Monzo/Starling Banking/Revolut

nitram100 · 3 Aug 2021 at 08:19

Yeh unfortunately it was the only way royal mail were gonna refund me, glad Starling made it super easy for me to get my money!

Freakbro · 3 Aug 2021 at 08:21

Chqs are a pita, but the mobile banking app has made it a lot easier. I paid one into Lloyds using their app last Friday

Martynt74 · 3 Aug 2021 at 08:24

Freakbro said:
Chqs are a pita, but the mobile banking app has made it a lot easier. I paid one into Lloyds using their app last Friday

Yeah, i think most banks offer this now. Makes life so much better.

LiE · 3 Aug 2021 at 08:26

Martynt74 said:
Yeah, i think most banks offer this now. Makes life so much better.

Not Monzo last time I checked you have to send it in the post :cry:

dlockers · 3 Aug 2021 at 08:26

COOP (ironically) is still lagging behind. I don't think RBS do it either? But the one time I've had to use it, I have my HSBC app which does it. I really should close some of the current accounts that only have a quid in...

Freakbro · 3 Aug 2021 at 08:28

I couldn't see it on the Nationwide app either, which is why I used the Lloyds one.

Martynt74 · 3 Aug 2021 at 08:30

dLockers said:
COOP (ironically) is still lagging behind. I don't think RBS do it either? But the one time I've had to use it, I have my HSBC app which does it. I really should close some of the current accounts that only have a quid in...

Weird, My Natwest one allows it so i'd have assumed RBS would too given they're tend to mirror each other these days in package options etc.

I know FD and Santander allow it too.

Surprised with Monzo though as i thought they were always quick to offer app features. I've not used them though.

Jimbeam3678 · 3 Aug 2021 at 08:31

LiE said:
No but they allow you to have multiple accounts. I have a bills account and a spending account. You can however only tie your card to one account at a time.

Sure we have discussed this before, but you need to pay £2 a month for that extra account don't you ?

dlockers · 3 Aug 2021 at 08:33

Martynt74 said:
Weird, My Natwest one allows it so i'd have assumed RBS would too given they're tend to mirror each other these days in package options etc.

I know FD and Santander allow it too.

Surprised with Monzo though as i thought they were always quick to offer app features. I've not used them though.

Ah just spotted it. It has a "new" icon next to it, so must have been a while since I last looked (RBS).

Freakbro · 3 Aug 2021 at 08:34

dLockers said:
I really should close some of the current accounts that only have a quid in...

I've noticed some of the newer players in the banking market have started to pull out, like M&S and Tesco. After that rush to try and tempt everyone to open current accounts, with all the interest and reward offers, the small players have ended up with loads of people like you (and me) who have dormant current accounts that end up costing them money.

I think it said with Tesco, only 13% of their customers used their current account as a main account, and as such the losses in running the bank were mounting up, so they are pulling the plug this November iirc

LiE · 3 Aug 2021 at 08:35

Jimbeam3678 said:
Sure we have discussed this before, but you need to pay £2 a month for that extra account don't you ?

Yea. Which I don’t mind. Monzo would offer it for free no doubt and wonder why they don’t make any money…

Sho · 3 Aug 2021 at 08:52

Looks like i need to move my large amount cash from my Monzo account. Not looking good for them.

Deleted member 77746 · 3 Aug 2021 at 08:54

Sho said:
Looks like i need to move my large amount cash from my Monzo account. Not looking good for them.

Don't panic pull, they still will have funds for peoples money in there.

mid_gen · 3 Aug 2021 at 08:58

LiE said:
No but they allow you to have multiple accounts. I have a bills account and a spending account. You can however only tie your card to one account at a time.

I didn't realise you could do multiple joint accounts, handy!

dlockers · 3 Aug 2021 at 09:10

mid_gen said:
I didn't realise you could do multiple joint accounts, handy!

They charge £2 a month which IMO is not worth it.

ChrisD. · 3 Aug 2021 at 09:22

Sho said:
Looks like i need to move my large amount cash from my Monzo account.

Why? It's FSCS protected. Monzo also will not touch your money.

Jokester · 3 Aug 2021 at 09:23

Crap, my business bank account is with Monzo, can see grief in the future over it now.

LiE · 3 Aug 2021 at 09:24

dLockers said:
They charge £2 a month which IMO is not worth it.

I find it worth it for separating my finances. Sure it would be better if it was free, but I don't mind paying a small amount for the added benefit. You can virtual switch cards between your accounts which is cool.

LiE · 3 Aug 2021 at 09:24

Jokester said:
Crap, my business bank account is with Monzo, can see grief in the future over it now.

Starling business account is really good, my wife runs her business using it.

dlockers · 3 Aug 2021 at 09:27

LiE said:
I find it worth it for separating my finances. Sure it would be better if it was free, but I don't mind paying a small amount for the added benefit. You can virtual switch cards between your accounts which is cool.

I can see why some may value it - I am just totally against paying for financial services. I give them more than enough opportunity to monetise 'me' through the data they see, the cash they sit on. This is in the same camp as the "GoHenry" proposition designed to teach kids the value of money, yet costs £3 a month or something

Maccy · 3 Aug 2021 at 09:54

Jokester said:
Crap, my business bank account is with Monzo, can see grief in the future over it now.

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