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Tim in Scotland



Member Since: 30 May 2005
Location: Driving along in my automobile
Posts: 17163

2013 Range Rover Sport SDV6 HSE Stornoway Grey
Monzo online banking

Have any members joined this new on-line/ app based bank and what are your experiences/ impressions please 2018 Melting Silver Mini Countryman PHEV - a test car before Seeing if I could go to totally Petrol/Diesel free motoring
2015MY Corris Grey SDv6 HSE Dynamic, the best car I have ever owned, totally reliable only a cou0le of rattles in 3 years, now no longer in my care
Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW

Post #578606 Mon Apr 08 2019 11:19am
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jimbg



Member Since: 29 Jan 2013
Location: By the River Dart
Posts: 905

2013 Range Rover Sport SDV6 HSE Orkney Grey

According to the Sunday Times the average balance is £250!!

It seems to be used for settling bills between friends and not for paying in large amounts such as salaries. 2017 Discovery 3.0 HSE Silicon Silver Nimbus interior and a few extra toys

2013 HSE Black, Orkney Grey, Ebony Seats and Ivory Interior SOLD

Post #578618 Mon Apr 08 2019 12:41pm
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Tim in Scotland



Member Since: 30 May 2005
Location: Driving along in my automobile
Posts: 17163

2013 Range Rover Sport SDV6 HSE Stornoway Grey

It’s because of that article I am asking, I have opened an account that I will use mostly for keeping my Solar Feed In Tariff payments in and will use the card for paying for the petrol / electricity I put into the car. I don’t do online banking generally because working abroad has caused loads of problems with ISP recognition with my present bank who want me to tell them 3 weeks in advance of going abroad and where I am going which to me is not practical and twice my account has been blocked while I have been away and I haven’t been able to access it which is a bit useless when you are abroad for 3-4 months! I’ll give it a try for the use I mentioned and see how it goes before I change more banking over to them from my present bank (BoS) 2018 Melting Silver Mini Countryman PHEV - a test car before Seeing if I could go to totally Petrol/Diesel free motoring
2015MY Corris Grey SDv6 HSE Dynamic, the best car I have ever owned, totally reliable only a cou0le of rattles in 3 years, now no longer in my care
Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW

Post #578619 Mon Apr 08 2019 12:57pm
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jimbg



Member Since: 29 Jan 2013
Location: By the River Dart
Posts: 905

2013 Range Rover Sport SDV6 HSE Orkney Grey

I see! Laughing

I guess it probably is because of some the countries you are in? I use my LLoyds account who own BoS with no trouble in quite a few countries.

I did get blocked once through my own fault and it is a real pain calling the UK to get it sorted, at the time I did not have my mobile associated with the account, only my landline!! Rolling with laughter Big Cry 2017 Discovery 3.0 HSE Silicon Silver Nimbus interior and a few extra toys

2013 HSE Black, Orkney Grey, Ebony Seats and Ivory Interior SOLD

Post #578621 Mon Apr 08 2019 1:46pm
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Tim in Scotland



Member Since: 30 May 2005
Location: Driving along in my automobile
Posts: 17163

2013 Range Rover Sport SDV6 HSE Stornoway Grey

Made my first pay in from my BoS account to Monzo this afternoon:
A) the clerk behind the desk told me I was the 3rd person today he had had transfer money into a new Monzo account
B) he told me that he had seen the papers yesterday and had also opened an account with them this morning!
C) I hadn’t even signed the paper work for the transfer between accounts when I had a message from Monzo advising money had just arrived in my new account! <15secs to make the transfer. 2018 Melting Silver Mini Countryman PHEV - a test car before Seeing if I could go to totally Petrol/Diesel free motoring
2015MY Corris Grey SDv6 HSE Dynamic, the best car I have ever owned, totally reliable only a cou0le of rattles in 3 years, now no longer in my care
Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW

Post #578622 Mon Apr 08 2019 3:04pm
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Puslinch



Member Since: 08 Jan 2017
Location: Surrey
Posts: 98

United Kingdom 2012 Range Rover Sport 3.0 TDV6 HSE Firenze Red

I have a Revolut account due to the no fee forex while traveling. Works every time and never had an issue paying in, transfers or using globally. 2018 Telsa MS
2012 Range Rover Sport HSE+
1990 Porsche 944
1985 LR 90 Soft top V8

Post #578819 Fri Apr 12 2019 1:51am
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Brit Plumber



Member Since: 05 Jan 2018
Location: Sleaford, Lincolnshire
Posts: 882

England 2012 Range Rover Sport Supercharged Autobiography Fuji White

I’ve heard good things about the Revolut account, lots of guys I work with have one as we are paid an allowance while we are over seas but it’s paid into our U.K. account before we leave. That means we end up paying the banking costs and exchange costs when we withdraw from our destination country.

Does this Monzo bank charge for exchanges? I may look into this as an alternative. 2012MY RRS 5.0 Supercharged Autobiography (Current)
Mods:
2016 Discovery 4 Mirrors AKA RRS2 (Done)
2014 L405 Surround Camera retro fit (WIP)
2013 RES Dual View Screen fit (Complete)
2016 LR4 RSE (WIP)
67 plate Focus ST Line (Current)
09 Mondeo 2.2 Titanium X Sport (Gone)
1942 VEP Ford GPW Jeep (Willys) (Current)

02 Ford Focus TDCI (Brilliant car sadly scrapped)
99 BMW M3GTII (Amazing car, written off By a Fiat)

Post #578823 Fri Apr 12 2019 8:14am
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Tim in Scotland



Member Since: 30 May 2005
Location: Driving along in my automobile
Posts: 17163

2013 Range Rover Sport SDV6 HSE Stornoway Grey

Their website is here https://monzo.com/
I received my debit card on Wednesday morning 36 hours after sign up. One good security feature - you decide your PIN on sign up , no pieces of insecure paper with it on goes through the postal system. You can also create “pots” of money within the account so if you want to create sub budgets it’s dead easy - I created one for income from my solar panel feed in and another for running expenses of the Mini and another for running expenses for my Defender. 2018 Melting Silver Mini Countryman PHEV - a test car before Seeing if I could go to totally Petrol/Diesel free motoring
2015MY Corris Grey SDv6 HSE Dynamic, the best car I have ever owned, totally reliable only a cou0le of rattles in 3 years, now no longer in my care
Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW

Post #578825 Fri Apr 12 2019 8:37am
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jimbg



Member Since: 29 Jan 2013
Location: By the River Dart
Posts: 905

2013 Range Rover Sport SDV6 HSE Orkney Grey

Brit Plumber wrote:
I’ve heard good things about the Revolut account, lots of guys I work with have one as we are paid an allowance while we are over seas but it’s paid into our U.K. account before we leave. That means we end up paying the banking costs and exchange costs when we withdraw from our destination country.

Does this Monzo bank charge for exchanges? I may look into this as an alternative.


I use Transferwise for moving money internationally. 2017 Discovery 3.0 HSE Silicon Silver Nimbus interior and a few extra toys

2013 HSE Black, Orkney Grey, Ebony Seats and Ivory Interior SOLD

Post #578826 Fri Apr 12 2019 8:48am
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fkarim



Member Since: 14 Apr 2012
Location: London
Posts: 2194

United Kingdom 

Puslinch wrote:
I have a Revolut account due to the no fee forex while traveling. Works every time and never had an issue paying in, transfers or using globally.


I have a Revolut account for the same reason. I also have a Starling Bank account because the free Revolut account has a monthly cash withdrawal limit of £200 before they start charging fees. Both have decent conversion rates which are better than buying travel money upfront. While we're on that subject, I use a Halifax Clarity credit card for purchases in foreign currencies (both when physically abroad and online). No foreign currency transaction fees and the best FX rates ever.

Back on topic, never had any issues with either of my online-only accounts but no experience of Monzo - should look into it. Current: Volvo XC90 T8 Inscription Pro PHEV with some optionals on top
Gone: MY16 RRS2 3.0 SDV6 Autobiography Dynamic, Carpathian Grey & Santorini Black Sliding Pano/Ebony & Ivory 2 Tone
Gone: MY13 RRS 3.0 SDV6 HSE Black Edition, Orkney Grey/Ivory
Gone: MY09 RRS 2.7 TDV6 HSE, Santorini Black/Almond

Post #578827 Fri Apr 12 2019 9:51am
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Pakolainen



Member Since: 14 Mar 2016
Location: Helsinki
Posts: 255

Finland 2013 Range Rover Sport 3.0 TDV6 HSE Fuji White

This looks very similar to something i use here in Finland called Holvi (holvi.com) really useful and super quick. multiple sub accounts and so forth. I now run our rugby federation from it as well as 4 clubs. 2014 RRS 3.0 TDV6 HSE Dynamic
2006 RRS 2.7 TDV6 HSe
Alfa Romeo Guillietta 2.0 JTDM 2011
Mazda 3 1.6 2010
Subaru Impreza 2.0 WRX 2005

Post #578828 Fri Apr 12 2019 10:35am
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whippetman



Member Since: 12 Jun 2010
Location: on the level
Posts: 471

United Kingdom 2011 Range Rover Sport 3.0 TDV6 HSE Stornoway Grey

a Halifax Clarity credit card for purchases in foreign currencies (both when physically abroad and online). No foreign currency transaction fees and the best FX rates ever.

Me too!

Post #578870 Fri Apr 12 2019 9:12pm
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PC76



Member Since: 01 Oct 2017
Location: Cheshire
Posts: 210

United Kingdom 2010 Range Rover Sport 3.0 TDV6 HSE Adriatic Blue

I use both Monzo (less so now they introduced a free withdrawal limit) and Starling as this is fee free abroad. both are app based with instant notifications.

Post #579018 Mon Apr 15 2019 3:43pm
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Octane85



Member Since: 17 Mar 2019
Location: Wrexham
Posts: 27

Wales 

been using Monzo since before they got their official bank status, back when they used to be called Mondo.

When I say I use it.. I mean, it's my full time bank. Salary goes in to it, bills out of it, daily spends etc etc

They do everything a 'normal' bank does, but in my opinion in a much better way.

The biggest problem with them though is just how easy it is to see how much I spend on eating out Shocked Laughing

Post #579030 Mon Apr 15 2019 10:18pm
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