Reply With QuoteI started using them before they became a bank ( Pre-pay Card) & been aware of the various crowd funding rounds they have done.
It's not my main bank but its one i still use a lot for just day to day purchases & Starling is another one.
Anyone use them?
One million users and growing by 2000 per day apparently.
I've just switched to them last week and personally really like it... very simple and straight forward. The 1% interest rate was my initial draw of course, but the app is very helpful and user friendly.
I started using them before they became a bank ( Pre-pay Card) & been aware of the various crowd funding rounds they have done.
It's not my main bank but its one i still use a lot for just day to day purchases & Starling is another one.
I was with them from their early days, and now my wife(plus a joint account), children and friends are all with them, and very happy. We all mainly use it for travelling.
Just opened an account and also one with N26 (but this is still in beta). Going to give them both a try for six months and then stick with the best.
Flitting between Monzo and Starling.
Each have their plus points but I use Monzo more for reasons I can't quite figure out.
Both far superior to my Smile account which despite being the 1st internet bank way back in the late 90's now feels so old fashiioned and clunky.
Edit: A referral code from someone with an account will give you £10 if you open an account. No benefit to me (or other monzo user) just for the new account opener.
Last edited by acg; 12th December 2018 at 15:51.
I've been with Monzo since October 2016... I'm member 58000 and something.
Not quite ready to make them my only bank, although I don't really know why.
The app and instant notifications are excellent, as is bill-splitting and transferring money to other Monzoids (I made that up !).
Been with them from the start - great service, no issues so far.
When you look long into an abyss, the abyss looks long into you.........
I use them…
But, have Nationwide for main account as I want all the bundle insurances and free money withdrawal abroad…
Mainly use it on holiday and to send payments (as it’s easier the faffy way required on Nationwide
I've just signed up for Monzo, might just try it for spending money plus the interest rate seems decent - I figure there's no harm in giving it a go, can always bin it if I don't like it or don't use it.
Last edited by Cool Hand Luke; 12th December 2018 at 16:39.
Been with Monzo since January and use it for my spending money, it is really useful for seeing what you spend on incidentals. All other banking done with normal high street bank.
Interesting to hear that we still prefer to bank with the high street. Especially since nobody has anything but positive experiences with Monzo.
I'm the same and I have no logical explanation why. I have 2 savings pots with them, but for some reason I'm hesitant to give them my current account? I'm close though. They're FSCS protected, so I know my money's as safe as any other bank, I just have this illogical hesitance.
You can’t draw out more than £200/month I believe. That is enough for me to stay away. If it’s my money I want to be able to retrieve as and when I want.
There are limits from atm (although higher than £200/m) but I can walk into the branch or at the PO and retrieve what I need.
I could consider online banking for business but they don’t seem to do it.
'Against stupidity, the gods themselves struggle in vain' - Schiller.
The £200/month is just overseas atm’s and the amount that is free of charges. You can draw what you want abroad after that for a 3% fee.Originally Posted by Saint-Just
No limits to withdraw in the UK.
edit - think it is £1000per day but can be more by requesting in app
Yes, thank you. I tried to be brief and as usual it meant an inaccurate post. I spend a decent amount of time in France or for work in Europe and it isn’t exactly convenient.
I understand there are ways around the problem but I don’t feel the need to switch as things are. It may come, but I may be too old for that.
As an anecdote, when I moved to this country over 20 years ago I was literally speechless when a banker told me «*the computer says no*» for the first time. I had just left France a couple of months before, and had had lunch with my banker (she paid) to discuss the different possibilities I had in terms of long term investments vs taking funds with me, and to hear someone relying on a machine to dictate their answer was... 1984-esque.
'Against stupidity, the gods themselves struggle in vain' - Schiller.
It's funny - I've been with Monzo since the start and I am an investor but some for reason I cannot make the shift to having it as many main account. I tend to use it as my petty cash account...
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