{"id":541856,"date":"2024-09-18T16:44:42","date_gmt":"2024-09-18T15:44:42","guid":{"rendered":""},"modified":"2026-03-27T14:09:42","modified_gmt":"2026-03-27T14:09:42","slug":"tide-vs-monzo","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/business-banking\/tide-vs-monzo","title":{"rendered":"Tide vs Monzo: Which is better for fees and features?"},"content":{"rendered":"

Tide and Monzo are both good business accounts worth considering, though they have slightly different fee structures and inclusions. Our guide shows you what each is good for so you can make a choice based on the needs of your business.<\/p>

We compare Tide\u2019s free account with the Monzo Lite business account, which is also free. Both have paid options that you can upgrade to as your business grows.<\/p>

Tide's cashback offer for new accounts<\/h3>\nTide is currently offering new users who open a business account a \u00a3250 cashback reward<\/strong>, making it a strong sign-up incentive compared with any other provider. T&Cs apply.\n
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\nClaim offer<\/a>

Tide vs Monzo: Vital statistics<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/a><\/td><\/tr>
Finder score<\/th>8.9<\/span><\/span>Great<\/span><\/span><\/td>9.3<\/span><\/span>Excellent<\/span><\/span><\/td><\/tr>
Customer satisfaction survey<\/th>4.2 <\/span>
\u2605\u2605\u2605\u2605\u2605<\/div><\/td>
4.2 <\/span>
\u2605\u2605\u2605\u2605\u2605<\/div><\/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>
\"Tide<\/td>		\"Monzo\"<\/td><\/tr>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Both these accounts are digital only, so there\u2019s no branch access available. They come with Mastercard debit cards and offer free spending overseas. You\u2019re able to open a linked savings account with each one and Tide offers a higher rate of interest on its linked account.<\/p>

While both offer business accounts, Tide isn\u2019t actually a bank. It\u2019s a business financial platform regulated by the Financial Conduct Authority (FCA) and offers e-money accounts and business bank accounts. If you open the linked savings account then you do get FSCS<\/a> protection on deposits paid in there and interest paid on that too. <\/p>

Monzo is a bank so has full FSCS protection and is regulated by FCA and Prudential Regulation Authority (PRA).<\/p>

Round 1: Account features<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/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>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Tide and Monzo offer cash deposits, extra cards for employees and the ability to freeze or unfreeze cards in the app. Monzo lets you cash cheques by post and in the app but Tide only allows in-app cheque deposits. Monzo also lets you send money abroad through its partnership with Wise, while Tide allows international payments via SEPA. <\/p>

If you want integrated accounting, Tide is the only one that offers it for free. To get it with Monzo you need to upgrade to the Pro account. <\/p>

Winner:<\/strong> Tide. Both have similar features, but having accounting software integration included is a bonus with a free account.<\/p>

Round 2: Account costs<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/a><\/td><\/tr>
Monthly account charge<\/th>Free<\/td>Free<\/td><\/tr>
Fee for cash deposits<\/th>\u00a32.50 for deposits up to \u00a3500, 0.50% for deposits over \u00a3500 (at Post Offices), 3% (at PayPoints)<\/td>\u00a31 per deposit to pay in cash at any PayPoint or Post Office branch<\/td><\/tr>
Fee for cheque deposits<\/th>Doesn't accept cheques<\/td>Free<\/td><\/tr>
Fee for payments in or out<\/th>20p each<\/td>Free<\/td><\/tr>
Fee for direct debits<\/th>20p each<\/td>Free<\/td><\/tr>
Fee for sending money abroad<\/th>20p each for euro payments via SEPA<\/td>Variable<\/td><\/tr>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Both come with no monthly fees, though you can upgrade to a premium account for more features.<\/p>

Monzo offers more in terms of free stuff, with payments in or out and direct debits not costing you a thing. With Tide you\u2019ll have to pay 20p for each transaction. Depending on your usage you\u2019d need to calculate how expensive that could be for you.<\/p>

It\u2019s also free to deposit a cheque with Monzo, while with Tide it costs 70p plus the 20p transaction fee, so 90p overall.<\/p>

You can deposit cash at any PayPoint or Post Office branch with Monzo for a flat rate of \u00a31. You can only deposit between \u00a35 and \u00a3300 each time, with a limit of \u00a31,000 every 6 months. Tide charges \u00a32.50 for every deposit at the Post Office up to \u00a3500 and 0.5% for anything over that. You can deposit up to \u00a325,000 a month or \u00a3300,000 a year, depending on the branch transaction limits. At a PayPoint Tide charges 3% and you can deposit \u00a310\u2013\u00a3500 a day. <\/p>

Winner:<\/strong> Monzo, but only just. With no transaction or deposit fees, Monzo is a better offering overall than Tide, even though Tide has higher deposit limits. <\/p>

Round 3: Spending in the UK<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/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>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

It won\u2019t cost you anything to spend money in the UK with either account and you can also use contactless payments. The contactless limit for both is the UK standard of \u00a3100. <\/p>

If you want to withdraw cash from an ATM, Tide charges \u00a31 each time, while it\u2019s free with Monzo.<\/p>

Winner:<\/strong> Monzo wins here with its free ATM withdrawals.<\/p>

Round 4: Using the card abroad<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/a><\/td><\/tr>
Free foreign transactions<\/th>No, 1.75% fee on foreign transactions<\/td>Unlimited<\/td><\/tr>
Free foreign ATM withdrawals<\/th>No, \u00a31 each plus 1.75% foreign transaction fee<\/td>Unlimited within EEA. \u00a3200 in any rolling 30-day period outside EEA. 3% fee after.<\/td><\/tr>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

If you\u2019re going abroad or need to do some business spending online from an international seller, Monzo wins here with its unlimited foreign spending.<\/p>

Tide charges \u00a31 for overseas ATM withdrawals, plus 1.75% on top of that, which could make it quite pricey to take money out when you\u2019re travelling.<\/p>

Monzo has free unlimited ATM withdrawals inside the EEA, but outside the EEA you can only take out \u00a3200 every 30 days. After that there\u2019s a flat 3% charge, which is even higher than Tide. <\/p>

Winner:<\/strong> Monzo. Free spending abroad is tough to beat.<\/p>

Round 5: Signing up<\/h3>
\n \n
<\/th>\"Tide<\/a><\/td>\"Monzo<\/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>2-5 working days<\/td><\/tr>
Replacement card fee<\/th>Free<\/td>2 free replacement Monzo cards per account per year for any reason then charged \u00a35<\/td><\/tr>
<\/th>Go to site<\/a><\/td><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

You can apply for both accounts quickly through the app. There\u2019s no credit check for either. <\/p>

Cards are delivered in 2\u20135 working days. Tide offers free replacement cards, whereas Monzo only offers 2 free replacement cards each year, then charges \u00a35 for any other ones after that. That could add up if you\u2019re always losing your wallet.<\/p>

Winner:<\/strong> Tide shades this section on account of it not having a limit on replacement cards.<\/p>

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Tide and Monzo have business account offerings with an ethos on delivering a good product for customers. \u201d<\/p>\n