Yep, definitely agree.
I also think that both companies have different priorities in general.
For example, from the screenshots I saw from the Spending Analytics 2.0 (can’t actually test it, since they are only available on iOS), it looks like Monzo’s Spending 1.0. And once Revolut gets its banking license, they will likely face a similar slowdown while they migrate all the features to their current accounts.
Revolut already offer a ‘current’ account services as in a UK sort code and account number, recurring payments, transfers (although slower than most faster payments). Am sure l have read somewhere that Revolut don’t plan to go a pure play current account offer and stick with their offer and extend in line with what they do now.
A banking license is for many things not just an ability to offer current accounts.
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Their sort code is backed by a prepaid card provider - I know as it’s used by several other fintechs, like Monese. To be honest, I wouldn’t be 100% sure about their intentions. Obviously this is speculation, but given that they obviously have intentions for people to use the account as their main account, I’m a bit surprised about the lack of things like BACS Direct Debits (which Monese offers while using the same sort code). Also, Monese offers Google (formerly Android) Pay via its prepaid cards. So these prepaid cards are certainly not a show-stopper.
You’re right apologies, l realised about 30 seconds ago what you meant about current account…
When l started with my Fintech dabble l had Starling, Revolut and Monzo. At the start Revolut was my least favourite.
Several months later Starling is gone. Monzo is on dodgy ground and surprisingly Revolut is in my wallet most days. I do find they do some smart stuff (will resist the word innovative) that l am quite liking.
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Oh OK. Out of interest, why did you get rid of Starling? They also seem to release quite regularly, with a couple of market firsts.
Liked the product. Liked what they were doing in terms of development and road map. Didn’t like customer service. I also lost access to my phone for a while which made me nervous so for main banking l went to Lloyds. The only thing l miss are instant notification but l am getting 2% interest and a free Mens Health every month - because l am convinced that will make me super motivated for the gym 
.
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It’s funny because loyalty is one of the only things wedding a lot of Monzo users to Monzo lately, including me. It works both ways and patience eventually wears thin.
This is the exact same reason why Monzo is my spending card also. Revolut is for my bank transfers (which Monzo is terrible for), multi-currency conversions at the best rate & cryto. Currently highly anticipating Revolut Wealth, XRP and metal card soon 
I’ve only ever had positive customer service from Revolut myself, but I acknowledge your personal experiences on this. With their recent funding, they’re going to invest in more staff so this area can only improve.
Revolut Crypto isn’t a premium feature. I use it and I’m a standard user. You just need to activate it.
This can be said for any fintech, the difference with Revolut is that they are quick to execute. In just 3 years, they’ve grown faster than any other EU fintech.
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I don’t know what Spending 1.0 looked like for Monzo, but given Monzo has spent a lot of time beautifying their app, e.g. with actual company logos, I’d probs say you’re right.
What Revolut’s lacks in beauty, it remains with the functionality from what I see in my app.
Fine balance between style and sustance I suppose. Whereas Monzo is giving us hashtags and the ability to thank people with emojis, it makes you wonder where to draw the line though…
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For me visuals/ speed is pretty important and since I use Monzo to budget/ plan it needs to be enjoyable to use and visually appealing. Revolut doesn’t do it for me visually and I’d use it for a few features or overseas spending but not day-to-day use. Probably not as much of a priority for others. Whoever first comes up with a shared database(?) to pick and choose rules for Pots/ Vaults that users can create and contribute to will be a solid winner for my spending tbh. The community has suggested a lot of good ideas and I’m sure some tech savvy people can actually make their ideas into working Pots- it would be nice to be able to see what are the crowd faves too. I don’t want it just limited to rounding up/ monthly leftover sweep/ charity.
That’s odd, wasn’t it a premium only feature when it was first rolled out?
Do you mean stuff like SEPA? I usually hear of people in the UK complaining about getting accs locked for no reason for up to a month or transfers being held for awhile, but not so much from EU users. This has made me a little wary of using it. Do you know why this might be the case?
I think they should switch their chat to Intercom or something so they don’t force users to wait on the chat/ close the chat if users don’t reply asap. Had a similar issue with Starling before until they introduced more chat methods.
If they can train all their support staff to the same level I’m sure it will improve. I ran around in circles with at least 10 staff because it kept closing/ they weren’t sure of what they were talking about until someone competent stepped in to help out. I’ve experienced the same issue with all occasions I’ve had to contact CS so even though it’s a slick app and has lots of snazzy features I always thought COps let down the product by being unknowlegeable or vague when I needed help.
But it’s defo a personal experience thing that affects everyone’s feelings about a product/ bank, one or two bad experiences can colour how you think about it. Pretty sure people have closed accounts with Monzo/ Starling citing bad CS too.
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Exactly the same for me. I also much prefer the visual aesthetic of Monzo over Revolut and i’d give the analogy that I only use Revolut in the same way as people who use a 2nd mobile phone (Monzo being my main mobile phone in the analogy).
Most likely yes, but it quickly rolled out to everyone.
Yes, for both U.K. regular bank transfers and SEPA transfers is what I use. I’ve only ever had positive and timely transfers, so unfortunately have no knowledge on why some may have had problems sorry.
This is a great shame and I totally agree with what you said on this matter. It’s up to the companies to get customer service right and make good first, second, third impressions for their brands sake. As all these fintechs we use grow, let’s just hope they make investments where it matters.
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That’s good to hear that there’s no more barrier, it’ll make crypto more accessible to people who aren’t familiar with it and let them dabble a little before they properly dive in with other currencies. I know some say the lay person is ruining bitcoin, but it shouldn’t just be limited to a select group of people imo. 
A lot of people still don’t really understand banks or have much financial knowledge. I know I didn’t until I got interested in fintech.
Re: COps the moment someone competent stepped in it was sorted in minutes, so if they can smooth out the kinks in the system/ train newer support staff it would be so much better
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Indeed, the barrier to entry into crypto is falling and crypto has libertarian roots so is only enhanced by the masses. Mass adoption 
is key for cryptos success.
Also, it just occurred to me that I got crypto early because I referred 3 friends to unlock it; this is why it appeared premium to you before. Ties nicely back into your earlier point of Revolut making good use of their promos to onboard/entice new users in a similar way Monzo uses golden tickets to do so.
Re: Competency (key operating word aha) makes all the difference for sure
P.S. An exclusive for anyone interested… this is the first day I’ve been in profit since March 8 
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I’m much more happier with Revolut than Monzo, and the figures speak for themselves. Monzo is now just my no 2 back up, but I don’t fully trust it. And there is an unpleasant arrogance with a lot of the users of Monzo, with some really obsequious responses to some people’s legitimate concerns.
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Can I ask why?
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eh?
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There are obsequious replies by some users of the community, but the company you can trust.
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obsequious = servile… Why would anyone complain about a servile response to their concern?
Revolut keep on iterating… Vaults just got better with such a novel Spare Change Accelerator
:
Revolut now have people near me, like Monzo’s near by friends (on Android)
Seems like they are rolling out big features right near each other, corporate spies?