Yes, I mean they’re locking away other features banks give you for free. So it wouldn’t surprise me.
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Credit checker was promised for ALL accounts, locked away now. Other connected cards, locked away
Example. Natwest give me both for nothing
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Good point, this is totally true as well.
This in itself actually seems like a good idea, without costing them much if anything, as the features and tools are already developed. Interest and offers could be locked too if they wanted, but it gives people an opportunity to try out the key features, see how they fit into their life, and may end up hooking them in.
Must admit, I very much miss the virtual cards since cancelling and I’m tempted to upgrade back to it, even though I know there just isn’t enough for value for me yet. They completely transformed the way I shop online for the better, where Apple Pay isn’t available.
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It’s not the same connected accounts though is it?
Actually, it is.
NatWest support Open Banking connections exactly like Monzo Plus - except it’s free.
Edit: Didn’t realise they don’t support credit cards.
Sorry!
Granted it just seems to be bank accounts with Natwest, not credit cards. so not the same no, the credit checker however IS the same
Natwest allow me to connect:
Alied Irish bank
BOS
Danske Bank
First Direct
First Trust Bank
M&S bank
Monzo
Natwest (for some reason)
Nationwide
Ulster Bank
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Do the big banks have their own in house system like Monzo though or they outsourcing it relying on services like truelayer?
Monzo’s in house version is the first and only integration that actually seemed to just work without issue (except with NationWide for me). Revolut’s was a mess for me, and I’ve not had much look with Barclays or HSBC’s either.
I have found Open Banking to work fine with all the providers I’ve used - with the only niggle being you do always need to remember to renew the connection every 90 days, but that goes for every provider.
Very occasionally, a bank will update their API and this seems to have the effect of resetting the 90 day clock - so you have to connect again even if you last did recently. This isn’t a major thing, since it rarely happens. It was a bit more common in the early days of Open Banking, when banks would update their APIs frequently, but it seems like less of an issue now.
I just go in and renew every connection across all my services every 3 months, and it’s quite rare for any to need attention outside of that window.
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The main issue I’ve had with these services, is they don’t seem to update reliably, with inaccurate balances and missing transactions. Those were never an issue with Monzo Plus.
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Can’t say I’ve ever had that!
Sometimes, with CYBG accounts (new Virgin Money) and RBS/NatWest group accounts, transactions show as pending for a while after they have actually fully cleared, but the balance is always correct.
I don’t think I have ever spotted any transactions missing either?
It seems to vary by account and Bank.
Revolut just doesn’t work with Monzo for instance. The vast majority of my transactions are missing, and the account balance is always inaccurate. Revolut doesn’t play nicely with Barclays either. Delinking and linking the account doesn’t fix it either.
Complaining to the banks involved is a waste of time too, as they just pass the parcel and blame the other. Hopefully just teething problems that will eventually be ironed out as things mature.
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Sounds like teething problems, yes.
Barclays are working for me OK in Yolt and Emma, haven’t tried putting them in Revolut.
Monzo seems to work for me everywhere.
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I have issues connecting money dashboard to my virgin money account, I never get the 2FA text when it comes to connecting, it’s a virgin money issue though.
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Strange, I can use Virgin Money’s Open Banking portal OK.
(I assume you mean “old Virgin Money” here, not ex-CYBG, as only old VM send texts?)
I presume so, I signed up for B bank to use as a burner account (for swapping to different banks for incentives) and I think it opened a ‘classic’ account. don’t know what CYBG is, unless thats the an acronym for the merger?
CYBG = Clydsedale Yorkshire Bank Group
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Why I mention it is that, for one of those accounts which is CYBG under the covers, you may have to login via selecting Yorkshire or Clydesdale rather than Virgin Money.
If you do that, it might work for you.
(Use Yorkshire if your sort code starts 05, use Clydesdale if it starts in the 80s - probably 82).
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I will certainly try that, the sort begins 05. thank you
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