Business account owners: let's get to know you

(Tom ) #21

Some more early thoughts.

  • Summary needs to be removed. It’s not relevant for business and it should be turned off and replaced with something else.
  • Categories - these also aren’t particularly relevant to business. Again, I think these should be removed in their current form.
  • Shared contacts and payees from other accounts need to be removed
  • Pleased to see embossed “BUSINESS ACCOUNT” on card so I can easily tell it apart from my other card. It’s a bit odd that it still has “INVESTOR” on it though.
  • There is no way of telling cards apart in Apple Wallet other than memorising the last four digits.
  • What is the plan for large scale multiple outgoing payments? It would be impossible in current format.

The shared pots bug is still live by the way @daniel.cannon

(Daniel Cannon) #22

Thanks again for the detailed feedback!

Summary needs to be removed. It’s not relevant for business and it should be turned off and replaced with something else.

This is something we have heard from a number of people, unfortunately replacing Summary is a pretty large task so I can’t promise we will change anything for a little while here. Also I am not sure removing the tab entirely in the short term would make sense but I am interested to hear what you think.

Pleased to see embossed “BUSINESS ACCOUNT” on card so I can easily tell it apart from my other card. It’s a bit odd that it still has “INVESTOR” on it though.

We hope to have a completely separate card design in the future, I will look into ensuring that investor cards are not sent for businesses though. We should be able to update Apple/Google Pay in the next couple of weeks to have a different card design.

The shared pots bug is still live by the way @daniel.cannon

Ah sorry about that, the fix is ready to go but I didn’t manage to release it on Friday. I should be able to release it first thing on Monday!

(Daniel Cannon) #23

Also a follow on question regarding Summary, what kind of tool would you like to replace it? What information are you looking for?

(Tom ) #24

Thanks for the updates. Good stuff.

Some simple cashflow analysis would be a great start to replace Summary, aka Xero’s dashboard:

or historical bank balance over time:

I realise these aren’t instant additions of course.

(Chris Middleton) #25

Great to see this thread open. I’ll post more thoughts later (I’d already provided some email feedback to @jackcully which I’ll repost here later).

Just a quick one to add my agreement to one of the main themes here… Personal and business accounts need to be separate - that includes payee lists particularly, but also limits and cash withdrawal allowances. The accounts belong to two separate entities (a person and a business) and that distinction needs to be made.

I’d personally prefer a separate app for the business account but I realise I’m likely to be in a minority with that one. But I don’t like the fact the aggregator service I use (moneydashboard) is now pulling in my business finances in addition to my personal finances, and that’s due to them being accessed by the same login credentials. Or perhaps Monzo can add an option to allow or disallow aggregator access for each account?

Interested to keep an eye on this thread and see how it all shapes up - great to be able to influence the development.

And thanks to @jackcully and all at Monzo for selecting project forty two to take part in the trial :slight_smile:


I’m not a business user, but had a question about this regarding multiple users which was answered already (you can have multiple users).

A few things that weren’t answered were…

  1. Do ALL users of the business account need to have a Monzo personal account?
  2. Is it £5 per USER on the business account, or simply £5 per account with unlimited users?
  3. What is to stop someone adding multiple business users and taking advantage of the new foreign ATM limits for each user (this may be answered already depending on the answer to the first two questions)?

Cheers :smiley:

(Tom ) #27
  1. I don’t know the answer to this one
  2. It’s per account, not per user
  3. I think the limits will be for the business account as a whole, but are currently incorrectly linked to the main individual account holder

(Chris Middleton) #28

Couple of other things I noticed.

When I share account details, it gives the account name as my own name rather than the company’s name. Again, it’s confusing the personal and the corporate.

It shows the profile photos of the two personal users. Not so bad with two, will get messy with multiple users, and I’d prefer just one profile pic to be displayed where I could upload the company logo.

First one of those I think needs fixing quickly, second not so urgent - there are bigger things that need to be done.

(Chris Middleton) #29

Hi, @daniel.cannon just a quickie. I’m not seeing business pots in my personal current account, but I am seeing them in our joint account - the other director on the business account is the same person (wife) I share my joint account with. Assume this will be fixed by the same release tomorrow, but thought I’d mention it :slight_smile:

(Jolin) #30

What about the debit card? Does this have the company name on it? I would think it should, but realise there might be other opinions in this.

(Chris Middleton) #31

Don’t have it yet, so don’t know. I’ve seen mention of “business account” being embossed (presumably on the line below the name, where the two dots are on the joint account card) but I don’t know. I understand them not wanting to order custom plastic stock for a small trial but in the long run I’d prefer a different coloured card; for those who may have more than one company then company name embossed below the cardholder’s name (as on Amex Business) would also be useful.

(Daniel Cannon) #32

Eventually we should have a new card design specifically for business account cards. Possibly something that looks like the joint account card, although maybe it will be something completely different. I am sure we will update you all when we figure something out.

For the time being as @projectfortytwo says the company name is embossed under the cardholder’s name. For sole traders “BUSINESS ACCOUNT” is embossed instead of the company name. Eventually when we allow signup through the app I imagine you will be able to choose what is embossed here.

I also fixed a bug today which meant that some cards were using the investor card design, sorry to anybody that was affected by this.

(Chris Middleton) #33

Working on a Sunday @daniel.cannon? Looking forward to moving some money across this week and receiving my card. Hopefully you’ve abbreviated my company name to the trading name of “Project Forty Two”… not sure you’d get that plus “Solutions Limited” across the width of the card :grin:

(Tom ) #34

For anyone interested, this is my redacted card.

As Daniel mentioned, it was an error for the Investor card to be sent out.

(Michael) #35

Few questions as an interested non business owning crowdfunder

  1. Might have missed it above, amongst talk of embossed lines, but are there plans to go with BUSINESS where INVESTOR?

  2. Did you get the INVESTOR card on account of being a crowdfunder (which I can see you are) or on account of having a business account?

  3. Is the card live and working with you business card now?

(Jason Artemis Winstanley) #36
  1. I imagine, and hope so. It would make sense! (Plus as confirmed by @daniel.cannon, the Business account cards shouldn’t have been Investor versions!)
  2. Yep, Investor cards are for those who invested through any of the crowdfunder rounds only, not business account holders. :slight_smile:
  3. Mine is, happy to confirm!

Not a Monzo staff member, so… Take my reply with a few tonnes of salt. :stuck_out_tongue:

(Daniel Cannon) #37

Yep this is all correct :slightly_smiling_face:

(Chris Middleton) #38

Looks like the pots fix has been applied @daniel.cannon?

(Daniel Cannon) #39

Haha you beat me to it. Yep I deployed the fix about 30 minutes ago.

((╯°□°)╯︵ ┻━┻) #40

The alignment of your name and ‘Business Account’ irks me :confounded: