Monzo/Starling Banking/Revolut

Starling is great. Monzo is good, but reliant on investor backing at the moment I believe and isn't really turning a profit. Revolut is shady as all hell.
 
I use revolut a lot but now a bit worried with the shady tactics.

I have a curve card but haven’t used it abroad as I’m not sure if their conversion rates are better or worse than revolut.

At least with revolut when I change currencies it gives me the rate that it will convert it and I can then check it against banks or currency exchange places. But curve doesn’t give me a conversion rate before using it.

Unless I’m missing something. Usually I’ll compare revolut to xe.com even though I’ll never get the rates that xe say but revolut comes pretty close to it.
 
I believe Revolut gives you a slightly better rate then Curve, I did a test a few months ago and can't remember the figures but there wasn't much in it. I use Curve as I like the convenience of not having to load funds onto it and I collect reward points on the card that my Curve is linked to.
 
the-evaluator said:
I believe Revolut gives you a slightly better rate then Curve, I did a test a few months ago and can't remember the figures but there wasn't much in it. I use Curve as I like the convenience of not having to load funds onto it and I collect reward points on the card that my Curve is linked to.
Click to expand...
Yeh that’s a point, don’t have to load money onto the curve card.

I’m off to Abu Dhabi in a couple of weeks so going to load some money into revolut and see what rate I get. Then use curve out there and see what the difference is in conversion rate.
 
Anyone who has the teal colour Starling card know if it works in Pay at Pump petrol stations?

I know my older purple Starling card does but want to make sure before I request a new card.

Only asking as the purple card doesn't work at PO so their must be differences within the card chip or something like that.
 
LeeUK said:
Anyone who has the teal colour Starling card know if it works in Pay at Pump petrol stations?

I know my older purple Starling card does but want to make sure before I request a new card.

Only asking as the purple card doesn't work at PO so their must be differences within the card chip or something like that.
Click to expand...

Teal card is their fully fledged bank card, no different then any other bank card from Halifax or NatWest ext.

The purple was still a "prepay" card up to a point.
 
LeeUK said:
Anyone who has the teal colour Starling card know if it works in Pay at Pump petrol stations?

I know my older purple Starling card does but want to make sure before I request a new card.

Only asking as the purple card doesn't work at PO so their must be differences within the card chip or something like that.
Click to expand...
Yep no problems at all the ones I've used.
 
Yup teal card works, you just get the £1 pre auth as the alert rather than the full amount.

I wish in the starling app you could switch spending to a normal statement type view, so that you could easily see a timeline of spending.
 
One thing I've noticed twice now with Starling (both times after returning from a trip to Europe), is that when I transfer the remainder of my balance out to my normal current account, I end up with a negative balance the next day. First time it was 10p, now 24p. I'm careful only to transfer the remainder of the balance but this is twice it's happened now.

There's no statement function I can see in Starling which will let me see the balance after each transaction which would solve this one. Unless someone can point it out to me? The button in the bottom right shows each transaction, but the then only shows the total amount spent each day. I'd like to see a remaining balance at the time of each transaction.

EDIT: Nevermind, just found the statements section! Problem solved, it was a late Chip & PIN transaction that, due to the reduced exchange rate, had deducted more than was first shown in the app.

chris.tarry85 said:
Has anyone successfully managed to register their interest for the Starling Euro account?

It needs a phone number and I can't find a format it will accept?? :rolleyes:
Click to expand...

How do you do that? A Euro account would be handy for me! It's the only reason I'm using Revolut at the minute.
 
neil_g said:
Yup teal card works, you just get the £1 pre auth as the alert rather than the full amount.

I wish in the starling app you could switch spending to a normal statement type view, so that you could easily see a timeline of spending.
Click to expand...

Just swipe up from the home screen?
 
Another nail in Revolut's coffin today, I transferred from Revolut to bank account on Tuesday, only hit my account today. When Starling does this instantly, what's their excuse?

They also use a 3rd party for their transfers which is odd, probably another loophole.
 
Diddums said:
Another nail in Revolut's coffin today, I transferred from Revolut to bank account on Tuesday, only hit my account today. When Starling does this instantly, what's their excuse?

They also use a 3rd party for their transfers which is odd, probably another loophole.
Click to expand...
That’s odd, usually takes an hour tops for me? Mind you I’ve not done it for a month or so.
 
Bank transfers with Revolut are not always instant. They can be variable, from a few hours to a few days. They offer to "turbo boost" the transfer for a fee if you are in a rush.

My expectation is the delay is due to them using a hedging technique by the way of "netting" all the foreign currency transfers. There is no point in them taking a hit transferring say EUR to GBP, when someone else wants to do the opposite. So I expect that they pool all the transfers together to net the differences and limit the extent of their foreign currency exposure.

Personally, I think that all the neo-banks are offering something that is slightly unsustainable. I've got Starling (GBP and EUR accounts), Monzo and Revolut. They all have different purposes and are not completely comparable. I like Revolut, as their app has some features you don't get elsewhere. (ie alerts when exchange rate hits a threshold or auto conversion when rates hit a threshold and the ability to top-up in currencies other than GBP.).
 
You must log in or register to reply here.
Back
Top Bottom