Starling Feedback

Free ATM abroad :grin:

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It’s 2018 mate. I struggle to see why you’d need more than 200£ worth of cash unless you’re doing shady things/paying shady people.

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Let’s not start that debate again :+1:

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You may legitimately want to minimise what your bank knows about your spending habit. Doesn’t mean it’s shady.

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Starling have been vocally proud that they’ve implemented a totally automated switching service into their system.

It’s surprising they can’t intervene manually though.

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Bringing this over here.

Starling have announced £459m in transcations in one year, but still don’t release user numbers. I’d be absolutely fascinated to know them. I wonder if we can work it back from average spend per capita?

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Interesting to see the total spend compared to Monzo’s etc

What was the last Monzo total spend? I can only see from last July and I was convinced I’d seen something more recent

Not really. I wonder what Monzo’s spend will be after one year of the CA

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I think this was the latest one posted, (also included previous year).

For the Year 2017 https://monzo.com/blog/2018/01/05/2017-in-numbers/
For the Year 2016
https://monzo.com/blog/2017/01/06/year-in-numbers/

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We’d also need to take into account the average incomes of Starling customers, as the more the income the more people tend to spend, so that would affect the result. I remember a Monzo talk when Tom Blomfield said the average salary of Monzo customers is somewhere around twice the country’s average, and I suspect Starling would be around the same for now.

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200,000 -250,000 ish users if their spending patterns are the same?

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I pay £200 cash on a Friday and again on a Saturday night :man_cartwheeling: :man_dancing: :eyes:

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Yes, so basically impossible to try.

But let’s try anyway. :stuck_out_tongue_winking_eye:

This article says the average household spends roughly £600 per week in London. Let’s say that’s two people, so £15k each per year.

That’s 30k customers.

I was going on monzo having 404,000 new customers and spending 1,052 million in 2017 compared to starlings 459 million spend. Variables are existing monzo users

Except it doesn’t say 1052 in 2017…it says spent, ever.

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I should never try maths at this time of night

Subtract 86 million from previous year :yum:

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Mind u 2016 was 86000000 so it makes not much difference

Makes sense, as the last verbal estimate I heard for Starling from someone who had been on the RBS Williams and Glyns team was 275,000

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Why RBS would be privy to that kind of data is beyond me, but ¯_(ツ)_/¯

For me, if they’ve gained 100k+ in a month, it would be very hard to believe.

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