Monzo vs Revolut business account – which one should you choose?

But when you scratch beneath the surface, their offers start to look very different. This guide compares Monzo’s Lite and Pro business accounts with Revolut’s Basic and Grow plans – covering everything from features and fees to customer support and who can actually apply.

And because we’re ANNA, we’ll also show you how we stack up – especially if you’d prefer your business account to come with admin support, tax tools, and real humans on hand 24/7.

Monzo vs Revolut at a glance

If you want the short version, here it is: Monzo gives you a free plan with most essentials built in, while Revolut’s entry-level plan starts at £10/month but includes stronger tools for international businesses.

Takeaway: Monzo keeps things simple with a genuine free plan, while Revolut’s entry-level plan comes with multi-currency features and more team tools – but at a price.

Who are these accounts best for?

⚡ The cheapest

If cost is your main concern, Monzo Lite is the obvious winner. You get a proper UK business account with free domestic transfers, card payments, and FSCS protection, all without paying a penny in monthly fees.

Revolut’s cheapest plan starts at £10/month – not huge, but still a regular cost that adds up.

Verdict: Monzo Lite is the cheapest option for UK-based freelancers and small businesses.

⚡ Best value for money

When you weigh up what you actually get for the price, Monzo’s £9 Pro plan is a solid middle ground. It adds invoicing, accounting integrations, and expense cards without breaking the bank.

Revolut’s Grow plan (£30/month) offers more advanced tools – higher FX limits, team approvals, bulk payments – but you’ll only feel the value if you’re working internationally or running a larger team.

Verdict: Monzo Pro delivers stronger everyday value for small UK businesses, while Revolut Grow pays off for global operations.

⚡ Best for sole traders

If you’re a sole trader or freelancer, simplicity and cost control come first. Monzo Lite gives you everything you need – free account, transfers, and a friendly app. Pro adds tools like invoicing and integrations if you grow.

Revolut’s Basic plan is fine for cross-border freelancers, but UK-only workers may find they’re paying for features they never use.

Verdict: Monzo Lite is the better fit for most sole traders and freelancers.

⚡ Best for limited companies

Running a limited company often means multiple directors and team members – and this is where Revolut shines. Even its Basic plan includes team access, physical and virtual cards, and spend controls.

Monzo Pro allows limited collaboration but reserves bulk payments and permissions for its more expensive Team plan.

Verdict: Revolut is better for limited companies that need multi-user access and expense control.

⚡ The smartest app – Revolut’s edge

Both banks are app-first, but Revolut’s platform is more feature-rich. You can hold, send, and exchange over 25 currencies, get detailed analytics, and manage global expenses all in one place.

Monzo’s app, while simpler and highly intuitive, is built for domestic banking rather than cross-border operations.

Verdict: Monzo’s app wins on clarity and ease of use; Revolut’s app wins on depth and global capability.

Who can open an account?

Both banks cater to small UK businesses but have slightly different eligibility rules.

Monzo

• Sole traders and limited companies.
• At least one director must be listed on Companies House.
• Verification is completed entirely in-app.
• Some industries (like finance or crypto) are excluded.

Revolut

• Sole traders, partnerships, and limited companies.
• Requires proof of business registration and identity checks for all controllers.
• Operates as an e-money institution, not a bank.
• Some industries excluded (e.g. gambling, crypto).

Pricing and fees

Money matters. Monzo offers one free plan and one affordable paid option, while Revolut starts charging from its first tier.

Monzo pricing

• Lite – £0/month (core features included)
• Pro – £9/month (adds invoicing, accounting integrations, and expense cards)
• Team – £25/month + £5 per additional user after 6

Revolut pricing

• Basic – £10/month (multi-currency and team access)
• Grow – £30/month (more transfers, FX, and controls)
• Scale – £90/month
• Enterprise – custom

Value for money

For small, UK-based businesses, Monzo Lite or Pro provides most essentials at little or no cost.
Revolut’s plans are better suited for international traders, but the monthly fees are higher.

Takeaway: Monzo keeps costs low for domestic use. Revolut is more powerful for cross-border payments but costs more from day one.

Features comparison

Payments and transfers in the UK

Both support Faster Payments, Direct Debits, and standing orders.

Cash and cheque handling

Monzo: PayPoint deposits (£1 each) and free cheque deposits by app/post.

Revolut: No cash or cheque handling.

Cards and spend management

Monzo: Debit card included, virtual/expense cards on Pro.

Revolut: Physical and virtual cards for multiple users, spend limits and approvals from Grow.

Invoicing and integrations

Monzo: Accounting integrations and invoicing in Pro.

Revolut: Built-in invoicing tools, with more automation in higher plans.

Lending and overdrafts

Monzo: Overdrafts up to £2,000 for eligible users.

Revolut: No overdraft or lending features on business accounts.

App and user experience

A business account lives or dies by its app. Both are highly rated but take different approaches.

App interface

Monzo is colourful and intuitive, designed for clarity.

Source: App store

Revolut is packed with global and financial tools, offering more control but slightly more complexity.

Source: App store

You can explore both apps yourself:

• Monzo on the App Store / Google Play,
• Revolut on the App Store / Google Play.

Web access and APIs

Monzo provides light web access and exports.

Revolut offers stronger API connections and advanced integrations.

Onboarding speed and switching

Both allow quick setup via app. Monzo supports the Current Account Switch Service (CASS).

Customer support and reviews

Support can make or break your day. Here’s how they compare.

App Store / Google Play ratings

Both have excellent ratings, with Revolut often praised for features and Monzo for simplicity.

Trustpilot complaints

Monzo: occasional complaints about frozen accounts or verification delays.

Revolut: frequent complaints about compliance checks and slower support during high volumes.

Security and trust

Your money’s only as safe as the company that holds it.

FSCS protection

Funds up to £85,000 are protected under FSCS with Monzo.

Revolut funds are safeguarded but not FSCS-protected.

Fraud prevention and controls

Both offer 3D Secure, biometrics, and instant card controls.

Bank stability and licensing

Monzo is a fully licensed UK bank.

Revolut operates as an e-money institution in the UK.

Which is best for your business?

• Freelancers and sole traders: Monzo Lite or Pro is the most cost-effective choice.
• Small companies needing invoicing or bookkeeping tools: Monzo Pro fits best.
• Limited companies with international payments or multiple currencies: Revolut Grow is more flexible.
• Businesses handling cash or cheques: Monzo has the clear advantage.
• Companies valuing deposit protection: Monzo again.

Alternatives to consider

ANNA – your business account and admin sidekick

Here’s where we do things differently.

ANNA isn’t just a business account. It’s admin support in your pocket (the clever kind). You get smart tools to manage money, automate paperwork, and handle all the other stuff no one tells you about when you start a business.

• Create and send invoices in seconds
• Capture receipts and auto-categorise your expenses
• Get VAT and Corporation Tax filed – automatically
• Add your team – not just co-directors
• 4 free SWIFT payments a month on our Big Business plan
• Real humans, 24/7 – every plan, every day

And yes – ANNA starts at £0/month.

Wise Business

Best for holding and receiving foreign currencies. If your business invoices abroad or gets paid in multiple currencies, Wise offers excellent rates and low-cost international transfers.

Tide

Quick setup and simple tools for early-stage businesses. Tide isn’t a bank (it’s an e-money account), but it gives you fast access to business banking features with minimal paperwork.

Mettle by NatWest

A free account backed by a big name. Mettle is a no-frills option, useful for startups testing the waters. But features are limited compared to Monzo, Revolut, or ANNA.

Verdict: Monzo vs Revolut

Checklist:

• Solid free banking and UK protection → Monzo Lite
• Best low-cost upgrade with invoicing → Monzo Pro
• Global payments and team access → Revolut Grow
• Built-in admin and tax tools with automation → ANNA Money

Whichever you choose, your business account should work for you – not just hold your money. Whether it’s team access, tax filing, or international flexibility, there’s an option here that fits.