Monzo has announced it is entering the UK mobile market as a mobile virtual network operator (MVNO) using Virgin Media O2’s network. The challenger bank will offer customers an annual discount on their plans the longer they remain with the service, with prices decreasing by 5 per cent each year up to a maximum of 30 per cent.
Prices start at £8 per month for 10GB of 5G data, with a £12 plan offering 30GB including 10GB of European roaming, and an unlimited UK data plan with 25GB of global roaming for £20 per month. Monthly rolling contracts mean no long-term commitment, but loyalty is rewarded with the annual discount. For example, the £8 plan would drop to £5.60 after six years.
Monzo Mobile will launch in the summer and is available only to existing Monzo customers. The service is eSIM-only, so a physical SIM card is not provided, and it offers tight integration with the Monzo app for plan controls and roaming add-ons. Features include 24/7 in-app customer support, visual voicemail, Wi-Fi calling and hotspotting.
This approach contrasts with many major UK providers such as Vodafone, O2 and EE, which typically increase bills annually. Monzo said its mobile plans offer flexibility, reliable coverage and a simple, transparent experience while rewarding loyalty.
