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    • MSE Rosie
    • By MSE Rosie 5th Jun 18, 4:55 PM
    • 88Posts
    • 40Thanks
    MSE Rosie
    MSE Poll: How do you rate your banks' apps?
    • #1
    • 5th Jun 18, 4:55 PM
    MSE Poll: How do you rate your banks' apps? 5th Jun 18 at 4:55 PM
    Poll started 5 June 2018
    More and more of us now bank by app, so we want you to rate yours. Please vote for ALL THE APPS that you've used.

    NOTE: When we say standard features we mean it only has the likes of account details and transactions. Lots of features means it offers extras such as budgeting and categorising your spending.

    Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

    If you haven't already, join the forum to reply.

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Page 1
    • Budget_mum
    • By Budget_mum 5th Jun 18, 5:28 PM
    • 83 Posts
    • 60 Thanks
    Budget_mum
    • #2
    • 5th Jun 18, 5:28 PM
    • #2
    • 5th Jun 18, 5:28 PM
    I've recently been making the most of bank switching deals so have used a few of the apps. I have to say First Direct is the very worst I've come across so far
    • Wizard of Id
    • By Wizard of Id 6th Jun 18, 7:31 AM
    • 5,493 Posts
    • 18,394 Thanks
    Wizard of Id
    • #3
    • 6th Jun 18, 7:31 AM
    • #3
    • 6th Jun 18, 7:31 AM
    I use my banks website for internet banking but no interest in the app as I don't have a device to run it on other than my desktop so it would be pointless.
    • fewgroats
    • By fewgroats 6th Jun 18, 7:42 AM
    • 598 Posts
    • 358 Thanks
    fewgroats
    • #4
    • 6th Jun 18, 7:42 AM
    • #4
    • 6th Jun 18, 7:42 AM
    It should be 99.99% who don't use the apps.
    Advent Challenge: Money made: £0. Days to Christmas: 59.
    • aj23
    • By aj23 6th Jun 18, 4:26 PM
    • 1,112 Posts
    • 353 Thanks
    aj23
    • #5
    • 6th Jun 18, 4:26 PM
    • #5
    • 6th Jun 18, 4:26 PM
    Never downloaded the apps.
    • ozaz
    • By ozaz 6th Jun 18, 11:04 PM
    • 222 Posts
    • 77 Thanks
    ozaz
    • #6
    • 6th Jun 18, 11:04 PM
    • #6
    • 6th Jun 18, 11:04 PM
    I’ve never used Starling but Monzo is streets ahead of any other banking app I’ve used. No surprise this is being reflected in the poll results so far.

    Interesting you decided to include Chip and Plum. But the poll options don’t really make sense for them, since they have neither standard nor lots of features.
    Last edited by ozaz; 06-06-2018 at 11:11 PM.
    • indesisiv
    • By indesisiv 10th Jun 18, 8:44 PM
    • 6,290 Posts
    • 20,629 Thanks
    indesisiv
    • #7
    • 10th Jun 18, 8:44 PM
    • #7
    • 10th Jun 18, 8:44 PM
    Don't all the apps do what you need them to do?
    See balance, allow you to do transfers and pay people, look at direct debits and set up standing orders?
    What else does the app need to do?
    “Time is intended to be spent, not saved” - Alfred Wainwright
    • ozaz
    • By ozaz 11th Jun 18, 8:35 AM
    • 222 Posts
    • 77 Thanks
    ozaz
    • #8
    • 11th Jun 18, 8:35 AM
    • #8
    • 11th Jun 18, 8:35 AM
    Don't all the apps do what you need them to do?
    See balance, allow you to do transfers and pay people, look at direct debits and set up standing orders?
    What else does the app need to do?
    Originally posted by indesisiv
    I'll comment based on some features of the Monzo app that are superior to regular banking apps, but I think Starling has basically the same features.
    • Real-time transaction lists and notifications (no waiting several hours before a transaction gets added)
    • Much better information on each transaction than regular apps/statements (e.g. recognizable names instead of hard-to-decipher merchant codes; potentially useful metadata like location of purchase). EDIT: "Better information" might not be the right term here. But the information is certainly presented to you in a much better way.
    • Spending analytics (e.g. how much money you have spent in different categories of items; how much you have spent at a particular merchant)
    • Budgeting tools (e.g. how much you are projected to have left at the end of the month based on spending patterns)
    • Ability to add notes and receipts to transactions
    • Ability to temporarily freeze the card within the app if you think you may have lost it
    Last edited by ozaz; 11-06-2018 at 8:46 AM.
    • indesisiv
    • By indesisiv 11th Jun 18, 11:45 AM
    • 6,290 Posts
    • 20,629 Thanks
    indesisiv
    • #9
    • 11th Jun 18, 11:45 AM
    • #9
    • 11th Jun 18, 11:45 AM
    I'll comment based on some features of the Monzo app that are superior to regular banking apps, but I think Starling has basically the same features.
    • Real-time transaction lists and notifications (no waiting several hours before a transaction gets added)
    • Much better information on each transaction than regular apps/statements (e.g. recognizable names instead of hard-to-decipher merchant codes; potentially useful metadata like location of purchase). EDIT: "Better information" might not be the right term here. But the information is certainly presented to you in a much better way.
    • Spending analytics (e.g. how much money you have spent in different categories of items; how much you have spent at a particular merchant)
    • Budgeting tools (e.g. how much you are projected to have left at the end of the month based on spending patterns)
    • Ability to add notes and receipts to transactions
    • Ability to temporarily freeze the card within the app if you think you may have lost it
    Originally posted by ozaz
    1st one, yeah it sometimes takes a day to go on so I could potentially see the advantage of that, but I guess the question is why do the other banks wait a day to add transactions? I thought it was down to when the merchant sent its data through therefore out of the banks hands, but clearly I am wrong if one bank can do it instantly.

    Hmm, how does it know what category each spend is in? Does it have like a list of shops or something?

    Not sure I get the budget thing based on what it thinks you will spend... I don't tend to have regular spending from my current account apart from SO to other accounts at the beginning of the month.

    The only thing I would be interested in is to how they can show transactions in real time. Only things I can see on my bank instantly are transfers and cash withdrawals.
    “Time is intended to be spent, not saved” - Alfred Wainwright
    • Murphybear
    • By Murphybear 11th Jun 18, 12:36 PM
    • 4,677 Posts
    • 8,877 Thanks
    Murphybear
    I have a Barclays and Coop account, use apps for both. OH has Halifax. We transfer funds between the 3 on a regular basis and it's virtually instantaneous these days.
    • ozaz
    • By ozaz 11th Jun 18, 5:54 PM
    • 222 Posts
    • 77 Thanks
    ozaz
    1st one, yeah it sometimes takes a day to go on so I could potentially see the advantage of that, but I guess the question is why do the other banks wait a day to add transactions? I thought it was down to when the merchant sent its data through therefore out of the banks hands, but clearly I am wrong if one bank can do it instantly.

    Hmm, how does it know what category each spend is in? Does it have like a list of shops or something?

    Not sure I get the budget thing based on what it thinks you will spend... I don't tend to have regular spending from my current account apart from SO to other accounts at the beginning of the month.

    The only thing I would be interested in is to how they can show transactions in real time. Only things I can see on my bank instantly are transfers and cash withdrawals.
    Originally posted by indesisiv
    This article at the following link provides the best explanation I can find of how they can show notifications in real-time: https://monzo.com/blog/2015/12/02/3-second-sandwich/
    FYI, it was written when Monzo had a different name (Mondo)

    The article makes it sound like the IT systems of traditional banks are simply not designed to make use of real-time data. The "How is Mondo different?" section of the article is how they augment the data on each transaction and I assume this feeds into auto-categorisation. Categories can then be adjusted by the user and the user preference is learned by the app.

    I don't really use the budget thing but its there. Most people are creatures of habit so I wouldn't be surprised if projected spending patterns get fairly accurate after a few months of use for people who do all their spending on the card. I expect more budgeting tools will be added with time.

    The reason I started using Monzo was the real-time notifications/transaction logging. I wanted to switch from mainly cash-based day-to-day spending to using mainly contactless payments and Monzo facilitated this. Without instant logging of transactions in my statement/spending-feed I suspect it would be hard to keep track of contactless spending on a day-to-day basis.
    Last edited by ozaz; 11-06-2018 at 6:13 PM.
    • ozaz
    • By ozaz 11th Jun 18, 5:55 PM
    • 222 Posts
    • 77 Thanks
    ozaz
    I have a Barclays and Coop account, use apps for both. OH has Halifax. We transfer funds between the 3 on a regular basis and it's virtually instantaneous these days.
    Originally posted by Murphybear
    For bank transfers yes, but not for spending in shops.
    • jimjames
    • By jimjames 11th Jun 18, 10:22 PM
    • 13,241 Posts
    • 12,302 Thanks
    jimjames
    I have accounts with a number of banks and the best app I've found to be Tesco Bank. Even the small things seem to be missed with some banks like showing the balance of your account as you go to make a transfer or payment. Not difficult but Tesco is one of the few that actually show you how much is in your account!
    Remember the saying: if it looks too good to be true it almost certainly is.
    • danze
    • By danze 17th Jun 18, 7:37 AM
    • 22 Posts
    • 27 Thanks
    danze
    My personal league table from using each of these apps over the last few years.

    1. Monzo - Seems to do everything all the others do and more, instant notifications, real time conversion when using abroad, summaries of how much you spent when you come back to UK, instant lost card freeze, really good web chat based CS via the app.
    2. Barclays - Can view pending transactions, can see balance summary each day (no fingerprint login)
    3. Nationwide - Just works well, never felt much was missing besides pending transaction and balance summaries.
    4. Natwest - Decent app, no daily/rolling balance summaries (just current balance), using transfers / payments is slow / unresponsive, asks for account number and sort code rather than sort code and account number (seems backwards)
    5. Halifax - Solid app when I used it, haven't used it for a couple of years
    6. HSBC - Pretty barebones
    7. First Direct - Pretty barebones
    8. B (Yorkshire/Clydesdale) - Really ambitious but nothing works, constant crashes, doesn't actually cancel direct debits etc when it says it has, made multiple repeated BACS transfers when I only asked for one.
    Last edited by danze; 17-06-2018 at 7:39 AM. Reason: Adding more detail to Monzo
    Debt free journey (Started Feb 2018)
    124,857.98 / 136,325.55
    • danthemoneysavingman
    • By danthemoneysavingman 5th Jun 19, 3:22 PM
    • 1,283 Posts
    • 538 Thanks
    danthemoneysavingman
    Am curious what people classify as "loads of features" in the poll.

    I use apps for payments and transfers as fingerprint login saves a lot of messing about (vs. on a PC where extra codes being sent by text etc), so find v useful for that.
    No real need for real-time transactions for me I think, as day-to-day spending done on credit cards (for the cashback!)

    Do any apps allow you to set up new payments or standing orders, delete direct debits, things like that?
    Or do all banks restrict that to the web side of things? Possibly a security thing, no idea.

    Pls share your thoughts folks
    Let me Google that for you...
    • ozaz
    • By ozaz 5th Jun 19, 9:44 PM
    • 222 Posts
    • 77 Thanks
    ozaz
    Am curious what people classify as "loads of features" in the poll.

    I use apps for payments and transfers as fingerprint login saves a lot of messing about (vs. on a PC where extra codes being sent by text etc), so find v useful for that.
    No real need for real-time transactions for me I think, as day-to-day spending done on credit cards (for the cashback!)

    Do any apps allow you to set up new payments or standing orders, delete direct debits, things like that?
    Or do all banks restrict that to the web side of things? Possibly a security thing, no idea.

    Pls share your thoughts folks
    Originally posted by danthemoneysavingman
    The mobile-only banks (e.g. Monzo and Starling) set the standard for ‘loads of features’ IMO. I use Monzo and in the poll selected loads of features for Monzo and standard features for all 4 traditional banks I also have accounts wih. The features Monzo has that I particularly like and are not typically found in apps for traditional banks include: instant transaction notifications and balance updating, transaction enrichment and notes, transaction search, spending analytics and budgeting tools. I assume Starling has the same or similar.

    The mobile-only banks have payee and standing order setup and management. I assume they must also have direct debit deletion functionality but I’ve never used this.
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