Is Barclays or Monzo better for your small business?
Below we look at both Barclays and Monzo reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Barclays vs Monzo Trustpilot Reviews
| Barclays | Monzo | |
| Trustpilot Review Score (out of 5) | 1.4 | 3.9 |
| Percent 5-Star Reviews | 8% | 77% |
| Percent 1- Star Reviews | 86% | 14% |
| Total Number of Reviews | 9,859 | 30,333 |
https://www.trustpilot.com/review/www.barclays.co.uk
https://www.trustpilot.com/review/www.monzo.com
Barclays vs Monzo App Reviews
| Barclays | Monzo | |
| iPhone Review Score (out of 5) | 4.8 | 4.9 |
| Number of iPhone Reviews | 1,700,000 | 189,000 |
| Android Review Score (out of 5) | 4.8 | 4.7 |
| Number of Android Reviews | 506,000 | 125,000 |
https://apps.apple.com/gb/app/barclays/id536248734
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
Barclays vs Monzo Account Fees & Charges
| Barclays | Monzo | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| Cheapest Monthly Account Fee | £8.50 | No |
| Most Expensive Monthly Account Fee | £8.50 | £5 |
| Electronic Payment Cost (in/out) | Free (up to 500 per month; 35p after) | Free |
| Cash Payments Cost (in/out) | 60p per £100/Free | £1 |
| Cheques (in/out) | 60p each/60p each | Unknown |
| CHAPS Payments Cost | £15 | £20 |
| SEPA Payments Cost | 35p | No |
Barclays vs Monzo Business Savings Rates
| Barclays | Monzo | |
| Types of Business Savings Accounts | Instant access, Fixed-term Treasury Reserve Accounts | Instant Access Savings Pot |
| Lowest Savings Rate (AER) | 1.51% | 1.60% |
| Maximum Savings Rate (AER) | 1.96% | 1.60% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Barclays vs Monzo Account Opening Times
| Barclays | Monzo | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Up to 7 Working Days | 1 to 8 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Barclays vs Monzo Features & Account Types
| Barclays | Monzo | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes, via Barclaycard | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online only |
Barclays vs Monzo Customer Support Options
| Barclays | Monzo | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | No |
Barclays vs Monzo Foreign Currency Accounts
| Barclays | Monzo | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Barclays and Monzo
| Barclays | Monzo | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes, via Barclaycard | Yes |
| Card Machines | Yes, via Barclaycard | Yes |
| Free Accounting Software | Yes, FreshBooks | Yes |
Barclays vs Monzo Banking Basics
| Barclays | Monzo | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 122702 | 730427 |
| Website | Barclays Website | Monzo Website |
Common Comparison Questions
Does Barclays or Monzo have better customer reviews?
Barclays scores 1.4 out of 5 based 9,859 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.
Whereas, Monzo scores 3.9 out of 5 based 30,333 Trustpilot reviews. Of which 77% are 5-star and 14% are 1-star.
Does Barclays or Monzo have a better App?
Barclays’s iPhone App is rated 4.8 out of 5 based on 1,700,000 reviews. And it’s Android App is rated 4.8 out of 5 based on 506,000 reviews.
In comparison, Monzo’s iPhone App is rated 4.9 out of 5 based on 189,000 reviews. And it’s Android App is rated 4.7 out of 5 based on 125,000 reviews.
Does Barclays or Monzo have better business savings rates?
Barclays offers the following types of business savings accounts: Instant access, Fixed-term Treasury Reserve Accounts with interest rates ranging from 1.51% to 1.96%. (AER)
In contrast, Monzo offers Instant Access Savings Pot accounts with interest rates ranging from 1.60% to 1.60% (AER).
See Other Comparisons:Barclays vs Bank of Scotland
Barclays vs Metro Bank
Barclays vs TSB
Barclays vs Starling Bank
Barclays vs Shawbrook Bank
For other business bank accounts see our guide here.