Monzo/Starling Banking/Revolut

[Deleted member 651465]

I'd love to have my balance always rounded, so if someone transfers me [say] £4.49, the 49p goes into my stash pot automatically. Can I do that by IFTTT?

Yup

There’s an applet that rounds up your transaction to the nearest pound, which does exactly this. So, if something cost £4.25, the account would show £5 and the other 75p goes in to a pot of your choice.

 

[Basher]

Yup

There’s an applet that rounds up your transaction to the nearest pound, which does exactly this. So, if something cost £4.25, the account would show £5 and the other 75p goes in to a pot of your choice.

Right, but is there something that does it for incoming, too?

 

[Feek]

Right, but is there something that does it for incoming, too?

Exactly, I want it for incoming.

I have set up some IFTTT things, just little additions to my savings. I like the summer/winter ones

 

[LeeUK]

One aspect that annoys me about all of these accounts (and I have them all). Is app updates.

For some reason they think it's ok have crappy little updates or add new features most people are never going to use (fair enough), and then force you to update. If you accessing your account on a limited network downloading a 150mb (some are that big) doesn't work.

What I don't like is the lack of a changelog. You go on the Play/App Store and there is a new update but it never says what they have added or done, just a dumb one liner about making improvements or adding new features. Sames the way with software these days.

 

[LeeUK]

I'm tempted to chuck my bank account in and throw all my money into my Revolut account. Would that be silly?

I've seen people stick their noses up at Fintech banks like Revolut and Monzo etc. Has the opinion changed?

Throw all your money in Starling or Monzo, not Revolut. Revolut don't have a UK banking licence/FSCS protection therefore they are a lot riskier.

 

[randomshenans]

I have never had *touchwood* an issue with revolut and have had large amounts of cash through my account since I opened it way back. I've sent a total of 130k EUR apparently according to the statement since opening the account.

 

[LeeUK]

I have never had *touchwood* an issue with revolut and have had large amounts of cash through my account since I opened it way back. I've sent a total of 130k EUR apparently according to the statement since opening the account.

Yeah OK if you're just using it as a cheap way to transfer money between currencies. I'm saying I wouldn't use them as my main every day current account.

 

[Basher]

I have never had *touchwood* an issue with revolut and have had large amounts of cash through my account since I opened it way back. I've sent a total of 130k EUR apparently according to the statement since opening the account.

Similar here, but I'd never keep any more in there long term. I'd just use it to transfer between stock in USD into GBP.

 

[randomshenans]

Yeah OK if you're just using it as a cheap way to transfer money between currencies. I'm saying I wouldn't use them as my main every day current account.

Well it's different for me as I earn in CHF and pay most things in EUR yet have bills in both currencies, so I do use it as a main bank for the most part. I just send stuff to my actual french account to cover my tax bill and rent, which I had to have come out of that account, as well as some other insurances and that, that weren't possible to move over. I worked out it was a few hundred a month it would cost me in fees alone if I just used the normal bank and everything takes days!

 

[randomshenans]

Similar here, but I'd never keep any more in there long term. I'd just use it to transfer between stock in USD into GBP.

I don't keep large amounts in there tbh for long periods

 

[Feek]

I don't keep large amounts in there tbh for long periods

Ahh, a professional launderer

 

[randomshenans]

Ahh, a professional launderer

Professional spender haha

 

[The_Abyss]

haha, not really. I get to chill and eat breakfast with wild turtles.

It's just pretty much most things in the press especially the industrial press were already talking about this a couple of years ago. Especially with BBVAs huge state in Atom, and a little more recently Starling as being a potential take over target given that it is already consulting with traditional banks, supposedly to help them with their tech.

I work loosely in finance so fair enough I do probably read around it a little more. You're right no harm, if others find value in the article, so I'll wave my white flag now.

It should never be forgotten than banks like Starling, although disruptors, are firmly rooted in the banking circle. Their founders have all worked in the UK banking system, and have worked their **** off to make it this far. But their end goal will always sights firmly focussed on the established banking system, in one way or another. Either take them on, out or court them. The business model is relatively simple, scaling it quickly enough is the huge challenge.

 

[Jimbeam3678]

It should never be forgotten than banks like Starling, although disruptors, are firmly rooted in the banking circle. Their founders have all worked in the UK banking system, and have worked their **** off to make it this far. But their end goal will always sights firmly focussed on the established banking system, in one way or another. Either take them on, out or court them. The business model is relatively simple, scaling it quickly enough is the huge challenge.

So enjoy it while lasts ...

Having tried Starling and Monzo I have to say I prefer Monzo for the pots and handling of DD’s. One thing for sure is that the consumers are the winners at the moment.

 

[Deleted member 77746]

Ahh, a professional launderer

Spends them on large assets like boats, gold, casino investment, offshore banks and housing. lol

 

[Yas786]

Anyone hear the news about curve and wirecard, which have now been suspended by the FCA recently.
Kinda sucks as all my cards are tied into curve so really just use it and choose which card I want the money to come from.

At the moment it’s all been suspended and curve have said they started to migrate from wirecard a few mths back. Probably could see what was going to happen. Hopefully it will all be back up and running soon.

 

[Deleted member 77746]

Anyone hear the news about curve and wirecard, which have now been suspended by the FCA recently.
Kinda sucks as all my cards are tied into curve so really just use it and choose which card I want the money to come from.

At the moment it’s all been suspended and curve have said they started to migrate from wirecard a few mths back. Probably could see what was going to happen. Hopefully it will all be back up and running soon.

Just move all your money into a new account and then ditch them accounts.

1.9 billion fraud - wow

https://www.headforpoints.com/2020/06/26/curve-card-impacted-as-the-fca-closes-down-wirecard-uk/

 

[enigma27]

Just move all your money into a new account and then ditch them accounts.

1.9 billion fraud - wow

https://www.headforpoints.com/2020/06/26/curve-card-impacted-as-the-fca-closes-down-wirecard-uk/

Curve were already in the process of moving their payment processing to Mastercard, this came out of the blue hence not being able to use curve until they can migrate everyone.

Plus you don't need to move your money anywhere, curve does not hold you cash its more like a virtual card that allows you to pick which account to use to pay for stuff in the fly.

 

[Deleted member 77746]

Curve were already in the process of moving their payment processing to Mastercard, this came out of the blue hence not being able to use curve until they can migrate everyone.

Plus you don't need to move your money anywhere, curve does not hold you cash its more like a virtual card that allows you to pick which account to use to pay for stuff in the fly.

ah, not sure why anyone would chose that over monzo/stirling/revolt e.t.c.

 

[Diddums]

I've never had a good feeling about Curve. You're effectively giving all your cards to one single operator who then has access to all your wedge, yeah... no thanks. The benefits of the card don't even come close to outweighing that level of risk for me.