Monzo business account review
Monzo Business Lite is a solid free bank account, but the features Monzo is famous for now live on the £9 a month Pro plan. Tax Pots, which skim a percentage of every payment into a ringfenced pot, moved out of reach of free users, along with invoicing and Xero, QuickBooks and FreeAgent integrations. Monzo is a licensed bank, so deposits are FSCS-protected up to £120,000 on every plan.
| Monthly fee | Lite has no monthly fee. Pro is £9 a month (first month free) and adds Tax Pots, invoicing and accounting integrations. Team is £25 a month. |
| Protection | Licensed UK bank. Eligible deposits protected up to £120,000 by the FSCS. |
| Cash deposits | £1 flat fee per deposit at PayPoint or the Post Office. Monthly deposit limits: £3,000 for sole traders, £10,000 for limited companies. |
| Invoicing | On Pro and Team plans only |
| Accounting | Xero, QuickBooks and FreeAgent integrations on Pro and Team |
| Who can open it | Sole traders and limited companies. Some business types are excluded; Monzo checks at signup. |
Lite versus Pro, honestly
Lite gets you the account, the app, categorised spending and cash deposits at PayPoint or the Post Office for £1 a time. That is enough for a simple service business that invoices from elsewhere.
Pro at £9 a month (first month free) adds the automation that makes Monzo worth choosing: Tax Pots that set aside your tax slice the moment money lands, native invoicing, and the accounting integrations. Team, at £25, adds multi-user controls.
The cash ceiling
Deposits cost a flat £1 and are capped monthly: £3,000 for sole traders, £10,000 for limited companies. Fine for incidental cash, wrong for a cash-led trade. Compare Zempler at 0.55% with no such cap, or Starling's 0.7% with a £20,000 annual cap for sole traders.
One more check before you apply: Monzo excludes some business types at signup, so have a look at its eligible activities list if your trade is unusual.
The ledger, balanced
In credit
- Free Lite plan at a licensed bank, FSCS-protected to £120,000
- Tax Pots automate the worst habit in self-employment (Pro)
- First month of Pro free to test it
In debit
- Tax Pots, invoicing and accounting integrations all need Pro at £9 a month
- Cash capped at £3,000 a month for sole traders
- Some business types excluded at signup
Questions people actually ask
Does the free Monzo business account include Tax Pots?
No. Tax Pots are on the Pro plan at £9 a month and the Team plan at £25. Lite, the free plan, does not include them.
How do cash deposits work with Monzo Business?
Pay in at any PayPoint or Post Office for a £1 fee per deposit. Sole traders can deposit up to £3,000 a month, limited companies up to £10,000.
Is Monzo Business FSCS protected?
Yes. Monzo is a licensed UK bank, so eligible deposits are protected up to £120,000 on all plans, including free Lite accounts.
Verified 3 Jul 2026 against monzo.com plans-pricing and help pages. Confirm details with the provider before applying. We may earn a commission through links on this page.