Mobile banking firms

legg07 · Post by **legg07** » Fri Aug 14, 2020 9:18 pm

Do anyone forum members use online banks such as Monzo or Starling, just wondered if there are any advantages of using these over high street (Other than convenience).

Rorschach · Post by **Rorschach** » Sat Aug 15, 2020 6:03 am

All my banking is online, you just need to choose a bank that offers the type of account you want and features you need. For the most part they are all the same these days and you don't even have to use their dedicated apps due to open banking policies.

legg07 · Post by **legg07** » Sat Aug 15, 2020 1:16 pm

Rorschach wrote: ↑Sat Aug 15, 2020 6:03 am All my banking is online, you just need to choose a bank that offers the type of account you want and features you need. For the most part they are all the same these days and you don't even have to use their dedicated apps due to open banking policies.

Thank you for the response, that's interesting, so you can actually use 3rd party apps to manage your account. Is that what you are saying?

Rorschach · Post by **Rorschach** » Sat Aug 15, 2020 4:54 pm

Yes there is a system agreed by (most) banks that allow 3rd party apps to access accounts so you can have multiple accounts in one location. I have not done it myself as I don't need to (and only 2 of my banks are on the system anyway) but it is something that can be done.

Just about every bank will have their own app and from those that I have used they all seem to work fine. Virgin seems to be the least useful as they have multiple banking systems under one name so I can't access all my accounts from the app, mildy frustrating but not the end of the world.

For me, I would just pick the bank that has the account you want and go with that, don't worry about their online or app as it will likely be fine whatever you need.

Argyll · Post by **Argyll** » Sun Aug 16, 2020 2:37 pm

I used both Monzo and Starling but only use Starling now. Monzo restricted their atm foreign withdrawals to £200pm which was no good to me. I use Starling almost daily, topping up from my main bank account.

What I like about Starling is you're instantly notified on your phone regarding withdrawals. You don't get this from many major banks. I make numerous foreign atm withdrawals without incurring any foreign transaction fees. Not that I'll be doing much travelling in the near future due to Covid.

Argyll · Post by **Argyll** » Mon Aug 17, 2020 4:57 pm

I also meant to add Starling are brilliant about cashing cheques. Notthat I cash many now a days but when i do I only have to send them a photo of the cheque and it's paid within a couple of days. there's not a lot of banks do that. Many you either need to go into the branch or post it to them.

Rorschach · Post by **Rorschach** » Mon Aug 17, 2020 6:31 pm

FWIW the Virgin banking app allows you to cash cheques using your camera.