For me personally, I need the following before I can/will switch to Monzo Business Banking:
Cheque Imaging
Many of my clients are older and do not use online banking, and insist on paying me by cheque. My current provide Lloyds Bank has offered CI for a while now and it has made dealing with cheques so much easier. I need Monzo to offer this before I switch.
Bank Feed Support in FreeAgent
I use FreeAgent for my business accounting which is great. They have the ability to automatically import your transactions from your bank account. Before I can switch to Monzo Business, I need the Monzo feed supported in FreeAgent. This could be achieved by Monzo working with FreeAgent directly, or via their partner Yodlee.
Sorry about that, @TTJJ! Definitely didn’t intend to be misleading at all! Our payments team works on building payments related features, which includes joining new payment schemes (like the Image Clearing System). Earlier this year we paused our work on cheque image clearing. But we’re always re-evaluating ideas and planning for what comes next!
I just received my invitation but there are a few dealbreaker features missing for me:
Quickbooks integration is a must.
I need to be able to have either multiple accounts for the same business or have debit cards only draw from a designated pot. Otherwise we can’t organise well enough income and expenses from different parts of the business.
Until then I don’t think I will be able to make the switch as the admin process would be too onerous.
The price was the deal breaker for me. Nothing Monzo are offering is worth the £5/month, for me. Starling is pretty much identical, feature-wise, and is free. If I wanted to pay, I’d stick with Lloyds for their online banking/branch network.
I don’t use the starling business account so I’m not aware of the differences. Do they allow more than 1 person access, virtual cards, invoicing and a web interface? I believe these are all potential future features when the monzo account rolls out to more
As discussed elsewhere, a free tier is an absolute must. £5/m for Monzo’s current offering is no better than high-street or other competitors (in some cases worse), and the £5/m is comparable to high street costs, and far in excess of competitors (Starling, essentially the same feature set, £0/m)
Bells and whistles of business banking would be nice to have, but a basic free tier seems to me to be a must to draw customers not currently using dedicated business banking anywhere, and seems a no-brainer to then upsell features upon this foundation for more complex requirements and larger businesses
thanks for sharing 
- stay tuned for updates.
for Starling. No idea on virtual cards or invoicing.