Ovo and Octopus agree switching deal with Monzo

Challenger bank Monzo has announced that it has launched a new feature that lets customers switch energy supplier in minutes, from the Monzo app. Monzo says the new app feature will give customers a quick, convenient way to get a good deal on their energy, and avoid paying more than they need to.

People can enter information about their home to get quotes, then choose a tariff and switch in a matter of minutes.

Customers can switch to two different energy providers: OVO Energy and Octopus Energy. Both companies offer renewable energy, good customer service and fair pricing. Customers can also pay for their energy through either their personal or joint Monzo accounts.

Tom Blomfield, CEO and co-founder, 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.”

Adrian Letts, CEO of Retail, OVO Energy said “We’re delighted to partner with Monzo and join their energy marketplace. Digital is at the centre of our offering for customers and has been right from the start. With more people using smartphones to access everything in their lives, monitoring and controlling your household energy use should be no different. Monzo customers who already enjoy a great digital banking experience can now easily switch to OVO Energy and benefit from our award winning customer service.”

Greg Jackson, CEO of Octopus Energy, said “We love working with innovators in other sectors to bring fair pricing to customers who’ve been ripped off for too long. Banking and energy have both failed to deliver value and service, but in energy the issue is even more urgent because we need to tackle climate change.”

“Octopus is determined to make energy both cheaper and greener, and we are thrilled to be working with Monzo to spread that message.”