Monzo has today launched a new cashback feature where customers will get money back on their spending.

Cashback will be available when customers use their Monzo card to make a purchase at retailers including Asda, Boots, H&M, eBay, Disney+ and Deliveroo. Shoppers will typically get between 2% and 10% cashback - but in some cases, it can be as high as 35%. The money you get back is automatically moved to a separate pot in the Monzo app.

You'll need to activate the cashback feature first in the Monzo app - once you’ve activated it, cashback will then be applied automatically. Monzo customers will be alerted to new offers from retailers when they become available, with new cashback deals updated monthly.

The cashback feature will be rolled out to all customers by early December. It follows a small trial earlier this year. Kunal Malani, General Manager at Monzo, said: “We know that in the current climate, more and more people are looking to money-saving solutions such as cashback, as a way to make their hard-earned cash go further.

“But it’s difficult to find a model that doesn't have a complicated redemption process or one that offers cashback on brands people truly love. Our cashback offering plugs this gap in the market, giving customers real-time visibility on their rewards, with access to some of the nation’s most-loved merchants in food, retail, transport and entertainment. We look forward to helping customers earn cashback, on their everyday spend, with ease.”

List of retailers available with Monzo cashback

  • Asda
  • Boots
  • Currys
  • Deliveroo
  • Disney+
  • eBay
  • Foot Locker
  • Franco Manca
  • Gousto
  • Honest Burger
  • H&M
  • Krispy Kreme
  • Leon
  • National Express
  • LNER
  • NOW Broadband
  • Virgin Media
  • Yo! Sushi

It comes after Monzo introduced a “call status” feature to help protect people from scammers. If the person on the other end of the line is from Monzo, then the “call status” should show as “talking to you now”.

But if the “call status” shows Monzo is not on the phone to them, the customer is urged to hang up and report the attempted fraud. You can find the “call status” feature by clicking on your profile in the top left of the home screen of the app, then by clicking on "Settings" and then "Privacy and Security".

If you suspect a scammer is calling you, hang up immediately and search for the contact details online of the place you're supposedly being called from. Never call back the number provided by the caller.

Contact your bank straight away if you think a fraudster has got access to your account. You can call the 159 hotline, which will connect you to your bank.