By The Independent

Copyright independent

Managing a team brings its own unique challenges. Beyond deadlines and deliverables, managing expenses and budgets across several people often turns into a juggling act. Think: endless spreadsheets, waiting on approvals, and the many (many) receipts to contend with.

Keeping business spending organised and transparent is easier said than done, especially when time is tight and priorities are shifting between co-workers. In fact, small teams often rely on informal systems – a mix of shared accounts, scattered spreadsheets or just head maths – which can quickly get messy. When everyone can see where money is going and make payments without waiting days for sign-off, the whole process becomes smoother and less of a burden.

Monzo Business addresses this behind-the-scenes hassle, offering a fresh approach to managing team finances. Its Team plan is designed specifically for bigger teams, aiming to simplify the daily juggle of spending, payments and access, and free up businesses to focus on what really matters.

Managing spending across a team can quickly become confusing. Monzo Business Team offers individual expense cards for selected members to make purchases within set limits. You can tailor spending rules to different roles – whether that’s a daily cap for junior staff or higher limits for senior team members – and monitor transactions in real time. Need to pause a card? Freeze your card in a few taps, no fuss or delays. This helps keep budgets on track without the hassle of receipt stacks or chasing reimbursements later. It’s an easy way to let teams work efficiently, while still having clear visibility whenever you need it.

Handling invoices one by one is a productivity drain. Small business owners often find themselves stuck manually entering payment details or waiting on approvals – time that could be better spent elsewhere. With Monzo Business Team, this process is transformed. You can make bulk payments, whether that’s settling supplier invoices, paying contractors or handling routine expenses like rent and utilities.

This not only reduces tedious manual work but also minimises cash flow hold ups. Plus, everything is designed to be straightforward and secure, giving you peace of mind. This way, you spend less time navigating admin headaches and more time running your business.

Monzo Business Team is designed for (bigger) small businesses with lots of moving parts, so both the pricing and setup are clear to save you another headache.

Plans start from £25 a month. That covers up to six team members, each with their own login and flexible access controls, so you can decide who can view balances, make payments or approve spending. Need to scale up? Add more users for £5 each, up to a team of 15.

Expense cards, bulk payments, and multi-user access all come included, along with built-in integrations with tools like Xero, QuickBooks, FreeAgent and Sage. With everything in one place, you’ll cut down time spent reconciling transactions, chasing receipts and double-checking who paid for what.

Everything is designed to reduce your workload, not add to it. So you can quit eyeballing spreadsheets (some, at least) and channel your energy into what really matters.

Ready to see how Monzo Business Team can work for you? Apply in minutes today.

Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.