Independent · Written by a company director who uses one
UK business bank accounts, explained by someone who runs a company on one
Our private limited company has banked with Monzo Business for a few years, on the Team plan. This site compares it honestly with Starling, Tide, Revolut and the high-street banks. Open Monzo Business through our referral link and, if you are new to Monzo, you get £50.
Referral link: if you qualify, you and we each get £50. Eligibility criteria apply. The £50 is for people who have never had a Monzo account and complete the steps within 30 days. Sole traders and limited companies only.
Your business account
- Main balance£12,480
- Tax pot · 25%£3,120
- VAT pot£1,860
- Savings pot£8,000
Monzo Business at a glance
The account we use, and why
Monzo Business is built around the app, and it feels natural to use, with lots of genuinely useful features inside the app. Payments show up instantly, money sits in named pots, and Tax Pots move a percentage of every payment aside before we are tempted to spend it. On the Team plan the savings rate is boosted, which was one of the reasons we chose it.
The honest limits: there are no branches, paying in cash costs £1 per deposit, partnerships and LLPs cannot open an account, and lending for limited companies is thin. The alternatives page says who should look elsewhere.
How the Monzo Business £50 works
It is a link, not a code. Open it on your phone, sign up, add money and make one card payment within 30 days. The full rules, and the reasons it sometimes does not pay, are on the Monzo Business referral page.
£50 in four steps, within 30 days
- 1Open our link on your phone and download the Monzo app
- 2Apply for a business account
- 3Add money (any amount)
- 4Make your first card payment, online or in person
- No code to type. The link does the work, so open it before you start signing up.
- New to Monzo only. If you have ever opened any Monzo account, including a personal one, neither of us gets paid.
- Card payment only. ATM withdrawals, bank transfers and virtual-card payments do not count.
Referral link: if you open a Monzo Business account through our link and qualify, you and we each receive £50 from Monzo. That is our only income and it does not change what we write. How we make money.
Our verdict, in short
The best app in UK business banking, with clear limits
Written after a few years as a limited company customer. We do not take paid placements, and the referral reward is the same whatever we say.
- Best for
- Sole traders and small limited companies who run their finances from a phone and want tax set aside automatically.
- Not for
- Partnerships, LLPs and charities (not eligible), cash-heavy businesses, and anyone who wants a branch.
- The catch
- Monzo's own lending for limited companies is limited, and the savings rate you get depends on your plan.
- The bonus
- £50 each side, but only if you have never opened a Monzo account before.
Before you sign up
Check you will get the £50
The most common reason the bonus never arrives is that the person has had a Monzo account before, even a personal one. Monzo Business is also only for sole traders and private limited companies (limited by shares). Five questions tell you where you stand, and what to look at if the answer is no.
Take the one-minute checkerNothing you enter is stored.
Tools that give you a number
- £50 bonus checkerAnswer five questions to see whether you qualify for the Monzo Business referral bonus, and which accounts to look at if you do not.
- Plan pickerTick the features you need and the size of your team to see which Monzo Business plan fits and what it costs per year.
- Cost calculatorEnter your monthly transfers, cash deposits and international payments to compare the annual cost of Monzo, Starling, Tide and the high-street banks.
- Tax set-aside calculatorWork out what percentage of each payment to move into a tax pot, for Income Tax and National Insurance as a sole trader or Corporation Tax and VAT as a company.
Everything about Monzo Business
The app features we actually use- ReviewA first-hand Monzo Business review from a UK limited company: the app, tax pots, savings, team features, fees and the honest downsides.
- App featuresA tour of the Monzo Business app: instant notifications, pots, tax pots, invoicing, payment links, Tap to Pay, accounting sync, virtual cards and team controls.
- FeesEvery Monzo Business fee in one place: plan prices, cash deposits, international payments (including the 1 November 2026 change), card acceptance and what is free.
- Lite vs Pro vs TeamMonzo Business plans compared feature by feature: what Lite includes for free, what Pro adds for its monthly fee, and when Team is worth it.
- Tax potsHow Monzo Business tax pots work: automatic set-aside percentages, which plans include them, and how a limited company uses them for VAT and Corporation Tax.
- SavingsMonzo Business savings explained: the instant access savings rate, how the rate changes by plan, FSCS protection and how interest is paid.
- How to openHow to open a Monzo Business account as a sole trader or limited company: what you need, how long it takes, and how to make sure the £50 referral bonus tracks.
- Is it safe?Is your money safe in Monzo Business? FSCS protection, who regulates Monzo Bank, account freezes and what to do if something goes wrong.
How it compares
Every comparison is built from the providers’ own pricing pages, with the date we checked them. We tell you when the other account is the better choice.
Latest news
All news- Monzo Business passes one million customers: 1 in 6 UK businesses
- Monzo's business referral scheme: what version 2.0 of the terms says
- Monzo Business international transfer fees change on 1 November 2026: what is different
About this site
- : launched with Monzo Business guides, comparisons, business-type guides and four tools.
- Monzo figures verified against Monzo’s fee information, terms and referral terms on 9 October 2026.
Find the right account for your kind of business
Monzo Business is not right for everyone. These pages compare the main UK accounts for one kind of business at a time.
- Sole tradersThe best UK bank accounts for sole traders compared: free plans, tax pots, Self Assessment tools and whether you need a business account at all.
- Limited companiesBusiness bank accounts for UK limited companies: what directors need to open one, fees, Corporation Tax and VAT tools, multiple users and lending.
- StartupsBusiness bank accounts for brand-new businesses: which accept you on day one, free periods, credit checks and what to set up first.
- FreelancersBank accounts for UK freelancers: separating income, invoicing, tax pots, getting paid from abroad and the cheapest ways to do it.
- Free accountsUK business bank accounts with no monthly fee, the transaction charges that still apply, and when a free plan stops being free.
- TradespeopleBank accounts for UK tradespeople: cash and cheque deposits, card readers, CIS, materials on the card and invoicing from the van.
Sources
- Monzo Business Referral Scheme terms and conditions (source last updated Invalid Date)
- Monzo Business plans and pricing
- Monzo Business account fee information (source last updated Invalid Date)
- Monzo Business Tax Pots
- Monzo Business savings
- Monzo Business eligibility
Figures last checked 9 October 2026. If something has changed, tell us and we will correct it.