Monzo VS Zempler Bank (formerly Cashplus): Business Banking Review & Fee Comparison

Is Monzo or Zempler Bank (formerly Cashplus) better for your small business?

Below we look at both Monzo and Zempler Bank (formerly Cashplus) 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 Zempler Bank (formerly Cashplus) Trustpilot Reviews

	Monzo	Zempler Bank (formerly Cashplus)
Trustpilot Review Score (out of 5)	3.9	3.7
Percent 5-Star Reviews	77%	54%
Percent 1- Star Reviews	14%	30%
Total Number of Reviews	30,333	9,921

Sources:
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/www.cashplus.com

Monzo vs Zempler Bank (formerly Cashplus) App Reviews

	Monzo	Zempler Bank (formerly Cashplus)
iPhone Review Score (out of 5)	4.9	4.7
Number of iPhone Reviews	189,000	48,000
Android Review Score (out of 5)	4.7	4.5
Number of Android Reviews	125,000	23,400

Sources:
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/cashplus-bank/id709473017

Monzo vs Zempler Bank (formerly Cashplus) Account Fees & Charges

	Monzo	Zempler Bank (formerly Cashplus)
Free Business Bank Account	Yes	Yes
Free Business Account Term Length	No Limit	No Limit
Cheapest Monthly Account Fee	No	No
Most Expensive Monthly Account Fee	£5	£9
Electronic Payment Cost (in/out)	Free	Free / 30p
Cash Payments Cost (in/out)	£1	0.5% / £2
Cheques (in/out)	Unknown	Unknown
CHAPS Payments Cost	£20	£20
SEPA Payments Cost	No	£15

Monzo vs Zempler Bank (formerly Cashplus) Business Savings Rates

	Monzo	Zempler Bank (formerly Cashplus)
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	No

Monzo vs Zempler Bank (formerly Cashplus) Account Opening Times

	Monzo	Zempler Bank (formerly Cashplus)
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	1 to 8 Working days	1 day
Do They Check Your Credit?	Yes	No
Current Account Switch Service	Yes	No

Monzo vs Zempler Bank (formerly Cashplus) Features & Account Types

	Monzo	Zempler Bank (formerly Cashplus)
Business Current Account	Yes	Yes
Business Savings Account	Yes	No
Business Credit Card	Yes	Yes
Business Overdraft	Yes	Yes
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	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 Zempler Bank (formerly Cashplus) Customer Support Options

	Monzo	Zempler Bank (formerly Cashplus)
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 Zempler Bank (formerly Cashplus) Foreign Currency Accounts

	Monzo	Zempler Bank (formerly Cashplus)
US Dollar (USD) Bank Accounts	Yes	Yes
Euro (EUR) Bank Accounts	Yes	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	No

Other Business Services From Monzo and Zempler Bank (formerly Cashplus)

	Monzo	Zempler Bank (formerly Cashplus)
Business Loans	Yes	Yes
Commercial Mortgages	Yes	No
Invoice Financing	Yes	Yes
International Payments	Yes	Yes
Merchant Payment Services	Yes	Yes
Card Machines	Yes	No
Free Accounting Software	Yes	No

Monzo vs Zempler Bank (formerly Cashplus) Banking Basics

	Monzo	Zempler Bank (formerly Cashplus)
Bank Type	Challenger	Challenger
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	730427	671140
Website	Monzo Website	Zempler Bank (formerly Cashplus) Website

Common Comparison Questions

Does Monzo or Zempler Bank (formerly Cashplus) 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, Zempler Bank (formerly Cashplus) scores 3.7 out of 5 based 9,921 Trustpilot reviews. Of which 54% are 5-star and 30% are 1-star.

Does Monzo or Zempler Bank (formerly Cashplus) 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, Zempler Bank (formerly Cashplus)’s iPhone App is rated 4.7 out of 5 based on 48,000 reviews. And it’s Android App is rated 4.5 out of 5 based on 23,400 reviews.

Does Monzo or Zempler Bank (formerly Cashplus) 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, Zempler Bank (formerly Cashplus) 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.