I’m hoping I can get some insight on the Monzo Business Accounts and on how to start a business with someone else.
Me and a friend are starting a business and will be 50/50 partners. We are obviously going to need somewhere to put our earnings and funds. Is this something that Monzo will be able to help us with once the business accounts are launched or are they for business accounts for one person.
We are really new to the idea so was just wondering how company business banking works?
Hey Sam. I’m one of the 100 that are currently trialling Monzo’s business accounts. When it rolls out to more people, and has all the features implemented, it’ll be a lot easier to add multiple people to the account, i.e. everyone can login and see things in the account, make payments, etc. I’ve just taken a look, and I can’t see a way or a form to add a person to the account right now, but I know full-well that you can!
Ok thanks. It will probably be about 3 months before we need an account so will be interesting to see if Monzo will suit us. I need to have a look into it as we have been working on a project and have only just thought about the fact that we will need to run it through a company.
You’re absolutely able to have multiple people in your account, as long as you’ve got a limited company! At the moment, you’ll just need to ask Customer Support and they’ll add them for you in the background. But, in the future, it’ll be a button in the app
On your wider question of how business banking works - to sign up, all you’ll need is your company number (from Companies House) to hand, and we’ll ask you a couple of simple questions about your company when you sign up in your app. Then, the experience is very familiar to your Monzo personal account, with some added things just for your business!
If you have any other specific questions, just let me know and I’ll do my best to answer them
Thanks @jackcully. I assumed it was a message to COps to add people, but didn’t want to say in case I was wrong…
It was a pleasure to meet you this weekend at Investival!
I’m one of the 100 that are currently trialling Monzo’s business accounts. When it rolls out to more people, and has all the features implemented, it’ll be a lot easier to add multiple people to the account, i.e. everyone can login and see things in the account, make payments, etc. I’ve just taken a look, and I can’t see a way or a form to add a person to the account right now, but I know full-well that you can!
I assumed it was a message to COps to add people, but didn’t want to say in case I was wrong…