Business Accounts & FSCS protection
The Financial Services Compensation Scheme (FSCS) applies to your Business Account too if you have one 👍
Depending on how many people you share your business account with, it's counted slightly differently.
If you share a Business Account with another person(s), then you'll split the balance and that will go towards your limit.
Here's an example:
If you have £10,000 in a Business Account, but you share that account with another person, then £5,000 will count towards your FSCS protection.
If you had another £10,000 in your Current Account, then you'd be using £15,000 by that point.
Tap the link here to find out more on Monzo for Business! 😊
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