Monzo is entering the mobile market with its first-ever phone plans, offering yearly discounts to loyal customers. The digital bank's Monzo Mobile service will launch this summer, with a waitlist opening from today.
Plans include 10GB of UK data for £8 a month, 30GB of UK data plus 10GB of Europe roaming for £12 a month, and unlimited UK data with 25GB of global roaming for £20 a month. All plans are flexible with no exit fees, allowing customers to switch or cancel at any time.
Monzo Mobile will be available exclusively to Monzo customers, who will receive a 5% discount off their monthly bill each year, up to a maximum of 30%. The service operates via eSIM and uses the Virgin Media O2 network, offering more than 99% UK coverage.
Duygu Yenidogan-Schmidt, General Manager for Core Banking at Monzo, said: 'We’ve always believed your bank should do the hard work for you - now we’re bringing that same thinking to mobile. Monzo Mobile gives you flexibility, reliable coverage and a simple, transparent experience, while rewarding your loyalty.'
While Monzo's plans include loyalty discounts, cheaper upfront deals are available elsewhere. For example, Lebara offers 10GB for £5.95 a month, Talkmobile provides 20GB for £5.95, and ID Mobile has 25GB for £6 or unlimited data for £15 a month. Customers are advised to compare prices and consider social tariffs if eligible for benefits.
