Monzo Business: Verifying beneficial owners
A beneficial owner is someone who owns more than 25% of the shares or voting rights in your business. They might also be called a major shareholder or a person with significant control. We may need to check their identity to complete your account opening.
If we ask for a beneficial owner’s ID, it’s important to send it to us. If we don’t receive it, we may not be able to open the account — and in some cases we may need to close it.
What we’ll need for verification
A valid photo ID (for example: passport, driving licence, or national ID card)
Date of birth
Country of residence
Home address
Email address
Phone number
You’ll also need to confirm that they’ve agreed to share this information.
If they’re already a Monzo customer
That’s helpful — in some cases we can verify them without needing anything else from you.
If you have any questions, you can reach out to us through in-app chat.
Pre-filled beneficial owner details
To speed up your application, we may pre-fill beneficial owner information.
If we show someone who is no longer involved in the business, please remove them using the option in the app.
If someone is missing, let us know in the app.
We verify beneficial owners against the Register of Beneficial Owners (RBO). If the information doesn’t match what’s on the register, we may need to submit a discrepancy report.
