Monzo/Starling Banking/Revolut

Vanquish-Storm · 11 May 2023 at 22:40

Monzo increased their saving interest rate today.

We've raised our interest rate for Personal and Joint Instant Access Savings Pots to 3.40% AER (variable). So from today (11/05/2023), you’ll earn interest at this higher rate.

D3K · 11 May 2023 at 22:45

Number go up

ChrisD. · 11 May 2023 at 23:00

As have Chase, and Chip, and god knows who else.

Vanquish-Storm · 12 May 2023 at 07:50

ChrisD. said:
As have Chase, and Chip, and god knows who else.

What’s % to?

Not sure of any high street bank increasing so quick

tom_e · 12 May 2023 at 07:53

ChrisD. said:
As have Chase, and Chip, and god knows who else.

Chip haven't since the latest interest rate raise.

ChrisD. · 12 May 2023 at 08:02

Chase is 3.3%, wasn't sure if Chip had gone up but they're higher at 3.71%

Actually tempted to send some savings over to them. What are they like?

englishpremier · 12 May 2023 at 08:23

Chip increased theirs to 3.71 in anticipation of yesterdays rate rise. Chip and Kroo are one of the few to do so.

Monzo was fast out of the blocks to increase theirs once the actual rate rise had happened. Chase slower, but still fast for them.

Now let's see what the traditional banks do. I'm guessing Barclays Rainy Day Saver and Santander's Edge will remain at 5.12% and 4% respectively.

tom_e · 12 May 2023 at 08:27

ChrisD. said:
Chase is 3.3%, wasn't sure if Chip had gone up but they're higher at 3.71%

Actually tempted to send some savings over to them. What are they like?

They're decent I've had money with them on and off for a few years with no issues. Even better now that it's a proper interest paying account rather than the old bonus setup so everything is covered by FSCS.

robfosters · 19 May 2023 at 10:50

Banking awards announced yesterday.

Best British bank - Chase
Best Banking app - Monzo
Best business banking provider - Starling
Best credit card provider - Monzo
Best current account provider - Chase
Best savings provider - Chase

LiE · 19 May 2023 at 11:03

robfosters said:
Banking awards announced yesterday.

Best British bank - Chase
Best Banking app - Monzo
Best business banking provider - Starling
Best credit card provider - Monzo
Best current account provider - Chase
Best savings provider - Chase

Challenger banks cleaning up.

dlockers · 19 May 2023 at 11:06

LiE said:
Challenger banks cleaning up.

Unfair given how small the scope of challenger banks are versus the big boys.

englishpremier · 19 May 2023 at 12:35

robfosters said:
Banking awards announced yesterday.

Best British bank - Chase
Best Banking app - Monzo
Best business banking provider - Starling
Best credit card provider - Monzo
Best current account provider - Chase
Best savings provider - Chase

The banking awards are a bunch of BS though, it's just marketing for Smart Money People. They isn't any objectively or proper data science behind it.

I used to work a firm that ran the creative east awards. That too was a bunch of BS.

Vanquish-Storm · 19 May 2023 at 18:24

Monzo don’t have a credit card?

Captain · 19 May 2023 at 18:26

Vanquish-Storm said:
Monzo don’t have a credit card?

Monzo flex.

robfosters · 19 May 2023 at 18:39

Monzo flex is better than a credit card imo. 3 months interest free, APR matching prime cards, have to pay each transaction within 12 months, so no debts languishing for years. Ability to flex debit card payments up to 2 weeks old. Bringing out a physical card now too.

Vanquish-Storm · 19 May 2023 at 19:01

It’s not a credit card though, its different but better

dlockers · 20 May 2023 at 08:32

Do Monzo do referrals?

Deleted member 77746 · 20 May 2023 at 08:33

dLockers said:
Do Monzo do referrals?

For free £5 yeh.

ChrisD. · 20 May 2023 at 08:33

dLockers said:
Do Monzo do referrals?

I think so.

Monzo Help - How do I invite someone to Monzo?

The home for everything you need to know about using Monzo.

monzo.com

dlockers · 20 May 2023 at 08:51

.........