On the monzo announcement thread the COp said that these figures are suggested limits
Yeah, Iām trying to work out how the 150 euro is dealt with by other currencies. That amount is probably going to be worth Ā£120 in potentially a few weeks time from the Brexit nonsense, do they re-adjust the limit at set intervals?
It doesnāt affect me, but I can this causing headaches for both merchants and customers whilst doing diddly squat for fraud. I bet Google and Apple are rubbing their hands together on all the new commission from people using their phones to get round this.
Surely thereās another supplier that does what GPS does?
And surely GPS know how quickly their providers are growing? Presuming thatās whatās causing issuesā¦ rather baffling.
3 Likes
When Revolut move off GPS they might have a brief window where it looks like there is some stability, like there supposedly was after Monzo moved off them. And then Starling or Curve grow further and it rinses and repeatsā¦
Hey Guys, I came across Starling bank some days back, As I wanted to desperately switch from my TSB Business Banking to something advanced/new and mainly for Free banking 
as my TSB started charging me a lot. I was stunned to see the outstanding Starling performance for my business, its FREE, exciting UI just like Monzo, and Txns automatically pushed to FreeAgent for accountancy and I also opened a personal account in a One click, They give interest on your credit balances in your personal current account, their debit cards are way cooler than anything I have seen in ages, no embossing numbers and the details are on the back of a card. There is not a single thing Starling canāt do which Monzo is currently doing.
Personally I felt Starling was much much better than even Monzo. I have been using Monzo too but Monzo does not offer ay interest on positive balances and I heard their business banking also charges monthly. As now I am thinking of closing down my personal account with Monzo as I feel Starling is a clever choice for me.
I just wanted to hear other peopleās thoughts on this.
4 Likes
Personally I think Monzo is āmuch muchā better than Starling , but its great to have the personal choice isnāt it, and if it suits you betterā¦ great personally I find interest on virtually instant access accounts to be much much better than starlings 0.25% , but if you are happy with 0.25% great.
GPS would also be decider for me , search transaction functions I also like.
good to have such āchallengersā keeping the older banks up to speed
4 Likes
Theyāre a pretty good alternative to Monzo. Monzoās business banking seems to have gone on pause for new customers and like you say there will be a charge, unlike Starling.
Personal account wise, for me, monzo still breat them. Monzo have saving pots to stash money where you can earn almost three times the interest as Starling.
The other two key features for me are Summary where my months are broken into pay day months and being able to pay bills from pots.
Other than that, theyāre pretty similar.
Theyāre both still young though so why not keep both accounts open? I made the mistake of switching out of my Starling account and got locked out for 12 months. Iāve still not give through the effort of trying to reopen it 
(edit) also worth considering the posts above yours, they have card payment issues due to their reliance on GPS. I had hoped they would have moved away from them by now 
Yeah, youāre right. I should not rush to close Monzo just yet and should keep both accounts active and see how this competition goes But yeah its good to see more alternatives these days as compared to traditional banks.
1 Like
Two Monzo features I find extremely useful that I donāt think Starling support yet (could be wrong as itās been ages since I opened the app):
-
shared payments features I use all the time for managing shared costs etc with my wife. I donāt think Starling has anything like split the bill or shared tabs?
-
budgeting
I also donāt find the interest to be worth anything as itās so low. I had some money in my Starling account for a while (a few hundred over a few months) and made a few pence here and there in interest. It basically made zero difference, and there were far fewer features that I needed (at the time, as well as the above features, you couldnāt add notes to transactions).
2 Likes
Starling interest is 0.5% for balances of up to Ā£2,000 and then 0.25% up to Ā£85,000 
1 Like
Monzo definitely has a better interface but despite this I use Starling a lot more.
1 Like
Putting that in context: Ā£2,000 credit balance for one year nets you interest of Ā£10. (If my maths is right?)
Thatās due to change soon
ā¢
If itās 0.5% AER then the amount youāll get will be less than Ā£10 because the monthly interest gained will take you over Ā£2,000 and so will only get 0.25% not 0.5%
2 Likes
Correct. But then you might as well just smash it in Dozens if you want the interest.
Youād still get at least Ā£10, not that much more though. The 0.5 would be applied on 0-2000, and 0.25 on the amount thatās over the 2000.
So at the end of one month youāve made 83.3ā¦p
0.5/12/100*2000
Youāll then get another 83.3ā¦p from the Ā£2k plus 0.25/12/100*0.83ā¦ in month two.
If only inflation wasnāt a thing.
2 Likes
Indeed taking that Ā£2000 example and 3% inflation over the next year the equivalent would be Ā£2060 needed just to buy the same stuff.
So keeping it with 0.5 your still losing out by ~Ā£50 if you put it with Dozens 5% bonds youāre gaining ~Ā£40.
Iām still waiting for Dozenās bonds to appear
1 Like
Dozens and the magical mystery bonds!
2 Likes
Nationwide for now 
https://www.nationwide.co.uk/products/current-accounts/flexdirect/features-and-benefits
1 Like