Score of 89.43/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2025 - 31 Mar 2026 | 30 Apr 2026 | 32 | 59% | 29% | 12% | 46% |
| 01 Apr 2025 - 30 Sept 2025 | 31 Oct 2025 | 17 | 86% | 12% | 2% | 27% |
| 01 Oct 2024 - 31 Mar 2025 | 30 Apr 2025 | 14 | 92% | 7% | 1% | 22% |
| 01 Apr 2024 - 30 Sept 2024 | 30 Oct 2024 | 17 | 88% | 11% | 1% | 26% |
| 01 Sept 2023 - 31 Mar 2024 | 01 May 2024 | 16 | 89% | 10% | 1% | 24% |
| 01 Mar 2023 - 31 Aug 2023 | 28 Sept 2023 | 21 | 82% | 16% | 2% | 30% |
| 01 Sept 2022 - 28 Feb 2023 | 30 Mar 2023 | 27 | 74% | 21% | 5% | 35% |
| 01 Mar 2022 - 31 Aug 2022 | 29 Sept 2022 | 25 | 76% | 21% | 3% | 36% |
| 01 Sept 2021 - 28 Feb 2022 | 01 Apr 2022 | 26 | 71% | 26% | 3% | 35% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 24 | 83% | 14% | 3% | 21% |
| 01 Sept 2020 - 28 Feb 2021 | 22 Mar 2021 | 25 | 82% | 16% | 2% | 29% |
| 01 Mar 2020 - 31 Aug 2020 | 28 Sept 2020 | 23 | 80% | 19% | 1% | 39% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Monzo has standard payment terms of 30 Days. Certain Suppliers however have agreed terms of immediate, 7, 14 & 15 days - This equates to approximately 20% of the supplier population, the remainder are on the standard 30 day terms.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Monzo Finance, Procurement and Business collectives work collaboratively with Suppliers to resolve any Supplier Invoice or payment disputes. We have a dedicated Accounts Payable team who oversee invoice payments. Payment queries can be emailed directly to uk-accounts-payable@monzo.com. If required, issues are escalated to the business contact responsible for managing that supplier. Where there is any written dispute on the amount of an invoice, Monzo will pay any undisputed amount and the Parties will seek to resolve that dispute as quickly as possible.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
MONZO BANK LIMITED is a UK-based financial institution that offers digital banking services to its customers. Founded in 2015, the bank has quickly gained popularity among users for its innovative approach to banking.
The bank's sustainability program focuses on reducing its carbon footprint and promoting environmentally friendly practices. As part of this, MONZO BANK LIMITED has introduced a paperless banking system and uses renewable energy sources to power its operations.
The bank offers a range of products and services to its customers, including current accounts, savings accounts, and loans. It also provides a budgeting tool and a savings feature to help customers manage their finances more efficiently. MONZO BANK LIMITED also offers mobile banking services, making it convenient for customers to access their accounts on-the-go.
The key people at MONZO BANK LIMITED include Tom Blomfield (CEO), Gary Dolman (CFO), and Valentin Stalf (Chairman). They bring a wealth of experience and expertise to the bank's operations.
Customers can contact MONZO BANK LIMITED through their website, which also serves as a platform for managing their accounts. The registered office address of the bank is 38 Finsbury Square, London, EC2A 1PX, United Kingdom.
In conclusion, MONZO BANK LIMITED is a sustainable and innovative digital bank that offers a range of products and services to its customers. With a strong leadership team and a commitment to environmentally friendly practices, the bank is set to continue its growth and success in the UK banking industry.
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