Monzo/Starling Banking/Revolut

englishpremier · 20 Apr 2019 at 11:13

squawkBOX said:
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.).

Why would Monzo and Starling, that are essentially just retail banks be any more unsustainable than any other highstreet retail bank? They earn their money in the same ways, interest on overdrafts, loans, fees on international transfers, fees on business banking etc..

nightmare99 · 20 Apr 2019 at 12:31

Starling also provide payment processing services to other banks & institutions so have that as a revenue stream as well.

Dirk Diggler · 22 Apr 2019 at 10:48

I used my Starling card to make a deposit at Party Poker last week. I've received an alert in the Starling App today telling me that my payment has been reversed by the merchant. My credit is still showing on my PP account.

Anyone seen anything similar?

LeeUK · 22 Apr 2019 at 12:30

String said:
I used my Starling card to make a deposit at Party Poker last week. I've received an alert in the Starling App today telling me that my payment has been reversed by the merchant. My credit is still showing on my PP account.

Anyone seen anything similar?

Not the same but I put £30.03 of diesel in my car at a pay at pump today but Starling say I spend £20.

If that is true then its a win win!

TNGL · 22 Apr 2019 at 12:36

String said:
I used my Starling card to make a deposit at Party Poker last week. I've received an alert in the Starling App today telling me that my payment has been reversed by the merchant. My credit is still showing on my PP account.

Anyone seen anything similar?

I have after making a payment at Sainsbury's... they got their money back within a few days though.

Dirk Diggler · 22 Apr 2019 at 13:14

TNGL said:
I have after making a payment at Sainsbury's... they got their money back within a few days though.

I'll look out for the payment reappearing. I know it sounds like a win, but I'm keen to see that the system is accurate as I wouldn't be chuffed if I got charged more than I should for something.

Sandycheeks · 3 May 2019 at 19:05

I'm thinking of opening a Starling account, mainly for trips abroad.
How long does it take when transferring money to Starling, until it appears in the account?

Raymond Lin · 3 May 2019 at 19:08

Sandycheeks said:
I'm thinking of opening a Starling account, mainly for trips abroad.
How long does it take when transferring money to Starling, until it appears in the account?

Instant.

the-evaluator · 29 May 2019 at 12:23

Revolut have at long last started to work with Apple Pay. If only Curve and Virgin Atlantic Mastercard could do it I'd be a happy man.

Shadowness · 6 Jun 2019 at 21:09

Sorry for a bit of a bump....
Finally downloaded Starling this evening, absolute doddle to set up.....took less than 10 minutes.
So I’m all set up and have a card on the way.
The big question is to I do “the switch” and use starling for my main current account?

How many of you are using Starling as your day to day current account? Being paid into it and using it for most general spending etc inc. DD bills

tom_e · 6 Jun 2019 at 21:15

Been using it as my main since January without any issues.

Shadowness · 6 Jun 2019 at 21:18

And presumably the switch is simple and is takes care of everything? Ie money coming in as salary and all bills and outgoings?

The_Abyss · 6 Jun 2019 at 21:18

For general spending yes. My DDs come out of a separate account.

Shadowness · 6 Jun 2019 at 21:24

Not sure whether to keep my normal Lloyds account and just auto transfer £1k or so to Starling each month and use it just for general spending.
With bills etc still coming out of Lloyds as usual

tom_e · 6 Jun 2019 at 21:29

Shadowness said:
And presumably the switch is simple and is takes care of everything? Ie money coming in as salary and all bills and outgoings?

Yep I done 3 switches over the last few months of last year to get the bonuses and all went fine, no intervention from me needed at all.

jpaul · 6 Jun 2019 at 21:35

tom_e said:
Yep I done 3 switches over the last few months of last year to get the bonuses and all went fine, no intervention from me needed at all.

if you use their switch they want you to close the original account and use the new one exclusively though, so I've just opened a new account and set up auto transfers as Shadowness suggests .... Santander for the cashback and current account interest.

LeeUK · 6 Jun 2019 at 22:05

Shadowness said:
Sorry for a bit of a bump....
Finally downloaded Starling this evening, absolute doddle to set up.....took less than 10 minutes.
So I’m all set up and have a card on the way.
The big question is to I do “the switch” and use starling for my main current account?

How many of you are using Starling as your day to day current account? Being paid into it and using it for most general spending etc inc. DD bills

I've been using Starling as my main current account since I got it in late 2017 and haven't looked back. Athough I transferred everything over myself (salary, DDs, etc) myself. I didn't use the switching service.

Liquid_Entity · 7 Jun 2019 at 07:36

I moved everything over earlier this year using their switch and was fine. Apart from me forgetting my expenses account at work and it went awol. Not a starling fault that.

Strangely the only issue I've ever had was yesterday. Tried to wirhdraw £90 in cash from 2 different LINK atms and neither worked. Raised a question but 31 people waiting. I think they need a bigger customer service base or maybe they were just inundated due to atm cash problems everywhere yesterday and not just me.

Shadowness · 7 Jun 2019 at 08:23

Thanks for the feedback.

I'm really torn between fully switching, or just setting up a SO and paying in a chunk of my salary into Starling every month and using the app to track/manage general spending. (and I travel overseas a lot, so the 0% fees is a big plus too)

I presume if you make the switch and don't get on with it for any reason, I can always switch back to Lloyds with no hassle?

Dirk Diggler · 7 Jun 2019 at 08:46

I haven't fully switched, there's no need to. I've moved all my direct debits to Starling and I pay in a set amount each month to cover them. My wages still get paid to my other account.