OCTIS vs Tide vs Starling vs Monzo Business: UK business accounts compared
All three have a free tier. The differences are cash handling, paid add-ons and who is allowed to apply.
Last checked · 5 sources
Otty's short answer
Starling is the pick for a UK limited company that wants no monthly fee and euro or dollar payments. Monzo suits sole traders and small companies that want free UK transfers and accounting feeds from £9 per month. Tide suits teams who want paid tiers with FX-free card spend. All three expect UK-resident directors, which matters for founders in Hong Kong or Malaysia.
Side by side
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| What matters | OCTISHong Kong company + OCTIS global plan | Tide | Starling Bank | Monzo Business |
|---|---|---|---|---|
| Free plan | Set by our licensed partner; quoted before you commit | Yes, Lite £0 | Yes, no monthly fee | Yes, Lite £0 |
| Paid plans per month | 10–30% below your current bill | £12.49 / £27.49 / £69.99 | None | £9 Pro, from £25 Team |
| Free transfers | Collecting and sending payments via licensed partners | 5 on Lite, unlimited on Pro | No fee on UK payments | Free UK in and out |
| Cash deposits | Set by our licensed partner; quoted before you commit | Offered, fee not read | 0.7%, minimum £3 | £1 each, monthly cap |
| Foreign card spend | Corporate card via licensed partners | 2.75% Lite, 0% paid | No Starling fee | Not published |
| Euro / USD account | International multi-currency business account via licensed partners | Not listed | Euro payments to 34 countries | GBP only, 1% to convert |
| Accounting links | Bookkeeping by OCTIS; CRM built in | Xero from Smart | Not published | Xero, QuickBooks on Pro |
| Eligible entities | Hong Kong company | Sole traders, Ltd | Ltd and LLP only | Sole traders, Ltd |
| UK-resident directors | Director and shareholder can live anywhere | UK address and phone | Required for all PSCs | Not published |
| FSCS cover | Not an OCTIS product | £120,000 via ClearBank | FSCS protected | FSCS to £120,000 |
| Overdraft | Not an OCTIS product | Not published | Not accepting, per review | Up to £5,000 Ltd |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you need a multi-currency account for a company with directors outside the UK, plus accounts and CRM in one place.
Tide
Choose Tide if you want paid tiers with 0% FX on cards, extra accounts and invoicing in one app.
Starling Bank
Choose Starling if you run a UK limited company or LLP and want no monthly fee and euro payments.
Monzo Business
Choose Monzo Business if you want free UK transfers, tax pots and accounting feeds on a low-cost Pro plan.
What the table does not show
Residency rules decide this one
Starling requires the business to be a UK limited company or LLP, with all persons of significant control as UK-resident individuals and every director with access resident in the UK. Tide asks for a UK residential address, a UK phone number and a UK-registered company or sole trader. A Hong Kong or Malaysia-based owner of a UK company will often fail those tests. In that case look at Wise, Airwallex or an agent's banking referral instead.
Fees that change the cost
Tide's free Lite plan allows 5 bank transfers a month and charges 2.75% on international card payments. Smart is £12.49, Pro £27.49 and Max £69.99 per month. Starling charges 0.7% (minimum £3) on Post Office cash deposits and nothing for monthly service. Monzo's Pro plan is £9 per month on recent reviews, and its cash deposits cost £1 each with a monthly cap that a review puts at £10,000 for limited companies.
International payments
None of the three is built for heavy cross-border work. Starling can send euro payments to 34 countries. Monzo is essentially GBP-only and charges 1% on foreign currency receipts, capped at £1,000 per transaction. Tide waives FX fees on card payments from its paid plans. If you sell to Asia, pair any of them with a multi-currency account.
Where OCTIS fits
OCTIS does not provide UK banking or UK company formation. If you run a Hong Kong or Malaysian company that sells in the UK, the bank is one part of the picture. Your books still need every account reconciled, and OCTIS bookkeeping can handle statements from the accounts you use. Moving your accounting, company secretary and tax work to OCTIS can take 10–30% off your current bill.
Frequently asked questions
Which UK business account has no monthly fee?
All three have a free tier. Starling charges no monthly fee. Tide's Lite plan is free. Monzo's Lite plan is free. Paid tiers add features such as accounting feeds, extra cards or lower foreign card fees.
Can I open a Starling business account if I live in Hong Kong?
Probably not. Starling requires all directors with account access and all persons of significant control to be UK residents, and reviews every business case by case. Approval is never guaranteed.
Are Tide, Starling and Monzo covered by the FSCS?
Eligible deposits are protected up to £120,000 per depositor. Tide accounts are provided by ClearBank, and the FSCS limit applies across all your ClearBank accounts. Starling and Monzo show FSCS protection on their sites.
Which is best for cash deposits?
Monzo charges £1 per deposit at PayPoint or Post Office, with a monthly cap. Starling charges 0.7% with a £3 minimum at the Post Office. Large cash users should compare the fee on their usual deposit size.
Sources
Checked on the date above. Links open the provider's or regulator's own page.