Limited company as director

Monzo Chat Business Banking
#1

We have a limited company and one of its directors is another limited company. Does Monzo business support this?

#2

Yes, you can be a director of as many companies as you like and still be eligible for a Monzo Business account.

Although, you cannot currently have multiple Monzo Business accounts - so if he has a Monzo Business account with his other company, he will not yet be able to join the account of your joint business, if that makes sense.

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#3

Thanks Dan. Your 2nd point makes sense.

I think I’ve confused you with my question looking at your first point. Our limited company has 5 directors - 4 of which are people, the fifth is another limited company. That’s the key question I can’t find the answer to

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#4

I think the question isn’t quite this. The business in question has multiple directors: some people but at least one a holding company.

Not sure if Monzo supports corporate structures with holding companies

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#5

Does this answer your question?

If you’re a LTD, to be eligible your company needs to:

[…]

  • have no corporate persons of significant control or corporate directors,
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#6

Ah, as always a quick read of T&Cs answers every question

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#7

Thank you Chris. Never thought to study those!

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