Monzo has unveiled a novel banking feature that offers customers the opportunity to potentially double their monthly salary. This innovative service, known as Double Payday, requires individuals to have their salary deposited into their Monzo account. Each month, Monzo will select ten customers at random to have their salary doubled, tax-free. The maximum amount that can be doubled is £10,000, meaning if a customer’s take-home pay exceeds that threshold, they will receive £10,000 from Monzo.
To qualify for the Double Payday promotion, customers must have their salary deposited via BACS into their Monzo account by the end of the calendar month. The initiative is set to launch on December 8, 2025. Richard Cadman, Senior Product Director at Monzo, expressed excitement about the new feature, emphasizing the company’s commitment to enhancing customer experience and offering unique benefits like Double Payday.
In addition to Double Payday, Monzo has introduced other convenient features for its customers. The bank recently rolled out Monzo Flex, a credit card feature that enables users to split the cost of purchases over time. Customers can choose to divide eligible purchases into interest-free monthly installments or opt for longer repayment periods with interest. Previously, users of the Monzo Flex credit card had to pay the full amount upfront and then request to spread the cost through the app. Now, this functionality has been expanded to allow for in-store purchases as well as online transactions.
Alongside these new offerings, Monzo continues to provide value to its customers through services like getting paid early and salary sorting features. These initiatives underscore Monzo’s commitment to offering innovative banking solutions that cater to the evolving needs of its user base.
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