Current Accounts

[nrpmum]

Anyone use Starling or Monzo? Just wondered if they were any good, and if they have a budgeting option.

I've been using Monzo for almost two years now - love it! It's got 'pots' for you to categorize savings, proper savings accounts and best of all you see everything as soon as you spend it (immediate update on your phone). I also use the 'rounding up' function which rounds up every spend I make to the nearest pound and puts it in a virtual coin jar. There's plenty more that I don't use but because I'm a bit of a technophobe rather than because they're not worth using.

I use Monzo. I am terrible with money but it is slowly helping me to get things in order. Currently I just transfer my spending money for the month from my Natwest account, rather than use it as my only bank account.

I use starling, I love it. I have a saving section for each of the kids' pocket money. Each week it automatically puts their money under their name (although it's still technically in my account). That way I don't have to give them actual coins for them to lose, and I can always see on my app how much they've saved. If they want some money for some crap I can immediately deduct the value from their virtual pot.

It's not complicated to log in. It also tells you a day in advance when some money is going to leave your account, so you can make sure you have enough to cover it.

If you want to send money abroad, you can do it on the app and it'll instantly tell you hours much money they'll receive in their currency, so you can check its it's a good deal before you send.

The downside is that you can't access it on your laptop or in a branch, if you lose your phone and you have to cash cheques at a post office. The interest rates are also pretty bad, but that doesn't really affect me as I don't have much money in there anyway!

I use both. Monzo is my main account just because I find it more user friendly. I keep Starling because it's quicker to deposit cash (and Monzo charges a small amount). Cheques I think are by post for both (unless I've missed an update) so I also have a NatWest basic account for the one cheque I get each year from my grandparents.

I love Monzo's customer service, in-app and super speedy responses. Although not great if you prefer cold professionalism, they use emojis in their messages which personally I like. I also follow them on twitter and they announce new and upcoming features which I find interesting

Thanks everyone. Think it's a go then. I don't get cheques anymore, parents etc send electronic payments if needed.