To be eligible for Double Payday, you need to have your salary paid into Monzo – then, every month, Monzo will randomly pick ten customers to have their salary doubled
Monzo is launching a new bank feature where customers can double their salary every month.
To be eligible for Double Payday, you need to have your salary paid into Monzo – then, every month, Monzo will randomly pick ten customers to have their salary doubled.
So if your monthly take home pay is £2,500, Monzo will add another £2,500 to your account, tax-free. There is a cap of £10,000 – so if your take home pay is £11,000, then Monzo will give you £10,000.
The payment will be based on your take-home pay as paid into your account, not your gross salary, and your salary has to be paid by your employer via BACS.
You must have received your salary into your Monzo account by the last day of the calendar month to be eligible for next month’s draw. Double Payday launches on December 8, 2025.
Richard Cadman, Senior Product Director at Monzo said “We know how much our customers love getting paid early with Monzo, and we’re doing payday the Monzo way, taking that feeling to the next level.
“With Double Payday, we’re giving customers the chance to literally double their salary every month – just in time for the festive season. It’s yet another industry first – that you can only do with Monzo.”
It comes after Monzo launched its get paid early feature, where you can request your salary is put into your account one day early. There are no fees for this service and the money is normally paid at 4pm one business day early.
Monzo also has a salary sorter feature, which divides your incoming pay packet or other payments into different pots – for example, for savings, bills, or spending money.
In order to do this, you need to have your salary paid into your Monzo account, plus pots already set up, ready for the app to divide your money into.
Monzo recently also introduced a new update for customers who use its Monzo Flex credit card.
Monzo Flex allows customers to split the cost of purchases over time. You can use it to split eligible purchases into three interest-free monthly installments, or over six or 12 months with interest.
Previously, shoppers had to pay in full when they used their Monzo Flex credit card, and then choose to spread the cost of the purchase in their banking app.
Monzo then updated this so that you could split payments when making online purchases in September 2024 – and now, the digital bank has expanded this feature so you can split payments when buying in store as well.
