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Starling and Monzo are two prominent and well-known challenger banks in the UK. And both offer business bank accounts.
Starling Bank was founded in 2014 and first offered its business bank account in 2018. Launching a little later, Monzo was founded in 2015 and introduced its own business bank account in 2020.
In terms of their business accounts, both banks have free and paid tiers, depending on what you and your organisation need. They both are protected by the Financial Services Compensation Scheme (FSCS), are FCA regulated and operate as licensed banks.
Read on to find out more about Starling and Monzo business bank accounts.
Compare the latest business bank accounts from top UK providers, including:
Starling vs Monzo business accounts at a glance
Below are some of the key details to consider when comparing Starling and Monzo business accounts.
| Starling Bank | Monzo | |
|---|---|---|
| FCA regulated | Yes | Yes |
| FSCS protection | Yes | Yes |
| Licensed bank | Yes | Yes |
| Free UK transfers | Yes | Yes |
| Cash deposits | Yes | Yes |
| Free ATM withdrawals | Yes | Yes |
| Integration with accounting software | Yes | Yes (for a fee) |
| International transfers | Yes | Outbound only |
| Create and send invoices | Yes (for a fee) | Yes (with a paid account) |
This information is correct as of 24 June 2022.
Starling vs Monzo business accounts features
Below are currently some of the features available through Starling Bank and Monzo business accounts:
| Starling Bank | Monzo | |
|---|---|---|
| Mobile app | Yes | Yes |
| Online banking | Yes | Yes |
| Debit card | Yes | Yes |
| Multi-user access | Yes | Yes (for a fee) |
| Deposit cheques | Yes | Yes |
| 24/7 customer support | Yes | Yes |
| Manage scheduled payments | Yes | Yes |
| No fees abroad | Yes | Yes |
| Add digital receipts to payments | Yes | Yes |
| Euro business account | Yes (for a fee) | No |
| US Dollar business account | Yes (for a fee) | No |
This information is correct as of 24 June 2022.
Starling vs Monzo: what do the customer reviews say?
Below are the current customer reviews for Starling Bank and Monzo.
| Starling Bank | Monzo | |
|---|---|---|
| TrustPilot | 4.3 out of 5 (29.8k reviews) | 4.4 out of 5 (21.8k reviews) |
| App Store | 4.9 out of 5 (328.2k reviews) | 4.9 out of 5 (102.3k reviews) |
| Google Play | 4.6 out of 5 (81.1k reviews) | 4.7 out of 5 (82.2k reviews) |
Information correct as of 24 June 2022.
Summary
If you are looking for a business bank account, then both Starling and Monzo are suitable options. Each has plenty of features that can help you manage your business and reach your goals.
Before choosing your business bank account, it is a good idea to thoroughly compare the offerings from a number of providers, and find the option that is the best fit for your needs.
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