Starling Feedback

:thinking: now where have we seen that lately?

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that password/pin system on starling app is so incoherent - it winds me up when I want to do things quickly.

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I’d like to think that if monzo had another way to cover the atm costs that was fair they would remove or reduce the fee further. Nothing seems set in stone with them but who knows.

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I wonder where that is happening? Nope can’t think of anywhere off the top of my head.

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Isn’t that the point though? They couldn’t cover the costs of something they promised, because they weren’t/aren’t making enough money.

People criticise Starling for not pumping out features like Monzo is doing, but Starling should have a business model which is sustainable, and guarantees the customer doesn’t suffer.

I’m impressed by the rate of new features coming out of Monzo in the past few months - But facts are facts - Customers were lured in with a promise (free international withdrawals), and then when people were on board, they changed the rules.

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lol good to know that Starling will never change any of their charges , fees etc etc :slight_smile: :slight_smile: or have they already changed the overdraft fees for some ???

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Well, I can’t comment on the future - But I can comment on the facts.

No idea about their overdraft fees as I don’t use one - What changed?

“and then when people were on board, they changed the rules.” implies that Starlings rules are set in stone and Monzo duped people doesnt it ?

did Starling not change from 12 or 13% from previously arranged overdrafts to 15% for new ones - shouldn’t everybody be entitled to 12 or 13% as that is what they started at ???

Yeah but that’s for new customers which is fair enough not changing it for old and new customers alike.

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It implies Monzo duped people, because they did. It makes no reference to Starling.

It was also a major selling point for Monzo.

As for Starling changing their interest rate - I don’t know, like I said, I don’t use overdrafts.

However, the change that they made is incredibly minor in comparison. You can compare the principle, sure. But not the example.

And as @patrice58 just said - Old customers have not been affected.

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OK … its apparently fair that some people have different rates for overdrafts and as I said Starling have changed their rules… tomato, tomatoe :slight_smile: :slight_smile:

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If Monzo kept free international withdrawals for existing customers, but new customers were subject to the new rules - Then fine. I don’t think anyone would have any complaints.

In the same way I don’t have complaints about people who are on old O2 contracts who get a better deal than me… Or old Starling customers who have a very minor percentage difference on an overdraft.

Enticing customers in with a false promise (one of your major selling points), isn’t great.

I don’t expect you to agree, and appreciate why you are fighting Monzo’s corner.

I wan’t both banks to succeed, and I’m a customer of both.

This forum is incredible in how it defends their banks mistakes, whilst criticising others.

Kudos to Monzo for generating such loyalty.

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" This forum is incredible in how it defends their banks mistakes, whilst criticising others."

and that is such a common accusation by Starlings loyal customers - ironic eh :slight_smile:

if we are dealing in facts is it correct that Starling have changed their interest rates for overdrafts to suit their business model ?

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For me personally it’s ok for a young startup to experiment with different business models to figure out what the best approach is and to change things as the business evolves. If they change something that is unacceptable to me I will move to someone else, so far I can live with the foreign ATM charges though. I’m only out of the country a few times a year and have another card that doesn’t charge anything for those times :wink:

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I’m a fan of both banks - I was with Monzo back in the Mondo days.

The fact you are trying to make out that Starling changing their overdraft interest rate by 2% for NEW customers (old existing customers being unaffected), is the same as what Monzo did to ALL customers is rather amusing.

We obviously disagree, and I don’t want to repeat myself - People can make their own mind up what they think, and as @SeMond pointed out - If a customer is unaffected by the change, they won’t care.

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As the market alters and interest rates change I would expect them to change their interest rate up or down

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neither do I want to repeat myself , all businesses are entitled to change their T and Cs and if the new T and Cs don’t suit , don’t use it

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Or to reflect the reality of the interest rates on the market changing :woman_facepalming:t3::woman_shrugging:t3:

It is a bit like Monzo tweeking a charge from 45p a day to 50p a day or saying instead of 2.75% on withdrawals we will have 3%…It is not like they are going from Zero to 15% all of a sudden!

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It’s called a debate, you just happen to be on the other side.

Welcome back to 2017 :wave:t2:

I don’t know how long you’ve been around, but Monzo made it very clear why they changed it. Monzo admitted they grew far faster than they expected (which even meant they needed an emergency cash injection from Passion Capital). Some of those “existing users” signed up to only abuse the ATM withdrawals. Withdrawing multiple thousand pounds per month, travelling for many consecutive months at a time, and then discarding the card.

I fully believe they expected to grow slower and be able to manage these fees until they got to profitability. But they grew way faster than expected. The fees were a way of mitigating that cost.

If you want to be cynical and believe it was bait and switch, thats your choice. But telling other users “This forum is incredible in how it defends their banks mistakes” when you clearly just have a cynical opinion (towards the bank of the forum in which you write), is quite strange.

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I totally agree as the market changes you adapt your business, as interest rates rise , overdraft and savings rates should rise , some businesses change their interest some don’t its a commercial decision made by the company

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