Monzo Business Banking
It just works, so you can too
Monzo Business Banking helps small businesses stay on top of their finances. Starting at no monthly fees.
Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.
What you need to know about Monzo Business bank accounts
Get better visibility and more control over all your money with a Monzo Business bank account. Less time on finances means more time for the important stuff.
We're a fully regulated UK bank
We're regulated by all the same rules as high street banks
Open a business account online, straight from your phone
Customers voted Monzo the 2022 Best Business Banking Provider (British Bank Awards)
Award-winning customer support, 24/7
You get the best of Monzo
Move money easily with free, instant UK bank transfers
Get notified the second you pay, or get paid
Set money aside, separate from your balance, with Pots
- Earn interest on savings with our Instant Access Savings Pot. Ts&Cs Apply.
Built for your business
Give customers simple ways to pay online
Connect accounting tools so everything's in one place
Manage your business account wherever you are, with mobile and web access
Use separate virtual cards for each Pot you create, helping you control where you spend from with Monzo Business Pro
We're here to help, 24/7
How we help:
Chat to us in app any time, or call or email if you'd prefer
We'll answer your questions and help solve any problems you have
No need for branches, and no need to make an appointment
"It's nice to know when you've been paid. You know what's gone out, what's gone in, instantly."
Sally and Chris use instant notifications to:
Know when they're paid right away
Keep track of their spending
Stay on top of their invoices
Simple pricing, no commitment
Simple pricing, no commitment
Built for business
Tax Pots
Integrated accounting
Multi-user access
Invoicing
Exclusive offers
6 months Xero free (optional)
Virtual Cards
Mobile and web access
Payment links
Card payments with Stripe
Easy bank transfers (free till 2024)Including the best of Monzo
24/7 customer support
Free, instant UK bank transfers
Instant Access Savings Pot
Pots to separate money
Instant notifications
Budget and categorise spending
Digital receipts
Sole trader loans and overdrafts
Outbound international payments
Inbound euro paymentsPlus the essentials
Mobile signup and switching
Apple Pay and Google Pay
Manage scheduled payments
Pay in cash and cheques
£85,000 FSCS protection (if eligible)We charge £1 to pay in cash at PayPoint. And for countries outside the European Economic Area, you can take out £200 cash for free every 30 days. After that, we charge 3%. These charges cover our costs for these services and everything else is included in the plan price. No hidden fees.
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
Choose what to set aside for tax
Use Tax Pots to:
Automatically set a percentage of your income aside when you're paid
Neatly separate your money, all in one bank account
Stop worrying about saving, and spend more time on your business
Only available on Monzo Business Pro for £5 a month
Get paid, the easy way
Target Tuition use a Monzo Business bank account to:
Create payment links or invoices in a few taps
Offer customers simple ways to pay by card or easy bank transfer
Save time on admin with all your payments in one place
Automate accounting with tools you already use
Integrate accounting tools like Xero, FreeAgent and QuickBooks to automatically share your balance and transactions every day with Monzo Business Pro.
If you use other tools, or don’t use any, easily export a file of your transactions or statements (CSV, PDF or QIF) whenever you need to. We’ll never share your data with anyone else unless you agree to it, or ask us to.
With Monzo Business Pro, new Xero users can get 6 months of the cloud accounting platform free (terms apply). Learn more.
Loans for businesses
Eligible sole traders can get a loan up to £25,000. We can only offer you one loan across both your personal and business accounts.
We don’t offer loans 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.
If you’re eligible, our representative APR for loans of more than £10,000 and up to £25,000 is 16.7% APR. For loans up to £10,000 it’s 29.4% APR
You need to be 18+ to apply. Ts&Cs apply.
Overdrafts for businesses
Eligible sole traders can get an overdraft up to £2,000. We can only offer you one overdraft across both your Personal and Business accounts.
We don’t offer overdrafts to limited companies.
Seeing if you’re eligible won’t leave a mark on your credit file and we won’t charge you any extra fees for going into your overdraft.
How does our overdraft compare? Our representative APR enables customers to compare the costs associated with the different credit products.
As a representative example, if you use an arranged overdraft of £1,200 for 30 days, with 39.0% EAR/APR (variable), it would cost you £32.94. 39% APR representative (variable)
You need to be 18+ to apply. Ts&Cs apply.
"The team has access. We know who paid what and when. Monzo's allowed us to have transparency."
The Malt Films team uses multi-user access on Monzo Business pro to:
Manage their finances together
Improve visibility across the business
Split up their workload, especially if someone's away
Meet the people behind the businesses
Monzo Business lets them get on with what they love: running their business.
Your questions, answered
Check if you're eligible
You can apply for a business bank account if you’re a sole trader or a registered limited company by shares (Ltd), based in the UK, and if you're an Ltd also a tax resident only in the UK.
Head to our eligibility criteria for more detail on businesses and industries we can and can’t support at the moment.
Your eligible deposits are protected
If you're a sole trader or a small business your eligible deposits may be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. 💰 To learn more about the businesses and deposits that are eligible, see here
Sign up straight from your phone
We’ll ask some questions about your business to see if you’re eligible.
If you have a Monzo Current Account, apply in your app. If you don’t have a Monzo Current Account, sign up in these 3 steps.
Let's talk business
Ideas for everything from getting started, to taking your business to the next level
Business Instant Access Savings are here 🎉
Introducing our all-new business Instant Access Savings Pot, grow your spare funds.
Euro transfers to your Monzo account
From 3 April 2023 you can get euros sent to your Monzo account, and we’ll convert them to pounds for you.
Cost of living: how we’re supporting you and your business
The cost of living crisis is affecting all of us in some way. We’ve been speaking to business customers about their experiences and worries, and we’ve summarised how we can help as the situation evolves.
Virtual Cards, explained - A new feature for Monzo Business Pro
Virtual cards are brand new to Monzo Business Pro. We designed virtual cards to help Business owners and members to stay in control of their business spend and spend safely online.
Business customers - you can now send money abroad
We’ve partnered with Wise to give you a simple, cheap way to send money abroad. Always using the real exchange rate, with no hidden fees.
How to open a business bank account with just your phone
Open a full bank account, straight from your phone, with Monzo Business.
Independent service quality survey results
Published August 2023
As part of a regulatory requirement, independent surveys were conducted to ask customers of the largest business current account providers in Great Britain if they would recommend their provider to friends and family. The results represent the view of customers who took part in the survey.