Monzo launches new premium plan as business customers surpass 500,000

Editorial

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Dubbed Group, the brand new plan prices £25 a month and can supply expense playing cards to as much as 15 workers, bulk funds for approving a number of payouts in a single go, and cost approals over set limits.

Group contains all of the options from the Lite and Professional plans together with automated tax funds, accounting integrations with Xero, Quickbooks and FreeAgent, the flexibility to ship invoices in a few clicks within the app to receives a commission, immediate notifications, and 24 hour buyer help.

Current enterprise clients can improve their present subscription to Group of their Monzo app. New enterprise clients can apply for Group on the Monzo web site or by downloading the Monzo app.

TS Anil, CEO of Monzo, says: “The 5.5 million SMEs within the UK are the spine of the financial system, but they’ve been historically missed by banks. Enterprise house owners want game-changing merchandise that take away pointless paperwork and permit them to get on with the essential activity of rising their enterprise. As we scale past 500,000 enterprise clients we’re nonetheless as focussed on staying near our enterprise neighborhood as we’ve at all times been and constructing options that do the heavy lifting as they give attention to what actually issues to them. Group is the subsequent step on this journey, with loads extra to come back.”