Monzo launches mobile network

Monzo has soft-launched an eSIM mobile network powered by Virgin Media O2.

While full details are still emerging, the group confirmed that plans start at £8 a month and include a 5% annual loyalty discount that compounds to 30% off over time.

The digital bank follows Revolut into the UK mobile market, joining a small but growing list of fintechs layering telecoms onto their existing app experience.

Monzo will run its service on O2’s national 4G and 5G network, with international roaming handled by 1GLOBAL. Its existing base of 14 million UK customers gives the bank a built-in addressable market for a launch that is currently listed as waitlist only on the Monzo Mobile page.

Promotional material positions the product as “simple, flexible and rewards staying, not switching”, with a full commercial launch set for summer 2026 and no precise date confirmed.

Three tariffs are on offer at launch, all sold direct through the Monzo app on eSIM.

The entry plan costs £8 a month for 10GB of data, the mid-tier £12 for 30GB, and the top tier £20 for unlimited data. All three include unlimited calls and texts, hotspot use, Wi-Fi calling, and the option to switch plans or cancel at any time.

The £12 tier adds 10GB of EU roaming, with coverage extended to 11 additional countries, plus 60 international minutes per month.

The £20 plan increases the EU roaming allowance to 25GB. Customers who stay on the service receive 5% off the monthly price each year, capped at a 30% lifetime discount, which Monzo says comes with no hidden fees or surprise charges.

“Monzo Mobile is a natural extension of our mission to make money work for everyone. By bringing mobile connectivity into the Monzo app through a simple eSIM experience, we’re giving customers more visibility and control over another essential part of their everyday spending.

“Partnering with 1GLOBAL and Virgin Media O2 allows us to deliver a reliable, flexible and high-quality service, while continuing to build products that are simple, transparent and designed around our customers’ needs,” said Duygu Yenidogan-Schmidt, GM of Core Banking at Monzo.

“This partnership underlines the strength of the O2 network and our position as the UK’s trusted host of choice for MVNOs. Our unrivalled record helping partners launch and scale, alongside continued investment to upgrade and expand our mobile network, will enable us to support Monzo Mobile with ever-improving services,” said Paul O’Sullivan, Director of Wholesale Mobile at Virgin Media O2.

Monzo’s loyalty discount sits in contrast to a sector where mid-contract price increases have drawn sustained Ofcom scrutiny in recent years.

The bank’s offer reverses that model by reducing the headline price for staying customers rather than raising it, leaning on the existing trust and engagement of its 14 million account holders as its primary route to market.

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