A post was merged into an existing topic: Starling Feedback
Thats interesting, interesting to note that they are porting to Ireland to give them a post-brexit EU base.
Monzo from my recollection have said they are waiting to see the implication of brexit on their ability to passport their UK banking license, Is doing similar with Ireland (an English speaking, culturally and legally similar current and future EU member state) actively on their radar as well? and would anyone hazard to guess at the complexity and cost of such a move compared to starting from scratch like they did here.
Enjoying the strikethrough 
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Random but cool - it looks like Tom’s off to visit the French PM soon -
Nina’s screenshots (attached to her tweets) are from the below (since edited) news story which suggests that this is a separate venture from the FDP. So the team’s getting really involved in lobbying related to Brexit here 
https://www.thememo.com/2017/09/25/londons-tech-elite-discuss-brexit-britain-with-french-pm/
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Mentions Monzo which links to this story
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No mention of Starling in TNW article. Does Starling not use GPS for payment processing?
Yes they do - probably just an oversight on the writer’s part given how popular (
) Starling is.
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the article doesnt mention how the write was left broke
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I suppose they mean that if it were to go down and you had no other payment card then you would ‘broke’?? Bit of an unfair clickbait I think…
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The second article cites tweets from 5 March 2017. I think this is around the same time the Starling app launched.
Monzo’s been nominated for Bank of the Year at the City AM awards 
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“is targeting another multi million pound fund raising in the near future” 
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quick incognito
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(Future) competitor update -
It’s good to see another challenger(ish) provider in the US. Their app’s transaction feed helps me appreciate the design of Monzo’s even more too 
This line from their website made me grin -
Chime’s business was built on the principle of protecting our members and helping them get ahead. That means we don’t profit off of you. We profit with you — earning a small amount from Visa on transactions which is paid by the merchant.
Emphasis mine.
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Interesting, too, that their “serious growth” has seen them reach 500k customers, but they launched almost two years before Monzo. And have a target market ~5x larger. Monzo is already approaching that number of customers.
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On prepaid. Not on current account.
I’ll be interested to see how many transfer their current account to Monzo. A lot of what I read is people who just want a “currency card” for using when they go on holiday.
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This is becoming a major trend
Cleo
First direct
Tandem
Etc
currency card - is exactly why I got it for my first holiday two years ago , probably would never use it again apart from great holiday rates , bit gimmicky - now cant remember when I last used my Lloyds debit card , Monzo is my main card having experienced the “gimmick” initially in Austria - yes, sure some “currency card” users won’t sign up to what Monzo offers - some will be hooked - it will be interesting to see how many - although I cant see any benefit of not switching when the pre paid is withdrawn - all that will happen is you lose your "currency card " - it will have the same functions and more ( eventually )
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I hear conflicting reports about banking in the US - I’ve seen people on here say it’s more advanced.
But when I’ve been to the US and when I’ve spoken to the few Americans I know, they say it’s stuck in the 70s. A bank transfer from one bank to another bank takes 3 - 5 days there. They have no faster payments equivalent.
When I went in 2007 - I logged on to my, Natwest at the time, internet banking at a friends house and everyone thought it was amazing as internet banking was in it’s infancy there whilst we already took it for granted.
They’ve only just got chip and PIN (which was completely botched because they have no proper national system for implementation and it was all chip and sign or chip and PIN machines that didn’t work with certain cards and stuff), contactless is not widespread. It’s a complete mess over there.
I don’t know if they’ve made jumps in the last few years - if not, the first person to start a Monzo/Starling clone over there could make an absolute killing!
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My experience of US banking is that some banks have very good customer service, but the system as a whole is incredibly archaic. A couple of years ago, I was in the US and visited my bank to change accounts. The lady very proudly explained thaty new bank card would have this brand new technology called a ‘chip’ and would be so much more secure that I should consider using it even when overseas. She looked dumbfounded when I showed her 3 Australian and 2 British bank cards, all with chip and contactless.
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