How Much Does Monzo Premium Cost in the UK?
Monzo Premium costs £15 per month and includes everything in Monzo Plus, a metal debit card, worldwide travel insurance, phone insurance, and airport lounge access. According to Monzo, Premium subscribers use their accounts more actively and maintain higher balances than free or Plus users.
| Feature | Monzo Free | Monzo Plus (£5) | Monzo Premium (£15) |
|---|---|---|---|
| Metal card | No | Holographic | Metal |
| Travel insurance | No | No | Worldwide family |
| Phone insurance | No | No | Up to £1,000 cover |
| Credit score | No | Yes | Yes |
| Savings rate | Variable | 1% (up to £2K) | 1.5% (up to £2K) |
| Airport lounges | No | No | 6 per year |
The travel insurance alone is typically worth £5-10/month if purchased separately, making Premium reasonable value for frequent travellers.
Compare all options on our UK Finance subscriptions page.
Does Monzo Premium Auto-Renew?
Yes, £15 is charged monthly from your Monzo account. Check in the Monzo app under Account > Monzo Premium.
How to Cancel Monzo Premium in the UK
Open the Monzo app > Account > Monzo Premium > Cancel. You can downgrade to Plus (£5) or Free. Your metal card continues to work as a standard card. Insurance coverage ends at cancellation.
See also our guides to Monzo Plus UK subscription and Revolut Premium UK subscription.
Is Monzo Premium Worth It in 2026?
Premium is worth it if you travel internationally 2+ times per year and need phone insurance. The travel insurance and airport lounges can save more than £15/month for active travellers.
| Pros | Cons |
|---|---|
| Worldwide family travel insurance included | £15/month is expensive for a bank add-on |
| Phone insurance up to £1,000 | 1.5% savings rate is still below best-buy |
| 6 airport lounge visits per year | Insurance has exclusions — read the policy |
| Metal card feels premium | Revolut Metal offers similar for £12.99 |
| All Plus features included | Unnecessary if you already have travel insurance |
Revolut Metal at £12.99/month offers similar benefits with better exchange rates. Monzo Premium's advantage is integration with the Monzo banking experience you may already use daily.
Track Your Monzo Premium Subscription with Prunely
Prunely lets you add Monzo Premium to track monthly charges. Track alongside all subscriptions — no bank connection needed. Prunely is free for up to 5 subscriptions.
Frequently Asked Questions
How much does Monzo Premium cost?
Monzo Premium costs £15/month charged from your Monzo account. Cancel any time. Includes all Plus features plus travel insurance, phone insurance, metal card, and airport lounges.
Does Monzo Premium include travel insurance?
Yes. Worldwide family travel insurance is included covering medical expenses, cancellation, baggage, and more. Check policy terms for exclusions and limits.
Is Monzo Premium better than Revolut Metal?
Both offer similar features. Revolut Metal at £12.99/month has better exchange rates. Monzo Premium integrates better if you already bank with Monzo. Compare insurance coverage terms directly.
How do I cancel Monzo Premium?
Open the Monzo app > Account > Monzo Premium > Cancel. Downgrade to Plus or Free. Insurance ends immediately. Metal card works as standard. Use Prunely to track billing.
Can I downgrade from Premium to Plus?
Yes. Downgrade in the Monzo app. You keep Plus features (credit score, custom categories) at £5/month. Travel insurance, phone insurance, and lounge access are removed.