Information about our Business Current Account Services

Note: This is a list of common queries. It does not represent the full list of queries you can raise in relation to your account.

*We provide 24/7 service on all of these activities for all urgent queries.

Note: this is a list of common actions. It does not represent the full list of actions you can take in relation to your account.

* Cheques up to £500 can be paid in via mobile banking, cheques above £500 must be sent in via post.

We are obliged to notify the Financial Conduct Authority if we become aware of a major operational or security incident which prevents our customers from using our payment services.

Financial Conduct Authority rules require us to provide them with a report of our complaints data every six months. In certain circumstances, we are also required to publish a summary of our complaints data.

The most recent summary is available at https://monzo.com/legal/complaints-data/

The Financial Ombudsman Service publishes its complaints data every six months. You can see their complaints data about us at http://www.ombudsman-complaints-data.org.uk/

A good way to compare the cost of our overdraft with other overdrafts or other ways of borrowing is to look at the APR. The APR shows the cost of borrowing over a year.

Note: The Monzo Business Current Account includes all of our current accounts, including those with a monthly fee.

Note: Monzo Business overdrafts are only available for Sole Traders

We give customers an account number and enable them to start paying into the account:

Note: These figures are based on the time taken from receiving all the information and documents we ask for on this page, in a case where we don’t need further information or documents to open the account.

Once an account is open, we give customers a debit card:

Once an account is open, we give customers internet banking:

Once an account is open, customers can apply for an overdraft which is given:

We replace debit cards:

To open any of our accounts, a new customer will need to provide us with the documents and information set out on this page. We may request additional information or documents in individual cases.

The requirement to publish the Competition and Markets Authority independent service quality survey results for business current accounts can be found here.