We have a limited company and one of its directors is another limited company. Does Monzo business support this?
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.
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
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
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,
Ah, as always a quick read of T&Cs answers every question
Thank you Chris. Never thought to study those!