Starling Discussion & Feedback

This topic is temporarily closed for 4 hours due to a large number of community flags.

This topic is temporarily closed for 4 hours due to a large number of community flags.

25 posts were split to a new topic: Monzo’s Crowdfunding Rounds

"Starlin**g seems to me to me to be on all levels as good or better a product for the customer.**
But as an investor by all means carry on boosting Monzo through content free posts"

you asked for more content -

Interest: 0.5% on Starling cash, not much, but better than 0% on Monzo
this has been discussed lots of times on the forum , it doesnt really alter my choice of bank when at most you are talking £10 a year if you keep £2000 sat in your account, the whole amount, for the whole year , admittedly its better than Monzos £0 a year at present. advantage Starling £10 a year :slight_smile: if you’ve got £2000 to sit in your account to accrue the £10 :slight_smile:
Forex: Equal pegging, both give good rates. However, I have frequently had Monzo refused overseas.
I have never had my Monzo card refused abroad in 2 1/2 years of use - we must travel to different countries - actually thats untrue I have had it refused in Holland :slight_smile: , there are also reports on the Starling community of their cards being refused - equal pegging
Top-ups: I get begging messages from Monzo asking me not to do this, but not from Starling
I get a message that says “we use a third party provider for these top ups so each one costs us money- if you can add money via bank transfer please do” - right above the top up button - “begging” ? no not really “begging” in my opinion - asking you to use a different system
Overdrafts: Not eligible for an overdraft from Monzo. Starling gave me £250 on Day 1 without my asking. As I have over 25K credit lines on other cards and zero end month balances on them, Monzo is hamstringing itself here since banks only really make money from loans and in my case at least its algorithms have in my opinion produced a dumb answer.
"dumb answer " Monzo can choose who they lend money to, at the moment they choose not to lend it to you , their choice - did Starling “give you £250 on day one without my asking” or did you sign a credit agreement to get that £250 offer of overdraft ? - “zero end balance on them” - so the other dumb banks are lending their customers money for no return ??? :slight_smile:
Credit rating: Monzo only shares rating info with CallCredit, which is a small player. Starling goes wider. So a Monzo account will do nothing much that is useful for your credit rating as the account is invisible to the major credit rating agencies.
fortunately you have access to £25,000 of credit elsewhere - why did Starling “only” offer you £250 ?
Apps: Level pegging. Both have adequate breakdowns. Note that both have lost the advantage of instant app sight of spending as all my other cards now do this.
don’t know who all your other cards are with so no comment - in your opinion they seem to have both lost the initiative here
Statements: Starling wins here as it will email proper monthly statements.
Monzo has the function to export by email proper monthly statements, press the button - exported to email - you seem unaware of this fact
Starling - having used touch ID to get into the account they then ask for a password to export the statement - can I remember my password ? - get in touch with C-ops- very quick answer - to reset my password go to account settings - asks for photo ID to reset my password - searches for passport - cant find passport - just wanted a statement for my records - is this a win ??? :slight_smile:
Setting up: Instant for Starling, wait list for Monzo.
Monzo has no waiting list - you seem unaware of this fact
Main account: I am probably old-fashioned but I would not be interested in using any app bank as my main account
thats your choice - don’t quite understand why you want to compare Monzo with Starling on this point as you don’t want to use either apparently :slight_smile:
I’d be interested to hear from others why they feel that from an objective point of view Monzo would be a better choice than Starling.
Its all about choice isn’t it, some feel more comfortable with one rather than the other, neither is wrong :slight_smile:

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I think we can all agree one thing…

Customer Service
Monzo > Starling

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Monzo in app chat has been slow in the past sometimes , had an in app chat with Starling this am - answered in about 1 minute :+1:

Starling do seem to get more comments about bad communication :slight_smile: hopefully the C-ops team numbers can cope with the martin lewis effect :slight_smile:

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Yeah, they can answer in 10 seconds but if they don’t know what they talking about…I’d rather wait a little longer for some competence…

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When I signed up to Starling a year ago I thought customer service was excellent. I think I am asking more difficult questions these days though, and they can’t even give me a clear answer about one of the conditions for a business account that should be quite straight forward.

The specific issue is that they say for the business that “the Company is incorporated, registered and has its center of main interest in the United Kingdom” (yes that is their spelling of “center” from their website).

I asked if this means my activity carrying out the work has to be mainly in the UK, or if the income has to be mainly from UK business and individuals. I have a feeling them mean the latter, but after a week they still can’t give me an answer despite being prompted a few times.

They also haven’t got back to me on my question about why my debit card records transactions on the card and these are accessible with a card reader app on a mobile phone.

Now to be balanced, I haven’t had to use Monzo support very often, but when I have it has been good although only on simple issues.

But this is about “heart versus head”, and while it used to be head saying Starling (for business at least), and heart with Monzo, it’s now becoming both for Monzo in the hope they can offer something to sole traders soon, and without any restriction on who provides my income in terms of their geography. In this day and age I should be able to work internationally (within established trade rules of course) and not worry if my bank is interested in whether my business income is from the UK or otherwise.

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In fairness to Starling - is that not more to do with which tax jurisdiction you are working under - complications on receiving monies from other countries without tax being paid in that country - not for one moment suggesting that you are - but it must have a number of complications receiving money from unknown sources ??? don’t know enough about it :slight_smile:

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Was just about to say something similar along the tax point

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I totally agree. But I’ve had a business account with other banks, they asked the relevant questions, were happy and opened an account for me. My point is about customer service. Shouldn’t they know the answer to a question about their own Terms and Conditions? It’s not an unusual situation to be working in one country for a business in another. My main business is within the EU/EEA so it should be relatively simple.

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I agree - I want Monzo and Starling C-ops to be the font of all knowledge , unfortunately they sometime have to ask others which doesnt provide an immediate answer - I had a situation about large money transfers into Monzo which the Cop was a bit unsure of the correct answer and took about 20 minutes to find the definitive answer - he got back to me , I was happy with the waiting time - was doing something else while I waited :slight_smile:

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Again, I agree. As I said, it’s been a week, and they just keep saying they will get an answer as soon as they can. When I asked how long that might be, they couldn’t tell me. I can wait a day, or two days for a well researched definitive answer. Twenty minutes would be amazing :slight_smile:

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A post was merged into an existing topic: Monzo’s Crowdfunding Rounds

A post was merged into an existing topic: Monzo’s Crowdfunding Rounds

A post was merged into an existing topic: Monzo’s Crowdfunding Rounds

A post was merged into an existing topic: Monzo’s Crowdfunding Rounds