Monzo/Starling Banking/Revolut

Raymond Lin said:
Monzo or Starling. Much are muchness between them. I have both, their features are very similar too. I prefer Starling for the fact that I can get a Business Account with it. In terms of rates they are the same for overseas purchases. Both have NPC wallet support, both have categories of spending and alerts etc.

I also have Revolut as well.
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I've stopped using my Starling account. I just prefer the iOS Monzo app. Was in Thursday-Monday and Monzo is just great for travelling. Last few holidays I've been on it is nice not worrying about taking cash with me.

The only thing stopping me from going fully into Monzo now is that they don't have any benefits on their account like I do with my Natwest one. So at the start of the month I just transfer most of my income on to Monzo and just use that.
 
JunglistE said:
I've stopped using my Starling account. I just prefer the iOS Monzo app. Was in Thursday-Monday and Monzo is just great for travelling. Last few holidays I've been on it is nice not worrying about taking cash with me.

The only thing stopping me from going fully into Monzo now is that they don't have any benefits on their account like I do with my Natwest one. So at the start of the month I just transfer most of my income on to Monzo and just use that.
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Monzo isn't great for travelling though as they have low ATM withdrawal limits. Starling has none.

That is one promise they went back on. They also said they'd never do business accounts, but seemingly after Starling opening theirs, Monzo want one too. After-all Monzo is born from Starling anyhow, so might as well copy them right ;)

I have both accounts, but Monzo has turned me off them over the past year or so.
 
inferno said:
Can someone sum up the problems with Revolut? I was pretty pleased that they are a British company but heard some bad things...
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CFO resigned recently following some compliance issues that could have facilitated money laundering. Also reports of somewhat questionable recruitment practices and a workplace culture driven by crazy KPIs. Not overly surprising for a company that has "Get **** done" in neon on their office wall. That said, I don't have a problem with using them occasionally when abroad and being able to send/receive/hold euros is a cool feature.
 
beh said:
CFO resigned recently following some compliance issues that could have facilitated money laundering. Also reports of somewhat questionable recruitment practices and a workplace culture driven by crazy KPIs.
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So not overly different to every financial institution that has ever existed ?
 
String said:
Couldn't they be more accurately described as a Lithuanian bank with offices in London?
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More like a British company with Lithuanian banking licence. They didn't just magically become a Lithuanian company when they received their banking licence.

Still though, they are the only digital only bank/challenger to have made a profit.
 
Just had an email from Revolut saying they are changing account numbers and sort codes and that the old ones won't work after the 22nd May.

Glad I don't use them. Not sure why I even bothered opening the account. Would be a right faf having to change all payment info and direct debits etc.
 
Just signed up for Starling. Mainly because of some of the stories coming out about Revolut but also because it's the only one with no charges after x amount when withdrawing money outside the UK!
 
englishpremier said:
Monzo isn't great for travelling though as they have low ATM withdrawal limits. Starling has none.

That is one promise they went back on. They also said they'd never do business accounts, but seemingly after Starling opening theirs, Monzo want one too. After-all Monzo is born from Starling anyhow, so might as well copy them right ;)

I have both accounts, but Monzo has turned me off them over the past year or so.
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That's never really bothered me as I always prefer to deal with a card than cash when travelling but it's not ideal for some countries where cash is king. I'm not going to close my Starling account I just forget to use it
 
Jokester said:
Sounds like Revolut might be in a bit of bother.

Revolut whistleblower had concerns over CEO conduct and compliance https://www.bbc.co.uk/news/technology-47751945
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How much more evidence to people need...?

It is still your money people, even you've never held it and it is just numbers on a screen. However 'cool' or convenient it may appear, it just isn't worth the risk.
 
Revolut is still handy for me to process quick EUR bank transfers.
Starling is my go-to travel card now though as it seems a lot of places in NL/Belgium don't like the pre-paid aspect of it.
 
Begbie said:
Quite worrying about Revolut, had £250 sat in a vault!

Will be removing it tomorrow. It's so bloody handy too.
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I just sold some stock and was waiting to see how low the ££/$$ would go before transferring, think I'll just cash in now as Revolut worry me more and more each day.
 
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