I don’t know what this means, sadly.
Starling also doesn’t have to rely on customer numbers - the supplementary businesses are effectively the money winner. Its just like Apple taking the headlines, while Microsoft overtakes them on shareprice making money on their infrastructure (i.e Azure) - but they don’t need the hard customer numbers Apple do for buying phones.
4 Likes
I kind of get the point. But the current account needs to wash its face. If not, why offer it - or indeed advertise it?
3 Likes
Using the Microsoft vs Apple example - Microsoft have similar product lines (apart from phones) to Apple, just they are not the main profit generator or leading segment. It becomes a ‘poster child’ for the main event.
I think Starling are using the current account as a ‘front’ for their other services - it is far trendier to be talking about the consumer account than services.
2 Likes
When did that happen?
Last time I checked, Microsoft (NASDAQ: MSFT) had a 52-week low/high value of $83.83/$116.18, while Apple’ (NASDAQ: AAPL) had a 52-week low/high value of $142.00/$233.47.
1 Like
I’m guessing it’s actually a reference to the market cap rather than literal share price.
6 Likes
I think he is about - https://www.theverge.com/2018/11/26/18109784/microsoft-apple-market-cap-2018-valuable-company
3 Likes
Hi £300 overdraft was withdrawn from my Starling account and the bank stated that it was due to my negligence. So I have to repay back the full amount.
I’ve told them im not paying back a penny, what’s the worst that can happen?
A bailiff knocking at your door at some point. But before that, a default will be registered on your credit report, debt collectors will chase you, and a County Court Judgement (CCJ) will be issued against you.
Also, the nature of overdrafts is that the agreement typically states that the bank can withdraw it and demand repayment of any sums owed at any time without notice, so they are within their right legally.
10 Likes
The worse that could happen is that they put a notice on your credit file making it hard to borrow money again and then also pass the debt to a collection agency who then add their fees and before you know it you owe £0000’s in debt collection fees as well as the £300.
I am sure the T&Cs would have mentioned that they can demand full payment at anytime and you have obviously used the £300 so why won’t you just pay it back and move to Monzo
However, if you don’t like paying back your debts I’d rather you went some where else.
4 Likes
Pay it back, it’s not worth the trouble it will cause you by not doing it. It’s a lot of money to find in 1 go so ask them for longer terms for repayment if you need to.
What negligence were they referencing?
4 Likes
My pin numbers were written in my wallet
If I might dig a little further
Did you lose money due to stolen wallet or similar?
How did they know?
1 Like
That probably constituents negligence, ask them for longer repayment terms.
1 Like
This is the negligence part. You’re gonna be contractually on the hook for it. They can make your life very difficult. The best you’re probably going to get is negotiating how long you have to pay it back and the interest rate.
8 Likes
Just jumping in to echo what everyone else has said. Don’t ignore it!
3 Likes
Ah so you didn’t have your overdraft withdrawn but someone took your wallet with the cards and pin in and maxed your account. Sorry, misunderstood. Yeah, no way out of that
3 Likes
1 Like
I misunderstood there as well
Withdrawn vs withdrawn
1 Like