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  • FIRST POST
    • MSE Luke
    • By MSE Luke 12th Oct 16, 4:53 PM
    • 253Posts
    • 63Thanks
    MSE Luke
    App-based banking is this the future?
    • #1
    • 12th Oct 16, 4:53 PM
    App-based banking is this the future? 12th Oct 16 at 4:53 PM
    'The future of banking, available today." That's the bold message adorning the homepage of newly-formed Atom Bank...'



    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
    Last edited by MSE Luke; 20-10-2016 at 3:15 PM.
Page 2
    • No_6
    • By No_6 17th Feb 17, 10:24 PM
    • 517 Posts
    • 99 Thanks
    No_6
    So all you lot that don't use phone apps ?
    what do you use for your accounts/package/budget...etc
    some phone thingy or pen and paper for 1 or 2 accounts ?

    what happens when you get 20 plus accounts .
    • antrobus
    • By antrobus 18th Feb 17, 4:58 AM
    • 15,300 Posts
    • 21,845 Thanks
    antrobus
    So all you lot that don't use phone apps ?
    what do you use for your accounts/package/budget...etc
    some phone thingy or pen and paper for 1 or 2 accounts ?

    what happens when you get 20 plus accounts .
    Originally posted by No_6
    Excel.

    There are alternatives.
    • geek1981
    • By geek1981 18th Feb 17, 10:05 AM
    • 174 Posts
    • 32 Thanks
    geek1981
    I've been using Monzo for sometime now and find their app very user friendly with lot of useful options for budgeting, requesting payments from friends etc.They are getting direct debt and current account soon and then i will not need any big players for my daily banking. Also use Revolut when i travel which is similar to Monzo and they arelady have partial current account with sortcode & account number. This is the future for sure!
    • boliston
    • By boliston 18th Feb 17, 11:06 AM
    • 2,458 Posts
    • 2,020 Thanks
    boliston
    So all you lot that don't use phone apps ?
    what do you use for your accounts/package/budget...etc
    some phone thingy or pen and paper for 1 or 2 accounts ?

    what happens when you get 20 plus accounts .
    Originally posted by No_6
    Quickbooks works fine for me - the version I have is about 20 years old but it still works just as well now as it did 20 years ago.
    • mt99
    • By mt99 18th Feb 17, 12:55 PM
    • 453 Posts
    • 220 Thanks
    mt99
    a bit like when internet banking on the desktop came out - lots of 'not going to use that new-fangled stuff much better to go to the branch....'
    • JuicyJesus
    • By JuicyJesus 18th Feb 17, 1:16 PM
    • 3,053 Posts
    • 3,167 Thanks
    JuicyJesus
    a bit like when internet banking on the desktop came out - lots of 'not going to use that new-fangled stuff much better to go to the branch....'
    Originally posted by mt99
    See THAT I will never understand. There is literally no possible sense in which I will go to a branch unless I actually, genuinely have to.
    urs sinserly,
    ~~joosy jeezus~~
    • Rosemary7391
    • By Rosemary7391 18th Feb 17, 1:33 PM
    • 1,836 Posts
    • 3,191 Thanks
    Rosemary7391
    So all you lot that don't use phone apps ?
    what do you use for your accounts/package/budget...etc
    some phone thingy or pen and paper for 1 or 2 accounts ?

    what happens when you get 20 plus accounts .
    Originally posted by No_6
    A spreadsheet, and I won't! If your hobby is keeping track of so many accounts, fair enough, but it isn't for many.

    I'm not overly keen on accessing banking from my mobile phone. It's too easy to lose, and I don't think any device that's physically in the hands of someone else will remain secure. Also, much more vulnerable to shoulder surfing type things. I have better things to do whilst standing in queues than shift money from a to b anyway. 24hour banking at home does me nicely, and I need the option to speak to a real person because apparently my situation is a bit complicated...
    Me escondo detras de mi lengua... tengo miedo de que me entiendas... pero me gustara que me entendases Ayudame!
    • eDicky
    • By eDicky 1st Apr 17, 12:41 AM
    • 2,980 Posts
    • 1,311 Thanks
    eDicky
    A more comprehensive article:

    http://www.bbc.co.uk/news/business-39290041
    • lytefantastic
    • By lytefantastic 28th Jun 17, 2:01 AM
    • 19 Posts
    • 1 Thanks
    lytefantastic
    Atom Bank problems. I am having a terrible time with the 2% Atom Savings account. 2 days ago I deposited the minimum 50. The app will not work for me. No facial or voice recognition. It takes an age to do anything. Even chat support takes an age and the support people log off because my messages take an age to transmit. I asked for my money back but they refused. DO NOT GIVE ATOM BANK YOUR MONEY.
    • Majestic12
    • By Majestic12 6th Jul 17, 9:16 PM
    • 137 Posts
    • 55 Thanks
    Majestic12
    I am very in-tune with technology, apps etc...However I am still sceptical about app-based banks, even with FSCS protection. Whilst I don't ever (or need to) visit a branch, I just feel my money is...safer with an established bank.

    I'm open minded and I hope my opinion changes over the coming years, but not sold on it yet.
    • takman
    • By takman 6th Jul 17, 11:19 PM
    • 2,907 Posts
    • 2,424 Thanks
    takman
    As I have said before apps are much more secure than accessing banking on your computer.

    Once you setup a banking app it cam only be used on that one device. Even if some see is you typing in a passcode to access it they would still only be able to access your account from that one device.

    If you access your account from a computer and someone intercepts your login information (keylogger, phishing etc) then they can use that information to log in from ANY computer.

    So by just using a computer your actually using a less secure method of accessing your account.

    You also have the benefit of doing your banking when you have a few minutes spare during the day. This means you use your time much more efficiently and have more time to do other things.

    Also the majority of smartphones cam be remotely tracked and fully wiped of all data if they are lost or stolen and alot also have biometric security.

    But I do agree that apps need to be well designed and some are pretty awful to use.
    • curlycat
    • By curlycat 13th Sep 17, 3:07 PM
    • 34 Posts
    • 36 Thanks
    curlycat
    hi, nope, I don't live on my phone. I do have paper and pens, and spreadsheets. I find most 'apps' are not as good as computer based programs and I don't fancy losing my phone and it having my life on it.
    I use my phone for communication, ie messaging, actually talking to people you know things like that ?
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