Information about our Business Current Account Services

The Financial Conduct Authority requires us to publish the following information about our business current accounts.

How and when you can contact us to ask about the following things

	24 Hour Help?	Telephone	Internet Banking	Mobile Banking
Contact details		(0)808 169 9456	Internet Banking	In-app Monzo Bank
Checking the balance and accessing a transaction history	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Sending money within the UK, including setting up a standing order	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Sending money outside the UK	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Paying in a cheque	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Cancelling a cheque	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Cash withdrawal in a foreign currency outside the UK	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
A lack of funds: including unarranged overdraft, payments we allow despite lack of funds and payments we refuse due to lack of funds	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
A direct debit, or allowing someone to collect one or more payments from your account using your debit card number	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Third party access to an account, for example, under power of attorney	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Problems using internet banking or mobile banking	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*
Reporting a suspected fraudulent incident or transaction	Yes	7am - 8pm, Mon - Sun*	Not possible	Yes
Progress following an account suspension or card cancellation e.g. following a fraud incident	Yes	7am - 8pm, Mon - Sun*	Not possible	Yes
Account opening: including eligibility for an arranged overdraft, what is required to open an account and an indication of what arranged overdraft may be available	7am - 8pm, Mon - Sun*	7am - 8pm, Mon - Sun*	Not possible	7am - 8pm, Mon - Sun*

Note: This is a list of common queries. It does not represent the full list of queries you can raise in relation to your account.

*We provide 24/7 service on all of these activities for all urgent queries.

How and when you can use your bank account to do the following things

	Telephone banking	Internet banking	Mobile banking
Checking the balance	Not Possible	24 hours	24 hours
Accessing a transaction history	Not Possible	24 hours	24 hours
Sending money within the UK	Not Possible	24 hours	24 hours
Setting up a standing order	Not Possible	Not Possible	24 hours
Sending money outside the UK	Not Possible	Not Possible	Not Possible
Paying in a cheque	Not Possible	Not Possible	Not Possible
Cancelling a cheque	Not Possible	Not Possible	Not Possible

Note: this is a list of common actions. It does not represent the full list of actions you can take in relation to your account.

Information about operational and security incidents

We are obliged to notify the Financial Conduct Authority if we become aware of a major operational or security incident which prevents our customers from using our payment services.

	In the 3 months between 1st April 2021 and 30th June 2021	In the 12 months between 1st July 2020 and 30th June 2021
Total number of incidents reported	0	4
Incidents affecting telephone banking	Not Applicable	Not Applicable
Incidents affecting mobile banking	0	1
Incidents affecting internet banking	0	1

Complaints data

Financial Conduct Authority rules require us to provide them with a report of our complaints data every six months. In certain circumstances, we are also required to publish a summary of our complaints data.

The most recent summary is available at https://monzo.com/legal/complaints-data/

The Financial Ombudsman Service publishes its complaints data every six months. You can see their complaints data about us at http://www.ombudsman-complaints-data.org.uk/

Opening a business current account with us

How quickly do we open business current accounts?

We give customers an account number and enable them to start paying into the account:

the same day, for 67% of customers
on average, in 3 days; and
within 31 days for 99% of customers

Note: These figures are based on the time taken from receiving all the information and documents we ask for on this page, in a case where we don’t need further information or documents to open the account.

How quickly do we give business customers a debit card?

Once an account is open, we give customers a debit card:

the same day, for 0% of customers
on average, in 2 days; and
within 5 days for 99% of customers

How quickly do business customers get internet banking?

Once an account is open, we give customers internet banking:

the same day, for 100% of customers
on average, in 0 days; and
within 0 days for 99% of customers

Replacing a debit card

How quickly do we replace debit cards that have been lost, stolen or stopped?

We replace debit cards:

the same day, for 0% of customers
on average, in 2 days; and
within 5 days for 99% of customers

Opening an account with us

To open any of our accounts, a new customer will need to provide us with the documents and information set out on this page. We may request additional information or documents in individual cases.

You can open an account:
Without visiting a branch	Yes
Where a visit to a branch is required, without appointment	Not Applicable
By sending us documents and information electronically	Yes
By Post	No