Alternatives to Monzo

andthatisthat

I used Monzo as my main day-to-day account for several years, but closed my account earlier in the year because I was unhappy with their standard of customer service. Since then I've been using a Lloyds current account, but I've found myself really missing some of the key benefits of Monzo, like transactions appearing instantly on the account, the round-up feature when spending on the debit card, the ability to store my money in pots, being able to get straight into the app rather than having to click through multiple screens the way the Lloyds app always seems to want me to etc.

I've been looking to see if there's a decent equivalent to Monzo out there. I tried Starling but got turned down for an account (they didn't give a reason and it looks like they aren't likely to change their minds any time soon). Are there other alternatives worth considering? I have a Revolut account but have only really used it for spending overseas and am not a big fan of the app interface. Is Chase worth a look? Or should I just see if Monzo would take me back?

friolento

Chase is not too bad, Kroo and LHV could also be in the running for you. Zopa could also be a strong contender.

flaneurs_lobster

I'd second Chase, good clean interface, round-ups, fast debits/credits, decent savings rate at the moment. 

Can have up to 10 savings accounts, call them "pots" if you like.

Silverspeed

Chase has been on my radar for the past few years. The only reason I didn't switch was that I am happy where I am now. Worth checking it out. My older friends like it, it's easy to use and sort out problems. 

Find it interesting that Starling bank turned you down.  I have had only good experiences both with their app and customer service. Maybe you should have a look at your Credit score file, hopefully nothing suspicious. 

Or have you ever opened a Starling account before? Because I had a Monzo account before COVID, I needed to register with a different email address.

Rob5342

Starling is the only other bank that's as good as Monzo as far as I know. Chase aren't too bad, they don't have pots but you can easily open additional accounts, they aren't as flexible though as you have to set up direct debits on each one with the company you are paying, you can't just move them around like you can with Chase.

I really don't understand why the old fashioned banks don't offer pots, it's such a simple idea and makes budgeting really easy and I would have thought lots of people would find it very useful. 

Emmia

Silverspeed said:

Chase has been on my radar for the past few years. The only reason I didn't switch was that I am happy where I am now. Worth checking it out. My older friends like it, it's easy to use and sort out problems. 

Find it interesting that Starling bank turned you down.  I have had only good experiences both with their app and customer service. Maybe you should have a look at your Credit score file, hopefully nothing suspicious. 

Or have you ever opened a Starling account before? Because I had a Monzo account before COVID, I needed to register with a different email address.

I know a couple of people who have been turned down for Starling accounts despite salaries in the 6 figures territory, and who don't normally have a problem. I can only presume that they don't fit the preferred customer profile for some reason.

steven141

Rob5342 said:

Starling is the only other bank that's as good as Monzo as far as I know. Chase aren't too bad, they don't have pots but you can easily open additional accounts, they aren't as flexible though as you have to set up direct debits on each one with the company you are paying, you can't just move them around like you can with Chase.

I really don't understand why the old fashioned banks don't offer pots, it's such a simple idea and makes budgeting really easy and I would have thought lots of people would find it very useful. 

Both Kroo and TSB have pots as well.

friolento

steven141 said:

Rob5342 said:

Starling is the only other bank that's as good as Monzo as far as I know. Chase aren't too bad, they don't have pots but you can easily open additional accounts, they aren't as flexible though as you have to set up direct debits on each one with the company you are paying, you can't just move them around like you can with Chase.

I really don't understand why the old fashioned banks don't offer pots, it's such a simple idea and makes budgeting really easy and I would have thought lots of people would find it very useful. 

Both Kroo and TSB have pots as well.

So do Zopa

Rob5342

steven141 said:

Rob5342 said:

Starling is the only other bank that's as good as Monzo as far as I know. Chase aren't too bad, they don't have pots but you can easily open additional accounts, they aren't as flexible though as you have to set up direct debits on each one with the company you are paying, you can't just move them around like you can with Chase.

I really don't understand why the old fashioned banks don't offer pots, it's such a simple idea and makes budgeting really easy and I would have thought lots of people would find it very useful. 

Both Kroo and TSB have pots as well.

Are they like Monzo and Starling where you can set each direct debit and standing order to come out of a specific? 

Futuristic

Natwest has pots, virtual cards and budgeting stuff. I'm not sure why more people don't recommend them, the app is frequently updated with new features people would find useful. Never had issues. 

They just don't have good savings rates, so for that Chase (if you're new customer for top rate) would be good however.