This is great news! Discuss!
Bugs me that he has stated that Monzos main perk is usage abroad. So much more to it than that.
I’d comment but can’t be arsed with Facebook.
My main account is with first direct - really nice support.
I opened Monzo account today because of instant notifications. Really like first direct but they still don’t support pending transactions
I’ve shifted my banking from fd to Monzo - there is so much that fd cannot do. Won’t close my fd account though as it’s handy to have it for paying in cash and as a backup account.
Monzos main perk is usage abroad? Or did you mean ‘that he HAS stated’??
Edited to reflect what I actually mean
I bit and responded in the comments section:
"“Having said that, when you compare the overall picture, those two app-only banks’ primary perk is the fact they give you very cheap spending abroad”
Completely disagree with this statement. I have been using Monzo since September and I have yet to use it abroad.
There is so much more to it than this. Automatic categorizations of purchases, instant notifications of purchases, ring fencing money away into pots, setting budgets, splitting bills and sending and receiving money is so simple.
Neither Starling or Monzo can offer the financial incentive that First Direct or others do, but the app’s themselves are fantastic money management tools for day to day use. THAT is the primary perk."
Seems a shame to judge a book by its cover, but that person may be a late majority or laggard. They’ll understand with time!
“Who is Monzo”