Why Upgrade?

We’ve just invited all our users to upgrade their Monzo accounts, and over recent weeks many of you have been asking what makes upgrading better than sticking with your old card.

There are a bunch of benefits that come with upgrading your account, as well as all the familiar features.

The main difference is that you’ll get an account number and sort code, so you can set up Direct Debits and standing orders, make bank transfers and get your salary paid straight in. Plus you’ll have access to features only available on upgraded accounts, like Android Pay and Pots!

What stays the same is that you’ll still have access to Monzo-to-Monzo payments, instant spending notifications, built-in budgeting, and be able to top up your account from another debit card.

If you want, you can continue to use your new, upgraded Monzo debit card in exactly the same way as your existing prepaid card: add money to it every week, spend until £0, then top it up again. We won’t charge you any fees, and an overdraft is totally optional.

Feature	Your existing prepaid Monzo card	A new, upgraded Monzo account
Sort code and account number	🚫	✅
Bank transfers to other banks	🚫	✅
Pots	🚫	✅
Monzo-built, more reliable payment processor	🚫	✅
Direct Debit support	🚫	✅
Receive salary/pay rent	🚫	✅
FSCS protection up to £85,000	🚫	✅
24/7 customer support	🚫	✅
A full UK bank account	🚫	✅
Android Pay	🚫	✅
Overdrafts	🚫	Optional
Affects credit score	🚫	🚫
Charges for bouncing payments	🚫	🚫
Top up from another bank card	✅	✅
Monzo-to-Monzo payments	✅	✅
Targets	✅	✅
Monzo.me	✅	✅

To upgrade, simply tap the invitation you’ll see in your app. It only takes a few minutes and we’ll put your new hot coral debit card in the post. Your existing card will continue to work in the meantime, and your new one will arrive in a day or two!

If there’s anything you aren’t sure about, or you have questions or feedback, please let us know on the community forum or tell us on Twitter 🙂