£2 over the buffer, I don’t count the first £20 as overdraft as I don’t get charged
Apologies, I misunderstood
Firstly it’s Kool-Aid
You, and many others, may not agree with the overdraft charge system but it’s better than most and not as good as some. No, it’s not Starling’s rate but do we want all neobanks to mirror each other exactly? Isn’t competition and different business models what we want?
You can read headlines about profitability and directors pay but did you read beyond the headlines? Share options and huge reduction of costs for new users?
You point out the foreign ATM charges and the card top up issue which cost huge amounts after saying they aren’t good at making a profit. So do you or don’t you want them to be profitable as you have contradicted yourself there.
At the end of the day if they don’t live up to our expectations the customers will leave, but I haven’t seen anything that makes me think they won’t
Comments like yours make me wish for a dislike button. So much negativity and cynicism. Yikes.
Before you write another post telling us about how naieve we are & that you know better, I’d recommend checking your facts because you’ve got almost every comment (overdraft rates are equivalent to borrowing £1,300 from Starling, ATM withdrawals fees are higher than the other challenger’s etc.) in that post wrong.
I am constructively critical of Monzo all the time.
I’ve taken Monzo to account for their overdraft fees (which @tom personally replied) and the flaky account overdraft terms and conditions (which @tom also replied). I don’t think the next set of fees - for cash deposits - is correct and will be critical of that when it arrives. Monzo didn’t change anything because of my constructive criticism, but I personally got the answer I wanted in response and must allow Monzo to make (what I think) are mistakes and then hopefully change them in the future, i.e. the government is already thinking about banning fixed overdraft costs etc.
That being said, Monzo has so many positive points that I still use them with enthusiasm. It doesn’t mean I won’t bring them to account if needs be.
I thought your first post started off well and had some justifications, then promptly veered off into really negative territory. It seems like a complete 180 from the first post, which judging from the likes you did get a few supporters!
Lots of people expressed their misgivings on the overdraft thread(s) before with their own personal experiences without resorting to mudslinging/ assumptions. Your words seem to be all lip service- despite claiming to be concerned about users on here most of the vitriol seems to be aimed at us! It’s difficult to convince others when you’re insulting everyone.
Funny, I only know one person who spells it like that.
I just don’t get it… if you accidently dip into your overdraft then move money from somewhere else to cover it. If you don’t have that option then you’re getting charged for emergency credit to get you out of the crap. Surely it is as simple as that?
If you’re smart, you could even fund getting back in the black at Monzo with a Starling overdraft. If that’s gonna save you money and you’re happy to do a bit of work then go crazy and do it.
Monzo have been very open that their overdraft fees are currently 50p a day. The last I saw (and I don’t follow overdraft stuff here very closely, so I may well have missed stuff) was that they will always be open to new ideas and pricing for it. So if it’s not working, I’m pretty sure it would change, as you said yourself…
Have I missed something? What happened today?
Trello joined the forum
What are the key differences between Monzo and Starling? I looked at Starling app screenshots and must say Monzo seems to have a lighter, more appealing and easy on the eyes App. I wish there was a dark mode in Monzo though.
There’s a topic for that check out the feedback in this thread -
That thread is not a good read I am sure it would have some useful posts but most of it is like a ‘pissing match’
That’s just how it goes in these communities generally I’m afraid. If you ask here, most people will tell you to go with Monzo & if you ask in Starling’s community, they’ll recommend Starling if you’re switching from one of the high street banks, both are far better than what you’ve been used to using until now.
If you want to see what regular users say about Monzo, I’d recommend https://twitter.com/monzolovetweets.
I hope you make the right choice (for your sake )
Thanks for your concern but you don’t have to burden yourself for my sake
I can’t use twitter I am afraid but appreciate your comments.
You can still view the tweets without logging in
Don’t bother with Twitter. It is a trolls’ nest
Twitter is amazing if you’re into FinTech, just be careful who you follow
Starling has a nicer app and more features, but absolutely legacy customer service (both in terms of technology - Zendesk chat is horrible - as well as service).
Recently had my brand new business debit card potentially compromised and they couldn’t even tell me where it was used - a TfL transaction cleared on Monday and the app said “contactless” when I only ever used Apple Pay (and other transactions show Apple Pay as the payment method) so I was obviously concerned. Asked them when was the card initially touched-in and the fun started - one advisor told me it was 4am on a Saturday (which coincides with the presentment time of an earlier, legitimate TfL transaction and properly says “Apple Pay” so I suspect a mistake there), others told me they couldn’t see that and I had to register on TfL’s website (good luck doing that when you already cancelled the card). Another advisor first told me that transaction was contactless (matches what the app says) but then backtracks and says Apple Pay (why doesn’t it say so on the app like for the other transactions then?).
And the worst is that they still spam you with emails asking for feedback after every single interaction with their CS.
Now I could probably make a complaint, waste more time, get an apology and Starling-branded socks in exchange, but frankly I don’t care. They already had more than enough feedback & complaints, they don’t seem to care. I just plan to use this account for receiving & originating FPS payments and funnel the bulk of the money elsewhere. But it’s always nice to see a “bank” that can’t even tell you where & how your card was used. I know TfL processes transactions differently but it still doesn’t explain why would a transaction show as contactless while the other ones were shown as Apple Pay - in the end I still don’t know whether my card was actually used fraudulently or is this just one of my earlier payments that got delayed.
Hi All, moved your posts here as it’s more fitting with the topic, hope you don’t mind.