Will there be fees?

Monzo Chat Business Banking
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So I currently have a business bank account elsewhere and the fees aren’t too unreasonable however I would love to know what your plans are for a monthly account fee or whether you are going to move away from the monthly fees that most of the older banks favour?

I’d love to be fee free but understand there are limitations on what you can do with that…

On a separate note, I would love to see integration with FreeAgent although I did see that someone on the trial had already created a share extension to enable that functionality already whilst you work on official API access - just thought I’d get my +1 in on that one!

Can’t wait to hear more and hopefully get my own Monzo Business account soon (IT Consultancy Limited Company)

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The current fee is set at £5 a month.

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Have a look at Starling’s business current account, they have no monthly or transaction fees :slight_smile:

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Considering this is a Monzo community forum and I’ve expressed my interest in getting a business account I’m not really that likely to look at other banks right now given I already have an account with a high street bank… Thanks for the link though?

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You’re very welcome. I thought it might be useful, considering your post suggested you are looking for a new bank account and would love it to be fee-free. :man_shrugging:

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I’m very interested in is there a fee for the account is the first 2 years free and is there a monthly fee what will the percentage fee be

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Fee at the moment is £5 a month for business accounts.

I don’t think there are any other fees, but I’m sure someone will be around to correct me if I’m wrong.

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HI

How much will business banking cost?

I have my Ltd company with HSBC and have been with them since 2005. My monthly account fee was £3 and every few years it goes up. Its currently £5.50 month and today they wrote to me to say its going up to £6.50 a month, the HSBC service use to be great with a full business service in branch which they closed and moved everything on the phone! I am now ready to move to another provider and monzo looks like the future…

Hurry up and bring this to market Monzo :slight_smile:

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I’ve heard 3 a month floating around

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any introductory free period?

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£5 a month for testers atm. I think they’ve said it will stay that way but need to wait for launch to confirm

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I imagine exact details are still up in the air

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That’s right! :slight_smile: Right now it’s £5 flat a month for business accounts.

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If it is £5 per month i’ll just stick with Tide.

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How much is Tide?

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Starling advertises that they have no monthly fees “If you have fewer than 10 employees and less than £1.7m in annual turnover. Business accounts are also free for larger businesses for a limited time.” so I imagine they plan on keeping it that way for the foreseeable future.

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These two things don’t quite line up!

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Yes they do. The foreseeable future is a limited time.

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I’ve just merged your topic into a few existing threads to keep the discussion together

I’ve merged it badly though so it’s it a bit out of sequence :sweat_smile:

Sorry. But the answer is still in this thread

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No monthly charge, 20p on transfers from banks I belive. Nothing much,