Is Monzo or Airwallex better for your small business?
Below we look at both Monzo and Airwallex 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.
Monzo vs Airwallex Trustpilot Reviews
| Monzo | Airwallex | |
| Trustpilot Review Score (out of 5) | 3.9 | 3.9 |
| Percent 5-Star Reviews | 77% | 67% |
| Percent 1- Star Reviews | 14% | 25% |
| Total Number of Reviews | 30,333 | 1,007 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/airwallex.com
Monzo vs Airwallex App Reviews
| Monzo | Airwallex | |
| iPhone Review Score (out of 5) | 4.9 | 3.3 |
| Number of iPhone Reviews | 189,000 | 12 |
| Android Review Score (out of 5) | 4.7 | 2.3 |
| Number of Android Reviews | 125,000 | 161 |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/airwallex/id1537521807
Monzo vs Airwallex Account Fees & Charges
| Monzo | Airwallex | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | No Limit | 1 month |
| Cheapest Monthly Account Fee | No | Free or £19/month |
| Most Expensive Monthly Account Fee | £5 | £999/month |
| Electronic Payment Cost (in/out) | Free | 20p |
| Cash Payments Cost (in/out) | £1 | Free |
| Cheques (in/out) | Unknown | Free |
| CHAPS Payments Cost | £20 | No |
| SEPA Payments Cost | No | $2 |
Monzo vs Airwallex Business Savings Rates
| Monzo | Airwallex | |
| Types of Business Savings Accounts | Instant Access Savings Pot | None |
| Lowest Savings Rate (AER) | 1.60% | NA |
| Maximum Savings Rate (AER) | 1.60% | NA |
| Minimum Savings Amount | No | NA |
| Interest Paid On Foreign Currencies | Yes | Yes |
Monzo vs Airwallex Account Opening Times
| Monzo | Airwallex | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 8 Working days | 15 minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Monzo vs Airwallex Features & Account Types
| Monzo | Airwallex | |
| 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 | No | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online only | None, online only |
Monzo vs Airwallex Customer Support Options
| Monzo | Airwallex | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Monzo vs Airwallex Foreign Currency Accounts
| Monzo | Airwallex | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
|
Other Business Services From Monzo and Airwallex
| Monzo | Airwallex | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Monzo vs Airwallex Banking Basics
| Monzo | Airwallex | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 730427 | 900876 |
| Website | Monzo Website | Airwallex Website |
Common Comparison Questions
Does Monzo or Airwallex have better customer reviews?
Monzo scores 3.9 out of 5 based 30,333 Trustpilot reviews. Of these reviews 77% are 5-star and 14% are 1-star.
Whereas, Airwallex scores 3.9 out of 5 based 1,007 Trustpilot reviews. Of which 67% are 5-star and 25% are 1-star.
Does Monzo or Airwallex have a better App?
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.
In comparison, Airwallex’s iPhone App is rated 3.3 out of 5 based on 12 reviews. And it’s Android App is rated 2.3 out of 5 based on 161 reviews.
Does Monzo or Airwallex have better business savings rates?
Monzo offers the following types of business savings accounts: Instant Access Savings Pot with interest rates ranging from 1.60% to 1.60%. (AER)
In contrast, Airwallex offers None accounts with interest rates ranging from NA to NA (AER).
See Other Comparisons:Monzo vs Triodos Bank
Monzo vs Soldo
Monzo vs Cambridge Building Society
Monzo vs PayPal Debit
Monzo vs Allica Bank
For other business bank accounts see our guide here.