Why people choose Monzo and starling bank

[zeb]

Hi I have seen people using monzo and starling cards .I still don't know the benefits of these two and which one is better and why people are using more than other banks ??

 

[Paul Kelly ICHYB]

You can apply for an account in the middle of the night and get accepted in 10 minutes.

They offer, at least, a great, simple, functional banking service.

 

[tan_lan]

And, they treat you with the same urgency you treat your business.

Big banks, "we have an appointment in two weeks"

 

[AlanJ1]

Things like live chat for any problems, mobile APPs that are lightyears ahead as well.

 

[potato632]

When I joined it was because they are more modern (and still are imo).

They do not charge for paying in different currencies like Euros or USD.

Compared to if I bought something in Euros with my Nationwide account they slapped a 50p or whatever FX fee like it's 2005!

Of course challenger bank apps are very modern and have great features such as exporting your account statements in various formats (PDF, CSV, QIF etc) and easily select a custom date range.

Some or most high-street banks fail to even let you scroll through your previous payments properly let alone exporting custom statements..

Those statements make challenger banks the perfect current bank accounts for sole traders - Starling also offers business bank accounts with those features + more.

There are other perks such as digital bank cards and temporary ones (for those dodgy websites you order from), savings pots, referral signup bonuses, etc.

And another example of high-street banks failing to modernise is Barclays do not let you add their accounts to Google Pay as they want to try and force people to use the Barclays app for contactless payments.

Really petty and dinosaur-like of them! You cannot have both Google Pay and Barclays app use contactless at the same time, so one of them must have NFC deactivated. Do I deactivate my 5+ card Google Pay app or my dinosaur 1 card Barclays app?

So yeah, challenger banks are really modern and can implement new features at a break-neck speed when compared to old fashioned high-street banks that still now, fail to even get a respectable app.