Eligibility
Check if you're eligible for a business account
Only sole traders or limited company directors in the Republic of Ireland can apply.Ts&Cs apply .
Check if you’re eligible for a business account
You can get the time-saving magic of Monzo Business for up to three of your businesses, subject to the eligibility criteria below and our usual Terms & Conditions
Here’s a summary of businesses and industries we can and can’t support at the moment. We’ve been as transparent as we can about why. And we’ll review this on an ongoing basis, as we understand more about how customers use our accounts.
If you meet this criteria you can apply for a Monzo Business account, but it doesn’t guarantee that you’ll get an account
Business types we support right now
You can apply for an account if you’re:
a sole trader, or the director of a private company limited by shares (LTD Company),
based in the Republic of Ireland,
at least 16 years old and
If you’re a limited company, to be eligible your company needs to:
have a normal status recorded on the Companies Registration Office Register(we can’t support dormant or insolvent companies),
have an active company director (not disqualified or restricted) listed against your Company’s entry with the Companies Registration Office,
are compliant with its registration and ongoing filing obligations to the Register of Beneficial Owners,
make money mostly from selling goods and/or providing services, not mostly from interest or investment income,
be a tax resident in the Republic of Ireland, and no other countries
If you’re a limited company, we’ll also verify any ultimate beneficial owners in your business when you sign up. The ultimate beneficial owners of your company, identified by you, should match the beneficial owners recorded in the Register of Beneficial Owners. Making sure that the company’s records on the CRO & RBO are accurate and up to date helps us with the onboarding process.
Business types we can’t support right now
Partnerships, including Limited Partnerships(LP) and Limited Liability Partnerships (LLPs)
Designated activity companies (DAC)
Companies Limited by Guarantee (CLG), including charities
Unlimited Companies (UC)
Investment Firms
Public Limited Companies (PLC)
Trusts or funds
We might offer accounts to these business types in future but it’s not in our plans at the moment. That’s because we have to gather and store different information on these customers, and there are different rules around how these types of accounts need to be operated.
Sole traders and limited companies make up around 90% of Republic of Ireland businesses, so we’re focusing on supporting them at the moment.
Other reasons we can’t support you
If your business is based, registered, or a tax resident outside of the Republic of Ireland we can’t offer you an account right now. You'll also need to make sure you're in the Republic of Ireland and you're not using a VPN when you apply, so it doesn't seem like your business is based abroad.
And we don’t allow people to use Monzo Business as a client trust account. That means someone holding client or customer money in their account, on behalf of someone else, like solicitors.
Industries we can’t support, no matter your business type
Certain industries have higher risks, where we need to put extra checks and controls in place. We’re currently focusing on industries that don’t need these.
In future, we might offer accounts to some of these industries but we appreciate this is disappointing for some businesses at the moment.
Currency exchanges including virtual currencies, and money services business.
mining and quarrying.
Defence and weapons.
Consumer credit or lending money.
Dating or escort services.
Precious metals and stones (like jewellery).
Probate and estate management.
Gambling and betting.
Weapons manufacturing and/or selling.
Unlicensed scrap metal.
Unregistered waste management.
Shell companies.
Illegal or unlicensed drugs.
Used automotive vehicles.
Bidding fee auctions.
Regulated or unregulated financial investment, loan, foreign exchange (FX) or banking businesses.
Selling or making cannabidiol products (CBD), like cannabidiol oil.
Certain types of manufacturing.
Financial and insurance activities.
Public administration and defence, and compulsory social security. That includes things like defence, immigration services, foreign affairs and running government programmes.
Activities of extraterritorial organisations and bodies. That’s companies like the UN, involved in getting peaceful relations among nations, providing human needs and humanitarian aid, or regulating international trade.
If your industry isn’t mentioned above, you can apply for a business account. But a heads up: we might not accept businesses in other industries if we don’t think it’s appropriate to.
If your business uses lots of cash, we might not be the right account for you
You can’t lodge cash into your account right now but we know this is important to businesses so we’re working on it.