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)
- Award-winning customer support, 24/7
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
- Connect accounting tools so everything's in one place
- Manage your business account wherever you are, with mobile and web access
- Use separate virtual cards for each Pot you create, helping you control where you spend from
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
"It's nice to know when you've been paid. You know what's gone out, what's gone in, instantly."
Sally and Chris use instant notifications to:
- Know when they're paid right away
- Keep track of their spending
- Stay on top of their invoices
Simple pricing, no commitment
|Built for business|
Choose a percentage to automatically set aside for tax, every time you’re paid.
Integrate with Xero, FreeAgent, QuickBooks or export your transactions and statements.
Manage finances with others by adding up to two people to access the account. Available for limited companies and sole traders.
Create, send and track invoices, in the app and on the web.
Save time and money with offers for your business.
6 months Xero free (optional)
New users: get the cloud accounting platform for 6 months free. up to £280 value. T&Cs apply.
Use virtual cards to spend from your main account or for each Pot you create, helping you control where you spend from
Choose to auto-export your transactions or statements. We’ll add your transactions to a Google Sheet as they happen, and add your Statements to Google Drive monthly, so you can get to know your money better.
Mobile and web access
Manage your money at home, in the office and on the go.
Card payments with Stripe
Let customers pay by card or Apple Pay & Google Pay.
Easy bank transfers (free till 2024)
Let customers pay straight from their bank – no need to type out payment details.
Business debit card
Complete with a pebble grey or slate grey finish.
24/7 customer support
Award-winning, human help in the app, 24/7.
Free, instant UK bank transfers
Send and receive UK bank transfers, fee-free.
Instant Access Savings Pot
1.60% AER (variable) Interest paid monthly, no minimum deposit, maximum £100,000 balance, Ts&Cs apply
Pots to separate money
Neatly separate your money to suit your business, all in one account.
Get notified the second you pay, or get paid.
Budget and categorise spending
Break down your spending with monthly budgets and transaction categories.
Add receipts to payments while you’re on the go.
Sole trader loans and overdrafts
Overdrafts up to £2,000 and loans up to £25,000 for eligible sole traders. Our representative APR for loans is 14.8% for more than £10,000 up to £25,000. For loans up to £10,000 it’s 29.6%. For overdrafts our representative EAR/APR is 39.0%.Ts & Cs Apply.
Outbound international payments
International transfers to 70+ countries. Powered by Wise.
Inbound euro payments
For euros you get through the Single Euro Payments Area (SEPA) credit transfer scheme. Fees apply.
Full UK Business current account
Because we're a UK fully regulated bank.
Mobile signup and switching
Open a full bank account from your phone. Switch from your old bank, hassle-free.
Apple Pay and Google Pay
Pay with your phone, on the go.
Fee-free spending abroad
We don’t mark up the exchange rate, unlike most other banks.
Manage scheduled payments
Keep track of all your scheduled payments in one place.
Pay in cash and cheques
Post cheques to us for free. Pay in cash at PayPoint for £1, up to £1,000 every 6 months.
£85,000 FSCS protection (if eligible)
So your money’s protected, just like the high street.
Payment approval and card freezing. Plus fingerprint, face and PIN protection.
Simple pricing, no commitment
|6 months Xero free (optional)||Yes||No|
|Mobile and web access||Yes||Yes|
|Card payments with Stripe||Yes||Yes|
|Easy bank transfers (free till 2024)||Yes||Yes|
|Business debit card||Yes||Yes|
|24/7 customer support||Yes||Yes|
|Free, instant UK bank transfers||Yes||Yes|
|Instant Access Savings Pot||Yes||Yes|
|Pots to separate money||Yes||Yes|
|Budget and categorise spending||Yes||Yes|
|Sole trader loans and overdrafts||Yes||Yes|
|Outbound international payments||Yes||Yes|
|Inbound euro payments||Yes||Yes|
|Full UK Business current account||Yes||Yes|
|Mobile signup and switching||Yes||Yes|
|Apple Pay and Google Pay||Yes||Yes|
|Fee-free spending abroad||Yes||Yes|
|Manage scheduled payments||Yes||Yes|
|Pay in cash and cheques||Yes||Yes|
|£85,000 FSCS protection (if eligible)||Yes||Yes|
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*
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
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, easily export a file of your transactions or statements (CSV, PDF or QIF) whenever you need to. We’ll never share your data with anyone else unless you agree to it, or ask us to.
With Monzo Business Pro, new Xero users can get 6 months of the cloud accounting platform free (terms apply). Learn more.
Loans and overdrafts for businesses:
Eligible sole traders can get an overdraft up to £2,000 or a loan up to £25,000. We can only offer you one loan and one overdraft across both your Personal and Business accounts.
We don't offer loans or overdrafts 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 is 14.8% for more than £10,000 up to £25,000. For loans up to £10,000 it’s 29.6%. For overdrafts our representative EAR/APR is 39.0% (variable). You can use the APR to compare the cost of different borrowing products.
"The team has access. We know who paid what and when. Monzo's allowed us to have transparency."
The Malt Films team uses multi-user access on Monzo Business pro to:
- Manage their finances together
- Improve visibility across the business
- Split up their workload, especially if someone's away
Meet the people behind the businesses
Monzo Business lets them get on with what they love: running their business.
Your questions, answered
Check if you're eligible
You can apply for a business bank account if you’re a sole trader or a registered limited company by shares (Ltd), based in the UK, and if you're an Ltd also a tax resident only in the UK.
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
Let's talk business
Ideas for everything from getting started, to taking your business to the next level
Independent service quality survey results
Published August 2023
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.
Everything you need to know about starting a business, business banking and Monzo business features
Take a look at our blogs and articles covering everything from why you need a business account, to running a successful business, making hires and everything inbetween.