What happens to my Monzo account when I downgrade?

Downgrading to the free plan keeps your Monzo current account, card, and all core banking features fully intact. You'll lose premium perks like higher fee-free ATM limits abroad, travel insurance, and the metal or holographic card.

Will my standing orders and Direct Debits be affected?

No — downgrading your plan does not affect any standing orders or Direct Debits set up on your Monzo account. All scheduled payments will continue as normal.

Can I upgrade back to Monzo Plus or Premium later?

Yes, you can upgrade back to Plus or Premium at any time from the Account tab in the app. Your account history and pot balances will remain untouched.

How to Cancel Monzo (2026)

Monzo plans start from $0.00/month. Follow our 5-step guide to cancel your subscription in about 3 minutes — with tips to avoid retention offers.

Updated: March 2026

from $0.00/month

Easy

Estimated Time:3 minutes

Cancel Method:App

Open the Monzo app

Launch the Monzo app on your smartphone and ensure you are logged in.

Go to the Account tab

Tap the 'Account' tab at the bottom of the screen to view your account details.

Tap on Monzo Plus or Premium

Find the 'Monzo Plus' or 'Monzo Premium' section and tap on it to manage your subscription.

Downgrade to the free plan

Tap 'Downgrade' or 'Cancel subscription' and select the free Monzo plan. Your paid benefits will remain active until the end of the current billing period.

Confirm downgrade

Review the features you'll lose and confirm the downgrade. Monzo will send you a confirmation notification in the app.

Retention Tips

Before you go, it's worth knowing that downgrading to the free Monzo plan still gives you the full current account experience — instant notifications, spending analytics, savings pots, and your Monzo card. You'll only lose the premium extras. If the monthly cost is the issue, the free plan is a great way to stay with Monzo at no charge. Would you like to switch to the free plan instead?