Monzo/Starling Banking/Revolut

Maccy said:
I'm actually not sure tbh, I'm not a heavy business account user and usually receive one inbound payment per month and make a few outbound payments, plus direct debits. Monthly fees are anything from £1.50-£2.20.
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So like there's not a monthly charge there then.

Tide are a good shout if that's right then. They were one of the first ones around and have everything you would need really.
 
LiE said:
I didn't see anything in the policy book about vehicle age - https://www.nationwide.co.uk/-/medi..._Breakdown_and_Recovery_Assistance_Policy.pdf
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To be honest I haven't read the policy over, it's just usually RAC and AA won't cover my Civic and I have to use Green Flag. My mate used them and broke down in Belgium and they were excellent so no need to change for me.

I've gone with Monzo Premium, part laziness and part I want to support Monzo, it's made my day to day banking easier and I use it as my main account. My metal card turned up this morning.
 
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
 
Conscript said:
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
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Out of interest, what's your concern about not having high street stores?
 
Basher said:
Out of interest, what's your concern about not having high street stores?
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To add to this, my main bank for many years was Smile - they are online only and don't have high street stores.
I now only use Starling and my banking life is much much easier - never once had an issue that required a high street store or a feature that didn't exist.
 
Basher said:
Out of interest, what's your concern about not having high street stores?
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I don't really know :p To be honest, can't even remember the last time I needed to use a branch.
I think what I mean is, a "more established" bank. I worry about things like mortgage applications, where you might be asked who you bank with and how long, and I wonder if not having a traditional bricks-and-mortar bank account might be a factor (I did say I might be overthinking!).

I also sometimes worry about the app based authorisation. It's a great idea, but there's been a couple of times where I've been paying for stuff at places with no phone signal, using my Monzo card, and wondering what would happen if it should suddenly decide the transaction needs app authorisation. I know these are silly things to worry about as I usually carry a credit card as well. Would just like to know if anyone has come up with any other issues as a result of using Monzo only.
 
Conscript said:
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
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I switched from First Direct back in February and have no regrets.
 
Conscript said:
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
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Yep been using it since the start of the year and Starling before that for a few months.

No issues here, I do have a normal Natwest account that I opened on the very rare off chance I need to deposit/withdraw large amounts of cash as it means I can do it at the PO 30 seconds away rather than at a payzone(?) store and get charged.

Apart from that all my banking is done through Monzo.
 
Conscript said:
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
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Also interested in this, is there a way to switch my current account over but keep my Natwest account open?
 
tom_e said:
No, using the switch service closes the old account unfortunately. The only option is manually changing everything over.
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Not quite true - You can do a partial switch. This moves your balance, regular payments etc. to another bank but leaves the account open.

You usually can't do that online though and needs a call to the 'incoming' bank.
 
Conscript said:
Any Monzo users here who use it as their sole, primary current account?

I've had a Monzo card since the start of the year and have been using it as my primary account, but I kept my long term HSBC current account for most bills, and getting my salary. I was then moving money into the Monzo each month for every day use.
I want to start using the Monzo exclusively, and the easiest way to do this is to do a full current account switch - but this also means it will close the HSBC account (as far as I know). Perhaps I'm overthinking, but part of me wonder if it's a good idea to move to a bank with no high street stores. Anyone else made the leap to Monzo only?
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Yes, I moved completely to Monzo back in March and I haven't missed not having a high street branch at all.
 
ChrisD. said:
I switched from First Direct back in February and have no regrets.
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tom_e said:
Yep been using it since the start of the year and Starling before that for a few months.

No issues here, I do have a normal Natwest account that I opened on the very rare off chance I need to deposit/withdraw large amounts of cash as it means I can do it at the PO 30 seconds away rather than at a payzone(?) store and get charged.

Apart from that all my banking is done through Monzo.
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Reppyboyo said:
Monzo has been my sole account since January and Starling for a year before that.

Cant say I've had any issues with either, all good to me.
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Feek said:
Yes, I moved completely to Monzo back in March and I haven't missed not having a high street branch at all.
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Cheers guys. Once I've got my salary switched over and know that is going in correctly, I may well do a full switchover.

Pez said:
Not quite true - You can do a partial switch. This moves your balance, regular payments etc. to another bank but leaves the account open.

You usually can't do that online though and needs a call to the 'incoming' bank.
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Unfortunately, Monzo have stopped doing this - that is why I asked the question, I wanted a way to switch over all my direct debits and keep the HSBC account open, if unused, just to have it as a backup.
The partial switch would have been ideal, but they have specifically said they will only be doing full switches since September 2018:

https://community.monzo.com/t/we-re-turning-off-partial-current-account-switches-from-today/46616

In the meantime, I have started switching stuff manually, but there's still quite a few direct debits - car tax, council tax, etc - for which if you want to change the bank account, they just forward you to the current account switching service.
 
I made the switch about 3 months ago using the switching service and it worked perfectly. I wanted to manually move everything so I could keep my high street bank just in case, however quickly found it's quite a pain to change direct debits to a different account so just pressed the switching button in Monzo and hoped for the best!
They tell you when it will be completed and you get a few notifications along the way as each direct debit switches over. I think it was a couple of days later I got the remaining balance from my high street bank transferred as part of the switching process, however I already transferred the bulk of it manually as I was a bit paranoid!

I should have done it much sooner. It's so much easier having all the direct debits paid from a pot that I fill on pay day using the salary sorter.
The only annoying thing is payments like Netflix/Spotify which are not direct debits have to be paid from the main pot so have to mentally keep those available.
 
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