Monzo introduces Monzo Flex

Monzo Flex lets you spread the cost of purchases over 3 months interest free, or over 6 or 12 months at 19% APR (variable).

You can use it pretty much anywhere you use Monzo online and in store, to pay for pretty much anything you want, over £30. 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, Monzo will 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.

Want to pay Monzo back early? There’s no fee for that. If you want more time, you can edit your instalment plan to pay back over a longer period. And they don’t charge extra fees if you pay them back late.

Here’s what you’ll get

Monzo Flex in 1,2,3

Once Monzo have approved you, using Flex is easy.

• Buy something with Monzo.
• Tap the transaction and choose to flex it.
• Pick your instalment plan. We’ll take the first instalment straight away, and then monthly after that until you’ve paid it all off.

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

Edit your instalment plans at any time. Pay off a bit extra early, or pay back in full, with no fee.

Shop with total confidence, knowing your credit limit up front

Apply once, up front. If Monzo 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, Monzo are clear up and 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.

Register now for early access

Monzo are inviting people to get early access to Monzo Flex from today. Tell them you’re interested within the app and they’ll let you know when your invitation is ready and ’ll be inviting more people every week!