1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Monzo/Starling Banking/Revolut

Discussion in 'General Discussion' started by Junglist, Aug 4, 2017.

  1. Feek

    Commissario

    Joined: Oct 16, 2002

    Posts: 228,609

    Location: In the radio shack

    Dead easy, I just started the process from within the Monzo app and a couple of weeks later, it was all done automatically. Standing orders and direct debits were all transferred over along with my balance. If any money gets paid into the old account for up to three years, it's automatically moved into the new one without you having to do anything.

    I had to re-set things which I had paid by card such as Audible, etc but there wasn't many of those.
     
  2. Sho

    Mobster

    Joined: Sep 21, 2006

    Posts: 4,558

    Location: Oldham

    Ah thanks for that. Will give it a go tomorrow.
    I think its quite normal to worry about something that I've never done :p

    Been watching this thread for a while. Mrs has a Revolut card, completely different mobile banking experience then your standard bank apps.
     
  3. Feek

    Commissario

    Joined: Oct 16, 2002

    Posts: 228,609

    Location: In the radio shack

    You're welcome @Sho - If you scroll back to post #937 and onwards, you'll see that's when I did it and I had various questions which you'll probably have as well that were all answered very quickly.
     
  4. Sho

    Mobster

    Joined: Sep 21, 2006

    Posts: 4,558

    Location: Oldham

    Done the switch over. Will be up and running from 10th July. Not long left. Full transfer and closure of old account.

    Happy with that.

    One last thing, will I need to contact HR to update my bank details or will that get covered too?
     
  5. Feek

    Commissario

    Joined: Oct 16, 2002

    Posts: 228,609

    Location: In the radio shack

    You’ll need to do that yourself but the app can generate a nice little email with all the details for you.
     
  6. Jambo

    Soldato

    Joined: Aug 4, 2004

    Posts: 5,192

    I just applied for a business account with Starling for a new company but it’s a bit of a pain. They want me to prove what the business does but I can’t because it’s new.

    I can potentially get a letter from my accountant (which they give as an option) but have tried giving more detail on our plans first.

    My mate had this problem as well.
     
  7. Dirk Diggler

    Capodecina

    Joined: Jan 6, 2013

    Posts: 14,229

    This is why I didn't bother with a business account with Starling
     
  8. Vanquish-Storm

    Mobster

    Joined: Apr 22, 2009

    Posts: 3,109

    Location: North-West

    They will want an answer for every single thing they list. You give a piece of information they ask for more.

    Try Monzo instead.
     
  9. Maccy

    Commissario

    Joined: Nov 23, 2004

    Posts: 36,610

    Location: Herts

    @Jambo definitely consider Tide, they were very easy to setup.
     
  10. Junglist

    Soldato

    Joined: Jun 11, 2015

    Posts: 5,553

    Location: Bristol

    I'm really excited to make the switch. We should have completed our house purchase fairly soon and as soon as we get the keys I'm going to start the process.

    I do wish they'd (Monzo) would look at returning the attempt of doing account benefits. That's the only thing keeping me tied to Natwest at the moment
     
  11. LiE

    Capodecina

    Joined: Aug 2, 2005

    Posts: 20,265

    Location: Milton Keynes

    Monzo are close to relaunching Monzo plus. Covid put it on hold but I’d expect to see it this year.
     
  12. Marky

    Capodecina

    Joined: Apr 16, 2007

    Posts: 23,012

    Location: UK

    After reading a few pages, it looks like Monzo is the favourite out of the lot.

    Has anyone used them for a Business Account?

    I’m also looking into Tide - I see they do free company registration, but I am registering elsewhere as I don’t want to use my home address for the business address.
     
  13. Vanquish-Storm

    Mobster

    Joined: Apr 22, 2009

    Posts: 3,109

    Location: North-West

    We used a company formation company to register, Monzo say they will send the first card to that address (even if you have a personal account with them) but messaged them in app and they confirmed my ID and sent the card to my home address.

    You can also get a free square card reader and no fees on the first £1000 ATM through monzo if that's handy for anyone.
     
  14. Jambo

    Soldato

    Joined: Aug 4, 2004

    Posts: 5,192

    Cheers guys. I still hadn’t heard back from Starling so applied with Monzo and had a personal and business account opened within 15 minutes.
     
  15. Marky

    Capodecina

    Joined: Apr 16, 2007

    Posts: 23,012

    Location: UK

    What formation company did you use? The one I was going to use are not accepting any further applications due to COVID apparently...
     
  16. Sho

    Mobster

    Joined: Sep 21, 2006

    Posts: 4,558

    Location: Oldham

    I'm enjoying using my new Starling account. Switch over is on the 10th. Not long left.

    But I've been very impressed with it. Like how you get notifications instantly when using Google Pay or paying for any good using debit card, or even receiving funds from friends or family.
    Breakdown on what you've spent on. That's very handy.

    Like the Spaces. Very good to save some money towards one side for what ever reaons. Already created one. Need to buy a laptop soon for my teenager, for school work.

    The app is very clean. Much better then Santander app. So far it's been a very positive.
     
  17. lord filbuster

    Wise Guy

    Joined: Jul 7, 2007

    Posts: 1,367

    I only use it because Barclays won't work with Samsung or Google pay, and their own app is pretty annoying to use for contactless payments. No idea why Barclays are like that, because they work fine with apple pay. I just have one card linked to the curve one, which I only use for my phone. I wonder how many of their customers are doing something similar.
     
  18. Vanquish-Storm

    Mobster

    Joined: Apr 22, 2009

    Posts: 3,109

    Location: North-West

    We used https://www.companiesmadesimple.com

    Was all done quick and easy.
     
  19. LeeUK

    Soldato

    Joined: Mar 1, 2008

    Posts: 5,136

    Same. I love how every transaction is listed instantly on my account too unlike old banks where it takes days to show up.

    I will never go back to old school banks full time.
     
  20. Stu999

    Hitman

    Joined: Aug 3, 2015

    Posts: 572

    To be fair, the old banks are copying this now. HSBC now does Starling/Monzo-like notifications although they don't have the spending data that is interesting too (I kept my old account when I switched). The old banks still have the legacy technology problem though and won't be up to Starling / Monzo levels unless they replace their whole technology stack.