I’m always on the lookout for ways to make a quick and easy bit of cash, so when I hear that Monese were giving away free cash, I had to investigate.
If you’re a follower of My Money Cottage, then you’ll know that I am a big fan of savings apps – they allow you to save small amounts of money regularly, building up a great bank of savings without feeling the pinch. Some of them offer really competitive interest rates and incentives too.
Monese is a little different from the other apps that I use.
Monese is actually a current account app rather than a savings app and you won’t earn any interest on any money kept in your account. But, there is free cash available for those of us who decide to open a Monese account. Make sure you keep reading to find out how to claim your money.
Monese is an online only bank, with no physical branches. Monese exists purely in app form making it a revolutionary way to manage your cash on the go.
As with many banks, there are a few different types of current account available:
For most of us, the free account will be fine. Note that if you do want a debit card, you’ll be charged £4.95 for this, but if you’re happy just to have some cash in there that you can transfer in and out as you need to, then you won’t pay anything.
How to get £5 free cash (and more)
In order to get £5 credited to your account, you will need to open your Monese account using a referral code. Here’s mine:
Make sure you choose the starter account which is the free one, and remember not to order a card as they charge for this.
Once you’ve done that, you will need to make a deposit of £10 into your Monese account. I found the easiest way to do this was to do a bank transfer. Making a card payment seemed to be a little glitchy when I tried.
Once you’ve done that, you’ll need to wait a few hours for your free £5 to be credited. Monese state up to 48 hours, but mine arrived in my account within 3 hours.
You can also get an extra £10 cash for everybody that you then refer to Monese using your own referral code.
You’re free to move the cash out of your Monese account at any time, it really is free money!
You can download the app here.
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