Just a curiosity really, but how many of you are all in and don’t use any other bank or credit card?
I’ve introduced a few friends to Monzo and they’ve made the full switch and don’t use anything else (my wife and eldest daughter included), but for some reason, although I’ve used the CASS from some other less active accounts, I still have First Direct, Starling, Nationwide, Amex, HSBC Rewards, a HSBC Kinetic business account, plus others. I like Monzo, but I just can’t seem to fully commit and can’t really put my finger on why.
We’re full Monzo for our personal use. 2 adults 2 kids all using only Monzo.
I do have a BA Amex for work use, but only work use. For personal, it’s a Joint account & Flex for MrsW & me. For the kids it’s 1x 16-17yo account and 1x u16 account.
I’m currently for all intents and purposes a full on Monzo user. I mostly use Flex for CC spending because it prevents me over loading myself. I have cards else where with bigger limits for emergency purposes. My other accounts are basically dormant now. I would however run off back to First Direct if/when they release a packaged account. Even though they have legacy bank issues, in my experience the CS was hands down the best of any bank I ever used.
Personal pension with SJP wealth management (I have a particularly good - and long-standing - account with the SJP pension so unwilling to switch it out)
Crypto in an offline wallet, some in Coinbase**
*To be honest, I pile as much as possible into the pension plan, as the (future) returns will be far better than anything else I could do at this stage. If the savings interest rate or investment return hits 12%, I may reconsider. But very doubtful.
**I’ve played the long-game with crypto too - never traded, only hoarded. My return so far is 110% and it doesn’t look llike it’ll reduce anytime soon.
We also use SJP and the Monzo stocks ISA. I have a bit in Trading 212 and Nutmeg as well. Savings accounts aren’t great anywhere now but I did find a 7% on a regular saver with FD so put a bit in there too.
Yeah I have a FD current account and savings account and you’re right, hands down the best CS I’ve experienced to date but the lack of a higher tiered rewards style account and you can only hold either a balance transfer card or purchase credit card, and not both is also a bit annoying. App is fast and does its job though.
Only because they’re under fire for poor onboarding and having to go back through millions of registrations. Once they’ve got their compliance in check you’ll be able to open an account again.
They won’t even let me open the 4% saver at the minute and I’ve had a personal account with them for years.
