Monzo are giving new customers £50 for opening a Monzo Business account and making one card transaction. It's one of the easiest sign up offers around, and there's no minimum spend to hit.
Don't be put off by the Business account part, anyone can qualify, and we'll cover all of that in this post.
You don't need to switch banks, you don't need any direct debits, and you can qualify by signing up as a sole trader on the free Business Lite plan.
It's worth noting that Monzo normally offers 'up to £50' for their bonuses, but with our code, you'll get a guaranteed £50 added to your account.
Keep reading for the full guide. Let's make some money!
the quick version
Click the button below to open a Monzo Business account using our referral link. You'll get £50 when you register as a sole trader and make one card transaction within 30 days.
This offer could be removed at any time, so I recommend taking action ASAP if you want the free money.
Here's how to get your £50 from Monzo Business:
1) Open a Monzo Business account using our link.
Click the button below to head over to Monzo and start your application. It only takes a few minutes, and the free Business Lite plan is all you need.
💡
You need to use our referral link when you sign up. If you open the account without it, you won't get the £50 bonus.
For full transparency, when you use our link, you'll get £50 and we'll also get a £50 reward. Thank you for using our link and supporting the site.
For full transparency, when you use our link, you'll get £50 and we'll also get a £50 reward. Thank you for using our link and supporting the site.
2) Register as a sole trader (or director of a limited company).
Monzo Business is open to sole traders and directors of limited companies in the UK. If you have a side hustle, sell on Etsy or Vinted, or do any freelance work, you can sign up as a sole trader.
You don't need to register with Companies House or HMRC to open the account. Monzo just ask what your business does, and you carry on from there.
Don't worry if you're not actually a sole trader or business owner, read the section below this guide to learn how to qualify.
3) Verify your identity.
Monzo will ask for a photo ID and a few details about you and your business. Most applications are approved the same day, and plenty go through instantly.
4) Make one card transaction within 30 days.
Once your account is open, use your new Monzo Business card to pay for something. There's no minimum spend, so a coffee or the weekly food shop will do the job.
What counts: card payments, Apple Pay, Google Pay and online shopping. What doesn't count: ATM withdrawals and money transfers.
5) Get your free £50.
Monzo will pay £50 into your account once you've completed these steps. That's genuinely all there is to it.
💡
Already signed up and forgot to use our link?
Monzo's referral works through the link, so you need to open the account using our link to qualify. If you've already opened a Monzo Business account without it, the £50 can't be added afterwards. Sorry.
Monzo's referral works through the link, so you need to open the account using our link to qualify. If you've already opened a Monzo Business account without it, the £50 can't be added afterwards. Sorry.
Yes, it's a business account, but hear me out...
Monzo Business is a proper business account, so if you already have a side hustle or a small business, it's genuinely useful. You get invoices, tax Pots and spending categories, all with no monthly fee on the free plan.
But if you're thinking 'I'm not a business owner', don't worry.
Registering as a sole trader with Monzo doesn't mean filing forms with Companies House or doing tedious HMRC paperwork.
There's no registration fee and no minimum turnover. You can decide today that you're a sole trader, grab your £50, and if it turns out that you don't want to be a sole trader anymore, no worries! No harm done and you're up £50.
(Wink wink, nudge nudge). Plenty of people claim this offer and suddenly decide they don't want to be a sole trader anymore.
The Business Lite plan costs £0 a month. Open the account, use the card for a coffee, pocket the £50, and close it whenever you like. There's no contract tying you in.
A few things worth knowing
Stick to the free Business Lite plan.
Business Lite is free. Monzo will also show you Business Pro at £9 a month with your first month free, but you don't need it to claim the £50. Skip it unless you genuinely want the extra features.
Make one genuine card payment.
The qualifying action is a card transaction. ATM withdrawals and bank transfers don't count, so make sure it's an actual card payment. There's no minimum amount, so a tiny purchase is fine.
This offer could disappear at any time.
Monzo don't publish an end date for this referral offer, which means it could be pulled without warning. If you want the £50, act sooner rather than later.
You must be a new customer.
You're only eligible if you don't already have a Monzo account and haven't applied for one before. You also can't refer yourself. On the plus side, your money is FSCS protected up to £85,000 because Monzo is a fully regulated UK bank.
We'll also get £50 from Monzo for referring you, at no cost to you. If you found this useful, using our link is a nice way to say thanks, and it doesn't change your reward one bit.
Last updated: 2nd September 2026. Offers can change, so check Monzo's own site before applying.
