No. Starling (like Monzo) do not have SCT or SWIFT, so I use Handelsbanken as my main account. Though my Starling account has my newer BACS Direct Debits on.
I also use Monese a lot as I love the way they implemented SCT in their app, and their customer service staff are lovely.
That’s another great point well made.
Overdrafts suit both ends of the spectrum, HNW use them to ensure no cashflow problems. Say you have purchased a new yacht or a horse so your account balance drops, you may then transfer funds from your account in Switzerland say and it may take a couple of days to arrive, well the overdraft gives peace of mind if a direct debit (or cheque) clears in the meantime.
While people on minimal income may not just be in overdraft a few days but long term, so effectively using it like a loan. Often because they may not be able to obtain a loan.
Those are generalisations for the purpose of answering your comment. I appreciate however that everyone’s financial and employment situation will vary, and in no way do I pigeonhole people into boxes like this!
A really great answer!
I see, then I guess what we’re talking about is the ability to have a negative balance for a very short period of time. For example you have your credit card direct debit for 10,000 GBP, but you forgot to transfer funds from your saving account, the bank will not reject your direct debit if you only have 1000 GBP in your current account, they will get you in overdraft (potentially for free) even if the amount is quite large, as long as you get out of your overdraft within 1 or 2 days, then they can start charging you if the situation doesn’t change or deny you this payment facility next time it happens. This happened to me once, and the bank called me to remind me to deposit enough money before executing the direct debit order.
Though in the past I have called my bank manager and apologized for the temporary blip while waiting for funds to transfer and he has just written off the charges for me.
Some HNW I know keep a minimal amount in current accounts and then have all the kerfuffle of having to draw funds out of savings in order to cover a few thousand from their current account. It seems a lot of effort in these days when interest is so low (though in the past may have made sense when rates were high)
To be honest if I worked hard enough ( which I will) and I am doing well financially I won’t be speaking to a bank manager as they have a tunnelled view of the bank they work for. I would be looking to speak to a financial advisor.
I have had a financial advisor for decades, and I agree that they are good for investment and pensions advice, but when it comes to your banking needs your branch manager and account handler are the best point of call. In Coutts they even have account handlers who specialise in the industries their clients come from, this in depth knowledge leads to a greater understanding between both parties.
A lot of people cash and asset rich, do not have a credit rating.
This guy sounds like he would be refused an overdraft from any credit check. The difference with other banks is that they will look at it manually. In more detail, so he is still able to get an overdraft
As Simon said, this will happen eventually 
As I say, I don’t need a £100 Monzo overdraft, I’m simply pointing out that there are pros and cons to any bank account system that is driven entirely by computer. On the one hand it is, or should be, cheaper to run, on the other it has no flexibility. Over the past 12 months I have been using the card (first pre-pay, then bank account) for an average of about £3,000 a month spending, and typically have a balance of about £1,000. Any other bank seeing that 12 month history would automatically allow a £500 overdraft. To be fair to Monzo, the staff member who commented yesterday did say they are looking into improving their credit assessment system.
MIROW above made sensible comments.
Totally agree with you, however Monzo overdrafts are still in early stages and they’re taking a very careful approach - I remember reading feedback on here from users with a good credit rating and big overdrafts offered at other banks, but a very low one on Monzo.
I expect them to become more flexible in the future and hopefully allow humans to influence/override the credit rating algorithm’s decisions. 
And I don’t think Monzo have even enabled overdrafts for everyone yet?
I’m not sure; mine says it can’t offer me an overdraft, but I don’t know if it’s because they’ve just not been offered to me yet or if my credit doesn’t fit Monzo’s criteria.
I assume it’s the case, there’s nowhere in the app that mentions overdraft for me.
That’s correct!
I’m curious as to how Monzo will become profitable on its current approach. Over the years I have worked on setting up banks, credit unions and e-money firms. I dare say I am old school but I don’t see any real profit to be made on current accounts. The revenues in bog standard banking come from loans and overdrafts and if an ultra cautious approach is taken there then where is the P&L?
While I wish Monzo well, and it clearly has an appreciative fan-club, and I like it myself in its current Uber-style approach of subsidising customers, the fact is it will have to go down the “nasty bank” road if it ever wants to make money. And if it doesn’t make money, it will go bust.
Keep in mind that Monzo has a lot less overheads due to not having branches and running modern systems, so even a tiny amount of profit per user (from overdrafts and the upcoming Marketplace) might be all it takes to make them highly profitable! 
That might well be so. However, I think we are agreed that there is no money to be made in current accounts as such and that banks make money from loans. The Marketplace idea might or might not work. Which I suppose brings me back to my point that it’s only through old-fashioned nasty-bank loans and overdrafts that Monzo can make money. I do wonder how many current users will run away when they realise that they have had free subs and that the company can’t work on that basis long-term.
No malice, I’m all for Monzo, it just strikes me that very few posters here have any conception of commercial reality.
The thing is, I’m not sure overdrafts (and possibly loans in the future) are inherently nasty. Monzo’s overdraft is extremely expensive, but yet it’s laid out in a simple way of “pay X to get Y£ of overdraft for Z days”, with no hidden charges or other nonsense. I would personally use it if I had the need to, and I’m sure many others would, especially people with only Monzo accounts with no easy alternative (because you still can’t open a legacy account in 5 minutes through an app).
I would also actually happily pay fees for Monzo due to its transparency, ethos and culture , I might not be typical in that though 