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Craig Illsley

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Review of the Monzo, Business account:

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Witholding my funds.

Extremely poor experience with Monzo Business. My business changed ownership and a new director was appointed. Monzo contacted me claiming there was no active director, despite me providing evidence that there was. I was then told that all I needed to do was add the new director as a user on the account and everything would be fine. I followed their instructions, but Monzo rejected the application and then decided to close the account anyway, refusing to provide any meaningful explanation despite the conflicting advice they had already given me. To make matters worse, once the account was closed, Monzo then said they could not release the remaining business funds to a new bank account because I was no longer the director and that the new director would need to deal with it. So they closed the account because of an issue surrounding the director, rejected our attempt to add that director when instructed to do so, and are now making it extremely difficult for the business to recover its own money. At this point it feels like Monzo are holding the business's funds hostage. The communication has been contradictory from start to finish, and getting a straightforward resolution has been unnecessarily difficult. I would not recommend Monzo Business based on this experience. Reviewed on: 16th September 2026

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