Is a Monzo business account right for you?
Read real customer reviews below along with more information about the various banking services Monzo offers to businesses.
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Monzo Customer Reviews
Review Summary
Recent Reviews
How Mrs. Rose help me recover my money back.
deposited $29K with them, made a profit of $15K. and then I requested for withdrawals, they kept telling me I would get my money until they stopped picking my calls. This left me devastated for a while until I consulted with rose_hoover_90_@_gmail_._com to get my funds back. Do not trust them with your money.
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Monzo Reviews From Other Websites
Monzo Trustpilot Reviews
| Review Score (out of 5) | Percent 5-Star Reviews | Percent 1-star Reviews | Total Number of Reviews |
|---|---|---|---|
| 3.90 | 77% | 14% | 30,333 |
Source: https://www.trustpilot.com/review/www.monzo.com
Monzo iPhone & Android App Reviews
| App Type | Review Score (out out 5) | Total Number of Reviews |
|---|---|---|
| iPhone | 4.90 | 189,000 |
| Android | 4.70 | 125,000 |
Source:
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://play.google.com/store/apps/details?id=co.uk.getmondo&hl=en_GB
Monzo Basics
| Bank Type | Challenger |
| FSCS Protection | Yes, up to £85,000 |
| Branch Locations | None, online only |
| Card Type | Mastercard |
| FCA Number | 730427 |
| Online Banking | Yes |
| Mobile Banking | Yes |
| In Person/Branch Banking | No |
Customer Support Options
| Phone Support Available | Yes |
| Email Support Available | Yes |
| Support Via Their App | Yes |
| Web Based Support | Yes |
| In person Customer Support | No |
Monzo Business Account Types
| Business Current Account | Yes |
| Business Savings Account | Yes |
| Business Credit Card | Yes |
| Business Overdraft | Yes |
| Accounts For Startups | Yes |
| Accounts For Charities | No |
| Accounts For Sole Traders | Yes |
| Joint Business Accounts Available | Yes |
Opening A Monzo Business Account
| Can You Apply Online? | Yes |
| How Long Does Opening An Account Typically Take? |
1 to 8 Working days |
| Do They Check Your Credit? | Yes |
| Current Account Switch Service | Yes |
Click to open a Monzo Business Account
Monzo Business Savings
| Types of Business Savings Accounts | Instant Access Savings Pot |
| Lowest Savings Rate (AER) | 1.60% |
| Maximum Savings Rate (AER) | 1.60% |
| Minimum Savings Amount | No |
Please note these numbers were accurate at the time of publication, but may have since changed. Click to here to see current Monzo rates
Monzo Fees & Charges
| Free Business Bank Account | Yes |
| Free Business Account Term Length | No Limit |
| Cheapest Monthly Account Fee | No |
| Most Expensive Monthly Account Fee | £5 |
| Electronic Payment Cost (in/out) | Free |
| Cash Payments Cost (in/out) | £1 |
| Cheques in/out | Unknown |
| CHAPS Payments Cost | £20 |
| SEPA Payments Cost | No |
Monzo Foreign Currency Accounts
| US Dollar (USD) Bank Account | Yes |
| Euro (EUR) Bank Account | Yes |
| Interest Paid On Foreign Currencies | Yes |
Other Currencies Available:
- AED – United Arab Emirates dirham
- AUD – Australian dollar
- BGN – Bulgarian lev
- BRL – Brazilian real
- CAD – Canadian dollar
- CHF – Swiss franc
- CZK – Czech koruna
- DKK – Danish krone
- EUR – Euro
- GBP – British pound
- HRK – Croatian kuna
- HUF – Hungarian forint
- ILS – Israeli new shekel
- ISK – Icelandic króna
- JPY – Japanese yen
- KRW – South Korean won
- MXN – Mexican peso
- MYR – Malaysian ringgit
- NOK – Norwegian krone
- NZD – New Zealand dollar
- PLN – Polish zloty
- RON – Romanian leu
- RUB – Russian ruble
- SEK – Swedish krona
- SGD – Singapore dollar
- THB – Thai baht
- TRY – Turkish lira
- USD – United States dollar
Other Monzo Business Services
| Business Loans | Yes |
| Commercial Mortgages | Yes |
| Invoice Financing | Yes |
| International Payments | Yes |
| Merchant Services | Yes |
| Card Machines | Yes |
| Free Accounting Software | Yes |
Click to visit the Monzo website
For other business bank accounts see out guide here.
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