About the Business Banking category

(Richard Cook) #1

Come and discuss Monzo Business Banking!

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(Charlotte Brown) #2

Do I have opportunity to use it for my personal needs?

(Mehul) #3

Hey Richard,

I just had a question about displaying company logo/address etc for when payments are being made into/from a Business account into a monzo standard account (for example monthly wage payments to employees).

How would get this set up?

Below is an example of “Wasabi” which shows the location and the company logo, something I would like to get set up for the incoming payments for monthly wages:

Here is an example of what I am currently seeing:

(Simon) #4

In regards to business banking I would rather be running a business than dealing with paperwork.

I want something relatively easy to set up, instantly credits received funds to my accounts, doesn’t limit balances as some online banks do and is relatively stress free.

I don’t mind being offered other products like over drafts etc however rarely use or need one so this isn’t a big factor.

Simplicity is key.

I have 2 new businesses due to open in 2020 to go along with my current interests and as part of this we will need a banking facility which can handle large amounts of payments for the initial set up. At present only high street banks can offer this and I would be interested in Monzo can compete.

One example is that approx. £500,000 will be deposited on day 1 and on day 2 a payment of £200,000 will need to be made to a supplier. Would Monzo be able to work to these terms?

On a weekly basis we anticipate £20,000 worth of card payments to be received. Would it handle this?

Regards,
Simon

(Richard Cook) split this topic #5

A post was split to a new topic: Request: Instant Payments

(Richard Cook) closed #6
(Jack Cully) #7

Hey @CharlotteBrown - the Business Account will only be for businesses, but you can always have a personal current account, if you haven’t already!

(Jack Cully) #8

Hey @mezo!

We’re definitely thinking about how do to this soon! Keep your eyes peeled over at Monzo.com/business for more when we have it :blush:

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