The bank already offers a personal current account

European mobile-only bank plans to launch business current account. Source: unsplash.com

As Jordan Shwide, Operations Analyst at Monzo, said in a blog post, the mobile-only bank have started exploring how to offer a current account for businesses, so that entrepreneurs, sole traders, freelancers and small business owners could conveniently access a business bank account.

There are more than five million small and medium-sized enterprises in the UK, and almost nine million people either run their own small business or work for one. Therefore, Monzo sees it as a big opportunity to bring its services to even more people and help them manage their money better.

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