Best Business

Monese Business Banking

About Monese

Editorial Team

Monese provide registered businesses, that reside in the UK, a mobile money account for easy and transparent business finance management. You can open your account from your mobile device and there are no credit checks for business owners with bad credit.

See our full Monese business account review and see how they compare with other online business bank account providers.

Monese pros & cons

Pros of Monese

  • Quick and easy to set up with no credit checks
  • Get a personal & business account, with no credit checks
  • Customer support is available in 14 languages
  • Competitive international transfer rates & fees
  • Make transfers to over 30 different countries
  • Cash deposits available with PayPoint & the Post Office

Cons of Monese

  • Not FSCS protected
  • Online-only with no cheque services

Monese business account

Monese offer one business account for £9.95 per month to UK businesses. You'll get a personal bank account free with your business account.

Here's a summary of costs and fees:

Account nameMonese Business Account
Application feeFree
Monthly fee£9.95
Bank transfersFree
Card purchasesFree
ATM withdrawals6 free per month, £1 after
Cash deposit (Post Office)£1
Cash deposit (PayPoint)2.5% (£1 minimum)

Security & protection

Monese are not a bank, they are an online business account, and as such they do not benefit from the Financial Services Compensation Scheme (FSCS), but they are FCA authorised with their own form of safeguarding your funds.

Customers will benefit from standard biometric app security, backend encryption for data protection and 3D secure payments, meaning you'll know about every transaction and need to approve them.


To be eligible for a Monese business account you must:

  • Be a registered business in the UK
  • Be a UK resident (both owners must be UK residents)
  • Have an Android or iOS device
  • Have a UK phone number

Opening an account

Here's how to open a Monese business account:

  1. Download Monese's app from the App Store, Play Store or AppGallery
  2. Complete their digital application with no credit check - Monese will confirm your eligibility
  3. Verify your ID - you'll need to upload a picture ID and a video of yourself
  4. Once approved (usually same day), you can start banking

Monese reviews

Monese averages an excellent 4.3 rating on Trustpilot, from more than 40,100 reviews, with 68% of reviewers giving them 5 stars.

They are rated 4.8 stars out of 5 on the App Store, based on over 67,800 ratings.

The Monese app on Google Play scores highly too with 4.5 stars from over 100 ,000 reviews.

Information correct as of 25th January 2024.