Tide vs Monzo Business Account – which one should you choose?

But dig a little deeper, and the way they handle pricing, features, and access can look quite different. This guide compares Tide’s free and paid business accounts with Monzo’s Lite and Pro plans – covering everything from fees and eligibility to support and user experience.

And because we’re ANNA, we’ll also show you a smarter alternative – a business account that doesn’t just hold your money but actually helps you run your business.

Tide vs Monzo at a glance

If you just want the quick overview, here’s the essentials. Tide focuses on fast setup and modular pricing (add extras as you go), while Monzo keeps things simple with two tiers – one free, one paid.

Takeaway: Tide gives you a wider choice of pricing tiers and add-ons, while Monzo offers full FSCS protection and a cleaner user experience – though some key features are locked behind its £5/month Pro plan.

Who are these accounts best for?

⚡ The cheapest

If you’re focused on keeping costs as low as possible, both Tide and Monzo have free entry-level accounts.

Tide’s free account gives you a proper business IBAN, UK transfers, and invoicing, but charges per transaction (20p after the first 20 payments each month). You’ll also pay fees for cash deposits.

Monzo Lite is completely free and has no per-transaction charge – but lacks invoicing, accounting integrations, and international payments unless you upgrade.

Verdict: Monzo Lite is cheaper to run day-to-day, while Tide’s free plan can feel more flexible but adds up if you make lots of transfers.

⚡ Best value for money

When you look at what you get for your monthly fee, Tide’s paid plans start to make sense. Tide Plus (£9.99/month) adds a 24/7 legal helpline, priority support, and 20 free transfers; Tide Pro (£18.99/month) includes unlimited transfers and more expense tools.

Monzo Pro costs less at £5/month, but it’s mainly about unlocking invoicing, accounting integrations, and multi-user access.

Verdict: For sole traders or microbusinesses, Monzo Pro is better value; for active businesses making frequent payments, Tide Pro’s unlimited transfers justify the higher price.

⚡ Best for sole traders

Sole traders need simplicity and speed – and both apps deliver. Tide’s biggest advantage is instant setup: you can open an account in minutes with just a selfie and your ID. You’ll get instant invoicing, expense management, and payment categorisation built in.

Monzo Lite works well for simple income and expense management, but if you want to send invoices or integrate with your accounting tool, you’ll need to pay for Pro.

Verdict: Tide’s free plan gives sole traders more flexibility and tools right away, without an upgrade.

⚡ Best for limited companies

If you have multiple team members or directors, you’ll need shared access. Tide’s Pro and Cashback plans allow multiple users and expense cards, while Monzo restricts that to the £5/month Pro tier.

However, Monzo’s edge is regulatory protection – it’s a licensed bank with FSCS cover, while Tide is an e-money account.

Verdict: Monzo Pro wins for companies that value regulated banking and FSCS protection. Tide’s higher plans work well for small teams needing more advanced expense controls.

⚡ The smartest app – Monzo’s edge

Monzo’s app is widely praised for its sleek, colourful interface and personal finance features adapted for business users. You get instant notifications, “pots” for budgeting, and intuitive payment flows.

Tide’s app is solid and business-focused – more practical than pretty. You can issue invoices, categorise expenses, and link to your accountant directly.

Verdict: Monzo’s app feels smoother and more engaging, while Tide’s is functional and efficient.

Who can open an account?

Both target UK-registered small businesses, but there are slight differences.

Monzo

• Sole traders and limited companies
• At least one director listed on Companies House
• Verification via in-app ID and business questions
• Certain industries restricted (e.g. crypto, gambling)

Tide

• Sole traders and limited companies
• Operates through ClearBank (for GBP accounts)
• Quick in-app verification
• Industry exclusions apply

Pricing and fees

Money always matters. Here’s how the core pricing compares.

Tide pricing

• Free: £0/month – 20 free payments, invoicing, and expense tracking
• Plus: £9.99/month – 20 free transfers, priority support, 0.5% cashback
• Pro: £18.99/month – unlimited transfers, multiple users, expense cards

Monzo pricing

• Lite: £0/month – basic payments and cards
• Pro: £5/month – invoicing, multi-user access, and integrations

Verdict: Tide’s modular structure can save money if you tailor it carefully – but Monzo’s simpler pricing makes budgeting easier.

Features comparison

Both accounts cover the essentials but differ in how they bundle tools.

Payments and transfers

Both support Faster Payments, Direct Debits, and standing orders. Tide caps free transfers depending on your plan; Monzo doesn’t.

Cards and spend management

Tide offers expense and virtual cards on paid plans, ideal for small teams. Monzo Pro provides similar options for £5/month.

Invoicing and integrations

Tide includes invoicing even on the free tier, with integrations like Xero, Sage and QuickBooks. Monzo reserves those features for Pro.

Lending and overdrafts

Tide doesn’t currently offer overdrafts. Monzo does, up to £2,000 (subject to eligibility).

App and user experience

Both are designed mobile-first, but their approach differs.

App interface

Monzo’s app is colourful and consumer-friendly.

Source: App store

Tide’s is clean, minimal, and designed around business workflows.

Source: App store

You can explore both apps yourself:

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

Web access and exports

Tide supports a web portal for reports and CSV exports. Monzo remains mostly app-only.

Onboarding and switching

Both offer near-instant signup, and Monzo supports the Current Account Switch Service (CASS). Tide does not yet offer full CASS switching.

Customer support and reviews

Support quality can make a big difference to your experience.

Common complaints: Tide users mention limited support hours on free plans, while Monzo users report occasional account freezes during verification.

Security and trust

FSCS protection

Monzo protects up to £85,000 per business via FSCS. Tide funds are safeguarded under e-money rules (not FSCS).

Fraud controls

Both provide biometric login, instant card freezing, and spending alerts.

Licensing

Monzo is a fully licensed UK bank. Tide partners with ClearBank for regulated safeguarding.

Which is best for your business?

• Freelancers and sole traders: Tide’s free plan gives more practical tools without a subscription.
• Growing limited companies: Monzo Pro’s multi-user access and overdraft make it more complete.
• Businesses needing FSCS protection: Monzo wins.
• High-volume payment businesses: Tide Pro with unlimited transfers is more cost-effective.

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 a helping hand for everything from invoices to taxes.

You get:

• Instant invoicing and payment tracking
• Smart receipt capture with automatic expense categorisation
• Built-in VAT and Corporation Tax tools (that file for you)
• 4 free SWIFT payments a month on the Big Business plan
• Add your whole team – not just co-directors
• Real humans available 24/7

And yes, ANNA starts at £0/month.

Revolut Business

Great for companies trading in multiple currencies, with strong FX tools and international transfers. Not FSCS-protected. Read more about Revolut business account.

Wise Business

Best for freelancers paid in foreign currencies. Offers multi-currency balances and low-cost transfers.

Mettle by NatWest

A free, simple account backed by NatWest. No monthly fee, but limited advanced tools. Read more about Mettle business account.

Verdict: Tide vs Monzo

Checklist:

• Cheapest setup → Monzo Lite
• Best invoicing tools → Tide (Free or Plus)
• Most regulated and protected → Monzo Pro
• Best for team access → Tide Pro
• Built-in admin and tax tools → ANNA

Whichever you choose, make sure your business account helps you save time – not just hold your cash. Whether that means automation, human support, or just fewer apps to manage, there’s an option here that fits.

Disclaimer: All info accurate as of October 2025. Always check official websites for the latest details.