Edit: When I wrote this, I had read through multiple discussions online about how long it might take to open a business account. Here’s the interesting bit: At the end, while I was typing this, my account was approved, up and running.
How long did it take to open a Monzo Business Account? A bit more than an hour. Which is exactly what I expected when I opened it. I should not have gotten side tracked by reading up on it on the internet.
Kudos to Monzo. I’m happy!
Here is my old post for reference:
Hello. I am a bit shellshocked, to be honest. I’m a happy Monzo Plus Personal account user. For my Sole Trader business I use a Lloyds Business Account.
I find it tedious and difficult and bureaucratic and wanted to switch to Monzo to make things easier.
Now I read that the application can take DAYS or even weeks.
I am trying to get a CURRENT account in which I pay in money, not a loan facility. Why do I have to answer this many questions, fill an application and have to wait for days!?
I have to admit, it’s a real bummer. Might as well stay with Lloyds, it’s not THAT bad there after all.
I’ll give it a little wait, but if it turns out to take ages and be difficult, it’s defeating the purpose of having a better customer experience.
What are the experiences here? How long did you have to wait to granted access? And why on Earth all this fuss for a business CURRENT account?