Monzo/Starling Banking/Revolut

ChrisD. · 28 Feb 2024 at 16:10

Yup not difficult and well worth the free cashback.

MatsyLR · 28 Feb 2024 at 20:29

I've earned £103.30 according to the Chase app through the 1% since April 2022. I'm not a big spender so have not really made much. Originally joined as the saving account was the highest but others started to go higher and they didn't bother to follow. Just use it as my main bank account now.

But I like the app and never had any issues with it.

silvagti · 11 Mar 2024 at 20:49

Any recommendations regarding these banks at the moment? Was considering opening an account with either Monzo or Chase primarily for the easy-access savings interest rates?

Maccy · 11 Mar 2024 at 21:04

If you want easy access with semi decent savings rates then go for Chase - currently paying 4.1%.

MatsyLR · 11 Mar 2024 at 21:26

Chip is also easy access at 4.84
Shows you daily interest increase until the end of the month also so you know how much your getting

They also have a 5.1% easy access ISA (20k max) with no drawback for withdrawals

Maccy · 11 Mar 2024 at 21:58

I didn’t recommend Chip because @silvagti asked about a bank account - Chip is just a savings account, but yeh the interest rate is better.

MatsyLR · 11 Mar 2024 at 22:00

I use Chase for banking, Chip for savings

No issues with either of them

englishpremier · 11 Mar 2024 at 22:04

silvagti said:
Any recommendations regarding these banks at the moment? Was considering opening an account with either Monzo or Chase primarily for the easy-access savings interest rates?

There's also Kroo Bank. But really since non of them do a hard credit check just open all three. Easy does it.

englishpremier · 28 Mar 2024 at 09:03

Seems to be some interesting goings on at Starling at the moment.

Recently they suspended all applications for new euro or USD accounts for both personal and business.
The founder and CEO stepped down claiming conflict of interest (due to being the major shareholder and CEO)
They put a hold on all affiliate and partner activity.

Could just be random coincidence of course.

Since I like to speculate, I wonder if a) they are being investigated over COVID loans, b) planning a take over of another bank c) In the very early stages of prepping for an IPO.

Stu999 · 28 Mar 2024 at 11:19

englishpremier said:
Seems to be some interesting goings on at Starling at the moment.

Recently they suspended all applications for new euro or USD accounts for both personal and business.
The founder and CEO stepped down claiming conflict of interest (due to being the major shareholder and CEO)
They put a hold on all affiliate and partner activity.

Could just be random coincidence of course.

Since I like to speculate, I wonder if a) they are being investigated over COVID loans, b) planning a take over of another bank c) In the very early stages of prepping for an IPO.

The CEO stepped down a year ago? https://www.theguardian.com/busines...s-ceo-to-avoid-potential-conflict-of-interest

bm_999 · 1 Apr 2024 at 18:12

englishpremier said:
Seems to be some interesting goings on at Starling at the moment.

Recently they suspended all applications for new euro or USD accounts for both personal and business.
The founder and CEO stepped down claiming conflict of interest (due to being the major shareholder and CEO)
They put a hold on all affiliate and partner activity.

Could just be random coincidence of course.

Since I like to speculate, I wonder if a) they are being investigated over COVID loans, b) planning a take over of another bank c) In the very early stages of prepping for an IPO.

Problems or keep money in there?
Have had a normal.person current with them for a while.with interest up to 5k
Was considering chase aswell but also just need a decent savings ac with no need to access, is that chip?

englishpremier · 1 Apr 2024 at 18:21

bm_999 said:
Problems or keep money in there?
Have had a normal.person current with them for a while.with interest up to 5k
Was considering chase aswell but also just need a decent savings ac with no need to access, is that chip?

No issues, just me idly gossiping.

jeffk · 1 Apr 2024 at 23:41

bm_999 said:
Problems or keep money in there?
Have had a normal.person current with them for a while.with interest up to 5k

@englishpremier is talking a load of nonsense but, even if he wasn’t, Starling have a UK banking licence so your money is protected up to £85k.

MatsyLR · 2 Apr 2024 at 00:04

bm_999 said:
Problems or keep money in there?
Have had a normal.person current with them for a while.with interest up to 5k
Was considering chase aswell but also just need a decent savings ac with no need to access, is that chip?

Can't beat Chip at the moment for easy access

ChrisD. · 2 Apr 2024 at 08:13

MatsyLR said:
Can't beat Chip at the moment for easy access

Easy access to your entire bank account for them.

200sols · 2 Apr 2024 at 10:52

I'm seeing plenty out there with higher rates than chip.

tom_e · 2 Apr 2024 at 12:39

200sols said:
I'm seeing plenty out there with higher rates than chip.

Which ones?

413x · 2 Apr 2024 at 12:59

I'm still yet to try monzo as they have never offered a bribe for joining.

Was on first direct last year and although they have a load of good reviews I found the app experience lacking.
Gf seems to like monzo

uscool · 2 Apr 2024 at 13:31

tom_e said:
Which ones?

Easy Access
Post Office 5.06%
Secure Trust Bank 5.05%
Cynergy Bank 5.01

Ogoshi · 2 Apr 2024 at 13:52

Annoyingly with Monzo they don't seem to update the rate for you and you have to close the pot and open a new one to get the latest rate