Monzo Bank - Add to list of banks

[tellytart]

Please can you add Monzo to your list of banks.

Thanks.

[QFMathew]

Hi @tellytart

I will certainly pass this over to our team.

Am I correct in thinking Monzo don’t currently offer business accounts?

[tellytart]

They don’t do business accounts, but for sole traders they can still be a valid bank to run the business from.

[QFMathew]

Of course. Just have a bit of an interest in fintechs personally so just curious. I believe they have announced plans though for this year?

[tellytart]

Yep. According to their blog and forums they’ve applied for some of the RBS funding as part of the alternative remedies package RBS were required to implement when they received the £45bn bail-out.

So they’ll be using that funding if they get it to accelerate their implementation of a business account.

[QFMathew]

All done! You should now be able to select this from the list of banks.

[rudolph]

Just as info on this topic. We have been using Starling for some weeks now for our Ltd company. So far excellent. The integration with QF works beautifully. Much better and flexible than our previous “traditional” bank. Only problem, not for us, is that the account does not support issuing cheques. Incoming ones can be deposited in any Post Office. And the most important point, they are guaranteed by FCA up to £85,000