What you need to know about Monzo Business bank accounts
Get better visibility and more control over all your money with a Monzo Business bank account. Less time on finances means more time for the important stuff.
We're a fully regulated UK bank
We're regulated by all the same rules as high street banks
Open a business account online, straight from your phone
Customers voted Monzo the 2022 Best Business Banking Provider (British Bank Awards)
Award-winning customer support, 24/7
You get the best of Monzo
Move money easily with free, instant UK bank transfers
Get notified the second you pay, or get paid
Set money aside, separate from your balance, with Pots
- Earn interest on savings with our Instant Access Savings Pot. Ts&Cs Apply.
Built for your business
Give customers simple ways to pay online
Connect accounting tools so everything's in one place
Manage your business account wherever you are, with mobile and web access
Use separate virtual cards for each Pot you create, helping you control where you spend from with Monzo Business Pro
![Open a Business Bank Account Online | Monzo (9) Open a Business Bank Account Online | Monzo (9)](https://i0.wp.com/images.ctfassets.net/ro61k101ee59/4yp8yp355fZFyod4qajsrc/8981ad2a267826a68243f829d74cf737/Elspeth_Tull.png?w=800&q=75)
We're here to help, 24/7
How we help:
Chat to us in app any time, or call or email if you'd prefer
We'll answer your questions and help solve any problems you have
No need for branches, and no need to make an appointment
![Open a Business Bank Account Online | Monzo (10) Open a Business Bank Account Online | Monzo (10)](https://i0.wp.com/images.ctfassets.net/ro61k101ee59/6jGiAWc4wcyNv2997jzQSk/569d7a43705fa03cb317fa2c2ae6e2f3/Sally_and_Chris.png?w=800&q=75)
"It's nice to know when you've been paid. You know what's gone out, what's gone in, instantly."
Sally and Chris use instant notifications to:
Know when they're paid right away
Keep track of their spending
Stay on top of their invoices
Simple pricing, no commitment
Features
Pro
Lite
Monthly price
£5
Free
Tax Pots
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Integrated accounting
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Multi-user access
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Invoicing
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Exclusive offers
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6 months Xero free (optional)
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Virtual Cards
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Auto-exports
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Connect other accounts
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Mobile and web access
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Payment links
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Accept contactless payments (with Tap to Pay)
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Card payments with Stripe
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Easy bank transfers (free till 2025)
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Business debit card
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24/7 customer support
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Free, instant UK bank transfers
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Instant Access Savings Pot
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Pots to separate money
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Instant notifications
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Budget and categorise spending
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Digital receipts
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Sole trader loans and overdrafts
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Outbound international payments
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Inbound international payments
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Full UK Business current account
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Mobile signup and switching
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Apple Pay and Google Pay
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Fee-free spending abroad
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Manage scheduled payments
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Pay in cash and cheques
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up to £85,000 FSCS protection on eligible deposits
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Advanced security
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Get a Business account
Simple pricing, no commitment
Built for business
Pro
£5/m
Your business' finances, taken care of.Get Business Pro
Lite
Free
The best of Monzo, for your business.Get Business Lite
Choose a percentage to automatically set aside for tax, every time you’re paid.Tax Pots
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Integrate with Xero, Freeagent or Quickbooks, or you can auto-export your transactions, statements and invoices to Google.Integrated accounting
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Manage finances with others by adding up to two people to access the account. Available for limited companies and sole traders.Multi-user access
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Create, send and track invoices, in the app and on the web.Invoicing
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Save time and money with offers for your business.Exclusive offers
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New users: get the cloud accounting platform for 6 months free. up to £294 value. T&Cs apply.6 months Xero free (optional)
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Use virtual cards to spend from your main account or for each Pot you create, helping you control where you spend fromVirtual Cards
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With auto-exports, we'll add transactions to a Google Sheet as they happen. We can also automatically save monthly bank statements and paid invoices to Google Drive for you. Keep them in a folder for yourself, or share with whoever needs to see them - like an accountant.Auto-exports
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Get a single view of your finances by connecting your other bank accounts and credit cards.Connect other accounts
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Manage your money at home, in the office and on the go.Mobile and web access
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Your payment details prefilled in a custom link.Payment links
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We've partnered with Stripe so you can accept contactless payments. All you need is your compatible iPhone or Android™ device.Accept contactless payments (with Tap to Pay)
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Let customers pay by card or Apple Pay & Google Pay.Card payments with Stripe
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Let customers pay straight from their bank – no need to type out payment details.Easy bank transfers (free till 2025)
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Including the best of Monzo
Complete with a navy blue finish and hot coral core.Business debit card
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Award-winning, human help in the app, 24/7.24/7 customer support
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Send and receive UK bank transfers, fee-free.Free, instant UK bank transfers
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1.60% AER (variable) Interest paid monthly, no minimum deposit, maximum £100,000 balance, Ts&Cs applyInstant Access Savings Pot
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Neatly separate your money to suit your business, all in one account.Pots to separate money
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Get notified the second you pay, or get paid.Instant notifications
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Break down your spending with monthly budgets and transaction categories.Budget and categorise spending
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Add receipts to payments while you’re on the go.Digital receipts
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Overdrafts up to £2,000 and loans up to £25,000 for eligible sole traders. Our representative APR for loans of more than £10,000 and up to £25,000 is 15.8% APR. For loans up to £10,000 it’s 29% APR. For overdrafts it is 39% APR representative (variable). How does our overdraft compare? Our representative APR enables customers to compare the costs associated with the different credit products. Ts & Cs Apply.Sole trader loans and overdrafts
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International transfers to 70+ countries. Powered by Wise.Outbound international payments
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We charge a 1% fee that’s capped at £1,000 per transaction and it’s the same for all 40+ accepted currencies including EUR. It’s free to receive GBP. That’s it – no other sneaky fees or extra charges.Inbound international payments
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Plus the essentials
Because we're a UK fully regulated bank.Full UK Business current account
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Open a full bank account from your phone. Switch from your old bank, hassle-free.Mobile signup and switching
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Pay with your phone, on the go.Apple Pay and Google Pay
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We don’t mark up the exchange rate, unlike most other banks.Fee-free spending abroad
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Keep track of all your scheduled payments in one place.Manage scheduled payments
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Post cheques to us for free. Pay in cash at PayPoint for £1, up to £1,000 every 6 months.Pay in cash and cheques
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If you're a sole trader or a small business your eligible deposits may be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.up to £85,000 FSCS protection on eligible deposits
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Payment approval and card freezing. Plus fingerprint, face and PIN protection.Advanced security
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We charge £1 to pay in cash at PayPoint. And for countries outside the European Economic Area, you can take out £200 cash for free every 30 days. After that, we charge 3%. These charges cover our costs for these services and everything else is included in the plan price. No hidden fees.
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Put your spare money to work earning interest
Use Savings Pots to:
Put your spare money to work, earning 1.60% AER interest (variable) paid monthly with no minimum deposit and a maximum £100,000 balance (Ts&Cs apply)
Automatically set aside money for unplanned business expenses, a big purchase, or to reinvest in your business
Withdraw money instantly when you need it most
More about Savings Pots
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Choose what to set aside for tax
Use Tax Pots to:
Automatically set a percentage of your income aside when you're paid
Neatly separate your money, all in one bank account
Stop worrying about saving, and spend more time on your business
Only available on Monzo Business Pro for £5 a month
More about Tax Pots
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Get paid, the easy way
Target Tuition use a Monzo Business bank account to:
Create payment links or invoices in a few taps
Offer customers simple ways to pay by card or easy bank transfer
Save time on admin with all your payments in one place
Get paid with Monzo
![Open a Business Bank Account Online | Monzo (179) Open a Business Bank Account Online | Monzo (179)](https://i0.wp.com/images.ctfassets.net/ro61k101ee59/6IgPryTwzAlt2zWL4ziDRh/57b20c4041a31fda8a6bce22a57af5fa/Accounting.png?w=800&q=75)
Automate accounting with tools you already use
Integrate accounting tools like Xero, FreeAgent and QuickBooks to automatically share your balance and transactions every day with Monzo Business Pro.
If you use other tools, or don’t use any at all, you can easily export your transactions in CSV, PDF or QIF format whenever you want. We can also auto-export your transactions, statements and invoices to Google.
With Monzo Business Pro, new Xero users can get 6 months of the cloud accounting platform free (terms apply). Learn more.
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Loans for businesses
Eligible sole traders can get a loan up to £25,000. We can only offer you one loan across both your personal and business accounts.
We don’t offer loans to limited companies.
Seeing if you’re eligible won’t leave a mark on your credit file. There are no lengthy forms to fill and no charges for paying us back early.
If you’re eligible, our representative APR for loans of more than £10,000 and up to £25,000 is 15.8% APR. For loans up to £10,000 it’s 29% APR.
You need to be 18+ to apply. Ts&Cs apply.
Explore sole trader loans
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Overdrafts for businesses
Arranged overdrafts can be ideal if you need to borrow a little extra money to tide you over every now and then.
Overdrafts are designed for short term borrowing, and they’ll cost you less if you pay them back quickly. Eligible sole traders could get an overdraft up to £2,000.
How does our overdraft compare?
Our representative APR is 39.0%. You can use the APR to compare the cost of different credit products. As a representative example, if you use an arranged overdraft of £1,200 for 30 days, with 39.0% EAR/APR (variable), it would cost you £32.94. 39% APR representative (variable)
You need to be 18+ to apply. Ts&Cs apply.
Explore Sole Trader Overdrafts
![Open a Business Bank Account Online | Monzo (182) Open a Business Bank Account Online | Monzo (182)](https://i0.wp.com/images.ctfassets.net/ro61k101ee59/6nPgFp6rMpZQfnSCXwR5jU/357cdde1b8779cffa76efa210d5f206e/Andrea_and_Holly.png?w=800&q=75)
"The team has access. We know who paid what and when. Monzo's allowed us to have transparency."
The Malt Films team uses multi-user access on Monzo Business pro to:
Manage their finances together
Improve visibility across the business
Split up their workload, especially if someone's away
Meet the people behind the businesses
Monzo Business lets them get on with what they love: running their business.
Your questions, answered
Check if you're eligible
You can apply for a business bank account if you’re a sole trader or a registered limited company by shares (Ltd), based in the UK, and if you're an Ltd also a tax resident only in the UK.
Head to our eligibility criteria for more detail on businesses and industries we can and can’t support at the moment.
Your eligible deposits are protected
If you're a sole trader or a small business your eligible deposits may be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. 💰 To learn more about the businesses and deposits that are eligible, see here
Sign up straight from your phone
We’ll ask some questions about your business to see if you’re eligible.
If you have a Monzo Current Account, apply in your app. If you don’t have a Monzo Current Account, sign up in these 3 steps.
Let's talk business
Ideas for everything from getting started, to taking your business to the next level
Read more
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Independent service quality survey results
Published February 2024
As part of a regulatory requirement, independent surveys were conducted to ask customers of the largest business current account providers in Great Britain if they would recommend their provider to friends and family. The results represent the view of customers who took part in the survey.
View full results for Great Britain
Get started with Monzo Business today
Over 300,000 business owners have already changed the way they bank. Sign up online to join them.
Learn more about all the tools that help them get back to business.
Apply for a Monzo account