Open a new Monzo Business account through the invitation, add some money and make a card purchase within 30 days to receive a £50 bonus. This invitation is currently restricted to UK sole traders, limited company directors and landlords.

How to get the Monzo Business referral bonus

  1. Open the invitation.

    Enter your mobile number on the referral page.

  2. Apply in the app.

    Complete Monzo’s identity and business eligibility checks.

  3. Add money.

    Transfer a small amount into the new business account.

  4. Make a card payment.

    Buy something normally within 30 days. Cash withdrawals, money transfers and virtual card transactions do not count.

  5. Check the bonus.

    The £50 should appear after the eligible payment completes.

Useful Monzo Business features

  • FSCS protection on eligible deposits, up to £120,000.
  • Multiple ways to get paid: cheques, cash, in-person, online and contactless, plus payment terminals, payment links, QR codes and invoices.
  • Direct connections to Xero, FreeAgent, Sage and QuickBooks for bookkeeping.
  • Expense cards for your team, with approval limits on payments over a set amount.
  • Overdrafts and loans for eligible sole traders.
  • Interest on spare money in savings, currently up to 1.30% AER (variable), paid monthly with no minimum deposit.

Who can apply for this invitation

This invitation currently states that only UK sole traders, limited company directors, or landlords can apply. Monzo’s business referral scheme also allows a maximum of three referral rewards per calendar month for the referrer, resetting on the 1st of the following month.

Monzo separately runs a variable personal-account referral scheme. Most eligible new customers currently receive £10, with smaller chances of £20 or £50. See our personal Monzo referral-link guide for the current allocation and the normal-account invitation.

Do you need to switch banks?

No. This is an account-opening referral, not a Current Account Switch Service bonus. You can keep your existing business or personal bank account. Opening an account may involve eligibility and credit checks, so apply only if you want the account itself.

Pros

  • £50 after one normal card purchase.
  • No stated minimum spend.
  • Free business account available.
  • Bookkeeping integrations and expense cards included.

Cons

  • Restricted to sole traders, company directors and landlords.
  • Application and eligibility checks are not guaranteed to pass.
  • The card payment must be made within 30 days.
  • Referral rewards for the referrer are capped at 3 per calendar month.

Monzo Business questions

What purchase counts for the £50?
A normal Monzo Business card payment within 30 days. The invitation excludes ATM withdrawals, money transfers and virtual card transactions, and does not state a minimum amount.
Can a previous Monzo customer qualify?
No. The referral terms say anyone who has previously opened a Monzo account is not eligible.
Is money in Monzo Business protected?
Eligible deposits are protected by the Financial Services Compensation Scheme up to its current limit. Monzo currently states £120,000 per eligible person.
Do I need a paid Monzo plan?
No. The referral does not require a paid plan; the free Monzo Business account can qualify if your application is approved.
What if I'm not a sole trader, director or landlord?
This particular invitation is restricted to those groups. Check Monzo’s personal-account refer-a-friend page separately if you want a standard current account instead.

Sources and checks

Invitation, eligibility and reward checked on 14 September 2026.