The 100 test business accounts have been going a while. When is the business account going to be generally available?
Last update I’ve seen on this was not for a few months yet
Shame, customer service at Barclays going downhill. They’ve just closed their foyer drop boxes nationwide so there’s no option but to queue for ages to pay cheques in. It’s like going back to the dark ages. Thank goodness we don’t get too many cheques these days. Why would any company make a retrograde step like this?
You can deposit a cheque up to £500 via the app.
Edit: I believe you can also deposit cheques in their ATMs and via post office.
I have an account with Barclays and had to update a signatory last week.
Utterly impossible to do as the signatory uses paperless banking and they refused to add him without a posted (not printed) statement from his bank. Even with a verified bank branch printed, stamped and signed, statement they flatly refused as their policy says it has to be one posted to their verified address.
It’s like being forced to live in the stone ages
I shared this update in another thread - which I think will probably be relevant here too!
We’re working really hard on bringing more accounts to you soon. We’re really excited about business accounts, and we really can’t wait for more of you to give them a try! Thanks so much for bearing with us in the meantime
Is there any indication when you will release more business accounts for Alphe/Beta testing or atleast a timeline to GA release?
Hey @nicoll! We don’t have anything to share timeline-wise just yet - but as soon as we have an idea as to beta/general release, we’ll absolutely let you know here!
My business is just about to be finalised, I could really do with a business account with you guys. please?
See post above?
Long-time Monzo user, first time poster
Really excited for business accounts to be launched - my business account with Metro has reminded me why I fell in love with Monzo in the first place.
I saw the following the other day and was just wondered whether there’s truth in the article about an internal decision to de-prioritise business accounts: https://www.fnlondon.com/articles/fintech-bank-monzo-slows-business-account-plans-after-missing-out-on-grant-20190515
I originally signed up to Metro as they were ranked as one of the most ethical business accounts. As an ethical business and given their recent press, I need to move my accounts. Any information on a likely release date (1 month, 3 months, 6 months, a year) would help me make a decision on whether I move now or hold off and wait. Appreciate you may not want to be held accountable in a public forum, but I think a very rough idea would help some people make decisions critical to their business.
I agree an update would be nice with a very very rough release date
Thanks for taking the time to get in touch here, welcome to the forum
I’m afraid we don’t have any time frames just yet, but we’re hoping to post a more comprehensive update in the next few weeks.
We’re making some really good progress, though, and we’re looking forward to a wider launch at some point soon. I’m really sorry this isn’t more specific, but please do keep your eyes peeled for that more comprehensive update
Thanks for getting back so quickly @jackcully. It must be frustrating having to take the same line and repeat yourself - you should take it as a massive compliment that so many people are chomping at the bit for this.
I’m going to go with Starling - they’ve got an established product that can pretty much satisfy my needs from the get go. The main ones being:
- Integration with Xero
- FSCS protection
- No fees for transactions - the fact they also don’t have a monthly fee is a bonus, but to be honest I’d be happy paying a monthly fee
- Able to send more than £10,000 per day
- Ease of setting up payees, sending payments, speed of payments etc.
The main thing they’re missing from my perspective is the ability to buy and hold currency - as I buy stock from Europe this has a massive impact on my bottom line. I don’t know what you guys have planned, but can’t see this happening during the initial launch - Transferwise is really good for this anyway.
I’ll keep an eye out for future updates regardless - it’s a really exciting product for Monzo!
Ah, @tfinch23 - you’re very welcome! Thanks for sharing.
We’re just excited to be building this - we know that lots of you want it, so we can’t wait to get it into your hands
Good luck with everything though, and I hope we see you soon!
When will the business accounts HAPPEN, this month, next month or next year. I signed up right at the beginning of the registration , I know this as I was told by a person within Monzo. Now I find one of my business associates has within the last month been offered an Alpha Account when he only registered last month , not six months ago as I did. SO my question to the business team is why does he get to open an account and I do not… so much for Monzo not giving pref treatment to certain types of companies. I can’t wait for the reply!
Closed in favour of the higher thread count at Business Accounts - Why have I heard nothing from Monzo?