Any probs with Monzo

k_man

jbrassy said:

k_man said:

jbrassy said:

Monzo is great if you're a hipster who wants to show off with a bright orange card.

To be honest, if you're looking to use an app-only bank with lots of neat features, Starling is better. 

Can you provide details?
I am not aware of any significant differences between the 2 (or most other banks with app access).

Starling do not charge any fees on overseas spending or ATM withdrawals.

As for Monzo:

"Withdrawals in the European Economic Area (EEA)

If you use Monzo as your main bank account, or have Monzo Plus or Monzo Premium, withdrawals are fee-free. If not, you’ll pay 3% on withdrawals over £250 every 30 days.

The rest of the world (outside the EEA)

You can take out £200 for free every 30 days, and we’ll charge 3% after that. With Plus it’s up to £400 for free every 30 days, and up to £600 with Monzo Premium. After that, we’ll charge 3%."

Thanks for the details.
Obviously only an issue if you plan to use as a cash/ATM card overseas, and for large amounts.

JadedAngel88

I think I opened my monzo account in 2017, when they were a prepay card.

Can say in those 5 years, I've never had an issue at all. 

I think the only downside is the changes they've made to the accounts.

Charging for overseas transactions or atm use, that was free - not something I used never been abroad.

Fee based accounts but I guess that's just something that every bank has.

Flex - I think that's something like klarna. 

Flux - Like a cashback type thing, sometimes they have good offers, cash back is paid within minutes of transaction. 

I suppose it also depends what you want from an account. Starling and revolut are also worth looking at. 

Daliah

JadedAngel88 said:

  

I suppose it also depends what you want from an account. Starling and revolut are also worth looking at. 

At present, Revolut are not a bank in the UK. They applied for a UK banking licence some 18 months ago and still have not got it. I wouldn’t go anywhere near them.

JadedAngel88

Daliah said:

JadedAngel88 said:

  

I suppose it also depends what you want from an account. Starling and revolut are also worth looking at. 

At present, Revolut are not a bank in the UK. They applied for a UK banking licence some 18 months ago and still have not got it. I wouldn’t go anywhere near them.

Oh I didn't know that, thanks for correcting my mistake. 

I was thinking along the lines of that revolut was kind of multiple currency kind of thing, so if that was what the op was looking for but yes, like you say, don't go near. 

overspender22

Revolut recently had a data hack too. 

Daliah

overspender22 said:

Revolut recently had a data hack too. 

That's right. https://www.which.co.uk/news/article/revolut-data-hack-what-you-need-to-know-aARKk0q9jyPG

They are having a bit of a torrid time - lots of senior employees leaving, UK banking licence application progressing at snails pace, ever worsening opinions about their CS.......not an outfit I would choose but some people love them.

TotalNoob

If I had typed this yesterday I would have said they were great.

Today though, when I tried to pay the rental deposit for a house, they declined the payment and froze my account.

The app says I need to verify my identity with a video tool on the app, but it keeps showing an error even after I reinstall the app.

I tried their chat support but got no response.

I phoned their help number, the first time I waited 30 minutes and the guy just sent a link to the non-working video tool and hung up without helping.

When I phoned back I waited 40 minutes before I got an answer. I was told the tech team needed to help and *should* be in touch within 24 hours.

Meanwhile I have no money, and may lose the house if I can't pay the deposit pretty soon.

So, my opinion may have changed...