Monzo starts testing business accounts

Mobile bank announced it has launched the first 100 Monzo business accounts

Monzo starts testing business accounts. Source: shutterstock.com

British mobile-only bank Monzo announced that it is launching a small test of business accounts to 100 sole traders and limited companies. Customers can join the waiting list to open a Monzo Business Account as soon as this option will be available. The bank expects for this to happen by the end of the year.

We won’t lump you in a big bucket labeled small or medium-sized alongside businesses you’ve got nothing in common with. We want to offer you a set of features that solve the problems you’ve actually got, helping you to achieve your goals. We want to take away the hassle of financial management and empower you with information to better understand your business, manage your cash flow, and make better decisions
Monzo

The first 100 customers will be able to get started, pay and get paid, manage their money, keep track of budgets and expenses, and more. According to Jordan Shwide, Operations Analyst at Monzo, the bank is starting with a small test so that the team can understand how account features and internal processes need to change before they can launch business accounts more broadly.

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