Mobile Only Banking

[Homme]

Does anyone have any experience of using banks such as Starling or Monzo etc? Or if there are any others out there that might be worth having a look at?

 

Santander are closing my local branch which is a pain but would have been annoying but manageable had they not closed the branch next to my work as well!

 

So looking for a change but also need to keep in mind i will be looking at mortgages etc over the next year or two and i don't know how well these banks are thought of when it comes to that kind of stuff.

[The People's Chimp]

Monzo is good so far, but I wouldn't use it for DDs and so on, would be best just using it for spending just now. Santander's online app is decent as well, might be worth staying with them as well for your direct debits etc until you get yourself sorted for the mortgage. 

[Ribble]

How often do you actually go into a bank?

 

I'm also with Santander and the only time I've ever been in an actual branch was once when my card got swallowed by an ATM and needed cash and a couple of times when buying my house and I urgently needed a statement to prove source of funds.

 

The ATM keeping my card issue won't be an issue now, I keep a spare account that normally sits empty but if I lose my card again I can simply transfer money over in a few mins and access cash that way until I get a new card through the post.

[SUTOL]

I have a Monzo account.

 

I currently just use it as a petty cash account as it were. Just add £50 to it every so often and use it for usually smallish purchases. But I've also added a bit more to it and used it on night outs etc. A lot less of a concern using it in bars for drinks with a relatively low balance on it rather than my normal current account. 

 

The app is pretty good and it's good seeing the instant debits from your account as you use it.

Also easy to set up payments to others.

[Homme]

Aye i realise how daft my OP was now. Switching banks due to not having a handy branch, then asking about non-branch banking

 

Just pissed off at them as i moved to Santander from RBS for the same reason!

 

Been interested in the mobile banks for a while but not really had a reason to switch. They seem to be getting more popular though.

[Albion]

I shut down all my high street bank accounts and moved everything to Monzo about a year ago and had no regrets or issues since. High street banks are having an awful time just now adjusting to the modern age - shutting down branches before they've got all their digital processes in order is laughable

[Paolo]

6 hours ago, Homme said:

Does anyone have any experience of using banks such as Starling or Monzo etc? Or if there are any others out there that might be worth having a look at?

 

Santander are closing my local branch which is a pain but would have been annoying but manageable had they not closed the branch next to my work as well!

 

So looking for a change but also need to keep in mind i will be looking at mortgages etc over the next year or two and i don't know how well these banks are thought of when it comes to that kind of stuff.

I use Starling entirely, and they are decent. You can now also make deposits via the post office.   Also, they are part of faster payments, and you can make debit card payments to the account from another.  

 

It also has no charges for using your card aboard for purchases or cash withdrawals. 

 

The drawback is,  it is app only, so if you don’t have access to your phone for whatever reason, there is no internet alternative, by even for view access only. 

 

The card is is also a ghastly colour, if that bothers you. 

Edited January 24, 2019 by Paolo

[AlphonseCapone]

I've been with 3 banks now and they've all been fine. I'm not sure how one bank can be better than another really. Everything's online to check, you withdraw money at an atm and any problems you contact them online or phone them. Sure folk have shit experiences for a variety of reasons but a banks a bank these days. 

[Gershwin]

7 hours ago, SUTOL said:

I have a Monzo account.

 

I currently just use it as a petty cash account as it were. Just add £50 to it every so often and use it for usually smallish purchases. But I've also added a bit more to it and used it on night outs etc. A lot less of a concern using it in bars for drinks with a relatively low balance on it rather than my normal current account. 

 

The app is pretty good and it's good seeing the instant debits from your account as you use it.

Also easy to set up payments to others.

 

I use my Monzo account in a similar way, plus I've just started working for a company based in Stockholm and I'll be over there quite a bit so the 'no fees' for the overseas transactions is decent.

[Sooperstar]

16 hours ago, Homme said:

Aye i realise how daft my OP was now. Switching banks due to not having a handy branch, then asking about non-branch banking

 

Just pissed off at them as i moved to Santander from RBS for the same reason!

 

Been interested in the mobile banks for a while but not really had a reason to switch. They seem to be getting more popular though.

So you're pissed off about branches that you don't use closing? Seems reasonable.

[Homme]

1 hour ago, Sooperstar said:

So you're pissed off about branches that you don't use closing? Seems reasonable.

 

That's a strange conclusion to come to from my post.

[Captain America]

In the same boat as they are closing the Lanark ( branch closest to me ) and Bathgate ( closest to my work) but I am not really in the bank that often so when needs be can jump into Livingston ( which I believe is staying open)

 

I am happy enough doing this through the mobile ap so not considering moving as of yet.

 

 

 

[His name is]

What's the benefit of online only banks? Higher interest on savings etc? 

[Smack]

Dragging this one up. Anyone got any reports of positive or negative experiences since this was originally posted? 

 

I got a Starling account so I could pay small amounts (i.e contactless) with no fees and a fair exchange rate whilst abroad. Made life so much easier and makes the RBS approach to foreign currency transactions seem antiquated. 

 

Thinking about just switching everything over to Starling now. Anyone got any experience of the 7 day switch thing? Does it really do everything it promises like get your wages and payments transfered over? Any pitfalls to look out for? 

[graygo]

1 hour ago, Smack said:

Dragging this one up. Anyone got any reports of positive or negative experiences since this was originally posted? 

 

I got a Starling account so I could pay small amounts (i.e contactless) with no fees and a fair exchange rate whilst abroad. Made life so much easier and makes the RBS approach to foreign currency transactions seem antiquated. 

 

Thinking about just switching everything over to Starling now. Anyone got any experience of the 7 day switch thing? Does it really do everything it promises like get your wages and payments transfered over? Any pitfalls to look out for? 

 

I literally got a Starling card through the post this morning for the same reasons that you did so will be interested in any answers.

Pretty sure the account switching service will work as well as promised, it's a service that most banks have signed up to.

[hughesie27]

2 hours ago, Smack said:

Dragging this one up. Anyone got any reports of positive or negative experiences since this was originally posted? 

 

I got a Starling account so I could pay small amounts (i.e contactless) with no fees and a fair exchange rate whilst abroad. Made life so much easier and makes the RBS approach to foreign currency transactions seem antiquated. 

 

Thinking about just switching everything over to Starling now. Anyone got any experience of the 7 day switch thing? Does it really do everything it promises like get your wages and payments transfered over? Any pitfalls to look out for? 

I switched account a couple years ago and it's pretty fail safe. I think you may have 1 day where the switch actually happens where you are in a bit of an unknown limb whether your old or new card is usable but that would only be a problem if you were trying to use your card at that specific time. I may even be talking nonsense tbh there.

 

Can confirm all your DDs and SOs do transfer over though, I think I had to change my wages with my employer directly however for 3 years after switching any money sent to the old account is automatically sent to the new. My GF also received a letter from her bank to tell her to get my updated bank details when she sent money to my old account.

 

Regarding the Currency transaction fees I just use a Revolut card. Think it does the same thing that you are after.

[Riddley Walker]

I have a Monzo which I use for all my spending. All my DDs etc. come out Santander and I transfer all spending money to Monzo. 

 

Really like it, can see and track what I spend in real time, as well as having a side pot which rounds every transaction up. Sometimes builds up to a couple hundred then I can dip into it at the end of the month if I'm skint. 

 

Also use it for a joint account which I have with my other half, which is solely used for a monthly food budget and long term savings. 

 

Been one of the best things I've done financially, the app is a million times more user friendly than standard banking apps as well. 

[OmiyaHearts]

I've been using Monzo for over a year. Have my account, my wife has one and we also have a joint account. I use it for all my banking , Standing Orders, DD's etc. Most of my mates are also using it, so it's easy to move money about and transfer some cash if a friend needs a wee sub.

 

I really like banking with them and have had no issues at all. The app is good for keeping track of bills and I like having pots to put savings or holiday money in, so really helps with budgeting. I also got their assistance getting flights refunded and they were prompt and effective. 

Edited August 21, 2020 by OmiyaHearts

[IronJambo]

Mortgage lenders don't care who your bank with. They're only interested in what you earn and what you spend.

 

I'm not for exclusive online banking yet, I've often got a need to pay cash in. I keep an account with NatWest as my main account and one with Santander for my sidelines. Mortgage lenders don't get to see statements from my santander account. I then make sure I've got different credit cards on me or in my Google wallet so I'm covered if a particular system goes down. Eg. I keep a visa, Mastercard and amex to hand. The central banking system breaks them all of course.

[kila]

I've been using Monzo for years. Makes managing money so much easier when it is instant notifications, balance etc,

 

The coin pot is great too.

[Captain Sausage]

Got Monzo and been using it for almost a year. Was working in Paris midweek every week so it was great as it wasn’t charging me anything to use my card as normal. 
 

I like being able to see exactly what I’ve spent - the security seems tighter than my mainstream bank too. Anytime it’s used online I get an instant heads up, and any new device requires authentication prior to acceptance of the card. 
 

My wife has one now, the joint account feature is great and the ease of transferring money is really helpful. 

 

All in all, 9/10. (Minus one for the absolutely disgusting orange card). 
 

 

[davemclaren]

1 hour ago, IronJambo said:

Mortgage lenders don't care who your bank with. They're only interested in what you earn and what you spend.

 

I'm not for exclusive online banking yet, I've often got a need to pay cash in. I keep an account with NatWest as my main account and one with Santander for my sidelines. Mortgage lenders don't get to see statements from my santander account. I then make sure I've got different credit cards on me or in my Google wallet so I'm covered if a particular system goes down. Eg. I keep a visa, Mastercard and amex to hand. The central banking system breaks them all of course.

When mortgage Lenders do a credit check on you they will see the Santander account anyway. I use first direct for my banking which means, on the very odd occasion I need to take out larger amounts of cash or pay in a cheque I can pop into the HSBC branch on princes street. 

[IronJambo]

1 hour ago, davemclaren said:

When mortgage Lenders do a credit check on you they will see the Santander account anyway. I use first direct for my banking which means, on the very odd occasion I need to take out larger amounts of cash or pay in a cheque I can pop into the HSBC branch on princes street. 

Yep, they'll see it will probably see the decent balance in it. They won't see thousands of pounds bouncing between me and bookmakers/betting exchanges though and they won't see semi regular 4 figure cash deposits either.

 

Statements haven't been asked for that account in my last 3 mortgage applications (or ever).

[Alan_R]

I use nationwide, great rates on loans and mortgages. Excellent customer service when ive had to use them.

 

I can set up the £100 bonus (like the tv advert) its genuine cash in your account when you switch to them. No gimmicks.

 

Their app is excellent . Can send direct messages to customer services and manage everything from app.

 

Plus they still have branches should you really need them. I done my last mortgage by video call with them.

 

Would recommend. And well... £100 is a £100. Win, win.

 

Oh meant to say great foreign exchanges rates. Got a better rate withdrawing out cash machine in prague and poland than i wouldve exchanging over here.

Edited August 21, 2020 by Alan_R

[His name is]

Been using starling for a while now, no issues. I like the savings spaces where you can put money into different folders.

[maroondevo52]

I've used Starling for a few years now, never had any problems though don't have any dd's or the like.

Lots of banks closing branches now, at my work I used to have 8 Santanders now down to 2, a lot of them closed as they used to be Alliance & Leicester or Abbey branches and it ended up you could have 2 Santanders only yards apart. TSB I have 6 lost 2 recently.

A lot of stuff going online now, we used to collect cheques every night but no longer as it's all digital.

Nationwide seem to be doing ok regarding branches staying open.

[graygo]

4 hours ago, Alan_R said:

I use nationwide, great rates on loans and mortgages. Excellent customer service when ive had to use them.

 

I can set up the £100 bonus (like the tv advert) its genuine cash in your account when you switch to them. No gimmicks.

 

Their app is excellent . Can send direct messages to customer services and manage everything from app.

 

Plus they still have branches should you really need them. I done my last mortgage by video call with them.

 

Would recommend. And well... £100 is a £100. Win, win.

 

Oh meant to say great foreign exchanges rates. Got a better rate withdrawing out cash machine in prague and poland than i wouldve exchanging over here.

 

I just got a Starling card because Nationwide's non Sterling transaction fees are horrendous. Just back from Poland and as here, everybody wants card payments and we got hit every time at 2.99%, Starling has no fee.

[Alan_R]

2 hours ago, graygo said:

 

I just got a Starling card because Nationwide's non Sterling transaction fees are horrendous. Just back from Poland and as here, everybody wants card payments and we got hit every time at 2.99%, Starling has no fee.

 

That recent? Saying that i usually withdraw. (Use cc for any card transactions)

 

Travelled all over europe using my nationwide card to withdraw and always had a better rate than using a bureau de change.

 

Cant really comment on the card payment fees as dont really use my debit card for that abroad. Odd occassion ive used it though always selected local currency and found it good.

[will-i-am-a-jambo]

2 hours ago, graygo said:

 

I just got a Starling card because Nationwide's non Sterling transaction fees are horrendous. Just back from Poland and as here, everybody wants card payments and we got hit every time at 2.99%, Starling has no fee.

 

It was this exact reason why l got a Starling card. A couple of years ago My mate and l both went to Israel for the Scotland game, my mate used a Monzo card, no fees, l used Nationwide and got stung for loads of fees. I decided on the Starling card as there was no cash limit abroad whereas l think Monzo cap it at £250. That my have changed since l last checked though. 

Edited August 21, 2020 by will-i-am-a-jambo

[graygo]

13 minutes ago, Alan_R said:

 

That recent? Saying that i usually withdraw. (Use cc for any card transactions)

 

Travelled all over europe using my nationwide card to withdraw and always had a better rate than using a bureau de change.

 

Cant really comment on the card payment fees as dont really use my debit card for that abroad. Odd occassion ive used it though always selected local currency and found it good.

 

2 weeks ago mate, used to get fee free foreign transactions with Nationwide but not anymore. Having said that we found out afterwards that we had something like £800 available as fee free on our Nationwide credit card so should have used that. 

 

 

[graygo]

6 minutes ago, will-i-am-a-jambo said:

 

It was this exact reason why l got a Starling card. A couple of years ago My mate and l both went to Israel for the Scotland game, my mate used a Monzo card, no fees, l used Nationwide and got stung for loads of fees. I decided on the Starling card as there was no cash limit abroad whereas l think Monzo cap it at £250. That my have changed since l last checked though. 

 

£200 a month then 3%, that's why we went with Starling and not Monzo.

[will-i-am-a-jambo]

2 minutes ago, graygo said:

 

£200 a month then 3%, that's why we went with Starling and not Monzo.

 

Ah ok thanks l couldn't remember what the limit was but lm glad l don't have to worry about that. My gf has a Monzo card and she swears by it. She doesn't go abroad very often though tbf.

[davemclaren]

I use a Santander Zero credit card abroad as it has zero fees. Had it for years. 

[graygo]

11 minutes ago, davemclaren said:

I use a Santander Zero credit card abroad as it has zero fees. Had it for years. 

 

For cash withdrawals?

[davemclaren]

7 minutes ago, graygo said:

 

For cash withdrawals?

I have used it for that as well on occasion but mainly purchases as you get interest charged on cash withdrawals. 

[graygo]

4 minutes ago, davemclaren said:

I have used it for that as well on occasion but mainly purchases as you get interest charged on cash withdrawals. 

 

That's what I thought, I suppose you could clear it online same day to avoid charges but that's another reason why Starling/Monzo are good. No charges on purchases or cash withdrawals.

[davemclaren]

7 hours ago, graygo said:

 

That's what I thought, I suppose you could clear it online same day to avoid charges but that's another reason why Starling/Monzo are good. No charges on purchases or cash withdrawals.

You can do that same day transfer. 

[jack D and coke]

I’ve been using Starling, Monzo, Revolut for about a couple of years now. 
Starling imo is the best one. Use PO’s for cash deposits and that’s free whereas Monzo charges for any cash pay ins. It’s only £1 mind but little things. 
Starling gets the nod here. 

[Alan_R]

13 hours ago, graygo said:

 

2 weeks ago mate, used to get fee free foreign transactions with Nationwide but not anymore. Having said that we found out afterwards that we had something like £800 available as fee free on our Nationwide credit card so should have used that. 

 

 

Googled after. Not as favourable abroad as they used to be (i was only away end of last year)

 

Like u i have loads built up fee free anyway.

 

Dont think il be doing much travelling in near future anyway 😞

[Smack]

Update to this. It's worth noting that cash withdrawals are limited to £600 per day with Starling. And even then that's £300 from a cash machine and £300 from the Post Office. Luckily I kept my old RBS account open so was able to transfer money into that to withdraw the big bucks.

 

I won't be taking any questions on why I needed so much cash.

Edited October 26, 2020 by Smack

[davemclaren]

9 minutes ago, Smack said:

Update to this. It's worth noting that cash withdrawals are limited to £600 per day with Starling. And even then that's £300 from a cash machine and £300 from the Post Office. Luckily I kept my old RBS account open so was able to transfer money into that to withdraw the big bucks.

 

I won't be taking any questions on why I needed so much cash.

Drug dealer type post. 😎

[Der Kaiser]

I imagine physical cash is only really useful these days when buying something expensive and asking....Any discount for paying in cash?

 

 

[¼½¾]

13 minutes ago, davemclaren said:

Drug dealer type post. 😎

With a name like that? Never!

[davemclaren]

3 minutes ago, Lemongrab said:

With a name like that? Never!

🤣🤣

[Smack]

35 minutes ago, davemclaren said:

Drug dealer type post. 😎

Doubt many drug dealers are withdrawing cash. 😁 Trying to pay it in is where their problems would stem from.

[davemclaren]

5 minutes ago, Smack said:

Doubt many drug dealers are withdrawing cash. 😁 Trying to pay it in is where their problems would stem from.

👍

[manaliveits105]

never had a problem with Bank of Scotland online and on the odd occasion got a cheque you just take a photo of it and goes straight into account

[Smack]

9 minutes ago, manaliveits105 said:

never had a problem with Bank of Scotland online and on the odd occasion got a cheque you just take a photo of it and goes straight into account

Yeah, I was the same with RBS but the Starling account was perfect for spending abroad with no fees and a good conversion rate. The app is a lot 'cleaner' than traditional banks too. First problem I've encountered is trying to withdraw my high class hooker cash.