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Can’t pay Monzo? What you can do

Behind with Monzo, or about to be? Here is what Monzo has to do when you are struggling, how to ask for help, and what happens if things go further.

Applies to: UK-wide

Written by The My Debt Cleared editorial teamLast reviewed 18 October 2026Next review 18 April 2027Jurisdiction UK-wideEditorial policy
If you are struggling to pay Monzo, contact it before you miss a payment and ask for help: a lower payment you can afford, interest and charges frozen or reduced, or time to get free advice. FCA rules require Monzo to consider these requests and to treat you fairly. Put any offer in writing, based on a budget, and if you are unhappy with how you are treated you can complain to the Financial Ombudsman Service.

What to do now

  1. Contact Monzo before a payment is missed.
  2. Ask for a lower payment and frozen interest, in writing.
  3. Get free advice if you have several debts.

About Monzo

Monzo is an app-based UK bank offering current accounts, overdrafts and loans.

Monzo appears on the FCA register (firm reference number 730427).

If you cannot pay Monzo

If your wages or benefits go into the account you are overdrawn on, the bank may use incoming money to reduce the overdraft. Consider opening a basic bank account elsewhere for your income, then ask the bank for a repayment plan and for charges and interest to be frozen.

Monzo’s own help page for customers in financial difficulty: https://monzo.com/help/overdrafts-loans/financial-difficulties.

FCA rules require lenders to treat customers in financial difficulty with forbearance and due consideration. That can mean reducing or suspending interest and charges, accepting lower payments for a period, or giving you time to get advice. Lenders do not have to agree to every request, but they must consider it.

What to do

  1. Contact Monzo before you miss a payment if you can.
  2. Work out what you can afford with the budget calculator.
  3. Put your offer in writing — the Letter Builder writes it for you.
  4. Ask for a 30-day hold while you get free advice if you need it.
  5. Keep a note of every call in the contact log.

If it goes further

If arrears build up, expect a notice of sums in arrears, then a default notice giving at least 14 days to put things right. After a default the account may be passed or sold to a debt collector. See the full timeline or find the collector in the debt collectors A–Z.

Complaining to Monzo

Complain to Monzo first. Its complaints page: https://monzo.com/help/legal-stuff/make-complaint-web. If you are not happy with its final response, or it has not replied within eight weeks, you can take the complaint to the free Financial Ombudsman Service — for example if the lender did not check you could afford the credit, or has not treated you fairly while you were struggling.

My Debt Cleared is not connected with Monzo. We are an independent information site and cannot see or change your account.

Sources for this page

You can get free, impartial debt advice

You never have to pay for debt advice. MoneyHelper (government-backed), StepChange, National Debtline and Citizens Advice all give free, confidential advice with no obligation.

Common questions

What happens if I can't pay Monzo?

Missed payments will be reported to the credit reference agencies and charges may be added. If arrears continue, Monzo will usually send a default notice and may pass the debt to a collector or take court action. Contacting it early usually leads to better options.

Will Monzo freeze interest?

It may. Lenders must consider freezing or reducing interest and charges for customers in financial difficulty, but they do not have to agree. Ask in writing and include your budget.

How do I complain to Monzo?

Complain to Monzo first. If you are not happy with its final response, or it has not replied within eight weeks, you can go to the Financial Ombudsman Service, which is free.

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