Monzo VS Triodos Bank: Business Banking Review & Fee Comparison

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

Sources:
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

Sources:
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:	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	Australian Dollar (AUD) Bulgarian Lev (BGN) Canadian Dollar (CAD) Swiss Franc (CHF) Chinese Renminbi Yuan (CNY) Czech Koruna (CZK) Danish Krone (DKK) Euro (EUR) Hong Kong Dollar (HKD) Croatian Kuna (HRK) Hungarian Forint (HUF) Indian Rupee (INR) New Israeli Sheqel (ILS) Japanese Yen (JPY) Mexican Peso (MXN) Norwegian Krone (NOK) New Zealand Dollar (NZD)

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).

See Other Comparisons:
Monzo vs Soldo
Monzo vs Cambridge Building Society
Monzo vs PayPal Debit
Monzo vs Allica Bank
Monzo vs Cater Allen


For other business bank accounts see our guide here.