Thinking about opening a business account

My wife is about to start
Her own mobile hairdresser business is using Monzo a good option for the business account. Taking payments and purchasing stock and moving funds out as a way of salary for her

If her business is supported then I don’t see why not. But we can’t decide for her, she needs to look at the account’s features and make a decision.

Hairdressing can be a cash heavy business so if she plans to deal with a lot of cash, it might not be the best option. For this reason hairdressers are also seen as high risk, so not sure if Monzo even supports this business type.

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Do you have a question?

If she takes cash payments Monzo might not be the best bet.

Edit - hadn’t seen ndrw’s post :joy:

I’d strongly recommend you look at Mettle, particularly if she’d appreciate the fantastic free Freeagent accounting software that comes with it, that basically does your accounts & self assessment for you.

And yes, check out the limits for depositing cash, as that could be an issue. (£500 per day, 23k per year with Mettle, free deposit at post offices)

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