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Kim J

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Review of the Monzo, Business Account:

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DO NOT USE FOR BUSINESS BANKING

I would not recommend anyone to use Monzo as a Business Banking account. I opened one up 2 months ago as the online business banking company I currently use have started adding extra charges. I hadn’t got around to transferring everything over yet with direct debits, standing orders and my card machine companies for taking payments as I just hadn’t the time. I scheduled time to do this next week as the charges from my current on are grating on me now. I had my personal Monzo card stolen on holiday last week and reported it and ordered a new card. I have now had an email to say they are closing down my business account but can not tell me why. I am so glad I hadn’t spent not spent the time transferring everything over yet. There is absolutely no reason for them to close this account, it is so bizarre and weird to me, I don’t understand at all. Had I of switched everything over and been fully utilising them for 2 months and got this, it would of caused me so much stress and anxiety to switch everything over again with no reason or explanation as to why. I’d stay well clear if they can just shut an account like that for no reason other than reporting your personal card being stolen, which I froze straight away when I realised. Reviewed on: 15th August 2025

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