Monzo/Starling Banking/Revolut

I recently signed up for a Algbra account though they don't have a banking licence yet. They seem to use the same backend/app as Revolut (Modulr FS).

Starling still my main account.
 
I’ve started to notice more and more places aren’t accepting chase or monza.

I’m in a local cafe and they have sign at the till saying they don’t accept them.

Anyone else finding the same?
 
Reuben klang said:
I’ve started to notice more and more places aren’t accepting chase or monza.

I’m in a local cafe and they have sign at the till saying they don’t accept them.

Anyone else finding the same?
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Maybe because the ones you have been in there might have been increased fraud or something like that so they won't accept.

I haven't seen this anywhere local to me.
 
My Chase account is my main and I haven't seen anywhere state they reject it. I don't understand how they could or why they would. Wouldn't they have to refuse MasterCard rather than Chase?
 
Vanquish-Storm said:
How is that even a thing?
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I can't imagine it would make a difference, they're both either MasterCard or Visa. As Gary says maybe they have had some incidents with customers of those banks. Alternatively, maybe those banks are more aggressive in raising chargebacks / fraud claims on those businesses.
 
I'm not sure that's even technically possible to block certain banks - just card types like visa/mastercard etc ! Most things I pay for on my phone and they've got no idea which bank I'm using.

However I'm aware that Monzo is causing issues with retailers as scammers are creating new accounts and buying stuff without funds
 
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swillsy said:
I'm not sure that's even technically possible to block certain banks - just card types like visa/mastercard etc ! Most things I pay for on my phone and they've got no idea which bank I'm using.

However I'm aware that Monzo is causing issues with retailers as scammers are creating new accounts and buying stuff without funds
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They will more than likely just look at the card and say it’s not allowed though technically we know it’s probably not and it’s probably the owner saying no.
 
I've not experienced any signs, however, I've had consistent issues with the Esso app not accepting the card despite Chase giving me an approval notification to verify it. Plus Talkmobile don't appear to recognise Chase's details to setup a direct debit.
 
I started off using Revolut and was happy with them for a couple of years. Until they weren't happy with me transferring too much money to other family members through the account suddenly.

I was due to receive a modest inheritance and either had to make a new bank account (which I did with Santander) but also had an inactive Monzo account I'd opened a coupleof years earlier and they said they were able to allow a bank transfer over 100k into the account in a quicker time frame than Santander would be able to open my new account etc.

And I've used Monzo premium ever since without issue. I'd say the premium features are wasted on me outside of the virtual debit cards which I use all the time, and the use of Monzo Flex.

Also got an emergency loan approved through them in like 30 seconds, so I've had a great experience them. Which I was also having with revolut...

Has anyone used Wirex? I feel they're the best option for crypto enthusiasts but I lost interest in the space.
 
Personality+ said:
I started off using Revolut and was happy with them for a couple of years. Until they weren't happy with me transferring too much money to other family members through the account suddenly....

I'd say the premium features are wasted on me outside of the virtual debit cards which I use all the time, and the use of Monzo Flex.
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That can happen with anyone. The banks and institutions signed up people as fast possible in the past without necessarily delving deep into KYC checks. Tehn when the regulations were updated, many rushed to get more information about their customers and often blocked accounts, or at least outgoing payments. Even now the traditional banks do it.

For example I opened a Halifax account to take advantage a switching offer. It required £1,500 to be paid in each month. As soon as I tried to remove any of it though, my account was locked. Not only my Halifax account but every account or service with the Lloyds Group.

As for Monzo, yeah it works well as a basic account. They do a big song and dance about adding new features (mostly stuff other accounts already have), then you find they only for premium customers. That's one thing I like about Starling. New features and improvements are there for everyone.

Chase is still lagging behind on a few things.
 
mid_gen said:
Only reason I still have an RBS account is that I have to go into a branch to close it....and having to go into branches is precisely why I ditched it for Starling years ago.

Absolutely zero chance I will ever go back to a high street bank. Starling is better in every way.

Apparently you can just contact them to do a large cash withdrawal, though it's not something I ever need.
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I wouldn't say Starling is better in every way. It's better for most things.
The biggest downside to Starling for me is no link service.
I also have a First Direct account though.
 
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