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Business and personal accounts with the same bank?
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The one feature that does stand out is Monzo's ability to spend directly from its individual saving pots with something it calls 'virtual cards'. Not just direct debits (Starling can do this also) but general day-to-day transactions too. This would be a game changer for me in terms of both the personal account and joint account.
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Sounds you have already decided what you want to do.0
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Daliah said:Sounds you have already decided what you want to do.
Also, i'm pretty certain Starling will release a similar feature soon and given they don't offer a paid for version of the current account it will be accessible to all for free.
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Given i'm specifically after a digital bank for all 3 entities – business, personal and joint account – and the top 3 contenders consistently recommended to me are Starling, Monzo and Chase, i'm not sure how to avoid using the same bank twice given Monzo joint accounts have been very strongly criticised and – as i've just found out – Chase don't offer joint accounts.
That would leave Starling as the only option for a joint account, whom i'm already using for business purposes. Using Monzo Plus (£5 a month) or Chase for my personal account is an option however and would therefore mean...
1. Business account = Starling
2. Personal account = Monzo or Chase
3. Joint account = Starling
Okay, so not exactly all eggs in one basket but still a couple.
Would that be deemed a reasonable compromise or still risky?
FYI: I'm a freelancer and my business banking is pretty simple i.e. i don't have overdraft requirements or make any big purchases etc. All in all very low risk stuff.0 -
bpk101 said:
Given i'm specifically after a digital bank...bpk101 said:Having to sign into and navigate 3 different app interfaces that all do sort of the same thing but in annoyingly very different ways will be such a time and energy zapper.0 -
eskbanker said:bpk101 said:
Given i'm specifically after a digital bank...
I also want to make use of the in-built budgeting tools that the digital banking apps offer.bpk101 said:Having to sign into and navigate 3 different app interfaces that all do sort of the same thing but in annoyingly very different ways will be such a time and energy zapper.
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Fair enough, if you've narrowed the market down to three that meet your particular requirements then using two of them is better than one IMHO, although if you're rejecting Monzo for poor reviews of their joint account proposition, have you read the Chase threads on here about how rudimentary their nascent offering is?0
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eskbanker said:Fair enough, if you've narrowed the market down to three that meet your particular requirements then using two of them is better than one IMHO, although if you're rejecting Monzo for poor reviews of their joint account proposition, have you read the Chase threads on here about how rudimentary their nascent offering is?0
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bpk101 said:I want the ability to put money aside into individual pots within the same account, a feature that as far as my research as taken me no high street bank offers.0
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eskbanker said:have you read the Chase threads on here about how rudimentary their nascent offering is?0
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