Monzo reveals new energy supplier switching feature

The digital bank has teamed up with OVO Energy and Octopus Energy that will allow Monzo users to swiftly switch energy suppliers.

Monzo has launched a feature that lets customers switch energy supplier.

Users of the digital bank will be able to enter key information about their home to get quotes, choose a tariff and switch in a ‘matter of minutes’, through the Monzo app.

The new service will initially allow customers can switch to two different energy providers: OVO Energy and Octopus Energy. Both companies offer renewable energy .Customers can pay for their energy through either their personal or joint Monzo accounts.

Tom Blomfield, CEO and cofounder, Monzo said: “We want to help take the hassle out of finding a fair deal, and switching suppliers when you do. By working with Octopus Energy and OVO Energy, Monzo customers will be able to conveniently access fair energy tariffs that come with quality customer service.”

Monzo says it is the fastest growing bank in the UK, with 35,000 users opening Monzo accounts every week and more than 1.9 million people using Monzo’s current account at the moment.