Monzo/Starling Banking/Revolut

Scam said:
We have a Nationwide credit card with free foreign transactions and a Metro account with free cash withdrawals in Europe. Can't see any reason to faff with these prepaid card sort of things.
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I can see what you mean but Monzo and Starling are banks not prepaid cards (or wont be for much longer) and are debit cards on bank accounts so not the same as a credit card.

If people dont want the faff of applying for a credit card they are better off opening an account with Monzo or Starling.
 
B@Th*nG said:
I've been using Starling now for around 3 weeks in Leipzig, Germany. I have to say overall i'm very impressed and there have only been a couple of niggles so far. I think it's been covered already but the card will not work at every cash machine. I think because it's essentially a Mastercard the machine must have the abilty to draw cash out of a credit card, or something, because at Deutsche Bank it work fine but at Sparkesse (which are EVERYWHERE) it doesn't work. This has resulted in a number of hours lost, over the course of the three weeks, spent wandering to find a machine that it will work with. I think it wouldn't be as much of a problem everywhere, but with Sparkesse having cornered the cash machine market in Leipzig it's a bit of a ballache at times. Otherwise i'm really pleased with it :)

B@
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Does it not work with the mag strip activated?
 
englishpremier said:
They are cheaper, if the odd pound here or there matters to you.
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cheaper how?

as long as you pay off atm withdrawals within 24 hours there are no charges.

as long as you pay off card transactions within 30 days there are no charges.

the only bad thing with clarity card is you are spending their money not yours. i don't like to take credit if it can be avoided but it seems to be the best way to do it. as in i can't pre-load it with cash to spend.
 
Psycho Sonny said:
cheaper how?

as long as you pay off atm withdrawals within 24 hours there are no charges.

as long as you pay off card transactions within 30 days there are no charges.

the only bad thing with clarity card is you are spending their money not yours. i don't like to take credit if it can be avoided but it seems to be the best way to do it. as in i can't pre-load it with cash to spend.
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You've said it yourself. As long as you pay it off in 24 hours, so you constantly then have to muck about every-time you withdraw cash. I don't bother. It's 18.9% on cash until you pay it off, so I just leave it until the end of the month which works out roughly 1.5% or £1.50 per £100.

The Creation everyday credit card was always cheaper than Halifax Clarity at about £0.50 per £100 spent.

Obviously spending your own cash with Starling or Monzo (which now has it's limits) doesn't cost you anything.
 
englishpremier said:
You've said it yourself. As long as you pay it off in 24 hours, so you constantly then have to muck about every-time you withdraw cash. I don't bother. It's 18.9% on cash until you pay it off, so I just leave it until the end of the month which works out roughly 1.5% or £1.50 per £100.

The Creation everyday credit card was always cheaper than Halifax Clarity at about £0.50 per £100 spent.

Obviously spending your own cash with Starling or Monzo (which now has it's limits) doesn't cost you anything.
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would normally just do it at the end of each day when i got back to the hotel.

so every day when i got back i would just login online and send whatever i had taken out at the atm. job done.

took all of 5 minutes. not a huge issue for me.
 
And over a weeks holiday that's almost 30mins you've spent doing admin. No thanks.

I thought trendy new apps were supposed to save people time? :confused:
 
Scam said:
And over a weeks holiday that's almost 30mins you've spent doing admin. No thanks.

I thought trendy new apps were supposed to save people time? :confused:
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that's Halifax credit card, not trendy new banks. But transferring money doesn't take 30mins anyway maybe 30 seconds.
 
Psycho Sonny said:
why not? it's the best way to do it abroad
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Because you typically get stung for exorbitant interest and/or charges. The best way is having a current account that lets you withdraw cash for no charge, like Metro bank (in Europe at least but I'm sure there are ones that work worldwide).
 
Scam said:
Not all of it. Do explain...
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Halifax charges the equivalent interest of £1.50 per £100 withdrawn abroad, but crucially if the money paid back into the account within 24 hours there is no charge.

Creation charge the equivalent interest of £0.50 per £100 withdrawn, again, pay it off right away and there is no charge.

The new normal is for mobile-first banks to not charge anything, but Monzo messed that up.
 
Scam said:
Not all of it. Do explain...
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englishpremier said:
Halifax charges the equivalent interest of £1.50 per £100 withdrawn abroad, but crucially if the money paid back into the account within 24 hours there is no charge.

Creation charge the equivalent interest of £0.50 per £100 withdrawn, again, pay it off right away and there is no charge.

The new normal is for mobile-first banks to not charge anything, but Monzo messed that up.
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I think it already has been explained :)
 
Question to revolut users.

I've bought 3 things online using the card now on both Euro and gbp.

Each time the transaction has gone through and money deducted from the account.

After 5 days it's recredited then on day 6 or 7 it's redebited.

Is this normal?

It happened again on an Amazon.de purchase last night. It was shipped 3 days ago and at 11pm last night it was recredited to my account. What prompted me to post this is that they just redebited me now.

What on earth?
 
Efour said:
Question to revolut users.

I've bought 3 things online using the card now on both Euro and gbp.

Each time the transaction has gone through and money deducted from the account.

After 5 days it's recredited then on day 6 or 7 it's redebited.

Is this normal?

It happened again on an Amazon.de purchase last night. It was shipped 3 days ago and at 11pm last night it was recredited to my account. What prompted me to post this is that they just redebited me now.

What on earth?
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This used to happen with Supercard in fact I benefited to the tune of a few hundred pounds from it.

It might be something to do with exchange rates. They debit it at the time, but it's just a pending transaction. When the retailers bank finally asks for the money they credit it, and debit the actual amount at the time of the request. Just my guess.
 
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