Business Accounts - What do you do?

Hello everyone!

I know a lot of people have business accounts on the forum with various banks so I was just curious what kinds of business everyone uses them for?

Are you a sole trader, partnership, etc…? Do any of you use it for streaming income? How big is your business?

Secondly which provider do you use and why?

Just a curious though :slight_smile:

Sole Trader, digital services such as web hosting design etc

Was using Coconut, but now on Monzo Pro, like it being in one banking app, but it is being let down with categories etc and setup compared to Coconut, I may even change back but I may end up paying more in FX charges with Coconut than the £5 money fee of Monzo


Take a look at Mettle. It’s very good.

I’m a private tutor for GSCE and A-level science and maths. I have very minimal expenses, so I don’t use any accounting programs - I just type up invoices by hand into a template once a month per student.

When a second free business account becomes available I will also open one for our rental property. Currently this all goes through my personal account.

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Retired now, but making my living in affiliate marketing training and mentoring. Perfect for lockdown. Working towards buying a villa in Spain in the near future.

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Nice one, hopefully you’ll be able to get a nice villa soon! Also, welcome to the community!

New categories just went live today as long as everyone on your business account has updated and ran their apps they will show.

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Would love to sign up for a sole trader account but have been told not possible right now. I know of 4 others in similar positions. Are Monzo not accepting new accounts right now and can anyone recommend other providers?

Already have them, I just think the overall presentation is better on Coconut :wink: better designed and geared towards businesses, where as this is just and update on personal accounts

I think people are failing to get a business account due to probably wanting to deposit more cash than card transactions.

Recommendation would be Coconut, I haven’t tried another others other than Monzo Business account.

How odd, our businesses don’t handle cash and seem to fit the other eligibility criteria so maybe Monzo simply aren’t accepting new accounts :smirk: but thank you @Juggy69, I will have a look at Coconut.

See this link the way Coconut categories look


I use this one and I’m impressed at how easy to use it is. Also has a free subscription to FreeAgent which I am using. Impressed with that as well.

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Thanks @anon70107404, great that they provide access to FreeAgent for free too :smiley:

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