Monzo is giving customers a free bonus cash payment for Christmas

A major bank is giving customers free money for Christmas - if they refer a friend. Invite your friends to join Monzo and you'll both get £5, Monzo says, and share your link with everyone you'd like to invite and it'll give you and them £5 (as long as they sign up and make a card payment within 30 days).

Click the button on its website to get your unique refer a friend link. Share it with your friend. Your friend accepts the invite and applies for a Monzo account (within 30 days). Your friend makes their first card payment (within 30 days). You both then get £5.

On why to join Monzo, it says: "A UK current account: With savings, borrowing and overdrafts. Protection for your money: Your eligible deposits are protected by the FSCS up to a value of £85,000 per person. Fee-free overseas: Pay anywhere in any currency using your Monzo card, fee-free. We pass Mastercard’s exchange rate directly onto you, without sneaky fees or extra charges.

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Pots for separating money: Put money aside from your balance. 24/7 support: Through the app, if you need it. Instant notifications: See when, where and how you spend. Apple Pay and Google Pay: Spend using your phone. Spending categories: Get a clear view of your spending.

"Share your link with everyone you'd like to invite and we'll give you and them £5 (as long as they sign up and make a card payment within 30 days)." You’ll need your phone for the process, though, the financial provider goes on to say.

On its website, in a guide for how customers can do the referral, it goes on to explain to them: "Open the camera on your phone and scan the QR code, or tap the button below on your phone."