Monzo vs Revolut referral code: which is worth more in 2026?
For a two-sided bonus you actually receive, Monzo wins: a mystery reward of £20, £50 or £100 to each side on Personal (typically £20, but £50/£100 land), or a flat £50 each side on Business, for one card purchase within 30 days. Revolut pays a flat £50 to the referrer only — guaranteed, but the new joiner gets only a variable in-app offer, and it needs a four-step claim in a time-limited window. Open both: Monzo for the two-sided cash you keep, Revolut for the flat £50 to the referrer while its current campaign is live.
Key takeaways
- Monzo pays both sides a mystery reward — a random £20, £50 or £100 on Personal (typically £20), or a flat £50 on Business — after one card purchase within 30 days, on a fully FSCS-protected current account.
- Revolut pays a flat £50 to the referrer only; the new joiner's reward is campaign-dependent, and the £50 runs in a time-limited campaign window that rolls over every few months.
- Monzo wins for the new joiner (you get cash — typically £20, up to £100, both sides); Revolut's £50 is a guaranteed payout but only to the referrer, while its campaign is live.
- They are separate products — a current account versus an e-money wallet — with separate new-customer eligibility, so opening both is the value-maximising move.
| Monzo | Revolut | |
|---|---|---|
| Headline bonus | £20–£100 mystery (personal) · £50 business | £50 (referrer, flat) |
| Who gets paid | Both sides | Referrer (campaign-dependent) |
| Amount certainty | Mystery £20/£50/£100 personal · flat £50 business | Flat £50 (campaign-dependent) |
| Qualifying action | One card purchase within 30 days | New joiner orders a card + completes setup |
| Time limit | Ongoing | Time-limited campaign (rolls over) |
| Account type | Current account (FSCS-protected) | E-money / EMI wallet |
How the two bonuses actually work
Monzo runs a two-sided, ongoing refer-a-friend bonus: open a personal current account through an invite and both you and the referrer receive a mystery reward — a random £20, £50 or £100 (most land £20, but £50 and £100 come up) — once you make a single card purchase within 30 days. Open a Monzo Business account (sole trader or limited-company director) and it's a flat £50 each side. The personal reward is randomised as of June 2026; the business reward is fixed.
Revolut's programme is different in two ways. First, it pays a flat £50 to the referrer only — the new joiner isn't paid a fixed cash bonus. Second, it is time-limited: the £50 runs in a campaign window that rolls over every few months, after which the bonus usually reverts to a much smaller retail amount. Revolut accounts are e-money wallets, not FSCS-protected current accounts.
Which should you actually open?
If you want a two-sided bonus you actually keep, Monzo is the stronger pick: a mystery £20–£100 personal (typically £20) or a flat £50 business, for one small purchase, on a fully FSCS-protected UK current account. If you're the referrer and want a guaranteed flat figure rather than Monzo's typical £20 personal reward, add Revolut while the flat-£50 campaign is live — it pays the referrer £50 per qualifying friend who completes the four-step setup.
There is no reason to choose only one. The two are different products (a current account vs an e-money wallet) with separate eligibility, so opening both is the value-maximising move for most UK readers — Monzo for the certain two-sided bonus, Revolut for the flat £50 before its campaign expires.
Frequently asked questions
Is the Monzo or Revolut referral bonus bigger in 2026?
It depends who you are. Revolut pays the referrer a guaranteed flat £50, but it's referrer-only and runs in a time-limited campaign window. Monzo's bonus is two-sided and ongoing: on Personal it's a mystery £20/£50/£100 (typically £20, but it can hit £50 or £100), and on Business it's a flat £50 to each side. For a two-sided bonus you actually receive, Monzo wins; for a guaranteed flat £50 to the referrer, Revolut while its current campaign is live.
Can I claim both the Monzo and Revolut referral?
Yes. They are separate companies and separate products (a Monzo current account and a Revolut e-money wallet), each with its own new-customer eligibility. Opening both is the value-maximising approach for most UK users.
Do I get paid as the new customer on both?
On Monzo, both sides receive the bonus. On Revolut, the advertised £50 is the referrer's reward and is campaign-dependent — the new joiner's reward varies by the live campaign, so check the Revolut page for the current new-customer terms.
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Verified against each brand's own terms · 24 July 2026