eBay seller being declined for a business bank account - anyone else in this situation?

Hey everyone, before anyone tells me that Monzo can’t tell me why they make their application decisions, I’m perfectly aware!

I recently started a business and I am an eBay trader, I decided to have a goal of setting up 2 business bank accounts for my company - I firstly decided to go with Revolut as I like their availability of payment options for business customers, e.g. virtual cards, I submitted my application along with everything Revolut asked for and they opened me an account! Great!

Next I had to decide on who my other bank were going to be, given I was going to be using Revolut for a lot of my purchasing, I wanted a good bank to hold my businesses funds in, get paid by eBay through, etc, I’ve been banking with Monzo personally for around a year, so decided to go with them as I enjoy the experience and functionality of the app, I applied for a business bank account with Monzo and was instantly declined, thought it was a bug, so I re-applied making sure everything was correct, and it took around 24 hours for them to get back to me, again declining me!

Just wanted to ask if anyone else had had this experience with Monzo who operates in a similar sector, i.e. online retail - my plan is to try once more with Monzo and if unsuccessful, I’ll try Starling, HSBC or Barclays

They won’t be able to tell you why they declined you access, due to regulatory requirements. Your best bet is to just try other banks.

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I had the same issue recently. Applied for an account and was declined, eBay trader here also. I suspected it was something to do with the nature of the business so haven’t bothered trying again.

That said, I was one of the first 100 to get early access to Monzo’s business account a while ago and I was granted an account as an eBay trader. I had to answer a few different questions at the time as they were after a good spread of diverse businesses to test the account. I closed the account as that business came to a natural end at some point, but have not been able to open a new account for my latest venture.

In the end I went with Starling and had no issues opening an account.