In a festive surprise for its users, digital bank Monzo has unveiled a groundbreaking new promotion that will see the salaries of selected customers doubled. The scheme, a first for the UK banking sector, promises to deliver a significant tax-free cash injection during the costly holiday period.
How Monzo's Double Payday Promotion Works
The initiative, named Double Payday, is scheduled to commence on December 8, 2025. From that date, ten Monzo customers will be randomly selected each month to have their salary payment doubled by the bank.
This means if a customer's monthly take-home pay is, for example, £2,500, Monzo will add an extra £2,500, effectively doubling their pay packet for that month. The bank has confirmed this bonus will be tax-free for the recipient.
Eligibility for the draw is straightforward. To qualify, customers simply need to have their weekly or monthly salary paid directly into their Monzo account. The bank has confirmed that this includes salaries paid into Monzo joint accounts as well.
A Festive Boost and Broader Salary Features
Monzo's Senior Product Director, Richard Cadman, highlighted the timing of the launch. "We know how much our customers love getting paid early with Monzo, and we're doing payday the Monzo way, taking that feeling to the next level," he said.
"With Double Payday, we're giving customers the chance to literally double their salary every month — just in time for the festive season. It's yet another industry first - that you can only do with Monzo."
The promotion arrives when many face a longer wait for their January payday, offering potential relief during an expensive time of year.
Monzo's Suite of Financial Tools
Double Payday joins an existing lineup of Monzo features designed to help users manage their money more effectively:
- Get Paid Early: Allows customers to access their salary a day early at 4pm.
- Salary Sorter: Automatically organises incoming salary into different accounts and pots for spending, bills, and savings.
- Billsback: For Extra, Perks, and Max subscribers, Monzo pays back over 1,000 bills every month (up to £150).
The bank is clearly using the high-profile Double Payday promotion to attract new customers, suggesting there has "never been a better time to join Monzo." This bold move signals increasing competition in the digital banking space, with providers seeking innovative ways to engage and retain their user base beyond traditional interest rates or cashback offers.
