I’m new here. I’ve banked outside of traditional banks since 1987 (Ie Nationwide building soc) and ideally seeking a business account (for my small limited company), that has good app, good integration with accounting software, and strong ethics on what its cash reserved are used for (particularly don’t want any of my money invested in oil, gas, coal and related old-school energy sector).
I’ve signed up with a personal account (very impressed with the in-boarding process and app and understand integration is covered), but understand it’s going to be difficult to set up a business account using the same mobile phone number. I also got spooked by a newspaper article a couple of weeks back (telegraph or guardian) about people’s accounts being locked (for suspected dodgy activity), but hard to get unlocked again. I support this proactive approach to security but as I intend to be completely honest and undodgy, need reassurance I’ll be able to continue business transactions once any red flags are checked and cleared.
The final hurdle is I’m not sure Monzo is adopting an investment strategy on where it’s funds are used. As an EV driver for 4+ years I now realise the only thing holding back mass adoption is the existing big industries that stand to lose out long term. I’d recommend an EV without even mentioning the environment (cheaper better), but it increases in iron mental awareness and now means I see no justification for setting out to dig up, leak or burn any more stuff to power transport (100+ years of putting combustion particle into the only atmosphere we have seems enough now).
I’d welcome existing users thoughts on all there concerns because the properly ethical alternatives don’t seem to have app or even business accounts on offer.
Not at all. If you have a personal account you can apply for a business account provided you meet the criteria. Many on here have. Not sure where you got this impression from.
Edit: Welcome, btw!
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I don’t think monzo invest anywhere at present, but the customers tend to be the types that are more sensitive to ethical concerns so they’re unlikely to suddenly start investing in anything dodgy.
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