{"id":439652,"date":"2022-02-18T12:38:15","date_gmt":"2022-02-18T12:38:15","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=439652"},"modified":"2025-11-28T12:25:24","modified_gmt":"2025-11-28T12:25:24","slug":"monzo-vs-starling","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/business\/monzo-vs-starling","title":{"rendered":"Monzo business vs Starling business: Which is best for your business?"},"content":{"rendered":"

If you\u2019re looking for a business bank account that can be managed entirely through an app, both Monzo and Starling are worth considering. The accounts both let you open and manage an account entirely online and have slick apps that are full of features. But there are some key differences, which we explain below.<\/p>

This guide compares the Monzo Lite business account with Starling\u2019s business current account, which are both free. We compare these banks\u2019 consumer accounts in our Monzo vs Starling<\/a> guide.<\/p>

Monzo vs Starling: At a glance<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Finder score<\/th>9.3<\/span><\/span>Excellent<\/span><\/span><\/td>9.5<\/span><\/span>Excellent<\/span><\/span><\/td><\/tr>
Customer satisfaction survey<\/th>4.2 <\/span>
\u2605\u2605\u2605\u2605\u2605<\/div><\/td>
Not yet rated<\/td><\/tr>
Free spending abroad<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Interest when you're in credit<\/th>0%<\/td>0%<\/td><\/tr>
Branch access<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
FSCS protected<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Product image<\/th>
\"Monzo\"<\/td>		\"Starling<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Neither Monzo nor Starling have branch networks, meaning both business accounts must be managed digitally. Both accounts come with a contactless Mastercard \u2013 Monzo\u2019s card is grey, while Starling\u2019s is black \u2013 and account holders can use their cards abroad with no foreign transaction fees. Neither account pays interest on credit balances, while the Starling account offers an overdraft, but Monzo\u2019s does not.<\/p>

In the unlikely event that either of the banks go bust, both accounts also protect eligible deposits up to \u00a3120,000 per customer under the Financial Services Compensation Scheme (FSCS)<\/a>. Monzo and Starling are both fully licensed UK banks and are regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).<\/p>

Round 1: Account features<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Cash deposits<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Cheque deposits by post<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Cheque scanning<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Freeze\/unfreeze card in the app<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Extra cards for employees<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Accountancy software integrations<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Send money abroad<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Marketplace<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Although Monzo has no branch network, it is possible to pay in cash deposits at a PayPoint. You\u2019ll pay \u00a31 per deposit, but note that you can only pay in \u00a35 to \u00a3300 in one go, and up to a total of \u00a31,000 every 6 months. You can also cash cheques of up to \u00a3500 using the Monzo app, or for higher amounts, send them to the bank for free. However, you cannot send money abroad.<\/p>

The Monzo Lite account does not offer additional cards for employees. However, if you upgrade to the Pro account, you can get multi-user access for up to 2 employees, and each will get their own debit card. You must be a limited company to qualify.<\/p>

The Monzo Lite account also does not support accountancy software integrations, but if you upgrade to the Pro account you can integrate your account with Xero, QuickBooks or FreeAgent.<\/p>

Over at Starling, you can deposit cash into your business account at any Post Office branch. You\u2019ll pay \u00a33 for deposits of up to \u00a31,000 or 0.3% for deposits above \u00a31,000. You can also deposit cheques by post free of charge, or deposit cheques of \u00a31,000 or less via the app. You simply take a clear photo of the cheque and Starling takes care of the rest. International payments are also possible from this account.<\/p>

Payment cards are only available to each person who has access to the Starling business account, which is currently limited to company directors or sole traders themselves. This means you cannot get additional cards for employees. However, account holders can connect to accountancy software packages QuickBooks, Xero and FreeAgent from the Starling \u201cMarketplace\u201d. The Marketplace also offers link-ups with other Starling partners which offer services such as insurance or pensions.<\/p>

Winner:<\/strong> Starling wins hands down here. As well as having a higher limit for paying in cheques in-app, Starling users can also make international payments and benefit from accountancy software integrations without the need to upgrade to a more expensive account.<\/p>

Round 2: Account costs<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Monthly account charge<\/th>Free<\/td>Free<\/td><\/tr>
Fee for cash deposits<\/th>\u00a31 per deposit to pay in cash at any PayPoint or Post Office branch<\/td>0.7% or \u00a33 minimum (at Post Offices)<\/td><\/tr>
Fee for cheque deposits<\/th>Free<\/td>Free<\/td><\/tr>
Fee for payments in or out<\/th>Free<\/td>Free<\/td><\/tr>
Fee for direct debits<\/th>Free<\/td>Free<\/td><\/tr>
Fee for sending money abroad<\/th>Variable<\/td>Local network fee + 0.4% Starling fee<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

There is no monthly fee for Monzo\u2019s Lite account, and there are no fees for paying in cheques, making transfers or setting up direct debits. You will have to pay a \u00a31 fee for cash deposits at PayPoint, however, and there\u2019s no option for sending money abroad.<\/p>

Similarly, with Starling, there is no monthly fee and there are no fees for paying in cheques, domestic transfers or setting up direct debits. Cash deposits at the Post Office cost \u00a33 a time for deposits up to \u00a31,000, or 0.3% for deposits over \u00a31,000. International payments cost 0.4%, plus local fees for each currency supported. Starling offers an add-on Business Toolkit service for \u00a37 a month, which helps you create and send invoices, do your bookkeeping and calculate VAT.<\/p>

Winner:<\/strong> It\u2019s close, but we think Starling has the edge here simply because it allows international payments.<\/p>

Round 3: Spending in the UK<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Free card transactions<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Contactless card limit<\/th>\u00a3100<\/td>\u00a3100<\/td><\/tr>
Free ATM withdrawals<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Both Monzo and Starling offer free card transactions and fee-free ATM cash withdrawals in the UK.<\/p>

Winner:<\/strong> A draw. Neither account will charge you for using your card in the UK.<\/p>

Round 4: Using the card abroad<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Free foreign transactions<\/th>Unlimited<\/td>Unlimited<\/td><\/tr>
Free foreign ATM withdrawals<\/th>Unlimited within EEA. \u00a3200 in any rolling 30-day period outside EEA. 3% fee after.<\/td>Unlimited<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

You can use the Monzo card to spend at retailers and restaurants abroad with no foreign exchange fee. You\u2019ll get the Mastercard exchange rate with no additional mark-up or fees. There\u2019s also no charge for cash withdrawals in the EEA. Cash withdrawals outside the EEA have a much stricter limit, you can only withdraw up to \u00a3200 for free every 30 days. Anything over this will be charged at 3%.<\/p>

Meanwhile, Starling does not charge you for spending on your card abroad, and again, you\u2019ll get the Mastercard exchange rate with no extra fees. Withdrawing cash from a foreign ATM is also free of charge.<\/p>

Winner:<\/strong> Starling. Monzo imposes limits on cash withdrawals, while Starling doesn\u2019t.<\/p>

Round 5: Signing up<\/h3>
\n \n
<\/th>\"Monzo<\/a><\/td>\"Starling<\/a><\/td><\/tr>
Apply through the app<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Quick application<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Credit check<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Card delivery fee<\/th>Free<\/td>Free<\/td><\/tr>
Card delivery timescale<\/th>2-5 working days<\/td>5-7 working days<\/td><\/tr>
Replacement card fee<\/th>2 free replacement Monzo cards per account per year for any reason then charged \u00a35<\/td>1 free, then \u00a35 each<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

To open a Monzo business account, you will need to download the app. If you\u2019re new to Monzo, you\u2019ll also need to open a personal account first and provide proof of ID. You\u2019ll then need to answer a few questions to see if your business is eligible. You can apply if you are a sole trader or the director of a registered limited company by shares and you\u2019re based in the UK. You will need to provide details about your business, including what industry you\u2019re in and your business address, plus the size of your business and how you expect to make and receive payments. Monzo doesn\u2019t conduct a hard credit check and it\u2019s free to receive your accompanying bank card. Replacements cost \u00a35, unless you\u2019ve been a victim of fraud.<\/p>

Setting up the Starling business account must also be done via the app. You will need to provide at least one of the following documents to verify your identity: a passport, EU\/EEA ID card, UK residence card or a UK photo driving licence. You will also be asked to confirm the nature of your business and may be asked to provide invoices, bank statements, account letters, signed contracts, qualifications or payslips. Starling doesn\u2019t conduct a hard credit check and your accompanying bank card will be sent to you free of charge. Replacements cost \u00a35.<\/p>

Winner:<\/strong> Again, it\u2019s close but Starling just clinches it due to not needing to open a personal account first.<\/p>

\n
\n
<\/div>\n

These two digital rivals have plenty of similarities but when looking at the finer details, Starling\u2019s business account seems to offers a sweeter deal. \u201d<\/p>\n