Monzo Business vs Pennylane Comparison
Compare Monzo Business vs Pennylane features, pricing, and more.
Last updated: November 2026
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.
Pennylane
6.4/10
French accounting, invoicing, cash management and business account platform for freelancers, small businesses, SMEs and the accounting firms that serve them.
Feature-by-Feature Comparison
| Feature | | |
|---|---|---|
| Scores | ||
| Overall Rating | 6.5/10 | 6.4/10 |
| Analytics | 4/10 | 6/10 |
| Compliance | 7/10 | 8/10 |
| Cost | 8/10 | 5/10 |
| Customization | 4/10 | 5/10 |
| Ease of Use | 9/10 | 8/10 |
| Integration | 6/10 | 7/10 |
| Scalability | 3/10 | 6/10 |
| Security | 7/10 | 6/10 |
| Support | 6/10 | 5/10 |
| Pricing | ||
| Free plan | Yes | No |
| Cheapest paid plan | £9/mo Pro | €7/mo Starter (freelancer) |
| Estimated cost for 10 users | £25/mo Team | Contact for pricing |
| Features | ||
| Financial Reporting | ||
| General Ledger | ||
| Accountant Access | ||
| Corporate Cards | ||
| Expense Management | ||
| Invoicing | ||
| Online Payments | ||
| Tax Compliance | ||
| Accounts Payable | Not listed | |
| Bank Reconciliation | Not listed | |
| Budgeting and Forecasting | Not listed | |
| Multi-currency | Not listed | |
| Payroll | ||
Monzo Business vs Pennylane cost by team size
| Team size | Monzo Business | Pennylane |
|---|---|---|
| 1 user | £9/moPro | €7/moStarter (freelancer) |
| 5 users | £25/moTeam | Contact for pricing |
| 10 users | £25/moTeam | Contact for pricing |
| 25 users | FreeLite | Contact for pricing |
| 50 users | FreeLite | Contact for pricing |
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 Monzo Business
- Has a free plan (Pennylane does not)
- Higher Cost score (8/10 vs 5/10)
- Higher Ease of Use score (9/10 vs 8/10)
Why choose Pennylane
- Higher Scalability score (6/10 vs 3/10)
- Higher Analytics score (6/10 vs 4/10)
- Better fit for enterprise (3/10 vs 1/10)
- Includes Financial Reporting, which Monzo Business lacks
- Includes General Ledger, which Monzo Business lacks
Pros & Cons
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
Pennylane
Pros
- Accountants and clients work in the same shared space, which reviewers call its main strength.
- Bank transactions are categorised and reconciled automatically, based on past categorisations.
- A business account with an IBAN and employee cards is included even on the entry plan.
- It is approved for French e-invoicing, and Premium adds electronic filing of VAT and tax returns.
- A 15-day free trial and cancel-anytime billing mean there is no long-term commitment.
Cons
- Reviewers consider it fairly expensive, and there is no free plan.
- Full accounting reports and tax filing are limited to Premium.
- No payroll or CRM of its own; it relies on Payfit, Silae and CRM integrations.
- Users report slow support on complex issues, occasional bugs, and a multi-currency feature that still needs work.
- Pricing for companies with employees is quote-based on the vendor site.
Not sold on either?
Frequently Asked Questions
Monzo Business scores higher on our Finance Software criteria: 6.5/10 against 6.4/10 for Pennylane. The largest gap is in Cost: 8/10 for Monzo Business and 5/10 for Pennylane.
Monzo Business has a free plan; Pennylane does not list one.
Pennylane is the better fit for enterprise: we rate it 3/10 for them, against 1/10 for Monzo Business.
Pennylane has Financial Reporting and General Ledger, which Monzo Business lacks.
