Monzo Business vs Tellow: Complete Comparison (2026)

Why choose Monzo Business

• Higher Integration score (6/10 vs 4/10)
• Higher Security score (7/10 vs 5/10)
• Better fit for small business (8/10 vs 6/10)

Why choose Tellow

• Higher Support score (7/10 vs 6/10)
• Includes Financial Reporting, which Monzo Business lacks

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

Tellow

Pros

• The Plus plan files the VAT return to the Belastingdienst automatically, which saves Dutch freelancers manual tax work.
• The free plan includes a business IBAN and debit card, so very small sole traders can start without paying.
• Trustpilot reviewers (4.3 out of 5 from 156 reviews) often praise fast support, including in English for expats.
• The Compleet plan has accountants prepare and check both the business and private tax returns for a fixed monthly fee.

Cons

• Reviewers report there is no multi-currency or dual-currency bookkeeping.
• Payments from outside the SEPA area were reported as not processed.
• Some users find the mobile app slow to load.
• The free plan is tightly capped at 3 invoices and 20 receipts a month.
• It has no payroll, inventory or multi-entity support, and it is Netherlands-only.