"If app-based saving isn't for you..."

eskbanker

Daliah said:

EdSwippet said:

dunstonh said:

Another generalisation is that many focus on the quality of the app and not the terms of the savings/investment. i.e. how good the app is trumps how good the product is.

⭐⭐⭐⭐⭐ - Excellent choice of colours
⭐⭐⭐⭐⭐ - Easy to install
⭐⭐⭐⭐⭐ - Fast facial recognition login
⭐☆☆☆☆    - Bank stole all my money

Average rating: ⭐⭐⭐⭐☆

:-)

Everybody who puts any money into any savings or investment account would have ascertained that there is FSCS cover, wouldn't they? I don't understand how the 'bank stole all my money' scenario could arise - but perhaps you have examples of banks stealing money, particularly from FSCS protected accounts?

There's a massive difference between banks actually stealing money and unhappy customers claiming on review sites (or this one) that banks stole their money, which usually means temporary account freezes, or ID checks, etc!

SpanishBlue

The main reason I don't like using apps is I struggle with the comparatively small screen size on my phone. It's hard to see and my fingers often hit something they're not meant to!

Also as my phone has an old version of Android, it's probably not supported by many banking apps and I don't want to go to the expense of buying a new phone when it does everything else I need it for faultlessly.

Daliah

SpanishBlue said:

The main reason I don't like using apps is I struggle with the comparatively small screen size on my phone. It's hard to see and my fingers often hit something they're not meant to!

Also as my phone has an old version of Android, it's probably not supported by many banking apps and I don't want to go to the expense of buying a new phone when it does everything else I need it for faultlessly.

Very fair point. Before my iPhone XS Max, I used the apps mainly on my iPad as a larger display does make things easier. Though keep being surprised by the smart app designers who can present so much information on such small displays, and with such easy navigation. I am even more surprised that I can type without real issues, as I have relatively big fingers, and usually quite long nails  . I also love asking Siri to make payments, or to open a given app, incl. my main current account at Santander. 

solidpro

SpanishBlue said:

The main reason I don't like using apps is I struggle with the comparatively small screen size on my phone. It's hard to see and my fingers often hit something they're not meant to!

Also as my phone has an old version of Android, it's probably not supported by many banking apps and I don't want to go to the expense of buying a new phone when it does everything else I need it for faultlessly.

If you use an Ipad and download the Iphone version of an app it's basically inflated to take up a larger screen. So you tend to find that the buttons already magnified for fingers on a small screen are even bigger.

dunstonh

Daliah said:

dunstonh said:

  

Most people never need to use the support staff but if you do, that can be frustrating for some.  Especially if the market-leading rate to attract business is more popular than they expected and they are inundated and get behind and there are just 10 people to answer queries via the app.

Are there any real-life experiences of people, or is this just a case of mild scaremongering?

Yes.  A thread on this very subject in the last week or two.  Someone wasn't happy that their support didn't work weekends (and I think nothing in evenings either).   And unfortunately, there are plenty of examples of providers that have appeared in MSE articles where service has suffered because of the increased inflows.   

Daliah

dunstonh said:

Daliah said:

dunstonh said:

  

Most people never need to use the support staff but if you do, that can be frustrating for some.  Especially if the market-leading rate to attract business is more popular than they expected and they are inundated and get behind and there are just 10 people to answer queries via the app.

Are there any real-life experiences of people, or is this just a case of mild scaremongering?

Yes.  A thread on this very subject in the last week or two.  Someone wasn't happy that their support didn't work weekends (and I think nothing in evenings either).   And unfortunately, there are plenty of examples of providers that have appeared in MSE articles where service has suffered because of the increased inflows.   

Got the link(s) please?

dunstonh

Daliah said:

dunstonh said:

Daliah said:

dunstonh said:

  

Most people never need to use the support staff but if you do, that can be frustrating for some.  Especially if the market-leading rate to attract business is more popular than they expected and they are inundated and get behind and there are just 10 people to answer queries via the app.

Are there any real-life experiences of people, or is this just a case of mild scaremongering?

Yes.  A thread on this very subject in the last week or two.  Someone wasn't happy that their support didn't work weekends (and I think nothing in evenings either).   And unfortunately, there are plenty of examples of providers that have appeared in MSE articles where service has suffered because of the increased inflows.   

Got the link(s) please?

No and the search engine is rubbish since the board moved to the current software.

glennevis

SpanishBlue said:

The main reason I don't like using apps is I struggle with the comparatively small screen size on my phone. It's hard to see and my fingers often hit something they're not meant to!

Also as my phone has an old version of Android, it's probably not supported by many banking apps and I don't want to go to the expense of buying a new phone when it does everything else I need it for faultlessly.

Although most banks do require recent versions of android to run their apps, there is a way round this provided your bank supports Open Banking (most major banks do).

You could install an FCA registered third-party's money management app which runs on older versions of android. For example the Snoop money management app runs on Android 6.0+.

Alexland

Personally I don't like app-only providers as a mobile friendly website shortcut uses much less space on the phone, requires no updates (apart from the web browser which would need to update anyway) and is accessible if I lose/damage the phone via the desktop computer where I can print off statements to keep in a file which is neatly organised to help my partner if I went under a bus. I haven't even owned a mobile for decades and while my employer provides a high spec model and allows me to install reputable apps there is employer configured software monitoring the phone's integrity and probably reporting home the list of installed apps so I try and keep them to a minimum of just a few banks and the HL app where the watchlist is handy for tracking investments with cheaper providers.

fudgecat

I'm 64 tomorrow and suspicious of new technology until I can see the clear advantages. I resisted getting a smart phone for years! However, now I have seen the clear advantages of simplicity and speed, I use banking Apps all the time. And Smart phones are brilliant.