17 Feb
Monzo Bank Cashback Offers & Rewards Guide
February 17, 2024
Monzo Bank, a popular app-based bank in the UK, has recently introduced a new cashback feature for its customers. With this feature, customers can earn cashback ranging from 2% to 35% on purchases from a variety of retailers, including Asda, Boots, Disney Plus, and H&M. This new offering has made Monzo more competitive in the market by providing attractive perks to its customers.
In this comprehensive guide, I will explain the cashback rewards and offers provided by Monzo Bank, how to activate and utilize them, and the benefits of maximizing your savings through their cashback program.
Key Takeaways:
- Monzo Bank offers a cashback program for its customers, allowing them to earn cashback on purchases made with participating retailers.
- Cashback percentages range from 2% to 35% depending on the retailer, providing customers with attractive savings opportunities.
- Customers can activate and opt into the cashback offers through the Monzo app, making it easy to start earning cashback.
- Cashback earned is deposited into a dedicated pot within a few days after the qualifying purchase, allowing customers to easily access and withdraw their earnings.
- By utilizing Monzo’s cashback program, customers can maximize their savings and enjoy the benefits of cashback rewards.
Perks Offered by Banks
Banks provide various perks to their customers to enhance their banking experience. These perks often include cashback on spending, interest on account balances, and overdraft facilities. Understanding the perks offered by different banks can help individuals make informed decisions when choosing the right bank for their needs.
For instance, Chase Bank offers new customers the opportunity to earn 1% cashback on most purchases for the first 12 months. This cashback program enables customers to receive a percentage of their spending back, providing them with some financial relief.
“I was pleasantly surprised when I discovered the cashback program with Chase Bank. Being able to earn money on my purchases has made a noticeable difference in my savings.” – a satisfied Chase Bank customer.
Kroo Bank, on the other hand, offers an attractive interest rate of 4.35% AER variable on current account balances. This means that customers can earn interest on the money they keep in their accounts, allowing them to grow their savings over time.
“I switched to Kroo Bank because I wanted to make the most of my money. The interest on my account balance has helped me save more than I would with other banks.” – a happy Kroo Bank customer.
Monzo, a popular app-based bank, stands out by offering easy-access rates of up to 4.50% through their partnership with Paragon Bank. This partnership allows Monzo customers to earn competitive interest rates on their savings, helping them make the most of their money.
Bank Perks Comparison
| Bank | Cashback on Spending | Interest on Balance | Overdraft Facilities |
|---|---|---|---|
| Chase Bank | 1% cashback for 12 months | N/A | N/A |
| Kroo Bank | N/A | 4.35% AER variable | N/A |
| Monzo Bank | N/A | Up to 4.50% through Paragon Bank | N/A |
Comparing the perks offered by different banks allows individuals to find the best fit for their specific needs. Whether it’s cashback on spending, interest on account balances, or overdraft facilities, there is a bank out there that can cater to one’s preferences and financial goals.
Current Cashback Offers from Monzo
If you’re a Monzo customer, you can take advantage of the current cashback offers available on purchases made with a range of popular retailers. These offers provide an excellent opportunity to earn cashback and save money on your everyday spending.
“Monzo currently offers cashback on purchases made with a range of retailers.”
Some of the eligible retailers include Asda, Disney+, Gousto, National Express, Boots, eBay, H&M, and many more. Whether you’re shopping for groceries, entertainment, travel, or fashion, there are options to suit your needs and preferences.
The cashback percentages vary depending on the retailer, with some offers reaching as high as 35%. This means that you can earn significant cashback on your purchases and see the savings add up over time.
However, it’s important to note that cashback amounts may vary between customers. Additionally, some retailers may impose limitations on the amount of cashback that can be earned per month or per transaction. It’s advisable to review the terms and conditions of each cashback offer to understand any limitations or requirements.
Current Cashback Offers:
| Retailer | Cashback Percentage |
|---|---|
| Asda | 2% |
| Disney+ | 10% |
| Gousto | 5% |
| National Express | 4% |
| Boots | 6% |
| eBay | 3% |
| H&M | 8% |
These current cashback offers present an excellent opportunity to earn valuable savings on your everyday purchases. By taking advantage of these offers, you can make your money go further and enjoy the benefits of cashback rewards.
So why wait? Head over to your Monzo app and opt into the cashback feature to start enjoying the rewards today.
How to Get Cashback with Monzo
To start earning cashback with Monzo, customers need to opt into the cashback feature in the app. Once eligible, customers can activate the cashback offers from the list of available retailers. When making a purchase with their Monzo card at a selected partner, customers will qualify for cashback. The cashback earned will be deposited into a dedicated pot within a few days after the qualifying purchase. Customers can access their cashback at any time and withdraw it from the pot.
To activate cashback, follow these simple steps:
- Open the Monzo app on your mobile device.
- Navigate to the “Cashback” section within the app.
- Opt into the cashback feature by clicking on the activation button.
- Explore the list of available retailers and choose the ones that interest you.
- Make qualifying purchases using your Monzo card at the selected retailers.
- Within a few days, the cashback earned will be credited to your dedicated pot.
- Access your cashback anytime and withdraw it from the pot to enjoy your savings!
Qualifying Purchases
To ensure that your purchases qualify for cashback, it’s important to familiarize yourself with the terms and conditions set by Monzo. Keep in mind the following:
- Check the specific cashback percentages offered by each retailer.
- Ensure your purchase meets the minimum spend requirement, if applicable.
- Verify that you are using your Monzo card for the transaction.
- Take note of any limitations or restrictions on the amount of cashback you can earn per month or per transaction.
By following these guidelines and making qualifying purchases, you can start receiving cashback and enjoy the savings offered by Monzo’s cashback program.
Now that you know how to activate cashback, let’s take a closer look at the current cashback offers available from Monzo. Whether you’re shopping at Asda, Boots, or H&M, there are plenty of opportunities to earn cashback on your purchases.
Conclusion
Monzo Bank’s cashback program presents an excellent opportunity for customers to maximize their savings and enjoy rewards on their purchases. With a wide range of eligible retailers and varying cashback percentages, Monzo’s cashback offers are competitive in the market.
By activating the cashback feature and opting into the program, Monzo customers can unlock the benefits of earning cashback on their transactions. Whether shopping at popular retailers like Asda, Boots, or H&M, or subscribing to services like Disney Plus, customers can earn cashback rewards on their everyday expenses.
To make the most of the cashback program, customers should regularly check the list of participating retailers and activate the offers that suit their needs. By doing this, customers can ensure they are maximizing their savings and taking advantage of the cashback rewards available.
So, if you’re a Monzo Bank customer, don’t miss out on the opportunity to earn cashback on your purchases. Activate the cashback feature today, opt into the program, and start unlocking the benefits of Monzo’s cashback offers to boost your savings.
FAQ
What is the cashback program offered by Monzo Bank?
Monzo Bank offers a cashback program where customers can earn cashback on their purchases from various retailers.
What are the perks offered by banks?
Banks offer perks such as cashback on spending, interest on account balances, and overdraft facilities.
Which retailers are currently eligible for cashback offers with Monzo?
Some of the eligible retailers include Asda, Disney+, Gousto, National Express, Boots, eBay, H&M, and many more.
What are the cashback percentages offered by Monzo?
The cashback percentages vary between 2% and 10% depending on the retailer, with some offers going as high as 35%.
Are there any limitations on the amount of cashback that can be earned?
Some retailers impose limitations on the amount of cashback that can be earned per month or per transaction.
How can I start earning cashback with Monzo?
To start earning cashback with Monzo, customers need to opt into the cashback feature in the app and activate the offers from the list of available retailers. Then, customers can make qualifying purchases with their Monzo card at selected partners to qualify for cashback.
How and when will I receive my cashback?
The cashback earned will be deposited into a dedicated pot within a few days after the qualifying purchase. Customers can access their cashback at any time and withdraw it from the pot.
How does Monzo’s cashback program compare to other banks?
Monzo’s cashback program offers competitive cashback percentages and a wide range of eligible retailers, making it an attractive option for customers looking to maximize their savings through cashback rewards.
Source Links
- https://www.thetimes.co.uk/money-mentor/cashback-reward-credit-cards/how-to-get-cashback-monzo
- https://becleverwithyourcash.com/monzo-offers-cashback-in-new-trial/
- https://monzo.com/blog/2019/01/28/cashback/
