More than 15 million Monzo personal banking customers could benefit from a feature allowing eligible account holders to receive their wages one working day early. The service is available ahead of Christmas, when households may face additional spending on presents, travel and seasonal gatherings.
The UK digital bank offers the free Get Paid Early feature to customers whose salaries or student loan payments arrive through the Bacs payment system. Rather than waiting until their scheduled payday, eligible users can access their money from 4pm on the preceding working day, provided they claim it through the Monzo app.
How Monzo Customers Can Access Their Wages Before Payday
According to the Express.co.uk, Monzo customers who qualify for the service receive a notification through the banking app when their payment becomes available. They can then choose to claim the money early, without paying an additional fee.
Eligibility depends on how the payment is processed. Salaries and student loan payments must arrive through Bacs, a system commonly used in the UK for wages, Direct Debits and other bank transactions.
The arrangement means someone expecting their salary on 18 December could access it from 4pm on 17 December instead. The service operates on working days, rather than simply providing access 24 hours before every scheduled payment.
Customers who do not currently receive their wages into Monzo can ask their employer to use their Monzo account details for future salary payments. Opening a standard personal account is free, and customers do not have to transfer all their existing banking arrangements to receive their wages there.
The Sun also reports that Revolut provides an early payment service, with eligible salaries generally arriving during the late afternoon of the working day before payday. Neither bank charges customers a fee specifically for accessing their salary early.
Monzo’s own website confirms that its Get Paid Early service is available to UK residents aged 16 and over who hold a current account, subject to the relevant terms and conditions.
Salary Prize Scheme Offers Another Benefit to Eligible Account Holders
Alongside early salary access, Monzo operates a separate monthly promotion called Double Payday, which gives selected customers the opportunity to receive an additional payment matching their wages.
According to Monzo, 10 eligible customers have their salaries doubled each month. The promotion is available to UK residents aged 18 and over who receive qualifying salary payments into a Monzo personal or joint account.
Unlike Get Paid Early, the Double Payday promotion accepts qualifying salaries paid through either Bacs or Faster Payments. Weekly and monthly salaries between £300 and £20,000 are eligible, although winning payments are capped at £10,000.
For example, a customer receiving £500 in take-home pay would receive another £500 if selected. Monzo states that winners do not pay tax on their winnings.
The bank also provides a Salary Sorter tool, allowing customers to distribute incoming wages between everyday spending, bills, savings and investments. Users can create up to 20 Pots and save their preferred allocations for subsequent payments.
Monzo says approximately 16 million customers use its banking services, including more than 15 million personal account holders and over one million business customers.
For eligible customers, the early payment feature remains separate from the monthly prize scheme. Access to wages ahead of payday depends on receiving a qualifying Bacs payment, while Double Payday operates under its own eligibility requirements.
