Monzo launches free and paid-for business bank accounts

Wednesday 18 March 2020 11:05 CET | News

UK-based challenger bank Monzo has launched business bank accounts after an extensive trial period over the last 12 months.

The free Monzo business account is called “Business Lite” and has a feature-set similar to Monzo’s consumer account, in addition to providing web access not just mobile app-based banking. The paid business account is called “Business Pro” and costs USD 5 per month.

It has a host of business features, including “Tax Pots,” which lets businesses put aside a percentage of inbound payments in preparation for a future tax bill (a simple but fairly ingenious feature), integration with third-party accounting software, multi-user accounts, and in-app invoicing tools.

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Keywords: Monzo, business account, product launch, in-app invoicing, challenger bank, neobank, UK, United Kingdom
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech