Why do you stay with Monzo?

Monzo Chat
81

That’s interesting, I’ve never been with Starling. Can you elaborate?

82

Don’t get me wrong, Starling was good - it looks appealing, the categories I think need a bit of work, they have nice summaries of vendors you spend the most money with - but your “balance” is always the exact balance you have in your account without taking into account any scheduled payments that are due.

If I have £1000 in my account, but I have £500 worth of direct debits going out, Monzo will show me my balance (or will say) “£500 left for xx days.”

Starling doesn’t have this feature, so if you’re not great with money, I would see “oh I have £1000 to spend”, when in reality I only have £500 if that makes sense?

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83

This I s a great feature very helpful also seeing all DD and standing order to go out is helpful and if I even need help they in the app just start a chat and they all ways fast to get back.

84

I have just recently made monzo my main bank and I’ve been waiting for a reply on the chat with us page for over 24 hours now. Very concerning. Anyone else had issues with no contact centre?

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85

Hi Catherine, this doesn’t sound right. I’ll send you a DM to investigate, if that’s OK.

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86

I have all ways found the chat via the app very good have answered all my questions and all ways got backing to me super fast super helpful :smiley:.

87

For me it’s several reasons:

  • Instant notifications
    My card recently got cloned and I was able to freeze it as soon as I saw a suspect “Active card check” notification. With a legacy bank it could’ve been days before I realised.

  • “Left to spend”/Budgeting
    Showing me a clear amount of what disposable income I have left for the month helps me think twice about spending

  • Pots/Salary Sorter
    Like Budgeting, being able to move money from my current account but still pay all my bills without having to worry about that end of month DD I can’t change saves me having to remember.

  • Loans
    I was able to get a fairly large size loan at just 3% compared to my legacy bank’s 10%. This saved me almost £2000 in interest

  • Support
    I’ve been able to chat to someone within minutes whenever I’ve had a problem and they’ve always been really helpful.

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88

All sorted, @Catdw93?

89

I am still here as I joined in beta and hope one day the features I want (that are with all other banks) will come here :confounded:

And please before someone chirps up “well why don’t you move then” I don’t wish to open many bank accounts as a choice…

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90

Out of interest, is there any particular feature you’re hankering after?

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91

Proper IBAN/Swift support for incoming payments and cheque imaging

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92

At the moment…the following;

  1. Instant Notifications
  2. Bills Pots/pots
  3. In-built budgeting

This list is getting smaller though as the main banks catch up…

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93

Location based security,get paid early and most importantly crap free banking.

94

I think I read that in a different way than intended :thinking:

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95

Lol I meant it’s less stuffy and more informal . :smirk:

96

These are about the only reasons for me right now (although changes to my circumstance might mean I’ll be switching to monthly pay cycle so that budget stuff might actually work for me!).

Ohh and the Hot Coral card of course!

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97

So many things

From Pots to budgeting, instant notifications

Also this forum, cos the idea put to Monzo like pots etc have changed my financial life on how I do things thanks to the “committed spend” pot.

I still don’t have ENOUGH money like everyone else outside the top 10% or whatever it is but I now know where my money has gone :joy:

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98

Strange answers guys:) Where is fee free spending abroad?:slight_smile:

99

Of more importance to travellers?

100

For the bulk of my year I am in the UK so it’s not as important to me. Doesn’t make it strange. Just not the same as you.

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