Monzo VS Danske Bank UK: Business Banking Review & Fee Comparison

Is Monzo or Danske Bank UK better for your small business?

Below we look at both Monzo and Danske Bank UK 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 Danske Bank UK Trustpilot Reviews

	Monzo	Danske Bank UK
Trustpilot Review Score (out of 5)	3.9	2
Percent 5-Star Reviews	77%	12%
Percent 1- Star Reviews	14%	71%
Total Number of Reviews	30,333	24

Sources:
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/danskebank.co.uk

Monzo vs Danske Bank UK App Reviews

	Monzo	Danske Bank UK
iPhone Review Score (out of 5)	4.9	4.4
Number of iPhone Reviews	189,000	2,900
Android Review Score (out of 5)	4.7	4.4
Number of Android Reviews	125,000	2,890

Sources:
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/mobile-bank-uk-danske-bank/id1365361930

Monzo vs Danske Bank UK Account Fees & Charges

	Monzo	Danske Bank UK
Free Business Bank Account	Yes	Yes
Free Business Account Term Length	No Limit	24 Months
Cheapest Monthly Account Fee	No	£7
Most Expensive Monthly Account Fee	£5	£48
Electronic Payment Cost (in/out)	Free	45p
Cash Payments Cost (in/out)	£1	90p / £1.40 per £100
Cheques (in/out)	Unknown	80p / 90p per item
CHAPS Payments Cost	£20	£20
SEPA Payments Cost	No	No

Monzo vs Danske Bank UK Business Savings Rates

	Monzo	Danske Bank UK
Types of Business Savings Accounts	Instant Access Savings Pot	Business Investment Account, Fixed Term Deposit
Lowest Savings Rate (AER)	1.60%	1.65%
Maximum Savings Rate (AER)	1.60%	4.60%
Minimum Savings Amount	No	£1
Interest Paid On Foreign Currencies	Yes	Yes

Monzo vs Danske Bank UK Account Opening Times

	Monzo	Danske Bank UK
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	1 to 8 Working days	10 Working days
Do They Check Your Credit?	Yes	Yes
Current Account Switch Service	Yes	Yes

Monzo vs Danske Bank UK Features & Account Types

	Monzo	Danske Bank UK
Business Current Account	Yes	Yes
Business Savings Account	Yes	Yes
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	Yes
Branch Locations	None, online only	Nothern Ireland oly

Monzo vs Danske Bank UK Customer Support Options

	Monzo	Danske Bank UK
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 Danske Bank UK Foreign Currency Accounts

	Monzo	Danske Bank UK
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	Swiss franc (CHF) Swedish krona (SEK) Danish krone (DKK) Norwegian krone (NOK) Polish zloty (PLN) Hungarian forint (HUF) Czech koruna (CZK) Romanian leu (RON)

Other Business Services From Monzo and Danske Bank UK

	Monzo	Danske Bank UK
Business Loans	Yes	Yes
Commercial Mortgages	Yes	Yes
Invoice Financing	Yes	Yes
International Payments	Yes	Yes
Merchant Payment Services	Yes	Yes
Card Machines	Yes	No
Free Accounting Software	Yes	No

Monzo vs Danske Bank UK Banking Basics

	Monzo	Danske Bank UK
Bank Type	Challenger	Challenger
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	730427	122261
Website	Monzo Website	Danske Bank UK Website

Common Comparison Questions

Does Monzo or Danske Bank UK 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, Danske Bank UK scores 2 out of 5 based 24 Trustpilot reviews. Of which 12% are 5-star and 71% are 1-star.

Does Monzo or Danske Bank UK 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, Danske Bank UK’s iPhone App is rated 4.4 out of 5 based on 2,900 reviews. And it’s Android App is rated 4.4 out of 5 based on 2,890 reviews.

Does Monzo or Danske Bank UK 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, Danske Bank UK offers Business Investment Account, Fixed Term Deposit accounts with interest rates ranging from 1.65% to 4.60% (AER).

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Monzo vs Cynergy Bank
Monzo vs Zempler Bank (formerly Cashplus)
Monzo vs Co-operative Bank


For other business bank accounts see our guide here.