Last updated: 22 August 2026Monzo Perks price increase
By Stiv · Design, technology and personal finance
The Monzo Perks price increase landed in my inbox this morning, and it is a blunt one. From October 2026 Perks costs £9 a month instead of £7, and Max climbs from £17 to £19 on the same timetable. In exchange, Monzo has dropped YouTube Premium Lite into the bundle.
I pay for Perks out of my own pocket, so this is written by someone who actually claims the weekly Greggs.
This article contains affiliate or referral links. If you click through and sign up I may earn a commission or referral bonus at no extra cost to you. It does not affect my editorial view.
This is not financial advice. Prices, rates and plan benefits change often, so always check Monzo's own terms before you decide anything.
Thinking of opening a Monzo account?
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Below you will find every new price for Perks, Max and the rest, the dates that matter, and honest maths on whether the bundle still stacks up.
Section 01 / The numbers
What the Monzo Perks price increase actually is
Two pounds a month, one new streaming perk, and a deadline in October.
Monzo is putting Perks up from £7 to £9 a month. That works out at £108 a year rather than £84. Meanwhile Max goes from £17 to £19, and Max Family goes from £22 to £23. Anyone who signed up on or after 13 August 2026 already pays the new price.
The legacy plans are moving too. Plus climbs from £5 to £6, and Premium climbs from £15 to £17. Both closed to new sign-ups a while back, so only long-standing customers are affected. Extra, happily, stays at £3.
| Plan | Price now | New price | Change |
|---|---|---|---|
| Free | £0 | £0 | No change |
| Extra | £3 a month | £3 a month | No change |
| Perks | £7 a month | £9 a month | Up £2 |
| Max | £17 a month | £19 a month | Up £2 |
| Max Family | £22 a month | £23 a month | Up £1 |
| Plus (legacy) | £5 a month | £6 a month | Up £1 |
| Premium (legacy) | £15 a month | £17 a month | Up £2 |
All prices confirmed on Monzo's own plan price change help page and its Perks page, checked on 22 August 2026.
The dates that matter
Three dates do all the work here, so it is worth writing them down.
- 13 August 2026. New customers already pay the new prices from this date.
- 13 October 2026. The last day existing subscribers can cancel or switch under Monzo's relaxed terms. Minimum terms are waived and refunds are pro rata. Sign up today and this one does not apply to you at all.
- 14 October 2026. Existing customers move to the new price on their first billing date on or after this day. Mine falls on 25 October.
Note that the deadline only matters if you already pay for a plan. New customers are on £9 from day one, so there is nothing to opt out of. For everyone else, doing nothing counts as acceptance, and silence costs £24 a year.
Section 02 / The trade
What you get for the extra £2
One new perk, and a bundle that has quietly doubled in size since launch.
The headline addition is YouTube Premium Lite, which Monzo values at £7.99 a month. It strips ads from most videos, and since February 2026 it handles background play and offline downloads too. Music is the catch. Lite does not include YouTube Music Premium, music content sits outside the ad-free promise, and Shorts still carry ads. So it is not quite full Premium.
Since Perks launched, Monzo has bolted on plenty more. You now get an annual Uber One membership and a monthly Vue cinema ticket with 10% off food and soft drinks. Billsback arrived too, alongside a Saving Challenge paying 5.00% AER (variable). Meanwhile the lower investment platform fee now covers the Monzo Pension. The Google Sheets export handles Pot transactions as well, which sounds dull until you attempt a tax return without it. Would rather not do your own return at all? Our TaxFix discount code page has the current offer.
Everything currently in Perks
Here is the full bundle as it stands, so you can judge the Monzo Perks price increase against what you actually use.
- Weekly Greggs treat, choosing between a sausage roll, muffin, doughnut or regular hot drink
- Annual Railcard, currently £35 a year to buy outright
- Monthly Vue cinema ticket, plus 10% off food and non-alcoholic drinks
- Annual Uber One membership, otherwise £4.99 a month or £49.99 a year. New to Uber? Our Uber referral code page carries the current joining offer.
- YouTube Premium Lite membership
- Billsback, where Monzo pays back 1,000 or more bills a month, up to £150 each
- 3.25% AER (variable) on Instant Access Savings, against 2.75% AER (variable) on the free plan
- 3.65% AER (variable) on Select Access Savings, against 3.15% AER (variable) on the free plan
- Saving Challenge at 5.00% AER (variable)
- Discounted platform fee on Monzo investments and the Monzo Pension
- Five active virtual cards, advanced roundups, custom categories and unlimited connected accounts
- Credit insights from Equifax and TransUnion, refreshed weekly
A note on the savings side. Eligible deposits are protected up to £120,000 per eligible person per UK-authorised bank, building society or credit union by the FSCS (since 1 December 2025). The deposit-taker here is Monzo Bank Limited, FRN 730427, which you can check on the FCA Register. All the savings rates above are variable, so they can move at any time.
Section 03 / The maths
Doing the maths on the Monzo Perks price increase
It depends entirely on how many of the freebies you actually claim.
Start with the three perks that carry a public list price. A Railcard costs £35 a year. Uber One costs £49.99 a year. YouTube Premium Lite is valued by Monzo at £7.99 a month, so call it £95.88 a year. Together that is £180.87, against an annual plan cost of £108.
On paper, then, the bundle wins comfortably. However, that maths only holds if you would have bought all three anyway. A Railcard you never tap is worth nothing. Uber One earns you nothing if you always cook, as I mostly do with Grubby meal kits. The same goes if you rarely take taxis.
Be Clever With Your Cash puts the full haul at roughly £300 a year, including the Greggs and Vue benefits. That figure feels generous to me, but the direction is right. Heavy users win, light users subsidise them.
Perks is a lot like a gym membership. Brilliant value, right up until you stop turning up.
The savings rate boost on its own
Some people upgrade purely for the rate bump, so here is that sum in isolation. Perks adds 0.50 percentage points to both Instant Access and Select Access Savings.
To recover £108 a year from that boost alone, you would need roughly £21,600 sitting in Monzo savings. That is before tax on the interest. By comparison, our best savings account guide lists easy-access rates well above 3.25% elsewhere. So the rate boost is a nice extra rather than a reason to subscribe.
For the mechanics of pots, Cash ISA versions and how the rates apply, we covered it all in Monzo savings pots explained.
Section 04 / The catch
What is not so great
The bundle keeps growing, but so does the effort needed to extract the value.
First, almost every perk needs claiming. The Greggs treat resets weekly, the Vue ticket resets monthly, and nobody sends you a nudge if you forget. Miss a few weeks and the sums stop working.
Second, the bundle is now quite specific. It suits someone who commutes by train, eats Greggs, watches films at Vue and orders on Uber Eats. If two of those four miss the mark, £108 a year buys a savings boost and some virtual cards.
Third, there is a Railcard trap worth knowing about. Redeem the Railcard, then cancel before your next Perks anniversary, and Monzo charges a fee to let you keep it. Monzo puts that at £1.92 a month for the remaining months. It is fair enough, yet it does blunt the "cancel and keep the goodies" plan.
Finally, this is the second big change in a short window. Perks launched, then grew, and now costs 29% more than it did. Nothing stops that happening again next year.
The Monzo Max price increase explained
Max rises by the same £2, from £17 to £19 a month. That works out at £228 a year rather than £204. Max Family, which extends the insurance cover to your household, goes from £22 to £23. Both follow the Perks timetable exactly, so the new price lands on your first billing date on or after 14 October 2026. Anyone who joined Max on or after 13 August 2026 already pays £19.
For that you add worldwide travel insurance, with cancellation cover up to £5,000 and medical bills up to £10m. You also get worldwide phone insurance for handsets up to £2,000. Then there is RAC breakdown cover across the UK and Europe, discounted airport lounge access and a 3.50% AER (variable) Instant Access rate. Family cover costs £4 more.
Max suits frequent travellers who would otherwise buy annual travel insurance separately. Age limits apply, so check the terms if you are over 69. Otherwise Perks covers most of the fun bits for half the money.
How to cancel or switch before the deadline
This section is for anyone who was already paying for a plan before 13 August 2026. If you join now, you are on the new price already and no deadline applies.
Open the Monzo app, then go to your Perks Home. From there you can compare plans, drop to a cheaper tier or cancel outright. Act before the end of 13 October 2026 and Monzo refunds the unused days of that month.
Switching down to Extra at £3 keeps Billsback and the boosted roundups. You also keep the credit insights and a 3.00% AER (variable) Instant Access rate. Consequently it suits anyone who never cared for the lifestyle perks.
What I am doing
I am staying on Perks, at least for now. The Railcard and the Vue ticket earn their keep in my household, and YouTube Premium Lite replaces something I was already paying for. Even so, I have put a reminder in for next August to redo this sum, because the moment I stop claiming the weekly Greggs the value falls apart.
Weighing Monzo against the rest of the market? Our best current account guide ranks the main UK options. My longer Monzo review then covers four years of daily use. The Railcard angle also comes up in our TrainPal versus Trainline comparison.
Frequently asked questions
How much is Monzo Perks now?
Perks costs £7 a month today and £9 a month from 14 October 2026 for existing customers. New customers have paid £9 since 13 August 2026.
How much is Monzo Max now?
Max costs £17 a month today and £19 a month from 14 October 2026 for existing customers. Max Family moves from £22 to £23. New customers have paid the higher prices since 13 August 2026.
Why is Monzo increasing the Perks price?
Monzo says the extra £2 pays for the benefits added since launch. Those include Uber One, the Vue ticket, Billsback and now YouTube Premium Lite.
Can I cancel Monzo Perks without a penalty?
Yes, if you were already on a plan before 13 August 2026. Until the end of 13 October 2026 you can cancel or switch immediately, and Monzo refunds the rest of that month pro rata. After that date the normal plan terms apply again. Anyone who joined later is already on the new price, so the deadline does not affect them.
Do I lose my Railcard if I cancel Perks?
No, but a fee applies. If you redeem the Railcard and then cancel before your Perks anniversary, Monzo charges roughly £1.92 for each remaining month so you can keep it.
Is Monzo Extra going up in price too?
No. Extra stays at £3 a month. Only Perks, Max, Max Family and the legacy Plus and Premium plans are changing.
Is YouTube Premium Lite the same as YouTube Premium?
Not quite, though the gap narrowed in February 2026 when Lite gained background play and offline downloads. Videos will play in the background on Lite. What it still leaves out is music: no YouTube Music Premium, and Shorts continue to show ads. Full Premium covers all of it.
Is my money safe with Monzo?
Monzo Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA, under FRN 730427. Eligible deposits are protected up to £120,000 per eligible person by the FSCS.
More from CoolCuration
- Best banking app UK - see how Monzo's app stacks up against the other challengers before you pay for a plan.
- Best referral offers UK - the running list of sign-up bonuses worth claiming this month.
- Chase refer-a-friend code - the fee-free cashback account that costs nothing a month.
- Emma app premium trial - spot forgotten subscriptions before they quietly renew.
- Gift guide for techies - for when the Greggs sausage roll will not cut it as a present.
Disclaimer. This article is not financial advice. Prices, AER rates, plan benefits and terms can change at any time. All figures here were checked on 22 August 2026. Savings rates quoted are variable. If you are unsure whether a paid bank plan suits your circumstances, consider speaking to a qualified financial adviser. This article contains affiliate or referral links, and I may earn a commission or referral bonus at no extra cost to you. CoolCuration is not authorised or regulated by the Financial Conduct Authority.
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