PayPoint is instant. However with the Post Office it seems to take a whole day before accounts are credited (at least in the case of Lloyds and TSB), but maybe main Crown Post Offices are quicker than the regular non-Crown Post Offices?
Useful insight - thanks.
It is clearly ridiculous, when Starling issues full bank accounts with individual account numbers and sort codes, that cash should take 24 hours to be credited. Especially when Starling have made a big deal about signing up to Faster Payments, and selling connectivity to this system for third parties too. Why would people not just keep their legacy bank account to pay in cash instantly and then use FP to credit across, also instantly. This defeats Starling’s push to bring customers away from legacy banks. I hope Monzo create a partnership that credits accounts instantly.
Where the Post Office provide cheque deposits for other banks, nothing is done electronically apart from giving you a deposit receipt. The cheques are still posted to the bank concerned thru Royal Mail. Only difference is it goes in one of their envelopes not yours!
Contrast that with deposits via a NatWest agency agreement. Their stamping a deposit book or printing a receipt is proof of deposit compared with the Post Office receipt which is just provisional and subject to checking. NatWest machine read the OCR strip on the cheques and as long as done before 4pm the clearance period starts from that day (the next day if done after 4pm) whereas with Post Office counters receipt of cheques they spend a day or two in the post before the recipient bank processes them.
I wonder if you can use RBS as well. Otherwise, what are customers in Scotland supposed to do?
That has been raised in their Starling Slack channel. No, you can’t use RBS / Ulster / Drummonds / Coutt’s branded branches, only NatWest ones can be used. So they have said that they will now chat to NatWest about that issue
To be honest I’ve ditched Starling and gone back to Monzo, after about 3 weeks. No catagorisation, no spending targets, no monthly summaries, daily ‘pulse’ next to useless compared to Monzo’s monthly predictive graph, no instant updates to transactions (you have to swipe up, THEN pull down), no icon badges, no maps, no logos, notifications VERY flaky (have had to reinstall the app twice to reboot them, and still failing sometimes) and are not as instantaneous as Monzo, no Monzo.me feature, no way of sending out instant recommendations to use the app. No developer community. As far as I can tell they’ll be playing catchup to Monzo for a long while, and it ain’t worth it for 0.5% interest. Far too corporate for me.
Where Starling HAVE got it right is the overdraft control, and charged by interest rate, not flat-fee. I know Monzo have yet to announce their charging structure, but I’m hoping to god they also go with a % rate, not 50p a day, which doesn’t discourage going deeper into an overdraft and works against someone like me who dips into an overdraft by only a little very occasionally.
They do have a Slack community for developers
I meant for us normal ‘customers’, much like this one.
One other thing i’ve noticed which bugs me.
Say there’s a balance of £100. I spend £50 and get a notification i’ve spent £50 through message centre on iOS.
BUT when I open the app it still tells me I have £100 available - it can be a minute or so before it updates.
Separately there is a login bug currently.
I get logos when I spend with starling… not sure why you wouldn’t?
The app is very basic, clean and easy to use! I’d say this is ideal for the older generation if they wanted mobile only banking
Only thing I dislike is the lack of direct debit information on android,however they plan to update it soon.
Actually checking the app again today they’ve retrospectively added a lot of icons. Sainsbury’s and Marks & Spencer both conspicuously absent.
The crux of the matter is: Is there anything they do better than Monzo? For me, not at the moment.
Well other than have full accounts open and public the main obvious one.
It’s the same with monzo if a logo don’t appear, talk to support who will add it. I’ve noticed if I’ve paid for something at a shop I’ve not been to before and it’s in a pending state it don’t show the logo till it’s completed.
I’ll be using both monzo and starling without a doubt. I’m using home bills on starling (paying rent, sky, water, etc) monzo will be my money to play with
Looking more like every day.
That’s more like revolut, the layout too.
I mentioned before this is how monzo should have layouts as it’s a pain in the bum scrolling through everything to get to the month (Android only)
Ha, they should be paying Hugo a commission!
Well, most app layouts are familiar.
No winning is there? Monzo need to pull finger out and launch current accounts. 2018 is very close
Starling aren’t doing much wrong at the moment. Faster payments in and out are lightning fast. Although I joined Monzo first, the latter’s current account offering will need to be something out of the ordinary to lure me away.
Whilst I might keep my Monzo card in my wallet, it’ll be unlikely I’ll use it as well as my Starling card which, I understand, has the same FX benefits.
The Monzo user forum is of course, second to none and why Starling haven’t set their’s up yet beats me.
I’ve just switched to starling yesterday. This weekend was the last straw for me and my Nationwide account. I’m sick to death of charges appearing days after. It’s making it very hard to budget.
I can’t really fault my experience with Starling so far. Everything has been lightning quick with setting up the account. The current account switch service works great. I went for the partial switch and it was super easy to tick all the direct debits and standing orders I wanted to bring across. Only slight disappointment is my debit card is going to be a few days yet.