Is Monzo or Cambridge Building Society better for your small business?
Below we look at both Monzo and Cambridge Building Society 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 Cambridge Building Society Trustpilot Reviews
| Monzo | Cambridge Building Society | |
| Trustpilot Review Score (out of 5) | 3.9 | 3.1 |
| Percent 5-Star Reviews | 77% | 53% |
| Percent 1- Star Reviews | 14% | 47% |
| Total Number of Reviews | 30,333 | 15 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/www.cambridgebs.co.uk
Monzo vs Cambridge Building Society App Reviews
| Monzo | Cambridge Building Society | |
| iPhone Review Score (out of 5) | 4.9 | 4 |
| Number of iPhone Reviews | 189,000 | 35 |
| Android Review Score (out of 5) | 4.7 | 2.6 |
| Number of Android Reviews | 125,000 | 29 |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/cambridge-building-society/id1228676229
Monzo vs Cambridge Building Society Account Fees & Charges
| Monzo | Cambridge Building Society | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | No Limit | NA |
| Cheapest Monthly Account Fee | No | £10 |
| Most Expensive Monthly Account Fee | £5 | £20 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | £1 | £1.50 |
| Cheques (in/out) | Unknown | Free |
| CHAPS Payments Cost | £20 | No |
| SEPA Payments Cost | No | No |
Monzo vs Cambridge Building Society Business Savings Rates
| Monzo | Cambridge Building Society | |
| Types of Business Savings Accounts | Instant Access Savings Pot | Business Saver, Council Saver, Notice Business Saver, Fixed Rate Business Bond |
| Lowest Savings Rate (AER) | 1.60% | 2.90% |
| Maximum Savings Rate (AER) | 1.60% | 4.25% |
| Minimum Savings Amount | No | £1,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Monzo vs Cambridge Building Society Account Opening Times
| Monzo | Cambridge Building Society | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 8 Working days | Undisclosed |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Monzo vs Cambridge Building Society Features & Account Types
| Monzo | Cambridge Building Society | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | Yes |
| Branch Locations | None, online only | Locations around Cambridge |
Monzo vs Cambridge Building Society Customer Support Options
| Monzo | Cambridge Building Society | |
| 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 | Yes |
Monzo vs Cambridge Building Society Foreign Currency Accounts
| Monzo | Cambridge Building Society | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Monzo and Cambridge Building Society
| Monzo | Cambridge Building Society | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Monzo vs Cambridge Building Society Banking Basics
| Monzo | Cambridge Building Society | |
| Bank Type | Challenger | Building Society |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 730427 | 157223 |
| Website | Monzo Website | Cambridge Building Society Website |
Common Comparison Questions
Does Monzo or Cambridge Building Society 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, Cambridge Building Society scores 3.1 out of 5 based 15 Trustpilot reviews. Of which 53% are 5-star and 47% are 1-star.
Does Monzo or Cambridge Building Society 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, Cambridge Building Society’s iPhone App is rated 4 out of 5 based on 35 reviews. And it’s Android App is rated 2.6 out of 5 based on 29 reviews.
Does Monzo or Cambridge Building Society 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, Cambridge Building Society offers Business Saver, Council Saver, Notice Business Saver, Fixed Rate Business Bond accounts with interest rates ranging from 2.90% to 4.25% (AER).
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For other business bank accounts see our guide here.