Under current UK law, employers only have to offer parents paid leave if they lose their baby after 24 weeks – the point after which it is considered a stillbirth – but Monzo will offer the leave to those who lose a baby at any point during pregnancy.
The bank said: “This also includes colleagues who are partners or surrogate mothers, recognising that pregnancy loss doesn’t just affect women or heterosexual couples.”
Managers can also approve extra leave if they feel the staff member requires more than two weeks.
The Guardian reports the news was announced quietly two months ago following the departure of founder Tom Blomfield who stepped down in January after struggling with his own stress and anxiety levels.
In March this year, New Zealand became one of the first countries in the world to offer support to couples who experience child loss – at any stage of their pregnancy.
Those who miscarry or have a stillbirth are now entitled to three days of paid leave, regardless of how far along they were.
Monzo bank is also offering an extra eight days of paid fertility leave each year to employees who are undergoing fertility treatments, diagnosis or consultations.
The leave can be used for a range of purposes including recovering from the emotional impact of treatment, attending appointments and rest after a procedure.