Is Monzo or Triodos Bank better for your small business?
Below we look at both Monzo and Triodos Bank 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 Triodos Bank Trustpilot Reviews
| Monzo | Triodos Bank | |
| Trustpilot Review Score (out of 5) | 3.9 | 4.1 |
| Percent 5-Star Reviews | 77% | 58% |
| Percent 1- Star Reviews | 14% | 22% |
| Total Number of Reviews | 30,333 | 514 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/triodos.co.uk
Monzo vs Triodos Bank App Reviews
| Monzo | Triodos Bank | |
| iPhone Review Score (out of 5) | 4.9 | 4.6 |
| Number of iPhone Reviews | 189,000 | 1,700 |
| Android Review Score (out of 5) | 4.7 | 4.6 |
| Number of Android Reviews | 125,000 | 851 |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/triodos-bank-uk/id1238649529
Monzo vs Triodos Bank Account Fees & Charges
| Monzo | Triodos Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | No Limit | NA |
| Cheapest Monthly Account Fee | No | £3 |
| Most Expensive Monthly Account Fee | £5 | £3 |
| Electronic Payment Cost (in/out) | Free | No |
| Cash Payments Cost (in/out) | £1 | Free / £1 |
| Cheques (in/out) | Unknown | £1 |
| CHAPS Payments Cost | £20 | £20 |
| SEPA Payments Cost | No | No |
Monzo vs Triodos Bank Business Savings Rates
| Monzo | Triodos Bank | |
| 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 Triodos Bank Account Opening Times
| Monzo | Triodos Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 8 Working days | 1 to 2 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Monzo vs Triodos Bank Features & Account Types
| Monzo | Triodos Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | No |
| Accounts For Charities | No | No |
| 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 | Bristol, London and Edinburgh |
Monzo vs Triodos Bank Customer Support Options
| Monzo | Triodos Bank | |
| 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 Triodos Bank Foreign Currency Accounts
| Monzo | Triodos Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
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Other Business Services From Monzo and Triodos Bank
| Monzo | Triodos Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Monzo vs Triodos Bank Banking Basics
| Monzo | Triodos Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 730427 | 817008 |
| Website | Monzo Website | Triodos Bank Website |
Common Comparison Questions
Does Monzo or Triodos Bank 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, Triodos Bank scores 4.1 out of 5 based 514 Trustpilot reviews. Of which 58% are 5-star and 22% are 1-star.
Does Monzo or Triodos Bank 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, Triodos Bank’s iPhone App is rated 4.6 out of 5 based on 1,700 reviews. And it’s Android App is rated 4.6 out of 5 based on 851 reviews.
Does Monzo or Triodos Bank 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, Triodos Bank 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.