They definitely share a lot of mannerisms! The inwards breaths between words and that grumble that comes into his voice every now and again scream Jezza.
Monzo is working on Cheque processing, you can't build Rome in a day. Bringing old tech into a new system isn't at the forefront of development. But it is on the radar.
I've been using Monzo for over a year now and love it. I recently opened an account with Starling, but I prefer Monzo myself. Starling is good though but I prefer the data Monzo provides. Business accounts aren't relevant to me but I know Monzo are bringing them out! I use Monzo for money management and every Monday I send my weekly budget in there, so I do keep my Lloyds Bank open for bills - which also solves the cheque issue. Even if Monzo had the cheque imaging on the app I'd still keep Lloyds open because it's beneficial to have more than one account just in case, in addition closing a long term account will negatively affect your credit score.
But I was worried with how easy it was to open an account, if you have a twin or look very very similar to someone they could easily open an account in your name
Another bank that's very good that doesn't charge you for use abroad is Starling Bank. They won British Bank of the year 2019. I like using both though. Thanks for the great video!
Although I agree, Starling are great too, I wouldn't go by the awards they won, as they used marketing to ask people to vote for them, giving them an unfair advantage to get that award.
@@secret-alias Ah I see. I did the bank account switch for both Monzo and Starling and both of these banks worked perfectly during my holiday in London. I also use Curve Card which helps space in my wallet too! 👍
I run a restaurant and a lot of my new staff need a bank account and I've always recommended Monzo. I've just signed up to Starling Bank myself as it works with Garmin Pay (for my smart watch) and has unlimited ATM withdrawals. Plus their cards are cool
No, they're a scam - people's accounts are being sign out, closed, blocked access to money because they have no cash flow and selling the money to others for loans and they are paying people to write reviews for their shambles and fraudulent 'bank' which will be closing in the near future once brought to light for the authorities
Do a review for revolut, can hold multiple balances in different currencies, trade crypto currencies, great security features, instant notifications, budgeting, saving, interbank exchange rate and more
@Patrick Woodlock my friend, read their reviews on Trustpilot. They are seriously crazy, I've never had my money frozen by any other banking institution. I almost committed suicide, I was unable to pay my bills thanks to them and after several months, really I was staring at myself in the mirror and had to fight the little voice telling me to take my own life. Seriously, read Trustpilot and see how many people are in a similar situation.
I ❤️Monzo. The only downside is that you are not able to name virtual cards for use with Apple Pay, you have to remember the colour of the card. Confusing if you have more than 2 or 3 cards
On the overdraft point, pretty sure Monzo don’t charge interest on the overdraft, so £15.50 is the most you’d pay for a month regardless of the amount. With other banks there is a monthly fee, plus interest. I think... please correct if this is wrong.
Overdrafts are charged at 50p a day but it maxes out at £15.50 total for a month but yeah, does seem a bit more expensive compared to TSB etc. They are working on business accounts and paying in cheques by camera, if you go to the ‘Making Monzo’ in the help section it says what they’re working on bringing soon and in the future. Otherwise always enjoy your reviews.
Sweet! Didn’t know it maxes out at £15.50 a month! And yeah I know that they have those features planned... but they’ve been talking about that stuff for ages! Less talk, and more action from them, and my review might’ve been a bit different! 😜
I’m using Revolut at the moment. Not bad. It doesn’t have all the features that you mentioned. It is good for using abroad as you don’t have to worry about conversion to say Euros for example and that is the main reason why I got it. Monzo sounds good though.
Revolut has most of these features and adds a lot of its own, you need to top up by £10 it doesn’t charge you £10, if you really want you can transfer it back to where it came from after you top up
Another great review! I'm a Monzo Investor, and I can honestly say that I love it, and that considering it's still a very young and trendy little fish in a very big, cantankerous and antiquated pond, it's doing amazingly. Regarding the cheques, yes they could build that into the app, but as you said, Monzo is primarily for modern tech oriented users who care little for how they go about cashing Granny's annual birthday cheque... It just seems a little odd to me to challenge a heavily tech oriented bank for not allowing you to scan and cash paper based cheques? Does your state-of-the-art video processing PC have a fax machine port? It doesn't, you say!? In this day and age?? Also, if they were to start building in every little piece of existing market tech, then they would be focusing less on what they do best, which is innovation. Which is the last thing I want as a user! I don't want Monzo to falter from their chosen path, (insert Star Wars stay on target meme here...), and become just another troglodyte bank. We already have plenty of those, sir... (Sorry for the War and Peace comment!)
I get what you’re saying... and normally I would agree- ie, the removal of CD drives, headphone ports on phones etc etc... however cheques are a very real thing, and a huge proportion of people (all over the age of 50 without a doubt) still use cheques and are extremely unlikely to adopt the new ethos of a tech bank! So until that generation slips into the dark abyss, I think these new challenger banks should at least cater for that fact. I’m not expecting a shiny Monzo cheque book through the post... just the ability to quickly manage my money from all sources and not just those directed at millennials 👌 But maybe my expectations are too high...
@@StusReviewsUK Hey Stu. Thanks for the reply, bud. I don't think your points could be considered excessive expectations! And we should always expect better. I just think that they're perhaps not case-study relevant. I guess the point I was making in ham-fisted way is that, yes cheques are a still a part of banking, especially to those over 50, as you said. But I would also wager that if you took a present day snap-shot of the Monzo user base, 50+ would be a very small portion of that user base. So why waste time, money and resources on creating a function that caters to a very small percentage of your customers, (also, if they're 50+ and using Monzo, I'd say they're pretty tech-savvy anyway!), and is counter-intuitive your product strategy, when it could better spent innovating new ways of banking for your primary customers? Just a consideration. Also, could we perhaps have a whiskey review soon!? I always seem to want a glass of my Highland or Chivas whenever I watch your videos!
Keep an eye out towards the end of this year- we are travelling Scotland trying out as many whisky distilleries as we can and posting the reviews on my other channel - Stu’s Reviews Travel!
Constant problem with all these new ways of banking is you still need a traditional bank account to add cash to them. If you do not deal with Cheques, you deal with cash, how do you add cash to for example Monzo, Transferwise, or Starling etc. account and avoid bank transfer fees through your traditional bank account? For example Paypal has some machines you can directly deposit cash to. Also can you use any currency with Monzo etc. or is it constantly converted from or to pound and perhaps there is a fee for that?
Not so. Starling Only a charge for business deposits. Here’s what it says on their website; The deposit service is *free for personal customers* and costs £3 for business customers depositing up to £1,000. After that, there’s a 0.3% charge on the amount deposited.
I have a Monzo which I use and put weekly pay into it. I still have my old fashioned bank account with Santander. Do you think it is better to keep them both or to get paid into my Monzo and get rid of the Santander one?
Maybe its me but IMHO the constant and overdone handwaving is a distraction to an otherwise helpful and thorough presntation. The message doesn’t need emphasising
@@StusReviewsUK Thanks for the great review. I found it very informative and entertaining. You said not using it any more as there is not a business account yet. What's your opinion about Coconut Bank account? They do offer business accounts for freelancers and small businesses. Could you do a review on it, please? Thank you 😊
Monzo is a scam - people's accounts are being sign out, closed, blocked access to money because they have no cash flow and selling the money to others for loans and they are paying people to write reviews for their shambles and fraudulent 'bank' which will be closing in the near future once brought to light for the authorities
*FREE £5 when you sign up for Monzo through this link:* join.monzo.com/r/7xxaqe5
Already signed mate :(
Stu’s Reviews dam I just signed up
NB! THIS NO LONGER WORKS. MONZO KILLED THIS FEATURE IN SEPT 2019.
😢
Doesnt work
you have an uncanny similarity in tone and presentation to jeremy clarkson
They definitely share a lot of mannerisms! The inwards breaths between words and that grumble that comes into his voice every now and again scream Jezza.
I was going to say the same very similar to Jeremy Clarkson indeed. 👍
One of my favourite reviewers just like Jezza
I CAN NOT UNHEAR IT SINCE I READ THIS OMG
Monzo is working on Cheque processing, you can't build Rome in a day. Bringing old tech into a new system isn't at the forefront of development. But it is on the radar.
That's been binned for now...not enough potential use
@@willpchess It's launching in August!
Starling too
I've been using Monzo for over a year now and love it. I recently opened an account with Starling, but I prefer Monzo myself. Starling is good though but I prefer the data Monzo provides. Business accounts aren't relevant to me but I know Monzo are bringing them out! I use Monzo for money management and every Monday I send my weekly budget in there, so I do keep my Lloyds Bank open for bills - which also solves the cheque issue. Even if Monzo had the cheque imaging on the app I'd still keep Lloyds open because it's beneficial to have more than one account just in case, in addition closing a long term account will negatively affect your credit score.
Ive been using monzo for a few months very good bank and they sort problems for you very directly and quick
Agreed! I can’t fault that 👌👍
@@StusReviewsUK Apparently they are working on the cheque scanning 👍
I loved the way ya don’t need proof of address to open account ...was opened in 5 mins....got card next day
They take proof of address from your photo ID
But I was worried with how easy it was to open an account, if you have a twin or look very very similar to someone they could easily open an account in your name
Another bank that's very good that doesn't charge you for use abroad is Starling Bank. They won British Bank of the year 2019. I like using both though. Thanks for the great video!
Although I agree, Starling are great too, I wouldn't go by the awards they won, as they used marketing to ask people to vote for them, giving them an unfair advantage to get that award.
@@secret-alias Ah I see. I did the bank account switch for both Monzo and Starling and both of these banks worked perfectly during my holiday in London. I also use Curve Card which helps space in my wallet too! 👍
Christopher Tyre Videography i have starling, monzo. Revolut
@@meinyumcheung393 Same here.
I’m struggling to decide whether to pick monzo or starling, have no idea what the difference is to be honest
I run a restaurant and a lot of my new staff need a bank account and I've always recommended Monzo. I've just signed up to Starling Bank myself as it works with Garmin Pay (for my smart watch) and has unlimited ATM withdrawals.
Plus their cards are cool
I love Monzo . Fook he Big Banks ... Its sooo cool feels Futuristic compared to the regular ones .
No, they're a scam - people's accounts are being sign out, closed, blocked access to money because they have no cash flow and selling the money to others for loans and they are paying people to write reviews for their shambles and fraudulent 'bank' which will be closing in the near future once brought to light for the authorities
@@socialmails5421 Yeah I don't think they are.
Do a review for revolut, can hold multiple balances in different currencies, trade crypto currencies, great security features, instant notifications, budgeting, saving, interbank exchange rate and more
Wait until Revolut blocks your money, then see how you love it.
They are not covered either
@Patrick Woodlock my friend, read their reviews on Trustpilot. They are seriously crazy, I've never had my money frozen by any other banking institution. I almost committed suicide, I was unable to pay my bills thanks to them and after several months, really I was staring at myself in the mirror and had to fight the little voice telling me to take my own life. Seriously, read Trustpilot and see how many people are in a similar situation.
I ❤️Monzo. The only downside is that you are not able to name virtual cards for use with Apple Pay, you have to remember the colour of the card. Confusing if you have more than 2 or 3 cards
On the overdraft point, pretty sure Monzo don’t charge interest on the overdraft, so £15.50 is the most you’d pay for a month regardless of the amount. With other banks there is a monthly fee, plus interest. I think... please correct if this is wrong.
Love your channel. You have such a calm way of reviewing things it's really relaxing to watch
I struggled when I used the overdraft but I messaged them through the app and they froze it and set up a direct debit to stop any fees 😊
When did it let you start your overdraft
Overdrafts are charged at 50p a day but it maxes out at £15.50 total for a month but yeah, does seem a bit more expensive compared to TSB etc. They are working on business accounts and paying in cheques by camera, if you go to the ‘Making Monzo’ in the help section it says what they’re working on bringing soon and in the future.
Otherwise always enjoy your reviews.
Sweet! Didn’t know it maxes out at £15.50 a month! And yeah I know that they have those features planned... but they’ve been talking about that stuff for ages! Less talk, and more action from them, and my review might’ve been a bit different! 😜
Stu’s Reviews haha yeah true. Hopefully they speed it up a bit.
Cheques by camera have been put on hold
@@StusReviewsUK 50p/day × 31 days in a month = £15.50, so it's not a special cap. It's not compound interest at least.
Never had to bank a cheque for the last 10 years.
10 years, cheques were still widely used 5 years ago and even more so 10 years ago so you've been lucky to avoid.
I had to send one a few months ago!
Doesn't look like you get alot of compensation haha
I have it was a tax rebate. One was also from a bill I had over paid.
Cheques are so old world, they haven't used them here in Holland for decades!
I’m using Revolut at the moment.
Not bad. It doesn’t have all the features that you mentioned.
It is good for using abroad as you don’t have to worry about conversion to say Euros for example and that is the main reason why I got it.
Monzo sounds good though.
Simon P but you need to pay £10 then it minus the card price of £4.99
Starling bank sounds even better. Better and safer than Revolut, and you have unlimited abroad spending without any fees.
Revolut has most of these features and adds a lot of its own, you need to top up by £10 it doesn’t charge you £10, if you really want you can transfer it back to where it came from after you top up
Simon P try Monzo you won’t regret
Mein Cheung Monzo does not charge
Nice review. If Monzo had a business account, would you switch from starling to Monzo for all of your accounts? If so why
The low battery triggers me!
Great! Thanks for this! love the app
Another great review! I'm a Monzo Investor, and I can honestly say that I love it, and that considering it's still a very young and trendy little fish in a very big, cantankerous and antiquated pond, it's doing amazingly. Regarding the cheques, yes they could build that into the app, but as you said, Monzo is primarily for modern tech oriented users who care little for how they go about cashing Granny's annual birthday cheque... It just seems a little odd to me to challenge a heavily tech oriented bank for not allowing you to scan and cash paper based cheques? Does your state-of-the-art video processing PC have a fax machine port? It doesn't, you say!? In this day and age?? Also, if they were to start building in every little piece of existing market tech, then they would be focusing less on what they do best, which is innovation. Which is the last thing I want as a user! I don't want Monzo to falter from their chosen path, (insert Star Wars stay on target meme here...), and become just another troglodyte bank. We already have plenty of those, sir... (Sorry for the War and Peace comment!)
I get what you’re saying... and normally I would agree- ie, the removal of CD drives, headphone ports on phones etc etc... however cheques are a very real thing, and a huge proportion of people (all over the age of 50 without a doubt) still use cheques and are extremely unlikely to adopt the new ethos of a tech bank! So until that generation slips into the dark abyss, I think these new challenger banks should at least cater for that fact. I’m not expecting a shiny Monzo cheque book through the post... just the ability to quickly manage my money from all sources and not just those directed at millennials 👌
But maybe my expectations are too high...
@@StusReviewsUK Hey Stu. Thanks for the reply, bud. I don't think your points could be considered excessive expectations! And we should always expect better. I just think that they're perhaps not case-study relevant. I guess the point I was making in ham-fisted way is that, yes cheques are a still a part of banking, especially to those over 50, as you said. But I would also wager that if you took a present day snap-shot of the Monzo user base, 50+ would be a very small portion of that user base. So why waste time, money and resources on creating a function that caters to a very small percentage of your customers, (also, if they're 50+ and using Monzo, I'd say they're pretty tech-savvy anyway!), and is counter-intuitive your product strategy, when it could better spent innovating new ways of banking for your primary customers? Just a consideration.
Also, could we perhaps have a whiskey review soon!? I always seem to want a glass of my Highland or Chivas whenever I watch your videos!
Keep an eye out towards the end of this year- we are travelling Scotland trying out as many whisky distilleries as we can and posting the reviews on my other channel - Stu’s Reviews Travel!
The question is how this would work if one day you want a mortgage?
Constant problem with all these new ways of banking is you still need a traditional bank account to add cash to them. If you do not deal with Cheques, you deal with cash, how do you add cash to for example Monzo, Transferwise, or Starling etc. account and avoid bank transfer fees through your traditional bank account? For example Paypal has some machines you can directly deposit cash to. Also can you use any currency with Monzo etc. or is it constantly converted from or to pound and perhaps there is a fee for that?
With starling you can cash money in at any post office.
Not so. Starling Only a charge for business deposits. Here’s what it says on their website;
The deposit service is *free for personal customers* and costs £3 for business customers depositing up to £1,000. After that, there’s a 0.3% charge on the amount deposited.
ooh, the "nearby friends/payments" thing looks open to abuse from nearby hackers
Do you get a different card for each pop?
Hey Stu! Would you be able to review Revolut?
Thanks for the review . I have some questions, can I use monzo card to pay online? how does it work?
Adriana Q. Of course u can
Hello can anyone tell me the cash point limit for Monzo please . Thanks
Really helpful video thanks. Do your friends need to be with Monzo to use the pay friend near by feature?
Lee Moss yes
I have a Monzo which I use and put weekly pay into it. I still have my old fashioned bank account with Santander. Do you think it is better to keep them both or to get paid into my Monzo and get rid of the Santander one?
Catherine Smith im keeping my main bank noway will i transfer all my £ here
Catherine Smith this is wt im thinking
I've found a few ATMs dont accept Monzo cards, so I keep my natwest card on me just in case.
I’m looking at getting this for when I go on holiday in a few weeks because I saw they don’t charge fees abroad. Is it worth it for just that?
Yes
Maybe its me but IMHO the constant and overdone handwaving is a distraction to an otherwise helpful and thorough presntation. The message doesn’t need emphasising
Thanks for the feedback! Will take it on board 👌
HSBC charge 5pounds a day for unarranged overdrafts over 5pounds
With the pots you can only use Round-Ups to one Pot, right?
Quatie yes this is true
They have just announced business accounts , still very early days though.
Yeah they’ve announced them- but only to 200 people.... 🧐 could still be waiting 12 months!
@@StusReviewsUK Thanks for the great review. I found it very informative and entertaining. You said not using it any more as there is not a business account yet. What's your opinion about Coconut Bank account? They do offer business accounts for freelancers and small businesses. Could you do a review on it, please? Thank you 😊
I dont like the way their new business cards look. So dull
Does monzo have interest on personal current accounts?
Great vid
Thx for the help
No but they have savings accounts that do
Starling does
Can you only send nearby friends money to people that have a monzo account?
£8.50 after brexit.....oof
SupremeAsura huh?
@@UltraJamZHD the snicker bar joke
SupremeAsura 😂I commented before the joke came my bad 🤣
@@UltraJamZHD no worries
shout out for the mous case !
Which Is best for Withdrawing Cash & Spending Abroad, Monzo or Starling?
Have a look at my video ‘curve - 6 months on’... might help you!
Starling it has no fees monzo has fees after withdrawing £200
Can I use it for amazon?
Yes!
You can use it for everything
How do you add physical money into your bank if they don’t have physical stores you can walk or drive to?
Pay money in using paypoint but it costs you a £1 each time or do a bank transfer
In this bank account we can use for payroll income?
Yes you can have your salary paid into it
Is this recommended for traveling the US?
yes! there are no fees for using Monzo abroad! :)
No, I don't recommend using any debit card abroad.
Fj Fj why lol
Lol use auto English captions at the start
dirty money
Do the nearby friends have to be using Monzo too or can you send and request money from people using any bank?
How i can find out IBAN in Monzo account
They are working on introducing business accounts
But for how long... means nothing until they actually release them! 😂
Stu’s Reviews fair enough.
Just got a monzo account.. and this turns up on my RUclips feed. #CapitalismSurveillance
I dropped a like just for the brexit joke
Pretty sure he's Clarkson's brother...
I can neither confirm nor deny
Could you make a review about Starling Bank?
and you can't send and receive money abroad yet, which is super annoying...
Can Monzo accept a Bacs payment from my pension fund
Yes pretty sure they can and they will be fast
Monzo or Starling Bank?
I have both but I prefer monzo
I think starling and revolt are better
Monzo is a scam - people's accounts are being sign out, closed, blocked access to money because they have no cash flow and selling the money to others for loans and they are paying people to write reviews for their shambles and fraudulent 'bank' which will be closing in the near future once brought to light for the authorities
Costco have/ had smart plugs
Brexit would make everything cheaper smh
Only time will tell! I’ll come back to you early next year...
@@StusReviewsUK lmao I like how you have a close connection to your viewers
My credit history is gone I’m
On cjj if I open this account my money will be safe ?
Yes they are protected under the fscs scheme and regulated by FCA and pra
James Allen thank so I suppose that’s a yes ? Sorry dunno about that all
All Apparel yes, just as safe as any highstreet banks
Yet another Brexit drama queen.
Brexit & Monzo are two separate subjects. Don’t mix them together