Co-operative Bank VS Monese: Business Banking Review & Fee Comparison

Is Co-operative Bank or Monese better for your small business?

Below we look at both Co-operative Bank and Monese 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.

Co-operative Bank vs Monese Trustpilot Reviews

	Co-operative Bank	Monese
Trustpilot Review Score (out of 5)	4.2	4.3
Percent 5-Star Reviews	51%	68%
Percent 1- Star Reviews	39%	17%
Total Number of Reviews	7,699	40,330

Sources:
https://www.trustpilot.com/review/co-operativebank.co.uk
https://www.trustpilot.com/review/www.monese.com

Co-operative Bank vs Monese App Reviews

	Co-operative Bank	Monese
iPhone Review Score (out of 5)	4.7	4.8
Number of iPhone Reviews	47,800	68,100
Android Review Score (out of 5)	4.3	4.5
Number of Android Reviews	33,000	101,000

Sources:
https://apps.apple.com/gb/app/co-operative-bank/id1439204021
https://apps.apple.com/gb/app/monese-a-banking-alternative/id1102793407

Co-operative Bank vs Monese Account Fees & Charges

	Co-operative Bank	Monese
Free Business Bank Account	Yes	No
Free Business Account Term Length	30 Months	NA
Cheapest Monthly Account Fee	Free	£5.95
Most Expensive Monthly Account Fee	Free	£14.95
Electronic Payment Cost (in/out)	Free	Free
Cash Payments Cost (in/out)	£1.50 per £100	3.5% / 2%
Cheques (in/out)	£1.50	Free
CHAPS Payments Cost	£25	No
SEPA Payments Cost	No	No

Co-operative Bank vs Monese Business Savings Rates

	Co-operative Bank	Monese
Types of Business Savings Accounts	Instant access, 35+ day, 95+ day	None
Lowest Savings Rate (AER)	1.63%	NA
Maximum Savings Rate (AER)	2.51%	NA
Minimum Savings Amount	No	NA
Interest Paid On Foreign Currencies	No	Yes

Co-operative Bank vs Monese Account Opening Times

	Co-operative Bank	Monese
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	5 Working days	1 day
Do They Check Your Credit?	Yes	No
Current Account Switch Service	Yes	Yes

Co-operative Bank vs Monese Features & Account Types

Co-operative Bank Account Types — *Co-operative Bank Features & Account Types*

Monese Account Types — *Monese Features & Account Types*

	Co-operative Bank	Monese
Business Current Account	Yes	Yes
Business Savings Account	Yes	No
Business Credit Card	Yes	No
Business Overdraft	Yes	No
Accounts For Startups	Yes	Yes
Accounts For Charities	Yes	No
Accounts For Sole Traders	Yes	Yes
Joint Business Accounts Available	Yes	Yes
Card Type	Visa	Mastercard
Online Banking	Yes	Yes
Mobile Banking	Yes	Yes
In Person/Branch Banking	Yes	No
Branch Locations	Limited locations accross the UK	None, online only

Co-operative Bank vs Monese Customer Support Options

	Co-operative Bank	Monese
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

Co-operative Bank vs Monese Foreign Currency Accounts

	Co-operative Bank	Monese
US Dollar (USD) Bank Accounts	Yes	Yes
Euro (EUR) Bank Accounts	Yes	Yes
Other Currencies Available:	No	EUR (Euro) USD (United States Dollar) AUD (Australian Dollar) CAD (Canadian Dollar) CHF (Swiss Franc) DKK (Danish Krone) NOK (Norwegian Krone) SEK (Swedish Krona)

Other Business Services From Co-operative Bank and Monese

	Co-operative Bank	Monese
Business Loans	Yes	No
Commercial Mortgages	Yes	No
Invoice Financing	Yes	No
International Payments	Yes	Yes
Merchant Payment Services	Yes	No
Card Machines	No	No
Free Accounting Software	Yes	No

Co-operative Bank vs Monese Banking Basics

	Co-operative Bank	Monese
Bank Type	High Street	Challenger
FSCS Protection	Yes, up to £85,000	No
FCA Number	990937	900960
Website	Co-operative Bank Website	Monese Website

Common Comparison Questions

Does Co-operative Bank or Monese have better customer reviews?

Co-operative Bank scores 4.2 out of 5 based 7,699 Trustpilot reviews. Of these reviews 51% are 5-star and 39% are 1-star.

Whereas, Monese scores 4.3 out of 5 based 40,330 Trustpilot reviews. Of which 68% are 5-star and 17% are 1-star.

Does Co-operative Bank or Monese have a better App?

Co-operative Bank’s iPhone App is rated 4.7 out of 5 based on 47,800 reviews. And it’s Android App is rated 4.3 out of 5 based on 33,000 reviews.

In comparison, Monese’s iPhone App is rated 4.8 out of 5 based on 68,100 reviews. And it’s Android App is rated 4.5 out of 5 based on 101,000 reviews.

Does Co-operative Bank or Monese have better business savings rates?

Co-operative Bank offers the following types of business savings accounts: Instant access, 35+ day, 95+ day with interest rates ranging from 1.63% to 2.51%. (AER)

In contrast, Monese offers None accounts with interest rates ranging from NA to NA (AER).

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For other business bank accounts see our guide here.

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