The future of Monzo Business Accounts

We’re ready to start working through our waitlist and slowly give more people access to business accounts!

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interesting - Monzo credit credit cards coming later ? :slight_smile:

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Cash deposits at the Post Office :eyes:

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Interesting. Looking forward to trying it out!

Oh thank goodness. After the fourth Tide outage in one month, I am so ready to move both my business accounts over to Monzo.

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What about being able to have a Monzo business account that balances your personal account … no overdraft fees on your personal account if your business account more than covers the overdraft. Small business owners eliminate a huge expense immediately, as cashflow can prevent the payment of dividends, forcing company owners into debt.

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What about business account owners transfer funds to their personal accounts to avoid overdraft charges?

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Will credit cards and post office cash deposits be available via personal accounts too?

Post office and Pay Point deposits look great, big motivation for me to move away from only being able to pay into one city centre branch of my current bank. I’m just wondering how I would go about having change orders fulfilled?

because the funds dont legally belong to you, it belongs to the company ? with all the tax implications etc etc

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I really can’t wait. My Business is set to start on 01/07 but I am still waiting for a proper bank account to get started.

@jackcully

Is receiving out of europe (non-SEPA) international payments not even in the long term roadmap?
I would love to use monzo for my business but I have clients in Singapore for example, which means I would have to keep another business account to receive these.

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We don’t have any formal plans yet, but it’s definitely something we know a lot of businesses rely on to help manage their cash flow better - so we want to look into it more once we get all the basics right!

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Mine starts then also and using Coconut in the meantime.

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International payments outside of SEPA are definitely on the list! Just moved it up next to SEPA payments so it’s more easily seen :blush:

Great Read Jack! We are really excited to get offered a Business account here at Thorness! Any chance of this happening sooner?

I have Tide and Coconut opened but they are not a proper bank but based on prepaid tech so no instant transfers etc.
While I like whole thing about coconut and tide and don’t like this pre-paid accounts.
Starling is not offering accounts for businesses with two people with significant control over the company so I am waiting for Monzo now.

I like the idea of that. In my mind it should work more like Intelligent Finance did where you’re main accounts reduced your mortgage/ loan/ credit card balance.

So so impressed with Monzo :monzo: Business account offering especially the ability from the offset to have two people with significant control to be able to open accounts

Plus all the things we love :green_heart: about Monzo personal account and more! Plus all the rest that is coming soon, this is going shake up the way business banking is done. Well done Monzo :clap:

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Really looking forward to this!!! :tada::grinning:

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