Major UK bank to ‘double the salary’ of customers in new monthly payday draw
Monzo launches new lucrative payday draw
- Digital bank Monzo is launching a "Double Payday" scheme, offering to match the monthly salary of ten account holders through a random draw.
- To be eligible, customers must have their weekly or monthly salary paid directly into their Monzo account by their employer using Bacs.
- The scheme, which will begin on 8 December, automatically includes customers who had their salary paid into their Monzo account by 30 November.
- Winners will have their prize automatically deposited, with a maximum cap of £10,000 on the matched salary amount.
- Monzo aims to compete with traditional high-street banks by enhancing the payday experience, alongside existing features like early pay access and the “Billsback” offer.