The main reason we opened (and kept open for future) was the no markup on cash withdrawals abroad and someone recently pointed out that’s a feature of FlexPlus at Nationwide which I hadn’t clocked.
There’s a few other things but that’s the biggie. I actually do like Starling (and I particularly like how they keep parity for JA’s which I pretty much exclusively use) but I also don’t like having too many accounts open so it’s time for it to go as part of some tidying up of my finances.
What’s happening with their cheque imaging, they said summer didn’t they? Any announcements yet?
Nationwide charge 2.75% on FlexPlus as a foreign transaction fee
On ATM withdrawals abroad FlexPlus doesn’t charge a fee. But it does charge 2.75% on purchases, making Starling (and Monzo) cheaper for foreign purchases.
Of course Monzo charges for withdrawals over £200 in a month, so Starling has the better value all–round card.
As Jamie said, not on cash withdrawals. Since I also use Monzo for card purchases, Starling is now an unnecessary duplication for me.
Just a follow up, it is not a 7 day process. More like 14 with a bit of chasing in there because they don’t bother actioning account closures in a timely way.
Guessing it’s too late now, but could you CASS them out to another account that you use (Nationwide?)
Probably, didn’t really think I’d need to though. Through a decade of bouncing between banks I’ve never had a closure request (Monzo included) be anything other than instant. Bizarre.
I had to contact them twice to get it closed then one more time about 2 months later to remove the open account from my credit file but it’s all done now.
& so they jolly well should… in my opinion, loyalty counts with Companies that appreciate & reward it.
Oh dear
So shopping around for the best deal in accounts and interest rates is not wise
Moving insurance or BB deals is not recommended either ?
Loyalty
Monzo and Starling wouldn’t stand a chance if we remained loyal to our original banks ?
I’m afraid it’s rare people are rewarded for loyalty these days. Especially with financial services.
I was with Lloyd’s for 15 years, what did I get? My current account interest rate gradually reduced. New accounts got a higher one, though.
I had contents insurance with them too, they put the rate up by about £30 every year like clockwork. After a few years of rate hikes, I shopped around and the original price was available to me as a new customer!
Obviously you may be on a old, excellent packaged account or otherwise that has been phased out and you still have which is great, but generally you get a far worse deal for loyalty.
Starling have released multi director and multi access access Business accounts today.
Is it just directors who have access or can it be director and employees?
That’s true. New customers are more important to them…
Starling’s new app update has refreshed the interface for payee management and making payments. It’s significantly snappier and allows ordering by recent or by name. Monzo should have taken cues from their last interface and really should just blatantly copy the new interface it works excellently.
God if I could have the payee management of Starling and the budgeting features of Monzo I’d be very happy.
Monzo’s payee system is still piss poor. It can’t be that difficult, surely?!
Is that on iOS? Looking pretty classic on Android atm…
Yup
If only! New Starling update looks very swish. I’ve got major payee management envy. I wished Monzo cared more about this