Monzo (Perks)
Illustrative reference data — not personal financial advice. Verify rates and fees on the provider’s own pages before acting.
Free pots earn 2.75%; Perks subscription (£9/mo — up from £7/mo for new customers from 13 Aug 2026, existing from 14 Oct 2026) gets 3.25% on instant pots, up to 3.65% on Select Access.
Products tracked
- current-account3.25% AER
FSCSFinancial Services Compensation SchemeUK government-backed protection if a firm fails. Cash deposits at an authorised bank or building society are covered up to £120,000 per person, per banking group (raised from £85,000 on 1 December 2025). Investments at an authorised platform are covered up to £85,000 — a separate scheme. NS&I sits outside FSCS with 100% HM Treasury backing. protection
Not FSCS-protected — check the provider's own pages for current coverage details.
FSCS deposit cover is per banking licence (not per brand). Lloyds Banking Group includes Lloyds, Halifax, Bank of Scotland, and Birmingham Midshires — all share one £120,000 cap. Investment platforms run on a separate FSCS scheme capped at £85,000. NS&I sits outside FSCS with 100% HM Treasury backing. Spreading large balances across separate licences preserves coverage.
Free Instant Access pots 2.75% AER. Perks (£9/mo — up from £7/mo; new customers from 13 Aug 2026, existing from 14 Oct 2026) gives 3.25% on instant pots; Select Access 3.15% (Free/Plus) / 3.65% (Perks/Max).
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Reference data only — not personal financial advice or a recommendation. Rates and fees move; verify on the provider’s own pages before opening or transferring an account. Provider trademarks belong to their respective owners; Monzo (Perks) appears here under nominative fair-use as identification of a UK financial product.