelled.

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