Cancel Monzo Perks the easy way

Overview

Monzo Perks is a paid plan within Monzo current accounts that bundles higher savings rates and consumer-facing benefits for UK customers aged 18 and over. It sits between Monzo Extra and Monzo Max on Monzo's paid plan lineup.

Main benefits

Perks includes higher interest on Instant Access savings (3.25% AER variable), Select Access savings (3.65% AER variable), an annual Railcard, an annual Uber One membership, a weekly Greggs treat, a monthly Vue cinema ticket, YouTube Premium Lite, discounted investment fees, and fee-free cash withdrawals up to £600 every 30 days outside the EEA.

Company facts

Web

1. Sign in at your Monzo account on the website or app.
2. Go to Account details then Plans or Current Account plans.
3. Select Perks and choose Manage or Cancel.
4. Follow the on-screen prompts to confirm cancellation or switch plans.
5. Save any confirmation shown or email receipt.

iOS

1. Open the Monzo app on your iPhone.
2. Tap your profile then Current Account > Plans.
3. Select Perks then Manage > Cancel or Switch plan.
4. If inside the 14-day cooling-off, request a refund using the in-app flow and note any applicable fees.

Android

1. Open the Monzo app on your Android device.
2. Follow the same flow: Profile > Current Account > Plans > Perks > Manage.
3. If you paid via Google Play, cancel the subscription in the Play Store subscriptions area too. Uninstalling the app does not cancel Google Play subscriptions - see Google Play guidance.

Phone

1. If you use phone support, open the app and request to call or use the in-app chat to ask an agent to cancel.
2. Ask the agent for confirmation and a reference number.

Email

1. Send a clear cancellation request to [email protected] including name, account details and the reason for cancellation.
2. Keep the sent email and any reply as proof.

Post

1. Write a signed cancellation letter with your name, account details and request to cancel Perks.
2. Send by recorded delivery to Monzo Perks, 5 Appold Street, EC2A 2AG London, United Kingdom.
3. Keep proof of postage and await written confirmation.

Moving abroad or relocating

If you move outside the United Kingdom and Monzo Perks becomes unavailable to you, contact Monzo support with proof of new address such as a utility bill or lease agreement. Monzo's terms allow them to change eligibility based on location; provide the address document and request cancellation. Relevant law: Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 for cooling-off rights where applicable.

Price increase

If Monzo raises the price of Perks you can switch or cancel. Monzo may apply changes to new customers immediately and to existing customers with a notice period. If the price increase affects the value of your plan, cancel or switch within the period provided in Monzo's notification to avoid the new price. Applicable law: Consumer Contracts Regulations 2013 and CMA guidance on unfair auto-renewal terms.

Death of the subscriber

To cancel a deceased person's Perks, contact Monzo's support and provide a copy of the death certificate and proof of executor authority. Monzo will process account changes after verification. No statutory article beyond general probate rules is cited in Monzo terms.

Legitimate grounds (Monzo-accepted)

Monzo can end or change Perks immediately under certain circumstances such as serious breach of terms or suspected fraud. If you have a legitimate contractual complaint - for example Monzo failing to provide a paid benefit - raise a complaint in writing. Evidence to provide includes screenshots, transaction IDs and timestamps. Applicable law: Consumer Rights Act 2015 for services performed with reasonable care and skill.

End of commitment / no minimum term

There is no minimum commitment for Perks. You can cancel at any time. If you cancel outside the 14-day cooling-off window your benefits remain until the next payment date and you will not receive a refund for the ongoing billing period unless the statutory right applies.

Cooling-off period

Under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 you have a 14-day cooling-off period for distance contracts. If you cancel within 14 days you can receive a refund for the monthly payment, subject to deductions for used benefits: Railcard fee £23 if claimed, Perks card £5 if ordered, cinema ticket £6 if claimed. If digital content or benefits were activated with your explicit consent there may be deductions.

Before you cancel: try to negotiate

Monzo Perks does not have widely reported retention offers in the public research. If you want to try to keep savings, open the in-app chat and ask for a retention offer or a temporary discount. Provide your reasons and your target price. If Monzo cannot offer a discount, ask to switch to a lower-cost plan such as Extra for £3 per month or to Free to stop payments immediately.

What cancelling saves you - yearly calculation

Perks costs £9 per month. Annual cost calculation: 9 x 12 = £108 per year. Extra costs £3 per month: 3 x 12 = £36 per year. Max starts from £19 per month: 19 x 12 = £228 per year. Cheapest competitor in the researched list is Kroo at £0 per month: 0 x 12 = £0 per year.

Example savings if you cancel Perks and switch to Kroo or a free alternative: £108 - £0 = £108 saved per year. If you switch from Perks to Extra: £108 - £36 = £72 saved per year.

Key UK consumer law

Relevant statutes: Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 gives a 14-day cooling-off period for distance contracts. Consumer Rights Act 2015 requires services to be performed with reasonable care and skill and protects against unfair contract terms.

Regulatory bodies and escalation

Monzo Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. If you cannot resolve a dispute with Monzo, escalate to the Financial Ombudsman Service. For guidance contact Citizens Advice. For qualifying card payments you may consider Section 75 or chargeback with your card issuer.

Auto-renewal and unfair terms

The Competition and Markets Authority (CMA) has guidance regarding hard-to-cancel subscriptions and unclear auto-renewal terms. If you believe Monzo's auto-renewal terms are unclear or unfair, cite CMA guidance when escalating your complaint.

Check access and benefits

After cancellation you can use benefits until the next payment date if you cancelled outside the 14-day cooling-off period. Confirm the final date your benefits remain active in the app or from the confirmation message.

Data and account effects

Cancelling Perks does not close your Monzo current account. Any linked savings rates or perks tied exclusively to the Perks plan will end on the cancellation date shown in your account. If you want to keep a Railcard after cancellation you may be charged a retention fee of £1.92 per remaining month until your Perks anniversary if the Railcard was ordered that year.

Final billing and refunds

If you cancelled within the 14-day cooling-off period you are entitled to a refund of the monthly payment subject to deductions for used benefits. Deductions include a Railcard fee £23, Perks card £5, cinema ticket £6. To request a refund follow the in-app cancellation flow or contact [email protected] and reference the Monzo Perks cancellation help page: Perks cancellation & fees.

Re-activation

You can resubscribe to Perks later via the Monzo app. If Monzo charged a Railcard fee on cancellation it may be refunded if you take Perks or Max again within 30 days according to Monzo's terms.

Use this checklist to make sure your cancellation is smooth and you keep proof.

• Open the Monzo app and navigate to Current Account > Plans > Perks > Manage > Cancel.
• Take a screenshot of the in-app confirmation or save the confirmation email.
• If you paid via Google Play cancel the Play Store subscription as uninstalling the app does not cancel it.
• If you claimed a Railcard, check whether a fee applies: within 14 days Railcard fee £23; after 14 days a retention fee £1.92 per remaining month until the anniversary may apply.
• If you ordered a Perks card expect a £5 card fee if cancelled within 14 days.
• For postal cancellation send a signed letter to Monzo Perks, 5 Appold Street, EC2A 2AG London, United Kingdom and keep proof of postage.
• If you need a refund for cancellation within 14 days, request it via the in-app flow or by emailing [email protected] and reference the official cancellation terms.