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
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.
A fully regulated UK bank
With a Monzo Business Account, you can:
- Get a business debit card (for all users)
- Move money easily with free, instant bank transfers (UK only)
- Manage your Direct Debits in one place
I can spend more time doing the things I enjoy, which is why I started my business in the first place.
Monzo has made business banking so easy I can concentrate on building my brand.
How we compare with other banks
Full UK current account with debit card
Instant UK bank transfers
Unlimited, fee-free UK bank transfers
100% mobile sign up
Mobile and web access
FSCS protection on eligible deposits
24/7 customer support
Fee-free spending abroad
Apple Pay/Google Pay
Pots to separate money (and Tax Pots)
Budgeting, categorised spend, digital receipts
Pay in cash and cheques
Exclusive offers (like 6 months free Xero)
Loans and overdrafts (including lending marketplace)
Outbound international payments
Inbound euro payments
Business banking that keeps getting better
Here's what we've recently buit because of your feedback.
Multiple business accounts
Manage finances for more than one business, all through Monzo.
Add collaborators access
Add team members to your account as a collaborator or admin
Take your business to the next level by receiving euro payments.