I was afraid of that. Instead of speeding up integration with Xero, getting SEPA up and running, and all the key things a serious business account needs, first new feature is invoicing?
This would’ve taken zero focus away from getting SEPA working, my understanding is the roadblocks at the moment are regulatory rather than technical.
Fair enough about the Xero integration, though. Being able to hook into existing accounting packages is something that a lot more people have said would be important to them.
For me to completely switch to Monzo Business Banking, it would need to have Freeagent integration.
Ooooooooooh. Invoicing looks nice. Definitely be using that.
Can I be 101 beta tester
It seems that instead of building a ux focused on business (either standalone or part of the current app) they’re redesigning the personal account app into a business app. So for now the summary tab that doesn’t make any sense and the invoicing function is basically a beefed up “request money” tab.
Reading through the Help us understand what features you’d like to see in a Monzo business account! thread, I feel this needs a different approach. Xero/Freeagent integration and multi currency functionality should be addressed even from the beta.
PS I understand that the SEPA delay is a separate problem but I just can’t imagine a business account that doesn’t do international transfers.
The one for the business my family ran for three generations (until my cousin retired and closed it and the business).
(OK, the account probably did but my point is more that it was a never-used facility so there is scope to grow the feature set without affecting all potential customers.)
I have to say I am very excited to leave Barclays once and for all, the amount of hours I’ve had to spend on the phone in the past with this bank is exceptionally unacceptable.
My Monzo current account is absolutely brilliant and the support are very hasty on responses. I look very forward to moving all of my finances for my business to Monzo bank.
I hope this is optional. I have an accounting package to do my invoicing through, don’t need my bank to do it too!
I really hope that Monzo decide to work on the things that banks can do and accounting packages can’t (like setting up debit cards for multiple people on a business account with configurable limits per card), before implementing things that we can already do with our accounting packages regardless of which bank we use!
What about very small businesses who don’t use accounting software, just spreadsheets or the back of an envelope? Don’t you think this could be useful to them?
Sure, but if they want to do these things they already have plenty of choice of software and/or services to do them. I don’t think Monzo offering them is going to be a game-changer, and developing a good substitute for accounting software, even for the smallest of small businesses, is going to be a huge sink of time and money.
Agreed that this might be a priority issue; getting the core product right should be top of the list. Having said that making money work for everyone is the ethos so facilitating money management in one place without the need for extra software is a cornerstone of the Monzo offering.
I can safely say monzo we’re far quicker than Tide at opening my business account
I’ll try a faster payment on Friday, I imagine monzo will win this one too as Tide is never instant and can take up to two hours.
Would like to see XERO integration please.
Monzo investors have just been sent a nice summary of the quarter this included a cool segment on business banking, there was a fair bit to read through but I think these goals are the most interesting bit
We set 3 goals for the quarter, and are well on our way toward achieving them!
- Submit a compelling application for the Capability and Innovation Fund - we’re on track to submit our application later this month.
- Improve the user experience for our first 100 users and build a product that solves the basic banking needs for the smallest SMEs - we’ve fixed a bunch of bugs that our users have identified, and also rolled out two new features this month.
- Scale processes in preparation for a broader roll out - we’re working on automating our manual processes so that we can take on more users.
Hi there - I realized that when I registered to the business banking waiting list, it was under my old email not the new one. How do I change this and get back into the waiting list with the correct address?
My biggest gripe is having a card that’s the same colour… It really grinds my gears …
We should have a thread for things that do that.