Soldato
Seems to be the way the fintechs are going, charging for every detail.
Monzo/Starling Banking/Revolut
- Thread starter Junglist
- Start date
Caporegime
Additional accounts sound goood. This will allow for a bills account.
Caporegime
Yep pretty much, I was in Istanbul a couple of weeks ago and used my revolut rather than my curve. Loaded up about £1k which at the rate it converted, think it was close to 9.7 Turkish lira. Also took some money out via the atm. But do be careful, majority of the atms there charge a few for withdrawing money from their atm. Only found 2 atms that wouldn’t charge me a fee.
And on the weekends as @englishpremier they charge 0.5%
Soldato
Some of the banks get up to it too. Like forcing you to have one of those crappy card readers then charging £4 or something if you ever need a new one. Haven't even seen my card readers for years. I don't think I'll ever use one again. Almost as stupid as 2 factor ID that Santander insist on now. Completely useless when you are places where you can't get a decent mobile signal.
Soldato
Think with the card readers most work with other bank's cards too.
I can see Starling limiting free cash withdrawals, like Monzo, and probably charge for desktop banking access too.
Soldato
I don't see it. Still you get unlimited foreign ATM withdrawals from Starling. I can't see them imposing restrictions on UK based withdrawals. Normally it's Monzo that follow Starling rather than the other way around. Business accounts was a prime example of that.
That being said, there do seem to be some people crying out for Monzo-style pots, so that might be an area worth copying Monzo in. I don't care for it, i use different account for different things.
I noticed the £2 a month for a Children's space was a sneaky charge. Just give them a children's account FFS.
That being said, there do seem to be some people crying out for Monzo-style pots, so that might be an area worth copying Monzo in. I don't care for it, i use different account for different things.
I noticed the £2 a month for a Children's space was a sneaky charge. Just give them a children's account FFS.
Starling has pots, they call it spaces and you can also auto top up. It's fantastic.
Soldato
But crucial feature is missing, paying direct debits out of pots ... it’s a superb feature on Monzo.
Oh I wasn't aware of that! Sounds good, if I ever swap to Monzo I'll have to use that, thanks.
After the Monzo not being able to withdraw more than £250 a month without getting charged a fee I am seriously considering moving to Starling. Any downsides? Not bothered about card replacement fee - can't really see myself losing my card twice within a year. I mostly use it as a spending account (transfer fixed amount to Monzo, use it to spend and accumulate anything I didn't) and I know Starling will probably be better for me when it returns to pre-covid times when I'm working on NYC for a period every month too.
How is Starling with having both a personal and a joint account with them? Looking to open a joint account for the first time so this would be it I guess. Would the "An additional GBP account (available on Personal and Joint Accounts) will be charged at £2 per account per month" thing they just announced count towards that? Eg. if I have a personal account they will charge £2 a month for a joint account? Or is it if I have 2 personal accounts with them or something?
How is Starling with having both a personal and a joint account with them? Looking to open a joint account for the first time so this would be it I guess. Would the "An additional GBP account (available on Personal and Joint Accounts) will be charged at £2 per account per month" thing they just announced count towards that? Eg. if I have a personal account they will charge £2 a month for a joint account? Or is it if I have 2 personal accounts with them or something?
Caporegime
You can have a personal and a joint with a fee.
Associate
Myself and the wife have a personal each and a book account, no extra charges, not sure if this will affect us or not.
Soldato
Is Monzo your main personal account?
So these fad banks that are trying to disrupt the banking market are doing the very opposite ?
The mind boggles, but then i am not 25 amd needy with the uncanny ability to be responsible for my own actions and actaully run budget without pots of whatever the fad is.
The mind boggles, but then i am not 25 amd needy with the uncanny ability to be responsible for my own actions and actaully run budget without pots of whatever the fad is.
Permabanned
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No they not, they saying they can be a better banking service. My local banks closed and the cloest one is a few miles away. Why would I be with a bank that closes it's local?
Their apps are miles better.
A rather pointless argument, First direct doesn't have a branch either and the app is no different to starling apart from its not designed for a 21 year old. I can see all my accounts transfer money between any of them and anyone for that matter with ease.
They also dont seem to offer mortages, savings, ISA`s etc oh and a decent desktop app where i can download statements direct.
Maybe in the future they will on a level playing field but at the moment their only use is foreign currency withdrawals and safety fence to load a card to keep away from your main account, for those odd online places that do not take a credit card.