Finom vs Monzo Business: Complete Comparison (2026)
An in-depth comparison of Finom and Monzo Business to help you choose the right tool for your business.
Last updated: November 2026
Finom
6.2/10
Finom is a European online business account that combines payment cards, invoicing, multi-bank cash overview and accounting tools for freelancers and SMEs.
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 | 6.2/10 | 6.5/10 |
| Scalability | 5/10 | 3/10 |
| Analytics | 4/10 | 4/10 |
| Compliance | 6/10 | 7/10 |
| Integration | 6/10 | 6/10 |
| Security | 7/10 | 7/10 |
| Support | 6/10 | 6/10 |
| Cost | 7/10 | 8/10 |
| Customization | 4/10 | 4/10 |
| Ease of Use | 8/10 | 9/10 |
| Pricing | ||
| Free plan | Yes | Yes |
| Cheapest paid plan | €21/mo Basic | £9/mo Pro |
| Estimated cost for 10 users | €21/mo Basic | £25/mo Team |
| Features | ||
| Accountant Access | ||
| Corporate Cards | ||
| Expense Management | ||
| Invoicing | ||
| Online Payments | ||
| Bank Reconciliation | Not listed | |
| Financial Reporting | Not listed | |
| General Ledger | Not listed | |
| Multi-currency | Not listed | |
| Payroll | Not listed | |
| Tax Compliance | Not listed | |
Finom vs Monzo Business cost by team size
| Team size | Finom | Monzo Business |
|---|---|---|
| 1 user | FreeSolo | £9/moPro |
| 5 users | €21/moBasic | £25/moTeam |
| 10 users | €21/moBasic | £25/moTeam |
| 25 users | €21/moBasic | FreeLite |
| 50 users | €21/moBasic | 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 Finom
- Higher Scalability score (5/10 vs 3/10)
Why choose Monzo Business
- Higher Compliance score (7/10 vs 6/10)
- Higher Cost score (8/10 vs 7/10)
Pros & Cons
Finom
Pros
- A free Solo plan includes a business account, cards and invoicing, so sole traders pay nothing to start.
- Invoices can carry one-click payment links and send automatic overdue reminders, which speeds up collection.
- Employee cards can be issued, limited and topped up in the app, and staff capture receipts by photo.
- Card spend earns cashback of up to 3%, and savings interest rises with the plan tier.
- Connects to accounting tools including Sage, Odoo and NetSuite, and supports multi-bank connections.
Cons
- There are no SWIFT payments, so international transfers outside SEPA need another account.
- Users report sudden account freezes in 2026, with funds held and little explanation from Finom.
- It is not a full accounting ledger, so most businesses still need separate bookkeeping software.
- Fees for transaction volume, foreign exchange and ATM use can add up on the lower tiers.
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 6.2/10 for Finom. The largest gap is in Scalability: 5/10 for Finom and 3/10 for Monzo Business.
Yes, both Finom and Monzo Business have a free plan.
