I am just unhappy in general and like they say it’s the small things that escalate in to one big thing to a point that I am now looking at moving to Starling.
Main things are Merchant Data issues, this really annoys me and should have been resolved by now not ignored and yes, I am well aware that Starling also have these issues so this point is not really valid.
The new layout, I do not like it nor do I want it after trying it. Like with everything I feel this will be forced on us like the pulse graph and look what happened to that, it took years to finally get rid of it even after we all knew is was rubbish from day one.
Bugs, I get that bugs happen but when they when they are known they should be fixed not released in to other versions (I am speaking about pot bug).
iOS/Android parity, I have been requesting for months that we should be able to move money to pots fortnightly like on Android, not for myself but a friend who is not on here but nothing.
There are more but those are the main ones.
I get that I will be giving up IFTTT etc but if I never had before with Metrobank I can do without it on Starling.
And yes the above may seem trivial to some but as I said it’s the small things that turn to big things and if something is going to be released make sure it works or at least pull it and fix it straight away.
You’ll be pleased to know I submitted a merchant logo change to Starling 2.5 months ago and it hasn’t changed.
I do prefer the layout of Monzo, but there’s not a lot between them these days. IFTTT is the big one for me though.
EDIT: (fwiw, I use Starling as a secondary account for international withdrawals, cash deposits and when I can’t use Monzo for whatever reason such as card details stolen, etc)
I don’t understand why both Monzo and Starling thought they had to reinvent the wheel here.
Nationwide has a boring and perfectly clear and usable layout, for example.
As Starling offers free cash deposits, completely fee-free foreign ATM withdrawals and a very fair overdraft, I’m surprised more people don’t use them as their primary account. I certainly do.
I don’t think that cash deposits are a big deal for a lot of people. Perhaps more so for those working in cash-in-hand jobs. Bear in mind that I’m writing this from the posh south, perhaps I lack some perspective.
I don’t use overdrafts ever, and haven’t deposited cash into a UK bank account for years, so the only advantage over Monzo for me, it’s the withdrawals abroad, which I do use occasionally once my £200 limit with Monzo has been reached.
I prefer Monzo’s app and I’m also an investor so I want Monzo to succeed. So I’m full Monzo and use Starling as secondary account for the occasional extra withdrawals abroad.
Even if I never used overdrafts, foreign ATMs or cash deposits, for me it’s the ethos of the bank that I like. The fact they give the consumer these things for free, or with fair, low charges, makes me like them.
Apart from that I’ve always preferred the app - it looks more “grown up” to me, but perhaps I’m just showing my age
One example is the Starling overdraft. Apart from the fact that the overdraft APR is competitive when you look at what’s on offer from the competition, they take any money you have reserved in Goals into account. That is, if you have £100 in a Goal and go £50 overdrawn on your main balance, they consider you to be £50 in credit overall. Monzo ignore money in Pots so in the scenario above you would be charged 50p every day you’re overdrawn, despite any money in Pots.
For me, not only are the charges low with Starling, they have a much fairer policy when it comes to calculating overdraft fees. Hence, “fair, low charges”.
Fair enough. I misunderstood what you were saying and read it as you saying “charges which are fair because they are low” rather than “charges which are fair and are also low”.
How are Starling doing from a monetisation perspective? I too think their offering is incredibly competitive and generous, but have always wondered if they’re ever going to turn a profit?
AFAIK their business services - banking-as-a service, payment services, etc. - are excellent revenue streams that mean they don’t need to claw back a few pounds here and there from personal customers. A very smart business model from Anne and her team.
