Bench vs Monzo Business: Complete Comparison (2026)
An in-depth comparison of Bench and Monzo Business to help you choose the right tool for your business.
Last updated: November 2026
Bench
5/10
Online bookkeeping and tax service for US small businesses: a dedicated bookkeeper keeps the books in Bench's own software, with optional tax filing.
Monzo Business
6.5/10
Monzo Business is an app-based UK business bank account for sole traders and limited companies. It includes invoicing, Tax Pots, expense cards and accounting software bank feeds.
Feature-by-Feature Comparison
| Feature | | |
|---|---|---|
| Scores | ||
| Overall Rating | 5/10 | 6.5/10 |
| Analytics | 4/10 | 4/10 |
| Compliance | 6/10 | 7/10 |
| Cost | 3/10 | 8/10 |
| Customization | 3/10 | 4/10 |
| Ease of Use | 8/10 | 9/10 |
| Integration | 5/10 | 6/10 |
| Scalability | 3/10 | 3/10 |
| Security | 6/10 | 7/10 |
| Support | 4/10 | 6/10 |
| Pricing | ||
| Free plan | No | Yes |
| Cheapest paid plan | $199/mo Bookkeeping Light | £9/mo Pro |
| Estimated cost for 10 users | $199/mo Bookkeeping Light | £25/mo Team |
| Features | ||
| Financial Reporting | ||
| Invoicing | ||
| Accountant Access | ||
| Accounts Payable | Not listed | |
| Bank Reconciliation | Not listed | |
| Corporate Cards | Not listed | |
| Expense Management | Not listed | |
| General Ledger | Not listed | |
| Multi-currency | Not listed | |
| Online Payments | Not listed | |
| Payroll | ||
| Tax Compliance | Not listed | |
Bench vs Monzo Business cost by team size
| Team size | Bench | Monzo Business |
|---|---|---|
| 1 user | $199/moBookkeeping Light | £9/moPro |
| 5 users | $199/moBookkeeping Light | £25/moTeam |
| 10 users | $199/moBookkeeping Light | £25/moTeam |
| 25 users | $199/moBookkeeping Light | FreeLite |
| 50 users | $199/moBookkeeping Light | FreeLite |
The plan that fits each team size, billed monthly, before add-ons and usage charges. Each cost opens that tool's pricing calculator for the team size.
Which One Should You Choose?
Why choose Bench
- Includes Financial Reporting, which Monzo Business lacks
Why choose Monzo Business
- Has a free plan (Bench does not)
- Higher Cost score (8/10 vs 3/10)
- Higher Support score (6/10 vs 4/10)
- Better fit for freelancers (9/10 vs 6/10)
- Includes Invoicing, which Bench lacks
Pros & Cons
Bench
Pros
- A dedicated human bookkeeper does the monthly categorizing and reconciliation, so owners don't need to learn accounting software.
- Flat monthly pricing, with about 20 percent off for annual billing, makes costs predictable.
- The bundled plan adds business tax filing and up to four advisory calls a year from licensed professionals.
- Bench is SOC 2 compliant, and Plaid bank connections are read-only.
- Owners and reviewers describe the dashboard as simpler than QuickBooks for non-accountants.
Cons
- Bench shut down abruptly in December 2024 before Employer.com bought it, and some customers still question its continuity.
- Reviews since the acquisition report slower responses, bookkeeper turnover and late monthly closes.
- It does not handle payroll, invoicing or bill pay.
- Books are kept on a modified cash basis in proprietary software, which makes moving to QuickBooks or Xero harder.
- It is expensive compared with DIY accounting software, and there is no free trial.
Monzo Business
Pros
- The Lite plan is free and includes Making Tax Digital software
- Pro adds invoicing, Tax Pots and live feeds to Xero, QuickBooks, FreeAgent and Sage for £9 a month
- The Team plan adds expense cards, payment approvals and bulk payments for up to 15 users
- 24/7 in-app support on every plan
- Licensed UK bank with FSCS deposit protection
Cons
- Holds GBP only, and incoming foreign currency is converted at a 1% fee
- No general ledger or financial statements, so you still need separate accounting software
- Partnerships, LLPs, charities and non-UK businesses cannot open an account
- Cash deposits cost £1 each and are capped
- Reviews report frozen accounts and slow resolution, and there is no dedicated account manager
Not sold on either?
Frequently Asked Questions
Monzo Business scores higher on our Finance Software criteria: 6.5/10 against 5/10 for Bench. The largest gap is in Cost: 3/10 for Bench and 8/10 for Monzo Business.
Monzo Business has a free plan; Bench does not list one.
Monzo Business is the better fit for freelancers: we rate it 9/10 for them, against 6/10 for Bench.
Bench has Financial Reporting, which Monzo Business lacks. Monzo Business has Invoicing, which Bench lacks.
