Banking Challenger Monzo Partners with RAC to Give Monzo Plus and Premium Clients Breakdown Cover from £5/Mth

Monzo, a UK-based digital bank that recently raised £50 million as part of a Series G extension, reveals that it has a new special offer, “exclusively for Monzo Plus & Premium customers.”

The Monzo team writes in a blog post that they know you are “chomping at the bit to hit the road.” The banking challenger points out that their team has “never wanted to jump in the car to see friends and family more than we do right now, and we all have our fingers crossed that moment isn’t too far away.”

Monzo added:

“We want to make sure that when you do dust off your car and take off on your first adventure, you can do it with peace of mind that, if anything goes wrong, you’ll be looked after. So we’ve partnered with the RAC, the UK’s original breakdown provider, to give Monzo Plus and Monzo Premium customers complete breakdown cover from £5 a month.”

The challenger bank further revealed that you’ll also be getting “free” Legal Care Plus, “giving you access to up to £100,000 motor legal expenses cover should you need it.”

As explained by Monzo, RAC is the United Kingdom’s original breakdown provider – you may recognize their orange vans, the digital bank adds while noting that they “fix 4 out of every 5 breakdowns they are called out to at the roadside, in around 30 minutes.” Last year, even though we might have all been stuck inside due to COVID-related lockdowns, RAC reportedly “rescued 2.2 million customers who had broken down.”

Monzo adds that if your car happens to break down while you’re home or on the road, the RAC’s local, expert patrols “arrive to save the day.” Complete breakdown cover begins as low as £5 a month and includes roadside and home rescue, garage support and alternative transport “if you need it,” Monzo confirmed while adding that there are “no hidden costs to worry about, all labour and fitting costs are included.”

The UK-based digital bank also noted that if you have an accident “that’s not your fault, Legal Care Plus helps you claim back losses your car insurance doesn’t cover.” Monzo further noted that this is “worth £15 as a standalone product, but is available totally free to Plus and Premium customers.”

Tom Davies from Monzo adds that if you would like to get breakdown cover via their partnership with the RAC, you’ll first have to sign up to Monzo Plus (£5 a month) or Monzo Premium (£15 a month).

Davies explained:

“Monzo Plus helps you to get full financial visibility, with your other bank accounts and credit cards all in one place, as well as interest on your money, personalised budgeting and so much more. Monzo Premium comes with everything in Monzo Plus, and includes a metal card, worldwide phone and travel insurance, higher interest and much more. …If you have Monzo Plus or Monzo Premium, head to the app (then click ‘Offers’) to find and use the offer now.”

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