Monzo Business Lite vs Pro vs Team: which plan do you need?

The short answer

Start on Lite unless you already know you need Tax Pots, invoicing or accounting sync; then choose Pro. Choose Team when people other than you need to spend the business’s money.

• Lite suits a new sole trader or a small company that mostly receives transfers and pays bills. It is a real account, not a trial.
• Pro suits a business that invoices clients, wants tax set aside automatically, or keeps books in Xero, FreeAgent, Sage or QuickBooks.
• Team suits a limited company with employees or regular contractors who need cards, limits and approvals, or which values what Team adds on savings.

Prices and team allowances

Lite costs nothing, Pro costs £108 a year, and Team starts at £300 a year before extra members.

For a limited company at the maximum team size, Team costs £70 a month: the base price plus 9 extra members. Expense cards beyond the standard allowance carry an additional charge, so check the app if you need more than 5.

Monzo notes that plan benefits are confirmed in the app at sign-up. Prices are monthly and there is no annual commitment. Running costs beyond the plan fee (cash deposits, card acceptance, international payments) are covered in the Monzo Business fees guide, and the cost calculator adds them up for your business.

Full feature comparison

Each plan includes everything on the plan below it. Where a cell is blank, Monzo does not publish that figure for the plan.

The Xero offer is for new Xero customers: 6 months' free Xero with Pro, 8 months with Team (new Xero customers, until 31 May 2027). The MTD software is free Making Tax Digital for Income Tax software, built on Sage; it is not for limited companies. For what each feature does in practice, see our Monzo Business features guide.

Lite: who it suits

Lite suits businesses whose banking is simple: money comes in, bills go out. You get the core account, payments, card acceptance, savings pots and 24/7 support. That is enough for a lot of sole traders, side businesses and new companies.

Lite is probably enough if:

• You invoice from accounting software you already pay for, or rarely invoice at all.
• You are happy to move tax money into an ordinary pot by hand rather than automatically.
• Your accountant is happy with downloaded statements rather than a live feed.
• You are the only person who uses the account.

The main thing you give up is automation. Lite has pots, so you can still keep tax money separate; you just have to remember to move it. If you have ever reached January without enough set aside, that is the argument for Pro. For freelancers just starting out, our sole trader account guide compares Lite with other free accounts.

Pro: who it suits

Pro suits a business that wants its admin to run itself. For £9 a month you add Tax Pots, invoicing, accounting integrations, virtual cards, connected accounts and custom categories.

Pro is worth considering if:

• You invoice clients and do not want to pay for a separate invoicing tool.
• You want Tax Pots: a percentage of every incoming payment, moved automatically, up to 3 Tax Pots.
• You use Xero, FreeAgent, Sage or QuickBooks and want transactions to arrive automatically.
• You want virtual cards to separate subscriptions and online suppliers.
• You are about to start with Xero and can use the partner offer.

Whether £108 a year pays for itself depends on what it replaces. We work through the numbers on is Monzo Business Pro worth it?

Team: who it suits

Team suits a limited company where several people spend or approve, or where the savings difference matters. It adds expense cards, payment approvals, bulk payments and a bigger team, with first 6 team members included and room for up to 15 people.

Team makes sense if:

• Staff or regular contractors buy things for the business and you want cards with limits instead of expense claims.
• You want payments above a certain size approved by an admin.
• You pay many people at once and want up to 200 payments at once from a CSV.
• You keep a meaningful balance in savings pots and the rate shown for Team in the app is higher than on Pro.

On savings: Monzo’s savings page advertises up to 3.25% AER (variable) and its features page 1.30% AER (variable). It does not publish the rate per plan, so check the app before choosing a plan for interest.

What does not change between plans

The plan fee changes what tools you get, not what everyday banking costs. These are the same on Lite, Pro and Team:

• UK transfers are free, and there is no fee on card spending abroad.
• Cash deposits cost £1 per deposit, with the same monthly limits.
• Card acceptance is priced by Stripe: £0.20 + 1.4% for UK and European cards in person, £0.20 + 1.5% for standard UK cards on invoices and payment links online.
• International transfers follow the same tariff, which changes on 1 November 2026.
• FSCS protection and 24/7 support apply on every plan.

So if your main costs are cash handling or card acceptance, upgrading will not reduce them. The case for Pro or Team rests on the features, and on savings if the rate the app shows for your plan is higher.

Which plan for which business

The right plan follows from how your business runs, not its size. Some typical cases:

• A sole trader starting out. Lite. Use an ordinary pot for tax until you are sure of your income, then consider Pro for automatic Tax Pots.
• A freelancer who invoices several clients a month. Pro, if Monzo’s invoicing covers what you need and you do not already pay for an invoicing tool.
• A one-person limited company or contractor. Pro. VAT and Corporation Tax pots plus an accounting feed remove most of the year-end scramble.
• A small company with employees who buy things. Team, for expense cards and approvals.
• A small company with a healthy cash balance. Compare the savings rate the app shows on Pro and on Team; the difference may cover Team’s extra cost.
• A cash-heavy shop or trade. Any plan works the same for cash, so the plan matters less than whether Monzo suits you at all.

Mistakes to avoid when choosing a plan

• Paying for Pro “just in case”. If you never set up Tax Pots, invoicing or the accounting feed, Pro costs £108 a year for an account that behaves exactly like Lite. Set the features up in the free month or step back down.
• Choosing Team for a team that does not spend. Team’s headline features are for people who buy things on the company’s behalf. If only the directors spend, Pro’s virtual cards may be enough, unless the savings rate on Team changes the sum.
• Assuming the savings rate. Monzo’s two published figures differ and it does not publish rates per plan. Look at the app before treating interest as part of the decision.
• Forgetting what depends on the plan. Direct Debits paid from a Tax Pot, subscriptions on virtual cards and staff expense cards all stop working as expected after a downgrade. Move them first.
• Choosing a plan to fix a cash or borrowing problem. Cash deposit costs and limits are the same on every plan, and none of the plans is a lending product. If cash or borrowing are your priorities, our Monzo Business review explains where Monzo falls short.

How to switch plans

You change plan in the app, and there is no minimum term; downgrades refunded pro rata. That makes the decision low-stakes: try Pro for a month (the first month free applies to new Pro customers), then stay, step up to Team or step back to Lite.

1. In the Monzo app, find the plan section of your business account.
2. Choose the plan you want and confirm. Monzo confirms the exact benefits in the app before you commit.
3. If you are moving down, deal with the features you will lose first: empty Tax Pots into ordinary pots, export invoices you need, and cancel virtual or expense cards that staff rely on.

Still unsure? Use the plan picker

Our Monzo Business plan picker asks a few questions about your business and suggests a plan. It is a starting point, not advice: the final check is what the app shows when you choose a plan.

The bonus works on any plan

The referral reward applies to any Monzo Business plan, including free Lite. If you are new to Monzo and open through a referral link, you get £50. It is only paid if you have never opened a Monzo account before, including a personal account, and you download the app, apply, add money and make a first card payment within 30 days. See the referral page for the details.