Monzo Business Account Review: Pros, Cons & Features

Dec 9, 2024 · Monzo offers free and paid business accounts, boasting a fast application process and high app review scores. Read our review of Monzo’s business account, including pros, cons and key features.

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Monzo Business Account Review – The Good And The Bad

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Monzo Business Costs & Fees. There are 2 account tiers for Monzo business: Lite – Free; Pro – £5 per month; In addition to the above, there are various costs for functions within the account: …

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FAQs about Monzo Business Account Review: Pros, Cons & Features Coupon?

Does Monzo have a business account?

Monzo currently offers three versions of its business account. Monzo Business Lite is a free account with everyday banking facilities, while Monzo Business Pro is a paid account with a more extensive list of features. ...

How much does Monzo pro cost?

At £9 per month, Monzo Pro offers a relatively low fee compared to other banks we reviewed. You may be able to get access to online banking on the same day as you apply. It is not possible to manage the account over the phone or at a branch. Business accounts are not available to charities or partnerships. Cash deposits carry a fee of £1 each. ...

What is the difference between Monzo business Lite & Monzo pro?

Monzo Business Lite is a free account with everyday banking facilities, while Monzo Business Pro is a paid account with a more extensive list of features. Monzo Team, which launched in October 2024, includes everything from the Pro plan, as well as expense cards, bulk payments, and more. ...

Is Monzo a good company?

For the category of ‘Relationship/Account Management services’, Monzo ranked second with a score of 73%. This reflects a strong performance, though not the leading position, in how well they manage customer relationships and account services for SMEs. Finally, Monzo did not receive a score for ‘Services in Branches and Business Centres’. ...

How much does a Monzo Bank account cost?

Let’s look at the range of bank accounts that Monzo offers: £400No fee in the EEA, including the UK. £400No fee in the EEA, including the UK. In the next sections, we’ll get into the different types of Monzo accounts and their associated costs. ...

What is the difference between a Monzo business and a personal account?

Both plans are available for companies and sole traders, with Pro offering enhanced features suited for limited companies. Every account includes a Debit Mastercard. A personal account must be created before a Monzo Business account, resulting in ownership of both account types. ...