Monzo VS Kent Reliance: Business Banking Review & Fee Comparison

Is Monzo or Kent Reliance better for your small business?

Below we look at both Monzo and Kent Reliance 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 Kent Reliance Trustpilot Reviews

	Monzo	Kent Reliance
Trustpilot Review Score (out of 5)	3.9	4
Percent 5-Star Reviews	77%	61%
Percent 1- Star Reviews	14%	22%
Total Number of Reviews	30,333	2,104

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

Monzo vs Kent Reliance App Reviews

	Monzo	Kent Reliance
iPhone Review Score (out of 5)	4.9	No Rating
Number of iPhone Reviews	189,000	No Reviews
Android Review Score (out of 5)	4.7	No Rating
Number of Android Reviews	125,000	No Reviews

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

Monzo vs Kent Reliance Account Fees & Charges

	Monzo	Kent Reliance
Free Business Bank Account	Yes	No
Free Business Account Term Length	No Limit	NA
Cheapest Monthly Account Fee	No	Free
Most Expensive Monthly Account Fee	£5	Free
Electronic Payment Cost (in/out)	Free	£10
Cash Payments Cost (in/out)	£1	£1
Cheques (in/out)	Unknown	£1
CHAPS Payments Cost	£20	£10
SEPA Payments Cost	No	No

Monzo vs Kent Reliance Business Savings Rates

	Monzo	Kent Reliance
Types of Business Savings Accounts	Instant Access Savings Pot	Easy access, Notice Account, Fixed rate, Business savings
Lowest Savings Rate (AER)	1.60%	0.10%
Maximum Savings Rate (AER)	1.60%	5.13%
Minimum Savings Amount	No	£1,000
Interest Paid On Foreign Currencies	Yes	No

Monzo vs Kent Reliance Account Opening Times

	Monzo	Kent Reliance
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	1 to 8 Working days	10 minutes
Do They Check Your Credit?	Yes	Yes
Current Account Switch Service	Yes	No

Monzo vs Kent Reliance Features & Account Types

	Monzo	Kent Reliance
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	No
In Person/Branch Banking	No	Yes
Branch Locations	None, online only	Locations in Kent only

Monzo vs Kent Reliance Customer Support Options

	Monzo	Kent Reliance
Phone Support Available	Yes	Yes
Email Support Available	Yes	Yes
App Based Support	Yes	No
Web Based Support	Yes	Yes
In person Customer Support	No	Yes

Monzo vs Kent Reliance Foreign Currency Accounts

	Monzo	Kent Reliance
US Dollar (USD) Bank Accounts	Yes	No
Euro (EUR) Bank Accounts	Yes	No
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 Kent Reliance

	Monzo	Kent Reliance
Business Loans	Yes	Yes
Commercial Mortgages	Yes	Yes
Invoice Financing	Yes	No
International Payments	Yes	No
Merchant Payment Services	Yes	No
Card Machines	Yes	No
Free Accounting Software	Yes	No

Monzo vs Kent Reliance Banking Basics

	Monzo	Kent Reliance
Bank Type	Challenger	Challenger
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	730427	530504
Website	Monzo Website	Kent Reliance Website

Common Comparison Questions

Does Monzo or Kent Reliance 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, Kent Reliance scores 4 out of 5 based 2,104 Trustpilot reviews. Of which 61% are 5-star and 22% are 1-star.

Does Monzo or Kent Reliance 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, Kent Reliance’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.

Does Monzo or Kent Reliance 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, Kent Reliance offers Easy access, Notice Account, Fixed rate, Business savings accounts with interest rates ranging from 0.10% to 5.13% (AER).

See Other Comparisons:
Monzo vs Cynergy Bank
Monzo vs Zempler Bank (formerly Cashplus)
Monzo vs Co-operative Bank
Monzo vs Aldermore
Monzo vs Handelsbanken


For other business bank accounts see our guide here.