Both apps take a chat-first approach to customer service, via a customer service tab. I hope that they can sustain it! You can get 0.5% AER on balances up to £2,000 or 0.25% on balances over £2,000 and up to £85,000. Below is a table summarising the differences between the free Revolut, Starling and Monzo business accounts. Monzo charges 3% on cash withdrawals you make at any ATM abroad, after a limit of £200. It’s also, since it was acquired by Clydesdale and Yorkshire Bank last year, part of the sixth-biggest banking group in the UK, and balances of up to £85,000 are protected by the Financial Services Compensation Scheme. I prefer the Monzo app so that’s my main bank. Mainly use them for foreign card payments or trips abroad spending/withdrawals. A Comparison of N26 Vs Revolut in Ireland A Summary of N26 . Unlike Monzo, Starling pays an interest … Monzo Bank Limited is a company registered in England and Wales (No. I used the uswitch service over Xmas to close my Monzo account and move over to Starling. I find Monzo app to be more informative and useful for a day-to-day current account tasks, although Starling has some cool features as well. Starling and Monzo interest rates. I believe Monzo charge after the first £200 or something like that. Service-wise they appear to both be great. N26 is up against two main rivals in the UK – Starling Bank and Monzo. monzo overdraft reddit Posted on August 2, 2020 by Online bank Monzo reveals the most common cons, from stolen cards to student ‘mules’Students are selling their bank accounts – giving someone else their account details such as logons – for as little as £50 to £100, often as they are finishing university and heading abroad for a period. One for transport costs, one for eating out, one for tickets and tourist attractions. It lets you set savings goals and even offers interest on your balance at 0.05% up to balances of £85,000. The Monzo community and transparency is also a lot better than Starling in my opinion. Customer service takes a modern approach overall, with both using emojis and an almost overly friendly disposition to “soften” the approach, but for day to day queries, chat is a useful way to solve simple queries without moving from t… So I used both of them, just found the Monzo app a lot cleaner and more useful for myself. Enjoy peace of mind with extensive phone and travel insurance, interest and much more. One of the main reasons I applied for an account with Starling Bank is their free foreign ATM withdrawals whilst travelling. N26 vs Monzo vs Starling Bank. Revolut vs Monzo vs Starling: the verdict. Unfortunately, with my other online accounts (Revolut & Monzo) there is a £200 withdrawal limit per month and going over this will incur a 2% (Revolut) and 3% (Monzo) withdrawal fee. As it takes a while to pull together, so the latest stats available are for the final quarter of 2019 (between 1 October and 31 December). Also consider a Tandem credit card, it's free for overseas purchases and will give you 0.5% cashback, too. I've had friends try to get me into it a couple times to no avail. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the regulated by the Financial Conduct Authority and the PRA. Pretty much all my friends/people I know have Monzo, makes everything so convenient. Starling had put a lot of time and effort into launching their business account offering (something Monzo have shown no interest in), and their current account had stayed pretty static. No fees on overseas withdrawals. Even if everything works fine it allowed me to budget by splitting my spending money across 3 accounts. Service-wise they appear to both be great. Might still try it and see if it goes through its so quick. FX limits way better. The main thing for me is the budgeting and money management side of things, it’s amazing. Monzo, Starling and Revolut all do roundups, an easy way to bolster savings by rounding up all transactions to the nearest pound, putting the spare change into a pot. TransferWise, Monzo and Starling have also collectively received 60 complaints over the same time period. I have a starling account for holidays. Good transfer rates, no charges, no charges for up to £200 a month cash withdrawals abroad, 3% charge after that, … No expense has been spared here, and in terms of CSR, they’re outspoken about their refusal to partner with organisations that ‘use excessive power’ to promote bad behaviour or make profit via harmful activity (e.g. But if you ever go on holidays, starling is superior becuase you get to withdraw, £ 300 equivalent of cash every day, while Monzo limits you to £200 per month! That was one of those face palm moments for me! Comparison: Starling vs Monzo. Has happened to a handful of unrelated people around me, all have been using monzo for years. I prefer their app and the round up and pots are nice features to 'forget' about money. Revolut's closest competitors when it comes to business banking are Monzo and Starling. If both Starling & Monzo allow free card usage abroad (for now) but Monzo will only allow £200 as a free withdrawal then that won't really work for a family of 5. Starling. If Starling pull a Monzo and reduce the benefits when they get a certain level of custom, I'll sack them off too but for now they are great. However £200 might be enough. Starling has a reasonably cheap overdraft APR while Monzo charges a fixed cost of going below the line which can be expensive for small and long overdrafts. In case of loss, freezing them is easy and fast, just access the app … and press a button. Starling is definitely a good option for foreign cash withdrawals. The main difference between the two cards is the Starling’s ability to withdraw an unlimited amount of money from foreign ATMs without charging a penny, while Monzo is at a cap of £200 per month. Nicer card. Monzo don't charge if you balance is back above £0 again by the following midnight and offer a £20 'buffer' overdraft for free as standard though. N26 now has more than 5 million customers across Europe and the USA, with almost 200,000 in Ireland. Nothing else really separates them IMO. Anything else anyone can suggest that makes one better than the other? (That's defo a benefit if not). Monzo, the U.K. challenger bank, is officially launching business bank accounts today, after an extensive trial period over the last 12 months that saw … But yeah, I see your point about a cash back credit card. Starling Bank is the only branchless bank to offer interest on current account balances. Monzo Premium: Banking that makes a statement Turn heads with our white metal card, made from steel. The seemingly unstoppable rise of the challengers continued in the last quarter of 2018, with Monzo and Starling gaining almost 10,000 current account customers. Unlike Revolut, Monzo and Starling both have a full UK banking licence and your deposits are covered by the FSCS. Ah this was a worry as it was only a couple of months ago. cigarette companies). Starling have their marketplace which I really like and monzo have integrated with ifttt which seems really useful. Oliveira GH, Dupont M, Naftel D, Myers SL, Yuan Y, Tang WH, Gonzalez-Stawinski G, Young JB, Taylor DO, Starling RC. Starling, simply due to no limit on free withdrawals abroad. The first thing you’re likely to notice about Starling is the beautiful branding, interface, and UX design. Monzo offers higher rates, but only if you open a separate savings account with one of its partners. Starling has a reasonably cheap overdraft APR while Monzo charges a fixed cost of going below the line which can be expensive for small and long overdrafts. I did all the same research in Aug between the two, I wanted a card mostly for spending insights but also for spending abroad and went with Starling and have never been happier with a bank before. Nowhere near enough for me. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. I moved to Starling and they have been great. Increased need for right ventricular support in patients with chemotherapy-induced cardiomyopathy undergoing mechanical circulatory support: outcomes from the INTERMACS Registry (Interagency Registry for Mechanically Assisted Circulatory Support). Source: https://monzo.com/blog/2018/01/04/atm-fees-january/. Nationwide's Select credit card is also free for overseas purchases, and might be a nice low hassle one to get once you have your Nationwide account. Monzo has more than 2.2 million customers, and it’s now planning to expand into the US in the coming weeks. Cookies help us deliver our Services. Slightly better interface and customer service (IMO). You message them with an issue, they get straight back - including an occasion when some wrong’un cloned my card. Got stuck out in Croatia having hit my withdrawal limits on Monzo - never again. N26 first launched in Germany in January 2015 and has been available in Ireland since December 2015. Potentially depends on your situation? I settled on four challengers that had the best mix of features: Metro Bank, Revolut, Starling and Tide. Found out today I can't get starling as I closed my previous to recently. Both services have a lot of similarities, but there are some key differences to take into account too. Starling already has business accounts but Monzo catches up soon. My wife and I use startling as we go abroad a fair bit. Revolut Business vs Monzo business vs Starling Bank business. I have used both as my main current account, and prefer Monzo. I'm used to amex where I just nip in the app and pay off come payday or mid month if I realise im ahead of budget or whatever. Starling so you can withdraw more money abroad and deposit cash in through the post office. Monzo only allow you £200/month before they charge 3%. Took the overdraft offer I received from starling too but have yet to use it and don't intend on doing. Been considering Tandem Vs Monzo for the overseas purchases (got my accounts on money dashboard now so the spending tracking is now not needed so it's basically just the one reason for them). I may short term benefit from monzos 1% for savings pots >1000 but only until for 2-3 months as I'm getting together 2500 to open a nationwide account for they're 12 month offer interest . Cash deposits: Starling are free at the Post Office, Monzo charge £1 for deposits at PayPoint outlets. I was using Monzo for my 'spending' account until December when I started using Starling, I prefer their app and the round up and pots are nice features to 'forget' about money. I thought the £200 limit would be an issue but truth be told, I almost never pay for stuff with cash anymore even abroad... Ah I missed the <2000 rate, that's good. I opened Starling and Monzo at the same time. A holiday or Christmas present perhaps. Monzo has more than 2 million customers in the UK, and it’s now turning its attention to the US market. Loving Starling right now. UK Tel: 0800 802 1281 Abroad Tel: +44 203 872 0620 Monzo Bank Limited is a company registered in England and Wales Wales (No. Monzo vs Starling Bank. Starling already has business accounts but Monzo catches up soon. Use whichever you like least for switching bonuses. Unless you’re going on holiday to a country who are heavily reliant on cash and do not widely accept card payments, the £200 monthly limit will not be an issue! 0.5% interest on first £2k is decent for a current account. Best business bank accounts for non-UK residentsadamfayed - 28 November Monzo only allow £200 of fee-free cash withdrawals per month, which means it's a slightly inferior card for travel IMO. Monzo don't (except in designated 'savings pots'). +1 for Starling. Got a response almost a month later. Do starling have one, I can't findention of one? Tide vs. Starling: A Closer Look At Starling. I've briefly had a starling account (used to switch for a reward) and really liked the app. Locally, Monzo is slightly better becuase of their app. Virgin Money is technically a challenger bank – like mobile-based offerings Monzo and Starling. Monzo vs starling opinions Hey folks, I'm looking to get either a starling or Monzo account opened before my next trip abroad (i do a few European trips a year) primarily for the foreign exchange usage. Reassuring. The app is nice and simple at the same time, updates incoming to the payments page etc look to make things even better. And a much more minor, personal plus, is that Starling seem far more professional. Monzo vs Monese at a glance. For the time it takes, why not both? Starling S tarling Bank is another current account option with a full banking licence and FSCS protection. I don't want my bank communicating things to me in emojis, which Monzo do constantly. I don't know about Monzo though. Have I revered right for tandem that it'd have to basically be DD on a set date? Press question mark to learn the rest of the keyboard shortcuts, https://monzo.com/blog/2018/01/04/atm-fees-january/. I do also like the spending tracking/breakdown but have an amex everyday cashback card so it makes me more to use that for everything I can which unfortunately negates the benefits of the tracking benefits. I agree with this. I was accepted on Starling a lot quicker (this was back when Monzo had a queue to join). I opened a Starling account last year and used the card to withdraw money on holiday in Malta. If you want a bank that won't close your account for day to day use, stay far from monzo. Starling also has 0% charge on foreign cash withdrawal and transactions. Totally agree, they’re really great. The Monzo Community forum is where Monzo users come to help build the bank of the future, and get the most out of the Monzo current account. Both were fantastic and flawless plus I'm one of those who went a bit over the top with making sure I had several different banks I could access cash/spend with while away on holiday. 09446231). Metro Bank has a physical branch network while Revolut, Starling and Tide are online-only. I have advised my friends to go for Monzo. Started to use both a little for UK payments when I'd made a group booking for some friends to request they send me the money too just to test that feature out. Starling has unlimited atm withdrawals abroad. Starling is probably Monzo’s closest rival. Starling also offers an in-app Marketplace so users can access other financial services and you can apply for a bigger loan than you can with Monzo. Virgin Money current account: the details. I used to have Monzo but cancelled it when they changed their foreign exchange limits. Anyway I'd get both of these and just use both until you decide a favourite, or just keep using both. Monzo and Starling Bank have overdraft protection, but Revolut doesn’t. Both basically asked them to make a card payment which into my account. Monzo ‘Pots’ and Starling ‘Goals’ let you stash money away for particular goals. By using our Services or clicking I agree, you agree to our use of cookies. After this cap Monzo starts charging 3% withdrawal fees, which is quite eye-watering for a budget backpacker. And 0.5% in credit interest on some balance I think, New comments cannot be posted and votes cannot be cast, More posts from the UKPersonalFinance community, Discuss, learn and request help on how to obtain, budget, protect, save and invest your money in the UK, Press J to jump to the feed. They dealt with it promptly. Each of them allows you to check daily / weekly / monthly and to identify any excess costs. Go with Starling, unless you closed your old account within 12 months - their FAQ mentions they won't open a new one within that timeframe. I have advised my friends to go for Monzo. Yeah agreed, especially useful for things like NatWest's £150 switching offer! Our Financial Services Register number is 730427. My starling and revolut are still fine with no issues, would avoid Monzo like corona. I'm looking to get either a starling or Monzo account opened before my next trip abroad (i do a few European trips a year) primarily for the foreign exchange usage. Given I'm juggling accounts I like the instant method. Do you mean the fx a withdrawals limit ? 09446231). Brilliant idea. Having a notification come through before the cash comes out the machine then checking what rate you got is rather incredible. Both Monzo and Starling do 'soft searches' of your credit report when you apply (unless you're applying for an overdraft – more on this in the Starling Bank and Monzo product-specific boxes below). 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