Monzo vs Revolut referral code: which is worth more in 2026?
For a two-sided bonus you actually receive, Monzo wins: £10 to each side on Personal, 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 £10 on Personal, 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 — £10 on Personal, £50 on Business, 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 | £10 personal · £50 business | £50 (referrer, flat) |
| Who gets paid | Both sides | Referrer (campaign-dependent) |
| Amount certainty | Flat £10 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 £10 each once you add money and 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. Through the HonestCodes link both figures are fixed, under Monzo's Business Banking Referral Scheme terms of 13 August 2026.
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: £10 personal 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 £10 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 £10 each, 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 · 22 October 2026 · Checked by Bez, Editor-in-Chief