Revolut vs Monzo: Which Is Better for Businesses in 2025?

The right business account helps you manage finances smoothly, cut costs, and make global transactions easier. Revolut and Monzo both offer digital-first banking for UK businesses, but which one aligns better with your needs in 2025?

This article builds on our in-depth reviews of Revolut and Monzo. We will provide a side-by-side comparison of their features, fees, and customer support to help you pick the right bank for your business goals.

Revolut is better for businesses with international operations. It offers multi-currency accounts that let you hold and make money transfers in 30+ currencies, send up to 1,000 payments in one go, and streamline operations with APIs. However, it doesn’t support cash deposits and business loans, so it may not work well for businesses that need physical banking services.*

Monzo is a good choice for businesses primarily operating in the UK. It offers cash and cheque deposits, free UK bank transfers, and business loans up to GBP 50,000. Monzo’s business current account is also protected by the FSCS scheme, covering deposits up to GBP 85,000. However, it only supports GBP and lacks automation tools and FX risk management, making it less ideal for global transactions.*

Revolut’s multi-currency accounts and automation tools make it the stronger option for businesses operating across borders. However, if your business is UK-based and you need cash deposits, overdrafts, or loans, Monzo is the better fit.

Ask yourself: Do you need a business account optimised for international transactions or one focused on UK banking services?

Revolut and Monzo both offer free account opening and competitive fees compared to high-street banks, but their pricing structure differs. Revolut uses a tiered model, providing a set number of free local and international transfers (SWIFT) plus FX allowances per plan.

After the limit, local transfers cost GBP 0.2, and international transfers cost GBP 5 for unsupported currencies. Monzo keeps it simple, providing free UK bank transfers on all plans and charging 0.33% for outgoing international payments.

For incoming international transfers, Revolut allows free transfers in GBP, EUR, USD, and CHF but charges GBP 5 for other currencies. Monzo charges a 1% conversion fee for non-GBP inbound transfers, so payees should convert to GBP before sending to avoid extra costs.

For foreign currency exchange, Revolut charges 0.6% beyond the free allowance and 1% for off-hours conversions using the interbank rate. Monzo applies a flat 1% FX fee, which may be more expensive for frequent conversions.* *

If your business frequently deals with international payments, Revolut’s FX allowances and tiered pricing can help manage costs. On the other hand, if you primarily send and receive GBP payments, Monzo’s free UK transfers will likely save you more in the long run.

Key takeaway: Choose Revolut for controlled international transaction costs, or Monzo for a simple, fee-free UK banking experience.

Revolut and Monzo both offer physical and virtual debit cards. You can also track expenses, and freeze or unfreeze cards from the mobile apps but their features and fees cater to different business needs.

Revolut’s corporate cards are multi-currency cards, making them ideal for businesses that operate internationally. It also offers a higher payment limit (GBP 5,000,000 per month) and a higher ATM withdrawal limit (GBP 3,000 per day). However, its 2% ATM withdrawal fee applies to all transactions, making it less cost-effective for businesses that rely on cash withdrawals.*

Monzo, on the other hand, is designed for UK-based businesses and operates in GBP only. It offers fee-free ATM withdrawals in the UK and EEA, with a GBP 10,000 daily payment limit. For businesses travelling outside the EEA, Monzo allows GBP 200 in free ATM withdrawals, after which a 3% fee applies.*

Revolut’s multi-currency cards and higher spending limits are better suited for businesses managing global expenses. If your business primarily operates in the UK, Monzo’s GBP-only cards with free local ATM withdrawals may be all you need.

Final thought: International spending? Revolut. UK-based spending? Monzo.

Revolut offers multilingual support with a help centre in 30+ languages and in-app chat in 100+ languages.** However, it does not provide phone support for business accounts, which may be a drawback for those who prefer speaking to an agent. Its 24/7 in-app chat ensures round-the-clock availability for all users.

Monzo, on the other hand, offers multiple support options, including FAQ page, email, in-app chat, and phone support.** It has a free UK contact number (0800 802 1281) and an international number (+44 20 3872 0620), giving businesses an additional way to reach support. Users can get help with urgent issues (e.g., suspected fraud or a stolen card) through the 24/7 in-app chat, but non-urgent calls and chats are available only from 7 AM to 8 PM.

Monzo offers phone support and structured availability, making it more reliable for businesses that prefer direct contact. Revolut’s 24/7 multilingual chat is useful for those who need support outside standard UK hours but lack phone options.

Decision point: If you value phone support, go with Monzo. If you need round-the-clock assistance across different time zones, Revolut is the better choice.

If your business operates in or is expanding to Asia, Statrys is a reliable alternative to Monzo and Revolut in this region.

Launched in 2019, Statrys is a licensed payment service provider in Hong Kong, offering business accounts tailored to businesses registered in Hong Kong, Singapore and the British Virgin Islands. Businesses can hold funds in up to 11 major currencies and make local payments in 12 currencies, including USD, AUD, GBP, EUR, and SGD.

Statrys provides forward contracts with competitive rates based on real-time mid-market rates to help you save costs and manage currency risks.

Every Statrys business account comes with a dedicated account manager who ensures personalised support when your issues arise.

Below is a summary of Statrys’ services.