Terms and Conditions

These legal terms, including the fee information and cut-off times, are between you (the limited company or the sole trader) and Monzo Bank Limited (Monzo/us/we) and you agree to them by using the Monzo app.

Where we say 'you' we mean each person with access to the account and the limited company or the sole trader. You all agree that you're acting on behalf of the limited company or sole trader.

Your Monzo account is a UK business current account and you must not use it for personal banking.

You should read this document along with our Business Account Privacy Notice and eligibility information. All of these documents are part of your legal agreement with us (this agreement).

You can contact us through the Monzo app.

Email us at help@monzo.com.

Phone us on 0800 088 4040.

Or send a letter to: Monzo, Broadwalk House, 5 Appold St, London EC2A 2AG.

Using the Monzo app, email, phone, mail to your business address, we'll:

We also send you instant notifications when you spend or receive money. If any of your contact details change, including moving abroad, you must let us know as soon as possible.

You can find information about your transactions in your feed and your monthly bank statements in the app. If you choose to download your statement to a drive you're responsible for making sure this is managed properly, including who you share permissions with and disabling the automatic download feature.

We offer three plans for Monzo Business Accounts: currently these are Lite, Pro and Team. We may rename plans or introduce new plans from time to time - if we do this, we will let you know. Each plan has a different set of benefits and a different monthly fee (where applicable). Find out more.

If your plan has a monthly fee, you must make sure there is enough money available in your account to pay it when it’s due.

If we’re unable to collect your monthly fee, we may retry the payment and contact you to ask you to make payment. If you don’t pay the outstanding amount within the additional time we allow, we may cancel your plan and you’ll lose access to all the plan’s benefits.

The person setting up the account must be a director or sole trader owner, and be authorised by your business. The person opening the account and any ‘admins’ may add team members to the account as an 'admin' or a 'collaborator' (available with Monzo Business Pro and Monzo Business Team) or ‘expense cardholder’ (Team only).

If you give people admin access, they can do everything you can. That includes making payments and adding other people as admins, who can add others in turn.

Collaborators can make payments, download statements, enter into agreements on your behalf for ancillary services and help with other financial admin – you'll see the full access list in the app. If you have Team, admins can set limits on the amount a collaborator can spend by bank transfer or card (including cash withdrawals). Any admin can change these limits at any time in the app or by getting in touch with us.

Once a card limit is set, collaborators can’t make payments above the limit. Collaborators can make bank transfers above the limit if it’s approved by an admin first and it won’t count towards the collaborator’s limit. So if a collaborator has a daily limit of £500 and a bank transfer of £501 is approved, the collaborator can still use their £500 daily limit. There may be some things a collaborator who has spending controls set can't do, like make outgoing international payments or creating virtual cards. See the app for the full list.

Expense cardholders can spend with their expense card and view their spend activity in the app but nothing else. You (the limited company or sole trader) are responsible for payments expense cardholders make. You can set monthly spend and cash withdrawal limits in the app. Expense cardholders can’t make payments above these limits. Please tell expense cardholders:

The number of team members you can add to your account may vary. We’ll let you know in the app how many team members you can have and any restrictions that may apply. If you’re a limited company with Team, you can increase the number of team members on your account to a maximum of 15 for extra cost. See our fees page for more details.

Ultimately, you're responsible for the actions of each admin, collaborator or expense cardholder. You remain the legal owner of the account and authorised users do not have any legal or beneficial interest in the money held in the account.

They can add or remove admins, collaborators or expense cardholders at any time. If an admin removes another admin who is a company director, we may ask for evidence of authority before taking away their access, unless they agree to be removed. We won't ask for admins to give instructions jointly, unless it's to remove another admin who is a company director or to close the account. There must be an admin that’s a company director or sole trader owner on the account at all times. If you're an admin and want to remove someone from the account, get in touch with us in the app.

If we're aware there's a dispute between company directors, owners or people with access we may ask for instructions to be given jointly, or reject the instruction. We may freeze the account while we investigate the dispute, and may request evidence to confirm the dispute has been resolved.

Your Monzo Business Account works as your single payment account. Money in Pots is part of your business account but doesn't form part of your main available balance. This means we'll reject a payment if you don't have enough money in your main available balance, even if you have money in any Pots you’ve opened.

You can open Pots to store money and help you budget. You can close a Pot at any time and we’ll move any money in it back into your Monzo Business Account.

Some payments that would take your balance below zero may still go through, including offline payments. If that happens, we'll let you know the amount you need to repay before the end of the day. If you have an arranged overdraft we'll use any available overdraft limit.

If you go over your arranged overdraft limit, or we haven't agreed an overdraft limit with you and your balance goes below zero, we call this an ‘unarranged’ overdraft. It's best not to spend long in an unarranged overdraft as it could harm your credit score and make it harder to borrow money.

When we calculate the amount you're overdrawn by, we'll exclude any money you've agreed to put aside in Pots. Money in Pots isn't part of your main available balance, so you can still go overdrawn even if you have money in Pots.

We can refuse any payment that would take your account into an unarranged overdraft, but there are times when we may allow the payment. For example, when you go into an unarranged overdraft because a payment system went down, we had to recover a chargeback or refund from you, or for any offline payments.

Any money you owe as a result of an unarranged overdraft is due immediately. If you have any questions about how to make a repayment, please contact us.

We may refuse to make a payment, or reject an incoming one if:

If we block a payment, we'll let you know as soon as possible using one of our normal ways of contacting you.

You might miss Monzo Flex, loan or overdraft repayments, break your credit agreement or not repay when we ask you to. If this happens, we have the right to reduce or pay off debt you owe us using any available credit balance in your Mozno Business Account, any money in Pots and savings. If you hold multiple accounts in your name (for example, personal and sole trader accounts) we can set off the balances against each other.

Sometimes we’ll take longer to make payments

If we think you might be a victim of fraud, we may take longer to process your payment while we look into it. If that happens, we’ll let you know. And if we believe there’s fraud taking place on your account, we may have to stop making the payment.

Bulk payments allow you to make multiple payments in one go. If you have Team, you can make bulk payments in the app or on web. If a collaborator with spending controls makes a bulk payment above their daily limit, an admin has to approve it and we’ll make the payment once they have.

There are lots of ways you can send money with Monzo. They each work differently, and we need different information from you to make them.

Once you've approved, we may give you some time to undo the payment in the app. If we do, you’ll see how much time you have to undo the payment. After that time, you won’t be able to withdraw your approval and we will make your payment. If we don’t give you the time to undo the payment or you choose not to do it, you won’t be able to withdraw your approval once you’ve given it.

If you schedule a future payment, we'll treat it as you approving on the payment date.

This section covers payments you make using your phone, watch or other device, as well as using your physical Monzo card. You're responsible for making sure that no one else has access to a device you've added your Monzo card to. You're also responsible for keeping your card details safe and not sharing them with anyone else.

You can use your card or device to pay anywhere that accepts Mastercard. Add your Monzo card to your device by using your PIN, a security code, or by using your fingerprint or facial recognition. Doing this creates a new payment method that works online and in person.

You can also pay with cash by using your Monzo card to withdraw money from an ATM (see fees below). For some ATMs you may need to turn on the ‘magnetic stripe’ rather than using Chip and PIN. You can do this in the app.

You can use your card or device to make payments online, over the phone or through the post.

We only support making Direct Debit payments, not receiving them. You can also set up a Direct Debit from a Pot in your Monzo app. If there isn't enough money in the Pot, we'll use the balance available in your business account to make up the difference.

If you want to pay in a cheque you can post it to us. You may also be able to take a photo of it using the Monzo app.

Sometimes a cheque will bounce after we've credited it to your account. If you have enough money we'll take the bounced amount out, and explain what's happened. If there isn't enough money to cover the bounced amount, we'll tell you the cheque has bounced and give you 14 days to return the bounced amount you owe. If you still haven't returned the money after 14 days, we'll take the full bounced amount even if that leaves you overdrawn.

The information we need will depend on where you are sending the payment and in what currency. You’ll see this in your Monzo app when you make the payment but it will include:

We'll give you access to the Get Paid tab in the app and this is where you can choose how your customers pay you.

If your customer chooses to pay by easy bank transfer, we ask them to agree to separate Monzo Ts&Cs. If they tap and confirm them, they'll be directed to their UK bank account to authorise the payment through Open Banking.

We don't charge a fee for the easy bank transfers you receive through the Get Paid tab.

We've integrated with Stripe Connect so you can accept card payments. To accept card payments and use Stripe's payment processing services, you'll need to apply for a Stripe account from the Monzo app and sign up to their Ts&Cs. If Stripe approve you for an account, your Monzo account will become what's known as a ‘connected account’.

As part of your agreement with them, Stripe will charge you a fee every time your customers pay by card. Details of the fee are in your Stripe agreement. We, Monzo, don't charge any fees on top of Stripe's. Stripe pays us a commission instead.

You can't use Stripe's card payments in any way that violates the Stripe Connected Account Agreement, or for any activity that is banned, including activities listed on the Restricted Businesses List. If we find out about fraudulent, unlawful, deceptive or abusive activity, we can tell Stripe.

We can access any data relating to your Stripe account, activity on or related to your Stripe account, and card transactions received through Get Paid tab. Where Stripe needs your data to provide its Stripe Connect service, you agree we can share this data and other information relating to you and your finances (including personal data) with Stripe. You should also read Stripe's privacy policy.

You're responsible for how you use the Get Paid tab and for any information you give. You agree that your information will be true, correct and not misleading and that it will comply with any relevant legal requirements.

You agree that you have all rights, licences and consents you need to give us a worldwide, non-exclusive, royalty-free licence to use any information, including any logos, you use in the Get Paid tab. We use this information on invoices or payment links you create so that your customers recognise your business.

We’re responsible for generating your payment request and hosting it on our website.

We’re not responsible for the products or services you sell, or for what you include in your payment request. For example, we don’t check that your invoices meet VAT or other legal requirements.

You’re responsible for meeting your obligations to your customers. That includes delivering the goods or services you’ve agreed to provide and complying with any legal or contractual requirements that apply to your business.

If we suffer a loss because you don't meet those obligations, or comply with the legal or contractual requirements that apply to your business, you'll be responsible for covering that loss.

Under your agreement with Stripe, you're responsible for:

Stripe provides card payment services under a separate agreement with you. We’re not responsible for how Stripe provides those services, or if Stripe doesn’t meet its obligations under your agreement with them.

We'll give a card to each person who signs up for your account using the Monzo app.

Spending with your Monzo card is free anywhere around the world, and should work anywhere that accepts Mastercard. When you make a payment in a foreign currency or take out cash abroad, we use Mastercard's exchange rate and don’t add additional fees. This rate changes every day and you can find the most up to date information on our website.

For payments you make in the app, we use a third-party exchange rate, which you’ll always see in the app before making the payment. The third party provides this rate, usually the mid-market rate, and you can find details for it in your Monzo app at any time. You’ll also see the charges that will apply before you make the payment. The exact charge will be made up of a fixed amount and a variable amount, and will depend on where you’re sending the payment and in what currency. Sometimes we can’t help you send money in a particular currency. When that happens we may let you make international payments through third parties. You can find the exchange rate that applies to payments through third parties in your Monzo app.

For payments we receive in other currencies, we use a third party exchange rate to convert them to pounds. Contact us for more information on exchange rates and see the fee information for details on making and receiving international payments in other currencies.

We'll treat any instruction from a third party provider to check your account information or make payments from your account as if it were coming from you.

We may block a third party provider from accessing your account if we think they're acting without your permission or are being fraudulent. We'll tell you if we do this (unless we're not allowed to by law, or it would impact the security measures we have in place to keep your account safe).

We don't charge you for withdrawing money from an ATM in the European Economic Area (EEA). For withdrawals from ATMs outside of the EEA and other fees, see our fees page for more details.

Virtual cards are a Monzo Business Pro and Monzo Business Team feature.

You can have up to 5 live virtual cards at any time, and can create up to 9 every 30 days, with a maximum of 100 per year.

Virtual cards live only in your Monzo app. You won't get physical cards for any of the virtual ones you create. You can create, delete and see your virtual card details in the app. Only the person who created the virtual card can manage, edit and delete it. Even if you're the account owner or authorised to use the account, you won't be able to see the virtual cards that anyone else with account access has created.

You can link virtual cards to Pots in your Monzo app. Pots are a way to separate your money and they sit in your Monzo account. If a Pot you've linked a virtual card to doesn't have enough money in, payments you try to make won't go through.

For payments from virtual cards not linked to a Pot, we'll take the money you spend from your current account balance. We spread your business' total spending limit across your physical cards and any virtual cards you use.

As with any physical cards, you have to keep your virtual cards and their details safe at all times. If you think someone else has got access to your virtual card details, or you notice payments made from a virtual card that you didn't make, you must delete the affected virtual card and tell us as soon as possible.

See ‘Our responsibility to you’ and ‘If something goes wrong’ sections for details of when we'll refund you.

You'll find information about your account fees on our fees page.

Pro and Team have a monthly fee and we’ll automatically take the fee from your account. You’ll pay for your plan in advance and on the same day every month. This is your billing date. If you signed up for your account as part of a promotion, your first billing date will be after the promotional period has ended.

We can withdraw promotional offers at any time without notice. You can redeem each offer once per business account per subscription plan, unless we say otherwise.

Pro and Team have no minimum term, you can cancel your plan or close your account at any time. If you close your account, we’ll refund you for however long is left in the month. See ‘closing your account’ section for more details.

If you add extra team members, we won’t charge you until your next billing date.

You can remove extra team members at any time. As you pay in advance, you’ll keep the benefit until your next billing date when we update your fees.

You can upgrade and downgrade plans or move to our free plan at any time. If you upgrade, you’ll receive the benefits immediately and we’ll charge your new plan fee the month after you sign up. This will be your new billing date.

To downgrade, you’ll first have to remove any extra team members. Once you downgrade, you’ll lose the benefits immediately and we’ll refund you for however long is left in the month, including the cost of extra team members.

You need to pay the fees when due and if you don't have enough money in the account we'll retry each day and send you reminders. We might downgrade you to a free plan if you don't pay.

You may have to pay other costs, taxes or charges related to your Monzo account which are outside of our control and not charged by us. For example, other banks may charge you for sending money to your Monzo account.

Monzo is covered by the Financial Services Compensation Scheme (FSCS). The FSCS pays compensation to eligible depositors if a bank can't meet its financial obligations. Most depositors are covered by the scheme, but it depends on some FSCS criteria. Our FSCS page has more information.

You can find more information about the scheme, including the amounts covered and eligibility to claim, on the FSCS website.

By accepting these terms, you agree to us:

We’ll also use your data to give you and your team members a personalised experience including through the Monzo app. We may use preferences, financial goals and other information about how you and your team members use our products and services to make the app more relevant and useful for you and show you things that we think you and them will find interesting or helpful. Our Data Privacy Notice explains how we’ll handle your data.

English law applies to this agreement and English courts will settle disputes.

Please keep your phone, card and PIN safe at all times. If we discover any security issues affecting your account, we'll contact you as soon as possible using one of our normal ways of contacting you. If we’re concerned about the security of your card, we may freeze or cancel your card to protect your account.

If you lose your card or see transactions in the app that look wrong, you must freeze your card and tell us as soon as possible. If you don't let us know within 13 months from the date the money leaves your account you might not be able to get your money back.

It's possible that someone will pay money into your account by mistake, or as a result of fraudulent activity. If this happens, you give us permission to remove the equivalent amount from any available credit balance or return the payment to the sender, even if this leaves you overdrawn. We don't need to tell you before we do this and we may also provide details about you to the sender's bank to help them get the money back.

If you've used your card to make a payment to someone who didn't specify the exact amount (for example when hiring a car), and the final amount is higher than you could reasonably have expected, we'll give you a refund. You'll need to tell us within 8 weeks of the transaction, and give us any information we reasonably ask for to investigate.

If either we, or the company you want to pay, make a mistake with your Direct Debit, you're entitled to a full immediate refund under the Direct Debit guarantee scheme.

You're responsible for making sure that your device can run the Monzo app (which we update regularly). Sometimes important information won't show correctly on older operating systems. We also can't guarantee that all features in your Monzo app will work as expected on older operating systems. For more information see our mobile operating system support policy.

We'll usually refund your money if:

We’ll also usually refund your money if you’ve been a victim of Authorised Push Payment (APP) fraud and are eligible for reimbursement under the Payment Systems Regulator’s rules. You can find out more about the rules for reimbursement and APP fraud in our push payment fraud help article.

We'll also refund any money you lose if we make mistakes with your payments. We can help by speaking to other banks to make sure they treat any payment we send late as if it was sent on time.

Examples of when you won't be able to claim back money you've lost may include if:

We have no Quincecare duty. That means you agree that we can process authorised payments made by a person authorised on your account. And you agree that we don't have a duty to stop or investigate any authorised payments from your account, even if there are reasonable grounds to suspect the payment is being made for fraudulent reasons.

We're also not responsible to you for:

These exceptions won't apply if we acted fraudulently or if we are at fault and the law doesn't let us exclude our responsibility.

We're not responsible for any loss or damage (direct or indirect) caused by something beyond our reasonable control. We're also not responsible for any loss or damage (direct and indirect) if something was unavoidable despite us using reasonable care and skill to avoid it.

This may include:

So you won't be able to claim back money you lost if your losses resulted from circumstances that we couldn't or shouldn't have been expected to know about.

Once this agreement has started it won't end until you or we end it. You can cancel your account within the first 14 days of opening it, or close it at any other time. If you'd like to, please get in touch with us. We will ask for joint instruction from all authorised admins to close the account. You'll need to repay any money you owe us under this agreement, or your arranged overdraft agreement (if you have one) before we can close your account. Once we've closed it, your card won't work and you won't be able to access your account.

Up until 28 April 2026 we can close your account by giving you at least 2 months' notice, after that we'll give you at least 90 days' notice. We may close your account immediately or stop you using your card and/or app if we believe you or anyone with account access has:

If you have a complaint, please contact us and we'll do our best to fix the problem.

If you're still not happy, and are an eligible small business, you may be able to refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman for Small Businesses website has more details, including how to check your eligibility.

This agreement will always be available in the app and on our website.

We can make changes from time to time to our charges, interest rates, or the terms of this agreement or any other agreement which these terms apply to. This includes introducing new charges or rates and charging in a different way.

We may make these changes, including fees we charge, because of changes to:

We can make favourable changes to the terms of this agreement, including the fees we charge, for any reason. We can also make proportionate changes for any other balanced and valid reason that impacts us or your account.

We’ll tell you our reasons for making any change in the most secure way, using one of our normal ways of contacting you. When we tell you about the changes will vary based on the type of change or reason behind it.

If you don't agree to these changes, you can let us know and we'll close your account fee-free. We'll transfer any money in the account to another account of yours, and you'll need to pay back any money you owe us. If we don't hear from you before the changes come into effect, we'll assume you're happy and accept the changes we've made.

We also have the right to transfer any of our rights or obligations under these terms and conditions to another company in our group. This means any parent, subsidiary or associated company of Monzo Bank Limited.

Monzo Bank Limited, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 730427). Registered in England. Registered No. 9446231. Registered Office: Broadwalk House, 5 Appold St, London EC2A 2AG.