Monzo renews exclusive deal with PayPoint

Monzo debit card

Challenger bank Monzo has renewed its exclusive deal with PayPoint to provide cash deposit solutions for account holders.

Monzo customers can deposit up to £300 in cash directly into their accounts in a single transaction, and a maximum of £1,000 over six months, at the stores of PayPoint’s partners.

Monzo was founded in 2015. The renewal of the PayPoint partnership gives its 3.6m customers access to a network of stores bigger than all banks, post offices and supermarkets combined.

Lewis Alcraft, Chief Commercial Officer at Paypoint, said: “We are thrilled to grow our partnership with Monzo to benefit its customers across the UK. We will continue to offer its digital-only customers the benefits of physical-world convenience – it’s about giving people more control and making life easier. Monzo account holders can continue depositing cash in their local convenience stores, early ‘til late, seven days a week.”