Monzo has announced the launch of a new feature for customers that allows them to potentially double their salary each month. Known as Double Payday, this feature requires customers to have their salary deposited into their Monzo account. Every month, Monzo will randomly select ten customers to have their salary doubled, up to a maximum of £10,000. For instance, if a customer’s take-home pay is £2,500, Monzo will add an additional £2,500 to their account, tax-free.
To be eligible for Double Payday, customers must have their salary paid via BACS into their Monzo account by the end of the calendar month. The feature is set to launch on December 8, 2025. Richard Cadman, Senior Product Director at Monzo, expressed excitement about the new feature, emphasizing that it offers customers a unique opportunity to double their salary each month, enhancing the festive season experience.
In addition to Double Payday, Monzo has introduced other innovative features for its customers. The Monzo Flex credit card now allows customers to split the cost of purchases over time. Eligible purchases can be divided into three interest-free monthly installments or spread over six or 12 months with interest. This update builds on the previous option where customers had to pay in full before choosing to split the cost of their purchase in the banking app.
Moreover, Monzo has expanded the flexibility of its payment-splitting feature, enabling customers to split payments for in-store purchases as well as online transactions. This enhancement aims to provide greater convenience and financial control to Monzo users.
