New Monzo Business Account: How long does it take?

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. :joy:

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?

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It’s unlikely to be weeks. A few days at most.

Sounds like it’s worth the wait if you’re enjoying Monzo for your personal account and see all the benefits.

I imagine it took longer to open your Llloyds account back in the day :wink:

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KYC on a business is not as simple as a personal account, greater risk involved, and could vary based on your business industry which may need a closer look.

What’s the rush?

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It actually was an hour in the end - which is what I would have expected. Kudos to Monzo. It is as fast, unbureaucratic and practical as I hoped it would be.

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That took three days.
I am impressed.

Lloyds takes 10 business days to replace a lost card.


That card is a lot nicer than I remember, my one is grey! Ordered a new one to get this design

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There! I came here to complain. How did that go? ,:joy::joy: