We’re excited to share some really big news... 

Today we’re launching Monzo Flex. 

There are already a few ways to spread the cost of purchases over time. But customers told us none of them quite hit the mark.

Why do you need to reapply every time? Why do some of them only work at a few retailers? Why’s it so hard to find out how much credit you’ve been given? And why can’t you have more flexibility in how you pay back?

Lots of questions, and here’s our answer: Monzo Flex.

Monzo Flex lets you spread the cost of purchases over 3 months interest free, or up to 24 monthly payments at 29% APR Representative (variable).

You can use it pretty much anywhere you use Monzo online and in store, to pay for pretty much anything you want. You’re not limited to a few places to spend. And you can wind back the clock, by choosing to flex transactions you made in the last 2 weeks.

If you’re eligible, we’ll give you a pre-approved credit limit you only apply for once. So no checks at check out. And you can flex as many payments as you like, as long as the total spend is within your limit – giving you confidence that you’ll never overspend. 

More money than you thought? You can pay off a little extra or early and save yourself some interest.

Monzo Flex is credit for eligible 18+ year olds only.

Carefully consider the cost of using credit for purchases. Not keeping up with payments may negatively impact your credit score and you may no longer benefit from an interest-free rate on the plans you’re behind on.

Use Monzo Flex online and in person, wherever you use Monzo

Headphones, homeware, hotel bookings, hamster medicine. Monzo Flex works for almost anything you’d usually pay for with Monzo. (We do exclude gambling, cash withdrawals and crypto – there’s a full list in the app.)

Change things up or down when you need to

You can pay off a bit extra early, or pay back in full, with no fee.

If you need more time, you can also edit your instalments. If your instalment plan is interest free and you switch to a longer-term plan, we’ll charge interest at 24% APR representative (variable). You won’t be able to switch back to an interest-free plan.

Shop with total confidence, knowing your credit limit up front 

Apply once, up front. If we approve you, you can use Flex as often as you like, as long as you have enough available credit. So you know you’re good to go before you get to the checkout.

Plus, we’re clear up front about what you’ll pay when you use Flex, showing any interest in pounds and pence.

Control of your spending, all in one place

Manage everything in your Monzo app. Your Flex balance sits alongside your current account balance, so it’s easy to see what you’ve spent and when your payments are due.

This is just the beginning – let us know what you think!

We really hope you enjoy using Flex. As always, we’d love to hear your thoughts and we’ll be in touch in the app to ask for your feedback.

Want to know more? Head to our website to learn about Flex.