Is Monzo or Fair Everywhere better for your small business?
Below we look at both Monzo and Fair Everywhere 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 Fair Everywhere Trustpilot Reviews
| Monzo | Fair Everywhere | |
| Trustpilot Review Score (out of 5) | 3.9 | 3.1 |
| Percent 5-Star Reviews | 77% | 27% |
| Percent 1- Star Reviews | 14% | 64% |
| Total Number of Reviews | 30,333 | 11 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/faireverywhere.com
Monzo vs Fair Everywhere App Reviews
| Monzo | Fair Everywhere | |
| iPhone Review Score (out of 5) | 4.9 | 2.2 |
| Number of iPhone Reviews | 189,000 | 5 |
| Android Review Score (out of 5) | 4.7 | 3.9 |
| Number of Android Reviews | 125,000 | 7 |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/fair-everywhere/id1331905256
Monzo vs Fair Everywhere Account Fees & Charges
| Monzo | Fair Everywhere | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | No Limit | NA |
| Cheapest Monthly Account Fee | No | £12.50 |
| Most Expensive Monthly Account Fee | £5 | £12.50 |
| Electronic Payment Cost (in/out) | Free | 30p |
| Cash Payments Cost (in/out) | £1 | £1.50 / £3 + 2.75% |
| Cheques (in/out) | Unknown | 50p per cheque |
| CHAPS Payments Cost | £20 | £30 |
| SEPA Payments Cost | No | No |
Monzo vs Fair Everywhere Business Savings Rates
| Monzo | Fair Everywhere | |
| 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 Fair Everywhere Account Opening Times
| Monzo | Fair Everywhere | |
| 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 | Yes |
Monzo vs Fair Everywhere Features & Account Types
| Monzo | Fair Everywhere | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | Yes |
| 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 Fair Everywhere Customer Support Options
| Monzo | Fair Everywhere | |
| 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 Fair Everywhere Foreign Currency Accounts
| Monzo | Fair Everywhere | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
|
Other Business Services From Monzo and Fair Everywhere
| Monzo | Fair Everywhere | |
| 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 Fair Everywhere Banking Basics
| Monzo | Fair Everywhere | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 730427 | 504547 |
| Website | Monzo Website | Fair Everywhere Website |
Common Comparison Questions
Does Monzo or Fair Everywhere 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, Fair Everywhere scores 3.1 out of 5 based 11 Trustpilot reviews. Of which 27% are 5-star and 64% are 1-star.
Does Monzo or Fair Everywhere 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, Fair Everywhere’s iPhone App is rated 2.2 out of 5 based on 5 reviews. And it’s Android App is rated 3.9 out of 5 based on 7 reviews.
Does Monzo or Fair Everywhere 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, Fair Everywhere offers None accounts with interest rates ranging from NA to NA (AER).
See Other Comparisons:Monzo vs Countingup
Monzo vs State Bank of India (UK)
Monzo vs Charity Bank
Monzo vs Cumberland Building Society
Monzo vs Redwood Bank
For other business bank accounts see our guide here.