Monzo/Starling Banking/Revolut

Deleted member 77746 · 7 Dec 2021 at 19:56

I have started to freeze my accounts unless I need them, direct debit still come out but it just means I have to unfreeze my accounts to be used again.

Not liking this random fraud that's doing the rounds lately.

fredwi · 8 Dec 2021 at 14:04

Bouton Aide said:
I have started to freeze my accounts unless I need them, direct debit still come out but it just means I have to unfreeze my accounts to be used again.

Not liking this random fraud that's doing the rounds lately.

man that is effort every time you want to make a payment

Deleted member 77746 · 8 Dec 2021 at 14:06

fredwi said:
man that is effort every time you want to make a payment

I don't make regular payments except a few direct debits. My accounts are locked until I want to use them.

Think of it like this. Is it better to lock the account and unlock when you want to use it or spend an hour on the phone or however long it takes to get a fraud investigation filed and investigated?

Semple · 8 Dec 2021 at 14:31

robfosters said:
Do banks like Monzo use internal credit scoring for things like overdrafts and loans?

Also, are these banks ever likely to launch their own credit cards in the future?

I would have thought so for credit products, whom they use though - not a clue.

fredwi said:
man that is effort every time you want to make a payment

Actually i think it's a great idea for cards that are rarely used. IIRC you can also block gambling transactions - which a good portion of these fraudulent spends seem to be on. So if you're never going to use the card for gambling, then makes sense to disable it.

dr_volki · 15 Dec 2021 at 15:06

my starling account got locked. Questioning a £250 transfer from my grandmother asking for screenshots of calls / chat logs.
good luck it's all in german. :cry:

my account isn't even a month old yet, but questioning these kinds of transaction makes me think i might move somewhere else asap.

Goodie · 15 Dec 2021 at 15:14

dr_volki said:
my starling account got locked. Questioning a £250 transfer from my grandmother asking for screenshots of calls / chat logs.
good luck it's all in german.
my account isn't even a month old yet, but questioning these kinds of transaction makes me think i might move somewhere else asap.

Guessing if it’s from abroad it’s triggered something, ive been with them for years now and never had a single issue.

mid_gen · 15 Dec 2021 at 15:19

dr_volki said:
my starling account got locked. Questioning a £250 transfer from my grandmother asking for screenshots of calls / chat logs.
good luck it's all in german.
my account isn't even a month old yet, but questioning these kinds of transaction makes me think i might move somewhere else asap.

Opening a new account and taking overseas payments is a likely flag for fraud, sadly.

I've got 3 Starling accounts including EUR that I moved large sums around internationally with......only had one issue with a payment and that was resolved easily over chat.

dr_volki · 15 Dec 2021 at 15:20

Goodie said:
Guessing if it’s from abroad it’s triggered something, ive been with them for years now and never had a single issue.

apparently saying it's a xmas gift for the family wasn't good enough. :rolleyes:

they questioned 2 other transactions, which have been dealt with. these were higher value, but the £250 is still not resolved meaning my account is locked and unusable now.

tom_e · 16 Dec 2021 at 12:53

Just had the option appear in my Monzo app to adjust my contactless limit/limit before PIN is required.

You can't go over the standard £100/£200 limits but nice if you want to turn the limit down.

Semple · 16 Dec 2021 at 12:56

tom_e said:
Just had the option appear in my Monzo app to adjust my contactless limit/limit before PIN is required.

You can't go over the standard £100/£200 limits but nice if you want to turn the limit down.

That's quite handy, especially with the increased contactless limits.

I've noticed on my android phone that i don't even need to unlock to pay with Monzo (may be the same for other banks, only have Monzo setup), i just need to switch the screen on - if it's showing the keypad for unlock/FPS unlock then it's usable for paying. Which seemed a bit insecure to me.

Diddums · 16 Dec 2021 at 13:26

Semple said:
I've noticed on my android phone that i don't even need to unlock to pay with Monzo (may be the same for other banks, only have Monzo setup), i just need to switch the screen on - if it's showing the keypad for unlock/FPS unlock then it's usable for paying. Which seemed a bit insecure to me.

I use this every day when entering or exiting the tubes, it's quite handy but as you say very susceptible to abuse or fraud. I only keep a limited amount of money on my Monzo so for me the convenience outweighs the risk of being defrauded, and that's before factoring in whatever protections Monzo has in place.

Semple · 16 Dec 2021 at 13:42

Diddums said:
I use this every day when entering or exiting the tubes, it's quite handy but as you say very susceptible to abuse or fraud. I only keep a limited amount of money on my Monzo so for me the convenience outweighs the risk of being defrauded, and that's before factoring in whatever protections Monzo has in place.

Good to know, i wasn't sure if it was just the new pixel 6 or if my old phone did the same. I'm pretty certain with apple pay you have to unlock to use contactless.

With FPS in most phones these days, it wouldn't bother me too much, or take any longer to have to unlock for the contactless to work.

the-evaluator · 16 Dec 2021 at 13:49

Semple said:
I'm pretty certain with apple pay you have to unlock to use contactless.

Yep, you do. The possible exception is for express transit mode where you need to specifically enable it and then nominate a card. You can then use your iPhone to get through ticket barriers on certain transit systems without needing to unlock the phone. I have it configured so that I don't have to unlock my iPhone when going through a ticket barrier on the London Underground.

Stu999 · 16 Dec 2021 at 19:43

Was just reading the updated Ts&Cs for Starling (yes, I’m boring) and one of them is if you use abusive language, for instance in payment references, you can have your account suspended

the-evaluator · 17 Dec 2021 at 07:31

It's the same for Paypal and probably others. A friend once sent a payment using 'Cottaging' as the reference and his account got suspended

Macky · 17 Dec 2021 at 08:17

Diddums said:
I use this every day when entering or exiting the tubes, it's quite handy but as you say very susceptible to abuse or fraud. I only keep a limited amount of money on my Monzo so for me the convenience outweighs the risk of being defrauded, and that's before factoring in whatever protections Monzo has in place.

I do the same actually. Essentially "air-gapping" my primary account.

Stu999 · 17 Dec 2021 at 12:48

the-evaluator said:
It's the same for Paypal and probably others. A friend once sent a payment using 'Cottaging' as the reference and his account got suspended

When I used to work in a bank one of my colleagues was looking at a bank statement and a guy had loads of entries (no pun intended) for ‘butt plugs’ and stuff but it was clearly him and his mates larking around.

KIA · 17 Dec 2021 at 17:32

Semple said:
Good to know, i wasn't sure if it was just the new pixel 6 or if my old phone did the same. I'm pretty certain with apple pay you have to unlock to use contactless.

With FPS in most phones these days, it wouldn't bother me too much, or take any longer to have to unlock for the contactless to work.

Tip: For added security, you can set up your phone so that it must be unlocked to complete an NFC transaction.
To turn on this setting:

Go to Settings

.

Tap Connected devices

Connection preferences

NFC.

Turn on Require device unlock for NFC.

https://support.google.com/pay/answer/7644132?hl=en-GB&co=GENIE.Platform=Android

Semple · 17 Dec 2021 at 19:23

KIA said:
https://support.google.com/pay/answer/7644132?hl=en-GB&co=GENIE.Platform=Android

Ahhh awesome, seems this isn't very widely known.

Thanks!

ChrisD. · 29 Mar 2022 at 09:57

I've had two random bank deposits into my Monzo account, one from a nursing company I've never heard off and another from a person I've never heard of. I'm a bit perplexed why I've had these?

Also, I had an email from Chase, their instant access saver now pays 1.5% which isn't bad.