Will there ever be a business account?

[richardgrey]

I know there have been other threads about this, but I currently do my business banking with Starling, and have become very disillusioned with them.

Is there ever a chance that Monzo may venture out into business banking for one person band, contractor types?

[Errota]

I’m in the exact same shoes as you, I wanted a modern styled business bank but there didn’t seem like any good options - ended up going with Starling as well, but can’t say they’re amazing.

Would much rather Monzo Business

[Feathers (MikeF)]

There was some consultation done a few months ago with sole traders etc, they were asking for volunteers to talk to from the forum. I haven’t heard anything since but it implies that there is at least some consideration in that direction.

[danbeddows (Dan)]

I really do hope Monzo does consider business bank accounts in the future. I’ve had an account with three different banks (including fintech) and I’d switch in a heartbeat.

[richardgrey]

Same here! Hopefully it’s on their radar at some point.

[Hatticus (Tom)]

I asked them on Twitter recently, and they said it’s something they’re looking in to.

@richardgrey What got you disillusioned with Starling, out of interest? Have been waiting for them to add FreeAgent integration before checking out their business account.

[SC95]

This is what @Feathers referred to;

Freelancers, sole traders and contractors on Monzo – we’d love to chat!

Hey everyone, We’ve been reading through some great threads from freelancers about the financial pains of running your own business. For example, here, here, here and here. If you’re a sole trader, freelancer or contractor, we’d love to talk to you about how you manage your money and use Monzo! Why we want to hear from you There are 3.4 million “sole proprietorships” in the UK. That means freelancers, sole traders and contractors account for 60% of all businesses! A further 0.9 million limit…

[Drew58 (Drew - Joint account feature parity please Monzo)]

I have a business account with Starling and as a start up business their category spending allocations are disappointing. I know what I’m getting is better than a standard legacy account however they could have done so much better.
If Monzo do business account ms please ensure they are different than personal accounts and not just not a quick swap over.

[simonb]

It’s something we’re looking into and we’re doing research on to see if it makes sense for us We don’t have any kind of ETA on that as it stands right now though - if that changes we’ll certainly be letting you all know

[richardgrey]

Sorry for the delayed reply, manic couple of days!

I’ve just got sick of their attitude towards their customers. For example, recently had an issue. It took almost 48 hours just to get a CS response, and then they think they can fob your complaint off by sending you a pair of socks in the post.

If I wanted my bank to be like that, I wouldn’t have moved my business banking from HSBC!

To add some context, I was a massive advocate for both Monzo and Starling, but Starling seem to have changed over the last couple of months.

[richardgrey]

Thanks Simon! Fingers crossed it happens at some point in the future.

[Hatticus (Tom)]

Thanks for the response. That’s poor from CS.

I know what you mean. I have to say I initially preferred Starling over Monzo, but am leaning more back to Monzo now again.

[Hatticus (Tom)]

Thanks @simonb! A couple of requests to chuck in to you thinking - FreeAgent integration (and similar services), and also a way to get CSVs/statements from Pots.

[Ordog]

@richardgrey

then they think they can fob your complaint off by sending you a pair of socks in the post.

Sorry to laugh but… socks?!?

[philbuk (Philip Barton)]

We use Monzo for our current account and for business we use Tide which works in a similar way and we are very happy with it.