Buy Bitcoin with Monzo

[✓] last verified 2026-01-28·Reviewed by BankToBTC Team

Data from bank docs & FCA registers · How we verify · Report an error

Crypto-friendly with £5K rolling 30-day limit.

Supported payment methods: faster-payments

Last verified: Jan 28, 2026

Top Exchanges for Monzo

• Kraken
• Coinbase
• eToro

Step-by-step guide to buying Bitcoin with Monzo

For Monzo users, the standard route is Faster Payments into an FCA registered exchange wallet. Our walkthrough makes it simple.

1. Pick an FCA-registered exchange
   Use an FCA-registered exchange so payments are more likely to succeed.
2. Create your exchange account
   Sign up and enable two factor authentication.
3. Complete identity verification
   Verify your identity so deposits are enabled.
4. Get payee details and reference
   Select Faster Payments and note the sort code, account number, and reference.
5. Send via the Monzo app
   Open Monzo, tap Payments then Bank transfer, add the payee, and confirm; stay under £5,000 rolling 30 days for crypto payments.
6. Wait for funds to arrive
   Faster Payments are typically instant, but new payees may prompt extra checks.
7. Purchase Bitcoin
   Buy BTC once your deposit is credited.
8. Secure your Bitcoin
   Withdraw BTC to a personal wallet if you want self custody.

Frequently Asked Questions

Can I buy crypto with Monzo?

Yes, but Monzo applies a fixed cryptocurrency allowance. Monzo sets a £5,000 rolling 30-day allowance for crypto payments, and some merchants like Binance have been blocked at times, so funding a regulated exchange by Faster Payments is usually the cleanest approach.

What exactly counts toward Monzo’s £5,000 rolling cryptocurrency allowance?

Monzo describes the allowance as covering crypto payments and it is set at £5,000 in a rolling 30-day period. If a payment would take you over the allowance, Monzo will not process it, and Monzo says it cannot change this allowance.

Where do I check Monzo transfer limits in-app, including the crypto limit?

In the Monzo app, go to your account, open Manage Account, then tap Limits to see your daily bank transfer limit and other caps. Monzo also notes that cryptocurrency payment limits cannot be increased.

Why does Monzo block Binance, and does that mean Coinbase will fail too?

Monzo has explained it blocked Binance in response to scam and fraud concerns. That does not automatically mean every exchange is blocked, but your payments still count toward the £5,000 rolling allowance and Monzo may stop payments that look risky.

Do Monzo Plus or Monzo Premium customers get a higher crypto allowance?

No. Monzo says the cryptocurrency allowance is fixed at £5,000 in a rolling 30-day period and it cannot be changed. Upgrading plans does not remove that specific control.

How fast do Monzo Faster Payments land at exchanges, and why do exchanges sometimes take longer?

Faster Payments are designed for near real time transfers, but exchanges can still apply internal checks before crediting your trading balance. If your exchange asks for additional verification on the first deposit, that is normal and separate from Monzo’s send time.

Evidence & Verification

This page references 4 sources: Monzo Crypto Allowance, Monzo Binance Block, Monzo Account Limits. Information was compiled from official sources and user reports.

Sources:

• Monzo Crypto Allowance
• Monzo Binance Block
• Monzo Account Limits
• FCA Cryptoasset Register

How we verify · Report an error

Information can change without notice. Always verify current policies directly with your bank and exchange before making transactions.