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Has anyone tried Monzo

Hello,

I'm with Santander and Barclays but I was thinking about using Monzo?

Does anyone else use it and is it easy and beneficial to set up?

Comments

  • oli356
    oli356 Posts: 171 Forumite
    100 Posts Name Dropper
    Easy yes. Beneficial yes.
    Just do it :)
  • In short, yes an excellent account, easy to set up and simple to use.
    I'm not a lawyer, so this is just my opinion. Don't go acting on legal advice you get from a stranger on the internet!
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,477 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    As above, a quick search on the forums will highlight many recent discussions about Monzo. In a nutshell they are a UK current account provider with full FSCS protection. They are an app only bank but offer a decent range of perks, including fee-free overseas transactions. Very simply to open and operate an account with them - a good thing to have up your sleeve for your next overseas holiday.
  • sal_III
    sal_III Posts: 1,953 Forumite
    Fifth Anniversary 1,000 Posts
    Out of curiosity why are you looking at Monzo, instead of Starling? Both offer nearly identical features, but Interests however small and no limit on ATM withdrawals abroad make Starling the clear winner in my view, but maybe i'm missing something?
  • sassy_one
    sassy_one Posts: 2,688 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Irrelevant, given today Monzo announced a change of terms and conditions.

    You won't be charged for cash withdraws in any EEA anymore.

    Personally, I'd choose Monzo over Starling, as Starling are a awful company regards freezing accounts more often than Monzo.
  • EarthBoy
    EarthBoy Posts: 3,134 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 January 2020 at 11:16PM
    sassy-one wrote: »
    Starling are a awful company regards freezing accounts more often than Monzo.

    How did you arrive at that conclusion?

    I think you'll find the opposite is actually the case. There have been several reports in the recent press about Monzo unfairly freezing accounts, and they were featured in an episode of Watchdog last year. I can't find any press reports about Starling freezing accounts.
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