Multiple Business accounts

Hi, I remember @jrdn mentioning the new navigation for business accounts will support multiple business accounts so that we can easily switch between them.

i was wondering when that will drop. I have multiple Lloyds accounts under one LTD company and i like that setup. I’m not bothered about paying fees on each account and happy to do the same with Monzo. But i was wondering if this is on the Radar anytime soon?

We have multiple accounts for departments, an expense account and a client funds account.

Currently loving my Monzo Business account but would be nice to have the ability to have more than one. My main account is Monzo, but i still have 5 Lloyds accounts open!

Also, would be nice if you can get multiple accounts under one LTD company, and not as startling do, where you can only have one per LTD/sole trader.

I believe Tide offer multiple sub accounts under one LTD company which is nice. Something along those lines would be perfect!

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Thanks for sharing @Hjeewa! It’s definitely on our radar, but not likely for 2019. It’s something that we want to look into in early 2020. Would love to hear more about why you prefer to have separate accounts versus separating the money into different pots.

Do different people have access to each account? Do you use them differently?

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hi @jrdn

pots are really good for separating/saving money. however you cant pay from pots with a separate card. You cant reconciliate accounts through pots and overall, additional accounts are just a completely different ball game.

With separate accounts, we can make payments with separate accounts and cards, we can join them up separately with accounting softwares, we can separate money completely for departments, marketing and expenses and more.

To clarify, pots are really awesome also. i love the feature of moving 20% of my income into a tax account, and having a tech fund pot and more is awesome.

But they are just different beings entirely.

Best
H

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Hi

Just checking in on this. I am very much in the same boat.

We have projects that have different departments and budgets. Tracking and reconciling these from a single account is very complicated.

If you had team cards assigned to a specific pot each with their own statements or record of transactions this would solve the problem. Or yes, sub accounts with their own cards.

I can see this being useful for a lot of business customers

Cheers

Tim

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I am in a situation where my business partner has another business who use Monzo. So it seems I am not unable to give him access the our business account I have just setup with Monzo also, because he cannot access more than one Business account. There seems no good reason for there to be this limitation. Any update on this?

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This is a great piece of information! Thanks for sharing!

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I’d also like multiple business accounts - one for my self employed business and one for my rental property.

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I have 2 businesses one uses Monzo and the other is currently stuck with Starling, would love to have both with Monzo.

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Is there an update with Monzo multiple business accounts?
I’m really waiting on this as I need a client money account.

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I want to open two business accounts because I have two separate businesses! One selling software and one selling gin. Completely separate entities, so “two pots” won’t work.

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Are there any updates on offering the ability to have multiple business accounts? Like other people here, I have a few companies with different sets of directors so can’t use pots.

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