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Monzo Business review
The most polished day-to-day banking app, with genuine FSCS protection.
Updated 2026-07-03 • Last reviewed 2026-07-12
Features
- Consumer-grade app experience adapted for business (pots, spending breakdowns)
- FSCS protected, same banking licence as Monzo's personal accounts
- Free and paid tiers
Fees
- Free tier available
- Paid tiers add team member access and extra features
Pros
- Arguably the smoothest day-to-day app experience of any UK business account
- Genuine FSCS protection on eligible balances
Cons
- No bundled free company formation
- Invoicing and business tools are narrower than Tide's or ANNA's
Eligibility
UK sole traders and limited companies.
We earn nothing from this recommendation, we're pointing you here because it's genuinely a strong option.
Alternatives
FAQs
Is Monzo Business FSCS protected?
Yes, it operates under the same banking licence as Monzo's personal accounts, so eligible balances are protected up to the scheme limit.
Does Monzo Business form companies for free?
No, you'll need to register your company separately, Monzo doesn't bundle formation the way Tide, ANNA, Revolut or Wise do.
Not sure Monzo Business is the right fit?
Answer a few quick questions and we’ll recommend the setup that actually fits your situation, with an honest reason behind it.
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