Open a Business Bank Account Online | Monzo (2024)

• 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

• 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.

• 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

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

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

Pro

£5/m

Your business' finances, taken care of.Get Business Pro

Lite

Free

The best of Monzo, for your business.Get Business Lite

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

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

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

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.

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

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

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

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.

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

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.

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