Monzo Business Banking
It just works, so you can too
Monzo Business Banking helps small businesses stay on top of their finances. Starting at no monthly fees.
Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.
What you need to know about Monzo Business bank accounts
Get better visibility and more control over all your money with a Monzo Business bank account. Less time on finances means more time for the important stuff.
We're a fully regulated UK bank
We're regulated by all the same rules as high street banks
Open a business account online, straight from your phone
Customers voted Monzo the 2022 Best Business Banking Provider (British Bank Awards)
24/7 customer support
You get the best of Monzo
Move money easily with free, instant UK bank transfers
Get notified the second you pay, or get paid
Set money aside, separate from your balance, with Pots
- Earn interest on savings with our Instant Access Savings Pot. Ts&Cs Apply.
Built for your business
Give customers simple ways to pay online
With Monzo Business Pro, connect your banking with your accounting tool (Xero, FreeAgent or Quickbooks) in the app
Manage your business account wherever you are, with mobile and web access
Use up to 5 separate virtual cards for each Pot you create, helping you control where you spend from with Monzo Business Pro
We're here to help, 24/7
How we help:
Chat to us in app any time, or call or email if you'd prefer
We'll answer your questions and help solve any problems you have
No need for branches, and no need to make an appointment
Simple pricing, no commitment
Simple pricing, no commitment
Built for business
Tax Pots
Integrated accounting
Multi-user access
Invoicing
Exclusive offers
6 months Xero free (optional)
Virtual Cards
Auto-exports
Connect other accounts
Mobile and web access
Payment links
Accept contactless payments (with Tap to Pay)
Easy bank transfers (free till 2025)Including the best of Monzo
24/7 customer support
Free, instant UK bank transfers
Instant Access Savings Pot
Pots to separate money
Instant notifications
Budget and categorised spending
Digital receipts
Sole trader loans and overdrafts (if eligible)
Outbound international payments
Inbound international paymentsPlus the essentials
Mobile signup and switching
Apple Pay and Google Pay
Manage scheduled payments
Pay in cash and cheques
Up to £85,000 FSCS protection on eligible depositsWe charge £1 to pay in cash at PayPoints and Post Offices across the UK. And for countries outside the European Economic Area, you can take out £200 cash for free every 30 days. After that, we charge 3%. These charges cover our costs for these services and everything else is included in the plan price. No hidden fees.
Put your spare money to work earning interest
Use Savings Pots to:
Put your spare money to work, earning 1.60% AER interest (variable) paid monthly with no minimum deposit and a maximum £100,000 balance (Ts&Cs apply)
Automatically set aside money for unplanned business expenses, a big purchase, or to reinvest in your business
Withdraw money instantly when you need it most
Choose what to set aside for tax
Use Tax Pots to:
Automatically set a percentage of your income aside when you're paid
Neatly separate your money, all in one bank account
Stop worrying about saving, and spend more time on your business
Only available on Monzo Business Pro for £5 a month
Get paid, the easy way
Target Tuition use a Monzo Business bank account to:
Create payment links or invoices in a few taps
Offer customers simple ways to pay by card or easy bank transfer
Save time on admin with all your payments in one place
Deposit your cheques using the app
Automate accounting with tools you already use
Integrate accounting tools like Xero, FreeAgent and QuickBooks to automatically share your balance and transactions every day with Monzo Business Pro.
If you use other tools, or don’t use any at all, you can easily export your transactions in CSV, PDF or QIF format whenever you want. We can also auto-export your transactions, statements and invoices to Google.
With Monzo Business Pro, new Xero users have the option to get 6 months of the cloud accounting platform free (terms apply). Learn more.
Loans for businesses
Eligible sole traders can get a loan up to £25,000. We can only offer you one loan across both your personal and business accounts. We don’t offer loans to limited companies.
Seeing if you’re eligible won’t leave a mark on your credit file. There are no lengthy forms to fill and no charges for paying us back early.
Our Representative APR for loans of more than £10,000 and up to £25,000 is 15.8% APR. For loans up to £10,000 it's 29.5% APR. The loan terms vary depending on the amount you borrow.
For Representative APR 15.8%: If you borrow £15,000 over 60 months, at a simple annual interest rate of 14.75% (fixed), the total amount you'll repay is £21,267.84.
For Representative APR 29.5%: If you borrow £2,000 over 24 months, at a simple annual interest rate of 26.3% (fixed), the total amount you'll repay is £2,588.75.
You need to be 18+ and must have a business account to apply. Ts&Cs apply.
Overdrafts for businesses
Arranged overdrafts can be ideal if you need to borrow a little extra money to tide you over every now and then.
Overdrafts are designed for short term borrowing, and they’ll cost you less if you pay them back quickly. Eligible sole traders could get an overdraft up to £2,000.
How does our overdraft compare?
Our Representative EAR is 39.0% (variable). Monzo does not apply charges for using your overdraft. The interest on your overdraft will be calculated daily on the overdrawn balance and added monthly. We offer three different rates of interest: 19.0%, 29.0%, or 39.0%. Most customers are offered 39.0%.
You need to be 18+ to apply. Ts&Cs apply.
Your questions, answered
Check if you're eligible
You can apply for a Business Bank Account if you're a UK based sole trader or director of a UK limited company.
Head to our eligibility criteria for more detail on businesses and industries we can and can’t support at the moment.
Your eligible deposits are protected
If you're a sole trader or a small business your eligible deposits may be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. 💰 To learn more about the businesses and deposits that are eligible, see here
Sign up straight from your phone
We’ll ask some questions about your business to see if you’re eligible.
If you have a Monzo Current Account, apply in your app. If you don’t have a Monzo Current Account, sign up in these 3 steps.
Let's talk business
Ideas for everything from getting started, to taking your business to the next level
We can now accept corporate-owned businesses 🎉
If your Limited Company has investment from other companies, you are now welcome to apply for a Monzo Business account!
Receive international payments into your Monzo account
Receive money from around the world. 40+ currencies converted to pounds, ready to spend.
Business Instant Access Savings are here 🎉
Introducing our all-new business Instant Access Savings Pot, grow your spare funds.
Cost of living: how we’re supporting you and your business
The cost of living crisis is affecting all of us in some way. We’ve been speaking to business customers about their experiences and worries, and we’ve summarised how we can help as the situation evolves.
Virtual Cards, explained - A new feature for Monzo Business Pro
Virtual cards are brand new to Monzo Business Pro. We designed virtual cards to help Business owners and members to stay in control of their business spend and spend safely online.
Business customers - you can now send money abroad
We’ve partnered with Wise to give you a simple, cheap way to send money abroad. Always using the real exchange rate, with no hidden fees.
Independent service quality survey results
Published August 2024
As part of a regulatory requirement, independent surveys were conducted to ask customers of the largest business current account providers in Great Britain if they would recommend their provider to friends and family. The results represent the view of customers who took part in the survey.