Starling Bank Discussion: Part 2

Android got the changes to Spaces several weeks before iOS did, so it would appear that it isn’t unusual for one platform to get a new feature before the other.

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These surveys are subject to all sorts of bias.

Monzo let you freeze your card instantly in app vs High Street Bank who makes you phone up and speak to customer service

Even if HSB answer the phone really quickly and are very polite, I’d argue that monzo provided the better customer service, even if I never actually spoke to them.

Tell me about it… and :monzo: goes that extra mile by showing :android: users what they could have won if they were on the :apple: platform in Labs:

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Unless freezing means a different thing with Monzo, many High Street banks offer this in-app now.

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Doesn’t sound like you’ve ever spoken to them then. On the phone their sole job appears to be to push you to other support channels rather than help you. It’s not like they offer telephone account servicing in any way. My personal experience and a family members also. This isn’t just for Monzo though because Starling is the same in that regard.

At least if you called a more traditional bank they’d actually do what you needed them to do. With HSBC and RBS you’d just need your voiceprint set up and then you’re authenticated to a fairly high level in terms of account servicing.

Plus you mentioned card freezing, I think most of the high street banks have been on that for a while now and some even offer instant notifications which is always a bonus. Not quite as instant as Monzo or Starling though.

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On the topic of Starling’s long-awaited credit card, Boden told AltFi that the bank is now actively in-testing with an SME credit card, but declined to comment on when it would launch.

“We have built our own card processor, and we have a huge amount of technology available to process card transactions.”

:eyes:

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This is potentially the most interesting thing here… :eyes:

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Thanks for the info.

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SME credit cards = chasing interchange

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To be fair, the days of whatever company they were using in the past where it always went down seems to be way in the past now. It hasn’t happened for quite some time.

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I doubt that, as debit card use is no longer Starling’s biggest earner.

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I noticed Starling have had a bit of a social media campaign aimed at existing Tesco Bank customers this morning. Nothing major just a ‘Tesco Bank Customer? You could open a new Current Account while you’re having a coffee’ post or two on various platforms.

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I was wondering if Monzo was going to try and go after some of them when I heard the news, but I haven’t seen anything similar from them.

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I wonder if @Gaoler is referring to the fact that the interchange fee on business credit cards is not regulated and so often much higher (3–4% I think) than for personal cards.

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Starling :bank: recently updated payment facilities UI :eyes:
Not big improvements, still was reordered :grin:

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I like to see the summary at the end of every month :nerd_face:
It very clear to understand and nice UI :blush:

I’ve been with Monzo for years now and always been very happy with the service, but I’ve noticed recently that I’ve had to contact support more frequently about issues I’m having and the quality of the service is much slower and far less helpful than in the past.

Then I’ve been worried about the last few quarters of Monzo’s financials, losing a significant amount of money each time and reporting “material concerns” and needing to raise extra capital just to survive.

The story was the same last week, with the same statement of needing to raise cash just to survive. Also there’s a new FCA investigation into a supposed money-laundering issue.

I’ve also seen that the daily cash withdrawal limit has been reduced to £400 a day which really sounds like a preventative measure to stop a run on the bank.

With an outlook that’s so rocky right now, I just need more security from my bank so I switched to Starling based on Which’s highest recommendation. So far, I’m really pleasantly surprised at how good they are and their business fundamentals are in a completely different league to Monzo.

Maybe I’m overreacting, but for me, safety is the highest priority and Starling just seem like a safer pair of hands than Monzo, as sad as I am to leave.

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I think the preamble was really unnecessary, off topic here, and could’ve been summarised in a sentence if you really wanted to say something. With the added bit of speculation at the end of the quote above really makes it seem like you decided to post again after two years for some good old fashioned Monzo ARA scaremongering, as predicted in the other topic

Hope you enjoy Starling

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I’m really sorry I offended you so much with my opinion.

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You didn’t offend, it’s just more of the same ramblings for yet another Monzo vs Starling argument.

Someone comes and corrects you, then you argue back, it’s incredibly tiresome.

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