Monzo Plus now offers interest and exclusive discounts
Monzo Plus, a type of advanced account UK digital bank offers for a monthly fee, will give customers two new features. The bank is letting users earn interest on the balance and giving access to exclusive offers and discounts.
The bank notes that new features will be available to all Monzo Plus account holders, at no additional costs. Customers should just pay Monzo Plus regular fee of £6 a month for 12 months. An additional fee is required for Custom features, e.g. travel insurance.
Now Monzo Plus users will earn 1.5% interest (Annual Equivalent Rate) on positive balances up to £4,000. That includes any money they’ve got saved in a regular Pot, but not money they’ve got in Savings Pots.
Exclusive deals will be provided to Monzo Plus users through digital bank’s partnerships with different companies. For instance, customers can now benefit from discounted music subscriptions or good deals on car hire.
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