(That's defo a benefit if not). Customer support is much better on Monzo. Their Savings Pot is a little pointless when you could open a Marcus account (1.5% interest) within minutes. 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. Has happened to a handful of unrelated people around me, all have been using monzo for years. 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). I opened Starling and Monzo at the same time. I used the uswitch service over Xmas to close my Monzo account and move over to Starling. It lets you set savings goals and even offers interest on your balance at 0.05% up to balances of £85,000. Some nicked my card and used the contactless and they were great for refunding etc too. Both apps take a chat-first approach to customer service, via a customer service tab. If you want a bank that won't close your account for day to day use, stay far from monzo. Given I'm juggling accounts I like the instant method. Unlike Revolut, Monzo and Starling both have a full UK banking licence and your deposits are covered by the FSCS. After this cap Monzo starts charging 3% withdrawal fees, which is quite eye-watering for a budget backpacker. I was accepted on Starling a lot quicker (this was back when Monzo had a queue to join). Monzo don't (except in designated 'savings pots'). Found out today I can't get starling as I closed my previous to recently. For the time it takes, why not both? 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. 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. Monzo has more than 2 million customers in the UK, and it’s now turning its attention to the US market. I have a starling account for holidays. Each of them allows you to check daily / weekly / monthly and to identify any excess costs. I moved to Starling and they have been great. Source: https://monzo.com/blog/2018/01/04/atm-fees-january/. Better customer service (higher Trustpilot score than Monzo). Reassuring. Starling has unlimited atm withdrawals abroad. +1 for Starling. For Starling Bank, you’ll pay an equivalent annual rate (EAR) of 15 percent. The main thing for me is the budgeting and money management side of things, it’s amazing. And while both banks offer support via telephone, Monzo certainly do their best to push customers to in-app chat first, whereas Starling Bank encourage customers to call for more complex queries. Monzo offers higher rates, but only if you open a separate savings account with one of its partners. Our Financial Services Register number is 730427. 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. Could you tell me some of the most useful features of their app? I opened a Starling account last year and used the card to withdraw money on holiday in Malta. 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). FX limits way better. 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. Also consider a Tandem credit card, it's free for overseas purchases and will give you 0.5% cashback, too. Anything else anyone can suggest that makes one better than the other? 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. The really interesting stats can be found when you look at which specific banks and building societies we all recently ditched and joined. Starling have their marketplace which I really like and monzo have integrated with ifttt which seems really useful. 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. Press question mark to learn the rest of the keyboard shortcuts. I've had friends try to get me into it a couple times to no avail. 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. 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. 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! By using our Services or clicking I agree, you agree to our use of cookies. Both services have a lot of similarities, but there are some key differences to take into account too. Revolut vs Monzo vs Starling: the verdict. Comparison: Starling vs Monzo. Tide vs. Starling: A Closer Look At Starling. Mainly use them for foreign card payments or trips abroad spending/withdrawals. Monzos looks v similar but I've no hands on experience with it, just screen shots. 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… Oliveira GH, Dupont M, Naftel D, Myers SL, Yuan Y, Tang WH, Gonzalez-Stawinski G, Young JB, Taylor DO, Starling RC. British mobile banks Monzo and Starling are transforming UK spending. The Monzo community and transparency is also a lot better than Starling in my opinion. Locally, Monzo is slightly better becuase of their app. Loving Starling right now. 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 … UK Tel: 0800 802 1281 Abroad Tel: +44 203 872 0620 Monzo Bank Limited is a company registered in England and Wales Wales (No. Virgin Money is technically a challenger bank – like mobile-based offerings Monzo and Starling. Slightly better interface and customer service (IMO). I prefer the Monzo app so that’s my main bank. Revolut's closest competitors when it comes to business banking are Monzo and Starling. 0.5% interest on first £2k is decent for a current account. Service-wise they appear to both be great. Anyway I'd get both of these and just use both until you decide a favourite, or just keep using both. Monzo vs Starling Bank. Monzo only allow £200 of fee-free cash withdrawals per month, which means it's a slightly inferior card for travel IMO. Monzo has more than 2.2 million customers, and it’s now planning to expand into the US in the coming weeks. Monzo ‘Pots’ and Starling ‘Goals’ let you stash money away for particular goals. A holiday or Christmas present perhaps. I first read about tandem earlier but not properly looked into it yet, I'll have a look. Pretty much all my friends/people I know have Monzo, makes everything so convenient. 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. I did some comparisons of the rates it converts at and it's unbelievably good. Best business bank accounts for non-UK residentsadamfayed - 28 November Enjoy peace of mind with extensive phone and travel insurance, interest and much more. 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! 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. 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. I believe Monzo charge after the first £200 or something like that. No fees on overseas withdrawals. Might still try it and see if it goes through its so quick. 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've had some amazing experiences. I don't want my bank communicating things to me in emojis, which Monzo do constantly. I used to have Monzo but cancelled it when they changed their foreign exchange limits. Starling so you can withdraw more money abroad and deposit cash in through the post office. You message them with an issue, they get straight back - including an occasion when some wrong’un cloned my card. Press question mark to learn the rest of the keyboard shortcuts, https://monzo.com/blog/2018/01/04/atm-fees-january/. Using Starling Bank Abroad. One of the main reasons I applied for an account with Starling Bank is their free foreign ATM withdrawals whilst travelling. Starling and Monzo interest rates. N26 vs Monzo vs Starling Bank. 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. 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. Yeah agreed, especially useful for things like NatWest's £150 switching offer! It's been so good on my 3 week xmas trip that I've been the banker for the whole family. 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. I hope that they can sustain it! Nicer card. Revolut Business vs Monzo business vs Starling Bank business. This data is provided by Pay UK, the retail payments authority. I don't know about Monzo though. 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. My starling and revolut are still fine with no issues, would avoid Monzo like corona. 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 . So how does it compare to its competitors? I've been looking at both of these recently and I'm attracted to both. 09446231). Both basically asked them to make a card payment which into my account. 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. Starling already has business accounts but Monzo catches up soon. Monzo charges 3% on cash withdrawals you make at any ATM abroad, after a limit of £200. I use both. A soft search means that other lenders usually can't see it, unlike a 'hard search' which is visible to other lenders searching your report and can lower your credit score. Here are the bare statistics to kick off our comparison of these two services: Monzo Monese; Set up fees: Free: £4.95 for debit card: Time to get a debit card: And a much more minor, personal plus, is that Starling seem far more professional. The app is nice and simple at the same time, updates incoming to the payments page etc look to make things even better. Cash withdrawals abroad: Starling don't charge fees on any amount (and you can withdraw £300/day). Unlike Monzo, Starling pays an interest … Starling Bank is the only branchless bank to offer interest on current account balances. In case of loss, freezing them is easy and fast, just access the app … and press a button. No limit on fee-free foreign cash withdrawals. 09446231). Starling already has business accounts but Monzo catches up soon. TransferWise, Monzo and Starling have also collectively received 60 complaints over the same time period. Cash deposits: Starling are free at the Post Office, Monzo charge £1 for deposits at PayPoint outlets. It just doesn't work for the 'live info' 0. cigarette companies). They dealt with it promptly. Took the overdraft offer I received from starling too but have yet to use it and don't intend on doing. Cookies help us deliver our Services. Got stuck out in Croatia having hit my withdrawal limits on Monzo - never again. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the regulated by the Financial Conduct Authority and the PRA. I have advised my friends to go for Monzo. I have used both as my main current account, and prefer Monzo. Monzo is very good, don't know the others. Other than that it's 50p a day. Potentially depends on your situation? However £200 might be enough. 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. 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. I agree with this. 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. Virgin Money current account: the details. 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. Starling, simply due to no limit on free withdrawals abroad. My wife and I use startling as we go abroad a fair bit. 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. Have I revered right for tandem that it'd have to basically be DD on a set date? Good transfer rates, no charges, no charges for up to £200 a month cash withdrawals abroad, 3% charge after that, … N26 now has more than 5 million customers across Europe and the USA, with almost 200,000 in Ireland. I've briefly had a starling account (used to switch for a reward) and really liked the app. 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. 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. 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). Nothing else really separates them IMO. Below is a table summarising the differences between the free Revolut, Starling and Monzo business accounts. Starling S tarling Bank is another current account option with a full banking licence and FSCS protection. 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. Monzo Bank Limited is a company registered in England and Wales (No. 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. 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. One for transport costs, one for eating out, one for tickets and tourist attractions. The first thing you’re likely to notice about Starling is the beautiful branding, interface, and UX design. Totally agree, they’re really great. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Starling also has 0% charge on foreign cash withdrawal and transactions. A Comparison of N26 Vs Revolut in Ireland A Summary of N26 . 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. Starling. Do starling have one, I can't findention of one? 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. Starling is definitely a good option for foreign cash withdrawals. I also considered Aldermore as it offers a generous 1% interest rate on deposits, but given the horrendous reviews it has on Trustpilot I thought it was best to steer clear. Keeping the money out of sight but within reach could help you save. Having a notification come through before the cash comes out the machine then checking what rate you got is rather incredible. Metro Bank has a physical branch network while Revolut, Starling and Tide are online-only. Even if everything works fine it allowed me to budget by splitting my spending money across 3 accounts. I prefer their app and the round up and pots are nice features to 'forget' about money. Nowhere near enough for me. 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. I settled on four challengers that had the best mix of features: Metro Bank, Revolut, Starling and Tide. Got a response almost a month later. Monzo and Starling Bank have overdraft protection, but Revolut doesn’t. Service-wise they appear to both be great. As we have seen, there are not very big differences between these 3 challengers. So I used both of them, just found the Monzo app a lot cleaner and more useful for myself. For Monzo, you’ll be charged 50p every day your account is overdrawn by more than £20, up to a maximum cost of £15.50 a month. Monzo vs Monese at a glance. Brilliant idea. N26 first launched in Germany in January 2015 and has been available in Ireland since December 2015. I have advised my friends to go for Monzo. Monzo only allow you £200/month before they charge 3%. 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