First Direct reject applicants if they have a communal frontdoor/hallway
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That is ridiculousā¦
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Some mailboxes give less resistance than a can of tuna*ā¦ They can be opened with paperclip or torn from the wall just as easily. Fantastic decision. 
*Based on real story, I lost a fight against it.
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My key somehow also opens next doors one if you donāt put it in all the way but it just does not lock it
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i get it, but thats super dumb and the fact they dont have an alternative in place is strange. talk about shooting yourself in the foot
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I think they base it on actuarial data showing incidence of theft of post, identity theft, fraud, etc in multioccupancy premises versus single occupancy (i.e. family not just individual) and do a check for the multipleoccupancy details in the Royal Mail Postcode Address File which includes Delivery Point Suffix to subdivide a PostCode and an indicator for Multioccupancy addresses. Changing any of the data on it can be hard as if for example you adapt the property to have individual external front doors (as oposed to internal) or decide to number all the flats differently e.g. change Ground Floor number 2, First Floor number 2 etc to 2A and 2B etc you need to submit forms to the local council street numbering section of the planning department as it is they who send the information thru to Royal Mail, and Royal Mail will only update it is they are getting the advice from an official source.
Unless their policy is based on proven data that customers with shared mailboxes have suffer significantly higher fraud then it seems irrational. Particularly as very few things need to be sent by post in the age of e-statements.
I noticed my own credit rating plummeted a few months ago when I moved (into a flat with a shared mailflap) but has also rebounded significantly since then. Seems odd it should have such an impact in isolation?
Is there actual proof of this as Iāve not seen anything?
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Nice headline 
Investors are preparing to give fintech app Revolut Ā£50 million even though itās bleeding money
Highlights:
- Revolut is close to sealing a Ā£50 million funding round that will value the company at Ā£300 million
- Revolut has revenues of Ā£2.3 million
- Itās sales costs are Ā£7.8 million
- In other words, āit looks like Revolut is āspending $1.00 to earn 50Ā¢ā
- Theyāre āon track to have 1 million customers by the end of 2017ā (but the article points out that we donāt know how many of those are active users)
what is unsual here is that the losses were down to ācost of sales,ā which were Ā£7.8 million.
āCost of salesā measures how much it costs for a company to provide the service or products it is selling, before any other incidental and operating expenses are taken into account. It is the most basic, fundamental measure of whether a business mankes [sic] money or not
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So we donāt want 200k users really, please stop signing up 
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The Ā£40 per user isnāt just cost of sales though, Iām guessing that the fees that Monzoās absorbing for top ups, Monzo.me, foreign transactions / withdrawals (& possibly fee charging ATMs here) are probably a significant portion of that but the rest is operational costsā¦
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Also, the pre-paid card is not the actual product, it is a testing ground. If it was the intended product, Iād be worried, but Monzo are clearly aware that the current accounts canāt be loss-making when up and running. 
Revolut either have plans on how their product will evolve to be profitable, or they need to develop some soon!
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Given that banks regularly directly pay over Ā£100 to acquire new customers, not to mention the significant marketing costs, Ā£40/year looks quite cheap to onboard a potential new customer and familiarise them with most of the features of the eventual current account.
Roundups are now available on Starling!
What are roundups, please?
Moneybox integration I should say.
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this makes no sense!!! most banks would get around this by delivering that card to branch. granted FD cant do this but they could use recorded delivery for cards. that would solve the problem and avoid loosing a customer. the bank i work in offer this if youre card gets ālostā in the mail a couple of times.
That is a huge leap! They were valued at Ā£40m in their crowdfunding last year.
Personally I would value them a lot less than monzo. Monzo should be 150m and Revolut <100m. If Revolut is worth 300m then monzo is 500m
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Interesting - whats your reasoning there?
Revolut seem to be opening a lot more offerings / potential streams of revenue at the moment e.g.:
Which cites current account, lending, as well as business services plus they have UK and europe footprint)
Iām not saying I disagree, just wondering why you value monzo higher?
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