Breakdown

[alexs (Alex Sherwood)]

@Lawalsey

Would it not be a good idea to offer business accounts?

It wouldn’t make sense for Monzo to offer business accounts, Tom explains why here -

Personal vs. Business bank accounts

We don’t plan to offer full business accounts because the requirements are so dramatically different. Multi-user access controls, card acquiring, accounting, invoicing, etc, etc Sole-traders and freelancers are probably close enough to a personal current account that Mondo would work for those cases.

Tide & Coconut are taking a similar approach to Monzo with services aimed at businesses & freelancers respectively.