at time of travel monzo was 0% but limited to £1k a month, this was trouble in cash heavy countries as you can’t take enough out, therefore always having a card like revolut which doesnt block ATM is important. Starling vs Revolut: Final Knockout. Monzo has been very popular with the younger crowd due to its intuitive interface and convenience for money managing. Monzo vs Starling, Revolut and N26: The leading digital banks compared. I traveled around Europe for 2 months. There are small shops and bars in every country don't accept card payments. Generally worked fine and did save loads vs using a normal bank card. Cash deposits: Starling are free at the Post Office, Monzo charge £1 for deposits at PayPoint outlets. UK Challenger Banks App Average Deposit. Starling vs Monzo: which is better? Afternoon Dibbers Just looking at the above, what are people'e experiences with these cards? I always take one Mastercard and one Visa in case I need money urgently and one of the networks is down. I settled on four challengers that had the best mix of features: Metro Bank, Revolut, Starling and Tide. N26 has a full European banking licence and customer funds are covered by the German Bank guarantee (up to €100,000). Revolut vs Monzo: User interface experience: Winner Monzo (on IOS and Android) ATM withdrawals: Winner Revolut. Revolut accounts suggest not, but internal metrics suggest it does. Both platforms are FCA and not FCSC regulated like Starling or Monzo. At the time it was a breath of fresh air and was considered the best pre-pay option. With Revolut you can only withdraw £ 200 a month for free. Cookies help us deliver our Services. Chad is a digital marketer, consultant, and publisher. It would be good to see the difference. In truth, Revolut and Starling Bank are broadly similar. Are they much the same as each other? For an explanation of our Advertising Policy, visit this page. You can get 0.5% AER on balances up to £2,000 or 0.25% on balances over £2,000 and up to £85,000. Starling £1 - €1.1688 Revolut £1 - €1.1714. Although Revolut’s losses tripled, its revenue increased from £58m to £167m – a significant amount, accounting for its financial expenditure. I have used Monzo, Revolut and Tandem extensively around the world. Revolut vs Starling: The verdict. 1. As with most things, it depends. As an aside, it's a good idea to have a backup card if you're away for any length of time in case you lose one. That’s my combo for going abroad. Starling. Metro Bank has a physical branch network while Revolut, Starling and Tide are online-only. Revolut comes with two premium tiers. But does it make money on each user? Used Monzo everywhere. The world of fintech has brought about a revolution in banking, with digital challenger banks such as Best strat I've found is to use Tandem for any card purchases as you get cashback, and they have a free £200 cash withdrawal, then add Starling to that and you're smiling. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. MARTIN LEWIS HELPS MUM CLEAR £30,000 DEBTS - HERE'S HOW YOU CAN DO THE SAME, STUDENT TUITION FEES IN ENGLAND SET TO BE FROZEN FOR ANOTHER YEAR, SANTANDER TO HIKE GRADUATE ACCOUNT OVERDRAFT FEES - BUT YOU CAN BEAT IT BY SWITCHING, https://www.revk.uk/2018/05/pick-card-any-card-monzo-winner.html. Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News. If you’ve followed me for any length of time you will probably know that I am a huge fan of Starling vs Monzo. Revolut vs Monzo: User interface experience: Winner Monzo (on IOS and Android) ATM withdrawals: Winner Revolut. Revolut. Fee-free spending on both, but Tandem will give you 0.5% cashback on all spending. The question now is not these companies’ ability to challenge the incumbents (Monzo and Revolut already have over 10m “customers” combined), but whether their profit margins and valuations are sustainable. It’s worth knowing that Revolut applies a minor mark up on its rates at the weekend of 0.5%- 1.5% as the markets are closed. Revolut, Monzo or Starling? Main features of Monzo and Starling Bank. As with most things, it depends. +1 for Halifax Clarity credit card - I've had it for the past few years, and it's been nothing short of perfect, I travel around Europe extensively for my job - never had any issues, and regularly use it to take cash out (repaying immediately). After that they charge 2%. Similarly, Monzo, Starling, Tandem and N26 are all loss-making (although most claim they’ll breakeven in the coming years). The two areas we believe could influence your opinion is service availability, as Monzo is currently only available in the U.K., whereas Revolut has wider availability. You pay a small fee for withdrawing cash I believe. Anyone have any experience with this? Interest: Starling pay 0.5% interest on cash up to £2k, 0.25% above. Some links in this article may be affiliate links. There’s no obvious answer here. It would be good to see the difference. Are Monzo, Revolut, Starling and Transferwise safe to bank with? Ben Smithson. Starling is the only one that pays an interest on current account balances. Revolut’s premium service also offers a small inflow (£16.8m in 2018), joining N26 in charging select users for certain features. If you want financial protection then Starling and Monzo are protected, they are actual banks, Revolut is not. Tandem and Starling as a double-act. Both Monzo and Starling charge fees, although they’re still quite competitive. UK's digital bank and online lender Zopa aims to generate profits in 2021, will compete with Revolut, Monzo, other European challengers. F ounded in 2015, Monzo has emerged as one of the leading players in the UK consumer technology scene, alongside rivals like Revolut, the digital money transfer app, and Starling … For Monzo, you’ll be charged 50p every day your account is overdrawn by more than £20, up to a maximum cost of £15.50 a month. I use the other two because I've had just bad experiences with Starling not working on my phone. Revolut is much more focused on the international side of banking and on offering you … Both Revolut and Monzo give you great apps with cool features to manage your money better, including spending insights and real-time notifications. It lets you set savings goals and even offers interest on your balance at 0.05% up to balances of £85,000. But, you can’t set up direct debits or standing orders via Revolut, so this has less functionality that Starling and Monzo Bank, which offer a full current account. But there is no harm in taking more than one card with you. We already think we’re the best bank for business, but we want to help you make an informed choice. The Battle of the Travel Debit Cards: Revolut vs. Monzo vs. Starling vs. N26 vs. Curve. Starling -v- Revolut £-€ quick comparison. Revolut's closest competitors when it comes to business banking are Monzo and Starling. … MadNomad 3 April 2019 11:28 #3. For card spending I used my Tandem credit card which doesn't charge transaction fees abroad (just uses the MasterCard exchange) and gives 0.5% cashback even on transactions in foreign currency. The pre-pay card was always just a beta trial until the bank could roll out its current account. Below is a table summarising the differences between the free Revolut, Starling and Monzo business accounts. Do you know if the exchange rate from starling is acceptable? Revolut vs TransferWise. Has anyone done a comparison with Thai baht? Monzo. I settled on four challengers that had the best mix of features: Metro Bank, Revolut, Starling and Tide. S tarling Bank is another current account option with a full banking licence and FSCS protection. Key Revolut stats. In my personal experience, I found currency exchange cheaper over on Revolut although Weekend Rates are definitely more expensive. I've got both (and Revolut), started with Monzo and swapped to Starling once the monthly foreign ATM limit came in as I use a lot of cash when abroad. Starling will give you fee-free cash withdrawals on any amount (Monzo is limited to £200 per month before they start charging you) and I wouldn't trust Revolut for anything. Starling is better for people who want a simple all round UK current account, and like to go on holiday. I have Revolut & Starling. It's very easy to send and receive money in different currencies and you can load in … How to open a bank account without ID in the UK. Monzo vs Starling Bank. Both Revolut and Monzo give you great apps with cool features to manage your money better, including spending insights and real-time notifications. Starling also offers an in-app Marketplace so users can access other financial services and you can apply for a bigger loan than you can with Monzo. But, you can’t set up direct debits or standing orders via Revolut, so this has less functionality that Starling and Monzo Bank, which offer a full current account. Here’s how to go about it. The main appeal they offer above Monzo and Revolut is that they have no cap on free monthly withdrawals. Monzo vs starling opinions Hey folks, I'm looking to get either a starling or Monzo account opened before my next trip abroad (i do a few European trips a year) primarily for the foreign exchange usage. Revolut vs Starling: The verdict. Individual or business, Revolut is the only banking alternative designed for a worldwide lifestyle. I just took out what I needed for a week, left it locked up in my hostel locker and had a day wallet on me for what I would be spending that day. Taking out an overdraft is cheaper with Starling than with Monzo though. Terms apply to the offers listed on this page. Unlike it's digital competitor Starling, Monzo started life as a pre-pay travel. Revolut n’offre aucun tarif. N26 is up against two main rivals in the UK – Starling Bank and Monzo. Like most industries, banks are in the midst of a digital transformation and established veterans on the high-street are getting ousted by up-and-coming challengers solely operating online, utilising cloud-based technology. British mobile banks Monzo and Starling are transforming UK spending. Starling and Monzo both offer overdrafts. There are a few differences but they're broadly similar. Natwest has become the latest bank to launch an app-only account - in a move that will rival the likes of Monzo, Revolut and Starling. Both are great if you travel often, almost entirely fee-free. I've also seen some info about monzo and revolut, but they seem to have a limit of £200 for ATM withdrawals per month and after that a 3% transaction fee. If you want best customer service, Monzo is the best I don't know about Monzo though. Both are popular UK-based banks for both personal and business users, but when it comes to business accounts, they are not equal. I've read that a Starling bank card is good because they do not charge any ATM fees or transaction fees abroad. familiarise yourself with the latest version. However, you wanted a verdict so here we go. e-mail; 71. shares. It shares revenues or collects fees through third-party product and service arrangements, for example, offering… Chad Tennant. N26 now has more than 5 million customers across Europe and the USA, with almost 200,000 in Ireland. See how Starling’s business account compares against the other banks when it comes to areas such as customer support, fees, features, payments and borrowing. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. We may receive compensation when you click on links to those products. Additional Revolut products So how does it compare to its competitors? Revolut top-up methods. Evening Can any of you who use these explain the advantages compared with, say, transferring funds between countries using Paypal. Don’t use Revolut. There’s no fees for using it abroad and you are charged the MasterCard exchange rate. For example is it ok to withdraw Argentine pesos from an ATM with my GBP Starling card. Monzo and Starling Bank have overdraft protection, but Revolut doesn’t. The big boys are worried. If you lose one card or it gets stolen it's important to have backups and also many ATMs in Latin America will sometimes only take Visa or Mastercard - so it's useful to have one card of each type. Starling Bank. It offers free and premium products and services at … Revolut Business vs Monzo business vs Starling Bank business. Starling is probably Monzo’s closest rival. Revolut's closest competitors when it comes to business banking are Monzo and Starling. A Comparison of N26 Vs Revolut in Ireland A Summary of N26 . Pour recevoir votre salaire, payer en prélèvement automatique (abonnement au sport, taxe d’habitation, etc), privilégié Monzo. MadNomad. Read our full review of Monzo here. I travel a lot for work and use a Halifax Clarity card. UK Challenger Banks App Average Contribution. I lived in France for 3 months and I used my starling account for ATM's which was good because as you said lack of fees. Avec Revolut vous pouvez seulement retirer £200 par mois gratuitement. (28 Posts) Add message | Report. Monzo don't (except in designated 'savings pots'). A Comparison of N26 Vs Revolut in Ireland A Summary of N26 . TransferWise, Monzo and Starling have also collectively received 60 complaints over the same time period. Monzo vs Revolut: The verdict. Founded in 2015, Revolut is on a mission to facilitate global spending and transfers at the best exchange rates. Hup 3 April 2019 10:45 #2. Monzo offers higher rates, but only if you open a separate savings account with one of its partners. Both are great if you travel often, almost entirely fee-free. You'll find ATMs nearly everywhere you go and it means that in the unlikely chance you get robbed you won't be losing that much. Monzo, Starling and Revolut all do roundups, an easy way to bolster savings by rounding up all transactions to the nearest pound, putting the spare change into a pot. Locally, Monzo is slightly better becuase of their app. Thanks More region focused tables about digital banks coming soon. Like what you see? Something will go wrong with the account and their support will leave you high and dry. I spend between 6 and 9 months at a time in Asia and never had an issue with Starling. I think it depends on your priority. By using our Services or clicking I agree, you agree to our use of cookies. Starling £1 - €1.1688 Revolut £1 - €1.1714 Has anyone done a comparison with Thai baht? It's not that they're stuck in the past, it's just the % that card providers charge is not worth it for small companies. 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