Millions of Britons could have their monthly bills covered by their online bank in an exciting new rewards scheme. Monzo, the digital bank with over 13 million customers, is running a feature called Billsback that randomly selects subscribers to have their bills paid for them.
How Does Monzo's Billsback Work?
The process is surprisingly straightforward for customers. Monzo automatically enters eligible bills into a monthly random draw, where at least 1,000 bills are paid back each month. If your bill is selected, the amount - up to £150 per bill - is automatically refunded to your account without any action required on your part.
To qualify for this potential financial boost, customers must hold either a Monzo Extra, Perks, or Max subscription. Any bill over £1 from approved providers that's paid directly from your personal Monzo account is eligible for the draw. This includes payments made by both BACS Direct Debit and Mastercard card payments.
Which Bills Are Eligible For Payment?
The range of eligible bills is extensive, covering most household essentials and popular subscriptions. The comprehensive list includes:
Utilities: Major providers like British Gas, EDF Energy, E.ON Next, Octopus Energy, Thames Water, and Scottish Power are all included.
Streaming Services: Your Netflix, Amazon Prime Video, Disney+, Spotify, and NOW TV subscriptions could all be covered.
Mobile and Broadband: Providers such as BT, Sky, Virgin Media, Vodafone, O2, and Three are part of the scheme.
Insurance: Many major insurers including Aviva, Direct Line, Admiral, and BUPA are eligible.
Health and Wellness: Gym memberships at PureGym, The Gym Group, David Lloyd Clubs, and Nuffield Health could be paid for.
Joint Accounts and Important Details
For joint account holders, the rules are equally generous. Only one account holder needs an eligible subscription for joint bills to be entered into the draw. However, if both partners are subscribers, they both need to be opted into Billsback for their bills to qualify.
The feature represents a significant potential saving for regular Monzo users, particularly as it covers such a wide variety of essential services that most households already pay for. With the cost of living remaining a concern for many, this initiative provides a welcome opportunity for financial relief.
Customers can check the full, up-to-date list of eligible providers directly within their Monzo app to see exactly which of their regular payments could be refunded through this innovative scheme.
