Monzo to launch business current account

0
219
Monzo to launch business current account

Monzo to launch business current account in the next year or two

  • Monzo Bank Ltd, is a digital, mobile-only bank based in the United Kingdom
  • The bank will apply for some funding and if “successful” that money will give it the resources needed to make business banking a priority
  • This funding comes from the £700 million pot of money called the Alternative Remedies Package
  • Banks and fintechs can apply for some of the money, and use it to build or expand their own products for SMEs
  • Monzo users can pay cash into their account at any store that shows the PayPoint logo
  • People often use PayPoint to pay for their utilities, like TV licences or electricity bills