If you want best customer service, Monzo is the best The verdict: Revolut vs Monzo. More region focused tables about digital banks coming soon. 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. I discovered this too, by buying the wrong train ticket (German train ticket sales computers are really unclear) and then asking if I could buy a new one, but only having a card (I was leaving Germany). Monese vs Revolut: How does the account compare? You pay a small fee for withdrawing cash I believe. The world of fintech has brought about a revolution in banking, with digital challenger banks such as Revolut n’offre aucun tarif. The additional benefit here is that the physical card is a metallic card, instead of a standard plastic card. But does it make money on each user? The verdict: Revolut vs Monzo. Learn more about our business bank account. N26 has a full European banking licence and customer funds are covered by the German Bank guarantee (up to €100,000). However, you wanted a verdict so here we go. 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. Revolut's closest competitors when it comes to business banking are Monzo and Starling. Starling is better for people who want a simple all round UK current account, and like to go on holiday. It shares revenues or collects fees through third-party product and service arrangements, for example, offering… Chad Tennant. 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. 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. N26 is up against two main rivals in the UK – Starling Bank and Monzo. Used the clarity card previously but no point to it when I get the same benefits with tandem plus some cashback. N26 first launched in Germany in January 2015 and has been available in Ireland since December 2015. 1. Conclusion : Monzo ou Revolut ? Monzo vs Revolut vs Starling UK Challenger Banks App Revenue. Like what you see? Both are great if you travel often, almost entirely fee-free. Vous pouvez ouvrir votre compte et le vérifier en quelques minutes. Starling. If you're interested in the card let me know and I can get you a referral (and a £10 Amazon voucher). It would be good to see the difference. N26 now has more than 5 million customers across Europe and the USA, with almost 200,000 in Ireland. CFTE has done a research among its employees to see if challenger banks stand a chance to ever replace the incumbent banks so customers use them as their primary account. Are Monzo, Revolut, Starling and Transferwise safe to bank with? Press question mark to learn the rest of the keyboard shortcuts. Revolut's closest competitors when it comes to business banking are Monzo and Starling. In truth, Revolut and Starling Bank are broadly similar. If you want financial protection then Starling and Monzo are protected, they are actual banks, Revolut is not. Cookies help us deliver our Services. Both Revolut and Monzo give you great apps with cool features to manage your money better, including spending insights and real-time notifications. Both offer a UK bank account managed via an app, with great spending abroad options with each app. Revolut top-up methods. I have Revolut & Starling. Metro Bank has a physical branch network while Revolut, Starling and Tide are online-only. In my personal experience, I found currency exchange cheaper over on Revolut although Weekend Rates are definitely more expensive. So how does it compare to its competitors? Both Monzo and Starling charge fees, although they’re still quite competitive. I always take one Mastercard and one Visa in case I need money urgently and one of the networks is down. If you click on them we may earn a small commission. Both platforms are FCA and not FCSC regulated like Starling or Monzo. Revolut comes with two premium tiers. Metro Bank has a physical branch network while Revolut, Starling and Tide are online-only. Do you know if the exchange rate from starling is acceptable? I spend between 6 and 9 months at a time in Asia and never had an issue with Starling. I recently went to Central America for 3 months and found that Starling was by far the best due to its unlimited ATM fee free withdrawals - Monzo and Revolut are capped at £300 per month fee free withdrawals. 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. Starling vs Monzo: which is better? Starling leads here, pulling in £999 per user at the last count; largely due to its headstart in business banking, where deposits tend to be larger. 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. Revolut is a pre-pay card which works very well but is limited to £200/month free ATM withdrawals. Monzo and Starling Bank have overdraft protection, but Revolut doesn’t. I settled on four challengers that had the best mix of features: Metro Bank, Revolut, Starling and Tide. Both TransferWise and Revolut offer very cost-effective international money transfer providers. By using our Services or clicking I agree, you agree to our use of cookies. I travel a lot for work and use a Halifax Clarity card. JoySuckClub Mon 19-Aug-19 19:28:00. Main features of Monzo and Starling Bank. 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 … Ben Smithson. Hup 3 April 2019 10:45 #2. Starling vs Revolut: Final Knockout. Are they much the same as each other? Likewise, for those who take cash out regularly, Starling’s £300 fee … I would also recommend not taking that much cash with you. But if you ever go on holidays, starling is superior becuase you get to withdraw, £ 300 equivalent of cash every day, while Monzo limits you to £200 per month! Monzo vs Revolut vs Starling Bank: An Overview Monzo. Monzo is now in second place, increasing its average user deposit rate to £357 from £142 in 2018. It’s a few years older than Monzo, which brought in £9m, but it also comes down to costs: on average Revolut loses £9.16 per user, while Monzo’s users cost them £15. It would be good to see the difference. Chad is a digital marketer, consultant, and publisher. 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. What about curve? It was a bit excessive, but I brought my Starling, Monzo, Revolut, Amex and Co-op cards with me. The higher tier, called Metal, costs €13.99/£12.99. Evening Can any of you who use these explain the advantages compared with, say, transferring funds between countries using Paypal. The first is simply called Premium and it costs €7.99/£6.99 per month. I only have/use those 2, sorry. They found it absurd that I would travel without cash, I found it absurd that a modern country wouldn't have the ability to buy train tickets with a card. 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. In a period of financial unrest where credit is king, trust in the fintech services took a serious hit, affecting funding and valuations alike. Starling and Monzo interest rates Unlike Monzo, Starling pays an interest on current account balances (0.05% on up to £85,000). Avec Revolut vous pouvez seulement retirer £200 par mois gratuitement. (28 Posts) Add message | Report. With Revolut you can only withdraw £ 200 a month for free. Founded in 2015, Revolut is on a mission to facilitate global spending and transfers at the best exchange rates. Fee-free spending on both, but Tandem will give you 0.5% cashback on all spending. You can get a higher interest rate with Monzo if you open a separate savings account with one of its partners through the marketplace. Starling Bank are what’s known as a ‘challenger’ bank, and challenger banks are changing what banking looks and feels like. Key Revolut stats. The pre-pay card was always just a beta trial until the bank could roll out its current account. Starling Bank is the only branchless bank to offer interest on current account balances. Avoid. Starling -v- Revolut £-€ quick comparison. Another fundamental difference is that Monzo and Starling customers allow free and unlimited ATM withdrawals in the UK. Revolut vs Monzo, le comparatif. UK Challenger Banks App Average Deposit. Revolut Business vs Monzo business vs Starling Bank business. Like Starling, Monzo is a fully licensed bank, so should it go bust, your money is covered by the FSCS. Thanks Afternoon Dibbers Just looking at the above, what are people'e experiences with these cards? 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 … Banking is changing. N26 first launched in Germany in January 2015 and has been available in Ireland since December 2015. Tandem and Starling as a double-act. Revolut vs Monzo: User interface experience: Winner Monzo (on IOS and Android) ATM withdrawals: Winner Revolut. Starling also has 0% charge on foreign cash withdrawal and transactions. If you want cheapest transactions abroad, Starling is the best. Pour recevoir votre salaire, payer en prélèvement automatique (abonnement au sport, taxe d’habitation, etc), privilégié Monzo. Monzo has more than 2.2 million customers, and it’s now planning to expand into the US in … Haven't been able to try Starling as it thinks my phone is rooted.... Its not. As with most things, it depends. How Monzo, Revolut, Starling and N26 plan to topple legacy banks. Here’s how to go about it. Locally, Monzo is slightly better becuase of their app. Starling Bank. 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. 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. Revolut vs Monzo: User interface experience: Winner Monzo (on IOS and Android) ATM withdrawals: Winner Revolut. Fintech; 16 Sep 2019; The best Starling hacks and hidden features to make saving suck less. Starling vs Monese: the verdict. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. It lets you set savings goals and even offers interest on your balance at 0.05% up to balances of £85,000. Monzo, Starling Bank, Revolut, or TransferWise? Starling £1 - €1.1688 Revolut £1 - €1.1714 Has anyone done a comparison with Thai baht? Some may be put off by Monese’s £4.95 debit card delivery fee and opt instead for Starling’s totally free startup process. Monese and Revolut come with a range of financial services for users. I traveled around Europe for 2 months. Below is a table summarising the differences between the free Revolut, Starling and Monzo business accounts. Apparently they offer the mastercard exchange rate which from a quick google seems preferable. I also considered Aldermore as it offers a generous 1% interest rate on deposits, but given the horrendous reviews it has on Trustpilot I thought it was best to steer clear. That’s my combo for going abroad. Both offer a UK bank account managed via an app, with great spending abroad options with each app. Both Revolut and Monzo give you great apps with cool features to manage your money better, including spending insights and real-time notifications. 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. 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. Although Revolut’s losses tripled, its revenue increased from £58m to £167m – a significant amount, accounting for its financial expenditure. Revolut managed to raise $80 million from TSG Consumer Partners while Monzo bank’s losses jumped from £47.2m to £113.8m. Although Starling Bank, Monzo (both accredited and regulated by the FCA as banks) and Revolut (known in industry terminology as an electronic money institutino, but not a bank), do not use Wirecard – all fintechs suffered from the reputational fallout. Monzo offers higher rates, but only if you open a separate savings account with one of its partners. e-mail; 71. shares. Meanwhile, Revolut has dropped from having an average deposit of £252 per user in 2018, to £236. We often link to other websites, but we can't be responsible for their content. Revolut’s premium service also offers a small inflow (£16.8m in 2018), joining N26 in charging select users for certain features. Maybe some other user who has both Curve and Revolut can do a comparison. How to open a bank account without ID in the UK. Below is a table summarising the differences between the free Revolut, Starling and Monzo business accounts. 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. 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. The new wave of challenger banks are taking on traditional financial groups in a big way. … MadNomad 3 April 2019 11:28 #3. There are small shops and bars in every country don't accept card payments. For earning interest on your savings. 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. Une autre différence fondamentale est que les clients de Monzo et Starling autorisent de retirer librement et de façon illimité au Royaume-Uni. The only issue is Germany where I had to take cash out because they are stuck in the 1930s. Interest: Starling pay 0.5% interest on cash up to £2k, 0.25% above. Starling and Monzo both offer overdrafts. 4 April 2019 08:03 #1. After that they charge 2%. Has anyone done a comparison with Thai baht? There’s no fees for using it abroad and you are charged the MasterCard exchange rate. 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. S tarling Bank is another current account option with a full banking licence and FSCS protection. If you’ve followed me for any length of time you will probably know that I am a huge fan of Starling vs Monzo. TransferWise, Monzo and Starling have also collectively received 60 complaints over the same time period. So far so good and feel confident being in a country with multiple different (free) payment methods/options. Monzo vs Starling, Revolut and N26: The leading digital banks compared. I use the other two because I've had just bad experiences with Starling not working on my phone. It's very easy to send and receive money in different currencies and you can load in … Check out Monzo’s savings accounts if this sounds like the option for you. Si vous avez besoin d’une banque en Angleterre pour un long séjour. I used my Revolut card for several months around South America earlier this year. Read our full review of Monzo here. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. This post contains references to products from one or more of our advertisers. Cash deposits: Starling are free at the Post Office, Monzo charge £1 for deposits at PayPoint outlets. I hadn’t heard about the starling account before going so didn’t have the chance to test that out, I’ve been with starling for almost 2 years and never looked back. We may receive compensation when you click on links to those products. Revolut is the cheapest option since it’s mostly free. Starling £1 - €1.1688 Revolut £1 - €1.1714. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. Additional Revolut products Revolut accounts suggest not, but internal metrics suggest it does. Both have been great. Editor, Marcus Herbert. For the better. But there is no harm in taking more than one card with you. Both are great if you travel often, almost entirely fee-free. We already think we’re the best bank for business, but we want to help you make an informed choice. Starling vs Monese Revolut vs Monzo vs N26. 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 … I don't know about Monzo though. May 5, 2019. The Battle of the Travel Debit Cards: Revolut vs. Monzo vs. Starling vs. N26 vs. Curve. After all, it’s always great to have options. Obviously I'm going to take a decent amount of cash with me but I think it would be a good idea to have some form of card for security. 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. No fee to withdraw but it will charge you interest from the following day. Monese is a fully-featured current bank account while Revolut is slightly more limited as it’s effectively a prepaid card that gives you multiple currency options and lets you send money overseas quickly and easily. Revolut vs TransferWise. UK Challenger Banks App Average Contribution. Monzo don't (except in designated 'savings pots'). For Starling Bank, you’ll pay an … Halifax credit card is good so long as you pay it off straight away to avoid interest charges (easily done online) and are OK with credit card withdrawals showing on your credit file. For example is it ok to withdraw Argentine pesos from an ATM with my GBP Starling card. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. 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 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. Revolut. So how does it compare to its competitors? familiarise yourself with the latest version. *may need to set phone horizontally to see the full table. Monzo makes money from overdraft, personal loan, and withdrawal fees. Just did a quick comparison by making 2*EUR purchases at … Used Monzo everywhere. 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. Individual or business, Revolut is the only banking alternative designed for a worldwide lifestyle. Which is obviously a massive perk if you are worried about paying high monthly fees with Monzo or Revolut. Taking out an overdraft is cheaper with Starling than with Monzo though. +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). 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. I think it depends on your priority. Starling is better for people who want a simple all round UK current account, and like to go on holiday. UK's digital bank and online lender Zopa aims to generate profits in 2021, will compete with Revolut, Monzo, other European challengers. 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