Hey Sasha, would you sometime be able to do some of the best UK mobile networks to go with? I've looked through RUclips but there's hardly anyone doing videos about that. Thanks, great video by the way :)
@@leroyglass2621 To be honest, I probably won’t go there as I try to focus my attention on personal finance and mobile networks are a little bit of a detour from that
2021 likes Lol :) Yes,even better 20210...202100... I think this channel has great value I hope you succed very soon in every area of your life. Happy 2021! God bless you abundantly!:)
Hi, can you answer my question please, no one did 😐 Which bank in your opinion is the best to get paid by RUclips? I have to chose one, but I still don’t know what’s the best for it 🙁
thanks for this video Sasha. I have a question for online banks, if you want to purchase a house who do you talk to as they don't have any physical banks, how are their deals in purchasing a house compared to traditional banks?
You really should be shopping around for mortgage deals anyway - your bank will probably not do a particularly good deal in most cases. But you can talk to them online/phone for any issues too. 👍
Happy new year and another good video. I have a Starling acc but still use Santander 123 Select as my main account. Ok it costs £5 per month but you do get interest of 0.7% on balances up to 20k and the 1,2,3% cash-back on direct debits. Also get retailer cash-back offers that are useful for debit card transactions for example at the coop or costa.After paying the acc fee I’m still up around £90 per year. Also they have a wide branch network, post office banking, free ATM withdrawals at Santander ATMs in Spain plus what i think is the best of the non challengers app out there
I'm not sure I agree on the best non-challenger app and although their 123 stuff has been popular (largely because of that credit card that could get very high returns), some of the downsides such as one of the worst reported customer service levels (and I have personally experienced it) and some very antiquated processes that had me pulling my teeth out. I also am not a huge fan of perks and rewards that are hyper specific, variable and require a very high level of engagement from customers like knowing exactly where you do or don't get cashback etc. The majority of customers aren't that savvy or just don't have the time to figure out the latest deals so on balance, I don't rate those types of accounts as highly as those offering more streamline and easier to make use of perks if that makes sense.
@@SashaYanshin interesting although if I operated the monzo, starling or 1st direct account in the same way then I would be £90 down per annum. The free ATM use in Spain is a big one as the starling card is no use for cash in Spain as nearly all Spanish ATMs charge fee usage so a santander card at their ATMs is one of the only ways to get cash out fee free I've found. It's all down to personal experience and in my dealings with them I have only had great customer service. Horses for courses and all that
Great video. I am with Monzo and I love it. I want to apply for a credit card, (for the sole purpose of building up a credit history). Can I apply for a credit card if Monzo is my only bank account and has been for about 4 years? Or does a credit card company need you to have a 'traditional' bank account?
Makes no difference whatsoever. The only thing that might make a tiny difference is whether your bank account has an overdraft and with Monzo I suspect you may not have one, but which actual bank it is that you use does not make any difference to your credit profile.
Sasha thanks a lot for the video! As usual great summary. Can you please advise on which bank to use for business account? I think that might be a good idea to even record video on that as you probably have experience with quite a few of them!😀
Both Starling and Monzo are great bank accounts, but for different people, Monzo more for those who want to track their money, what they are spending etc. Starling is like a legacy bank with the modern features. I've got both, but Starling is the one for me and has been since I moved full time back in 2017. Starling also has desktop banking.
Sasha, just seen this video! Just wondering on your approach to bank accounts, do you have different accounts for different reasons I.e rewards, or do you keep things simple?
@@JamieBHolland If you particularly like that sort of thing. I value other things in a bank account personally. Also in general I always use a credit card for transacting anyway because it is far better than using the debit card linked to your bank account…
@@SashaYanshin No, I 100% agree there is no point in having £1500 tied up for the sake of £5 when that could be put to better use elsewhere. To be honest, I’m the same all my spending is on the credit card and my account is really just used for Direct Debits.
Very glad you mentioned Triodos! I'm banking with them. What are your thoughts on Ecology BS? Would you say Ethical banking is becoming more popular since the pandemic? Thanks for the video and happy new year 🥳
To be honest I don't have much to say about Ecology as I've not used them - they don't do current accounts so weren't ever going to be in the list and to be frank for savings and mortgage products, price is 95% of what's important about the product so I don't really cover those kinds of products because they're a bit boring to talk about :)
Not really as it stands - I personally think they are a bit of a gimmick anyway if your bank is actually good at preventing/mitigating fraud but some people do like them I guess.
Great vid Sasha, I’ve spent the last few days downtime to look at the same thing! Agree with most of the list, thoughts on club Lloyd’s? Seems to me to have the best benefits and offers for savings accounts.
If I'm honest - not too excited. I dislike accounts which force you to pay a monthly fee if you don't switch your direct debits & salary over and the benefits are pretty limited - just 0.6% interest on balances , the cashback offers are "up to" and you can't see them before you actually sign up and the other perks... I'm just not a fan of hyper specific rewards that can only be redeemed with a specific brand and usually with a load of restrictions (like only using your free cinema tickets on weekday mornings - I don't know what the terms are - just using a typical example with other similar promotions from the past).
@@SashaYanshin I think the interest rate is up to about 0.8% effectively as balances from 4K to 5k is 1.5%. Also it has a regular saver of up £400 per month and 1.5% fixed for 12 months which seems pretty highs comparatively from what I’ve seen. Seems to me like you would make more through interest on these if you have the cash available
I do hear you but for me, if someone has that much cash sitting about on a permanent basis (i.e. your account is always at least £5k in the green), there are far far better places to deploy it than to earn 0.8% interest per year.
Sure! I actually have some already - these 2 are probably particularly relevant: 1. Investing For Beginners - ruclips.net/video/5_Z5Zw4t72c/видео.html 2. Investing For The First Time - Your Options: ruclips.net/video/2FcvV3Y0aUM/видео.html
Hi Sasha, thinking of joining Triodos, I like what they stand for. Do you have any thoughts on 'safe' banks, away from being government run. I've heard we're looking at a mass Bank crash soon, where does one invest to get away from this risk.. Thank you!
I don't know how you'd define safe in any reasonable way and I have heard that we're about to have the biggest crash ever or that the Big Reset is about to start for the last 20 years so I don't pay too much attention to the hot air.
Ive been looking around to see if there is such a Premium UK Bank Account that covers car insurance. Phone and Travel Insurance are good, not £15 a month good (Monzo), but i began wondering what is possible. Eventually ive found your channel, watched a few videos, liked what ive seen and subscribed.
Thanks Tom - unfortunately if you want perks like insurance, you'll need to pay for it. However I personally prefer to separate those things and I don't think the current products actually provide the right value for how much they charge.
Not too much if I am honest. Inherited an outdated platform and other than the longer opening hours of their branches there really isn’t anything to talk about.
So there are banks in the UK - actually in the world or should I say in the Universe - that are better than firstdirect? I have been using firstdirect for over 10 years and I did not think it was possible to beat that type of service.
I'm thinking of using either Starling or Monzo just to transfer around £100 each month from my First Direct account just to let it build up and not touch it unless I really need to. Good idea or not?
I’m with Santander and I’ve been looking at different banks and they’re benefits, I was thinking of switching to starling but I still don’t know if it’s the right choice 🤔
I would move to starling, but I still dunno how I feel about it being just online. I keep thinking what happens if I lost my card and phone... how easy would it be to get everything back, where you could just walk into the normal banks branch
@@smoothie9931 Would be the same as with the others - A phone call and your card will be back with you soon. I’d say the likelihood is you’d get your card back a lot more quickly with Starling/Monzo than a high street bank.
I think that's a very specific niche and to be frank - for those who do want to trade crypto, using something that isn't a bank or an all purpose fintech (like Revolut) will probably be far better, cheaper and easier.
@@cristianbejan1970 :) I just don't think I want to go into crypto at the moment because that's not really my niche and I wouldn't genuinely recommend it to people - will leave this one on hold for now :)
The way I see it, it's just a bank account that pays you £36 to be their customer for a year but without any benefits or cool features at all but requiring you to move your direct debits over. Not particularly excited by it.
@@SashaYanshin Maybe not exciting, but £36 a year is more than even the 2% interest for 1 year is from Nationwide. The Natwest App is actually quite good as well, I have a Monzo account so I know what it's like to use a good banking app. They've added credit score to the app, basic spending breakdown, you can withdraw cash just using the app, and since is high street bank there are still branches so paying in cash and cheques is easy. When the list is 5 best for everyday users, I think Natwest is a good choice.
I have them but for me they aren't moving in the right direction based on some recent interactions but that might just be me (also will talk about it at some point in a video in the next few weeks)
It does seem like a good idea to have a backup when some of these (and Monzo has been mentioned) go and block your accounts for weeks at a time to reportedly investigate suspected fraud.
@@SashaYanshin please explain this reply, what do you mean by ‘go and block your accounts for weeks at a time to reportedly investigate suspected fraud’? My bank did this to me just before Christmas and it was a mistake but I almost didn’t have food because of it. So I’m moving banks. So I wanted to know which bank you are referring to monzo or Barclays ?
@@kim_pheonix9138 All banks do it as part of fraud prevention but over the last year, Monzo and Monese both had a disproportionately high number of people reporting their accounts being blocked at some point - that’s what I was referring to.
I am paying 13 quid a month to nationwide main reason to keep the account is breakdown cover mobile insurance (I made 2 claims in last 5 years) I wonder I have any other options on a old 2007 car?
If you feel that the value is there and you make use of the insurance products, then that’s great. £13 a month is on the expensive side but it really does depend on whether you see value in it!
Nation wide was giving me 5% up to £2500 early 2020 just before the virus, luckily I got that for a whole year so basically £10 interest a month, now it's over I'm looking for a new deal.
Can you suggest forms of id and proof of address for over 18s trying to open a bank account living with their parents. So difficult when they have no bills in their name or do not drive or hold a passport. Any suggestions.
You can get a provisional driving licence without having to drive - that's the best option for ID and as for proof of address - can you get any bills in your name? Mobile Phone contract? Netflix subscription? Audible subscription? Anything else you can subscribe to where you get regular bills?
Here's me thinking Phone insurance, holiday insurance and cheaper airport lounge access was good for £15 a month with Monzo then he says it's not worth it :(
Well I generally don't think that those are worth it even in normal times in my opinion. Airport Lounge Access usually lets you get into the crummiest lounge that exists where there's often not even a chair to sit on - I've come across this in different airports all over the world with similar packages from Amex for example. But the worst thing was that this product came out in the middle of a pandemic which really shows a lack of connection with their customers.
Have to say I watch your videos and do like your output but I disagree on this video as this is your your opinion only on what's best? What if someone has been with say Lloyds Barclays NatWest ect... Let's say for over 20-30 years to them it's good as it works for them. Then you fail to mention some other accounts I am with Halifax I get £5 a month for every day banking rewards. Then there is club Lloyds and Virgin money who pays more interest than all the accounts your mention. As much as I respect your views and video this is what you think and not everyone will see it from your point.
Yep - purely my opinion and I made that point pretty clearly early on. If someone loves the bank they’ve been with for 30 years, all power to them! I’m not telling them they have to change. I only wanted to talk about 5 accounts to keep the video short and picked them based on my view of a combo of features, experience, numbers and the overall package. Sure - some of the ones you mentioned offer alright perks and I answered some other comments on the accounts you mentioned. I was not basing mine exclusively on these numbers as I think there are more factors to consider. Best thing about opinions is that you can have one and it can be different to mine and that’s cool. 😎
Let's shorten the list a bit when it comes to high street banks. Everything RBS related is sh*t with their infrastructure outsourced to incompetent engineers in India and suffering outages regularly. Permanent tsb, coop, HSBC and the lot of virtual banks managed by third parties can be crossed out as well. First Direct seems good but HSBC are trigger happy when it comes to freezing accounts, so I'd steer clear. The least problematic high street bank seems Barclays. Nationwide is good as well although it's a building society. Said that, I'd go with Sterling or Monzo. On a side note, the fact that in the rest of Europe you can just pop into any bank and open an account on the spot, and that in the UK you need to book an appointment speaks volumes about how the whole industry is still in the middle ages. On the other hand the kind of online banking I was offered in my country in 1998 became available here around 2010, so...
That attitude from the big banks is why they are losing thousands of customers every month. To open an HSBC business account, you still need to go to a branch and fill out a bazillion forms. Pretty infuriating as their argument is that it's a legal requirement which is of course complete BS as it's just their poor interpretation of what is a legal requirement. Completely agree with you. There's a big shift happening and it seems the big banks still haven't figured out that things are about to change in a big way.
@@SashaYanshin what pisses me off is this obsession about diligence to contrast money laundering, which in the end is just a facade that cripples regular people whilst behind the scenes major banks keep handling money on behalf of criminals.
I do agree - the official line that "it's out of our hands because it's the law" is a complete lie as it is simply their interpretation of the law and then a very poor implementation of that interpretation.
Did you lose money or did they repay the money you lost to fraud? Every bank card can get compromised whether by stealing the data from an online shop or through skimming it at a cash machine or a shop - the question is how does the bank then deal with it afterwards.
@@SashaYanshin they repaid back the money I lost. But they were too slow to pick up the fraud. So they tried to use my card to order dominions and got the CVV wrong the notification flashed up for a second then I went to check it in the history it appears those things are not saved on the app.so I was confused to what happened.then they tried to use it at deliveroo and the algorithm SF are deliveroo stopped the 2nd payment.(I used to work at deliveroo in the tech payments team so I actually tested that features it's ironic my card was used to order deliveroo but hey it happens). I had to call starling and then recovered the money and I gave them my feedback
@@SashaYanshin so due to that experience I would not use starling as my current acc and they had no verification required when they tried to order online Domino's despite the fact I have never used that card online ever . I feel they security fraud system is flawed
@@Charleneloves That would only work with Starling if it went through as a card present transaction unless it was some random case of using magstripe AND it being enabled in the app or a weird DD trick or something. So sounds like your card was cloned somewhere where you used it which would happen the same with any bank. Pretty sure with me every online transaction requires the code from within the app to authorise payment.
It's a much much smaller audience and the range of products is tighter too. I personally have moved over to Starling with my business and am very happy. :)
solid china banks with sloid divis huge institutions with pe 4 to 5 justify western banks with shaky balance sheets and divis priced with pe 18 to 40, does not make sense
Too bad for me although I can tell you that if I didn't talk about some of the earlier points, I'd get a load of comments telling me I forgot to mention things but hey - just doing my best on here :)
@@SashaYanshin trust me there were brilliant useful points from the start. Ignore these stupid comments - the majority of people on here find your channel really helpful , it’s so clearly explained - keep doing what you’re doing please :)
Can we get 2021 likes on this one to kick off the New Year?!
Hey Sasha, would you sometime be able to do some of the best UK mobile networks to go with?
I've looked through RUclips but there's hardly anyone doing videos about that.
Thanks, great video by the way :)
@@leroyglass2621 To be honest, I probably won’t go there as I try to focus my attention on personal finance and mobile networks are a little bit of a detour from that
2021 likes Lol :)
Yes,even better 20210...202100...
I think this channel has great value I hope you succed very soon in every area of your life.
Happy 2021!
God bless you abundantly!:)
@@cookinspire4183 You've got to set some ambitious targets, right?! We're 10% there already - still a chance we'll get there in 2021!!!
Hi, can you answer my question please, no one did 😐
Which bank in your opinion is the best to get paid by RUclips?
I have to chose one, but I still don’t know what’s the best for it 🙁
No real difference - RUclips will pay you in £ if you are based in the UK and any bank account should work just fine for that. 👍
Hello nice meeting you
Thank you for the summary 😊
No problem Mohamed - glad it was useful!
thanks for this video Sasha. I have a question for online banks, if you want to purchase a house who do you talk to as they don't have any physical banks, how are their deals in purchasing a house compared to traditional banks?
You really should be shopping around for mortgage deals anyway - your bank will probably not do a particularly good deal in most cases. But you can talk to them online/phone for any issues too. 👍
Happy new year and another good video. I have a Starling acc but still use Santander 123 Select as my main account. Ok it costs £5 per month but you do get interest of 0.7% on balances up to 20k and the 1,2,3% cash-back on direct debits. Also get retailer cash-back offers that are useful for debit card transactions for example at the coop or costa.After paying the acc fee I’m still up around £90 per year. Also they have a wide branch network, post office banking, free ATM withdrawals at Santander ATMs in Spain plus what i think is the best of the non challengers app out there
I'm not sure I agree on the best non-challenger app and although their 123 stuff has been popular (largely because of that credit card that could get very high returns), some of the downsides such as one of the worst reported customer service levels (and I have personally experienced it) and some very antiquated processes that had me pulling my teeth out.
I also am not a huge fan of perks and rewards that are hyper specific, variable and require a very high level of engagement from customers like knowing exactly where you do or don't get cashback etc. The majority of customers aren't that savvy or just don't have the time to figure out the latest deals so on balance, I don't rate those types of accounts as highly as those offering more streamline and easier to make use of perks if that makes sense.
@@SashaYanshin interesting although if I operated the monzo, starling or 1st direct account in the same way then I would be £90 down per annum. The free ATM use in Spain is a big one as the starling card is no use for cash in Spain as nearly all Spanish ATMs charge fee usage so a santander card at their ATMs is one of the only ways to get cash out fee free I've found. It's all down to personal experience and in my dealings with them I have only had great customer service. Horses for courses and all that
Happy new year Sasha
Your channel was one of the best things that happened to me in 2020
Keep up the great work 💪
Thanks for the flattery Tamas! Hope you have an awesome 2021!
Really useful content Sasha!! 🙏
Thanks a lot Edmund!
Great video. I am with Monzo and I love it. I want to apply for a credit card, (for the sole purpose of building up a credit history). Can I apply for a credit card if Monzo is my only bank account and has been for about 4 years? Or does a credit card company need you to have a 'traditional' bank account?
Makes no difference whatsoever. The only thing that might make a tiny difference is whether your bank account has an overdraft and with Monzo I suspect you may not have one, but which actual bank it is that you use does not make any difference to your credit profile.
Hi :)
I did make it to the end of the video, gave it a like half way through very useful, interesting thank you so much! Great Job! :)
Thank you! :))
Happy New Year Sasha!
Same back to you Aaron!
Sasha does this top 5 include business banking
Sasha thanks a lot for the video! As usual great summary.
Can you please advise on which bank to use for business account? I think that might be a good idea to even record video on that as you probably have experience with quite a few of them!😀
I personally have moved to Starling with my business stuff and I love it. But it really is a personal choice - others may have a different opinion.
Both Starling and Monzo are great bank accounts, but for different people, Monzo more for those who want to track their money, what they are spending etc. Starling is like a legacy bank with the modern features. I've got both, but Starling is the one for me and has been since I moved full time back in 2017. Starling also has desktop banking.
I actually think they are trying to achieve the same thing in different ways. Agree with your assessment though!
Sasha, just seen this video! Just wondering on your approach to bank accounts, do you have different accounts for different reasons I.e rewards, or do you keep things simple?
I just have Starling now although I do have some backup options open. 👍
@@SashaYanshin No, that’s good to know, I know that there’s a few out there that have accounts open purely for rewards. Do you think that’s worth it?
@@JamieBHolland If you particularly like that sort of thing. I value other things in a bank account personally. Also in general I always use a credit card for transacting anyway because it is far better than using the debit card linked to your bank account…
@@SashaYanshin No, I 100% agree there is no point in having £1500 tied up for the sake of £5 when that could be put to better use elsewhere. To be honest, I’m the same all my spending is on the credit card and my account is really just used for Direct Debits.
Very glad you mentioned Triodos! I'm banking with them. What are your thoughts on Ecology BS? Would you say Ethical banking is becoming more popular since the pandemic? Thanks for the video and happy new year 🥳
To be honest I don't have much to say about Ecology as I've not used them - they don't do current accounts so weren't ever going to be in the list and to be frank for savings and mortgage products, price is 95% of what's important about the product so I don't really cover those kinds of products because they're a bit boring to talk about :)
Sasha, what is your Starling referral link, so Starling can plant a tree on our behalf when I sign up?
Sure - here it is! www.starlingbank.com/referral?code=80TFVJ
@@SashaYanshin great, I'll use ^that
Thanks Sasha for a another great video and have a Happy New Very Productive Year
Thanks Leonard! All the best to you and hopefully you’ll kick ass in whatever endeavours await!
great video, One question, does starling allow virtual cards for online shopping ?
Not really as it stands - I personally think they are a bit of a gimmick anyway if your bank is actually good at preventing/mitigating fraud but some people do like them I guess.
Great vid Sasha, I’ve spent the last few days downtime to look at the same thing! Agree with most of the list, thoughts on club Lloyd’s? Seems to me to have the best benefits and offers for savings accounts.
If I'm honest - not too excited. I dislike accounts which force you to pay a monthly fee if you don't switch your direct debits & salary over and the benefits are pretty limited - just 0.6% interest on balances , the cashback offers are "up to" and you can't see them before you actually sign up and the other perks... I'm just not a fan of hyper specific rewards that can only be redeemed with a specific brand and usually with a load of restrictions (like only using your free cinema tickets on weekday mornings - I don't know what the terms are - just using a typical example with other similar promotions from the past).
@@SashaYanshin I think the interest rate is up to about 0.8% effectively as balances from 4K to 5k is 1.5%. Also it has a regular saver of up £400 per month and 1.5% fixed for 12 months which seems pretty highs comparatively from what I’ve seen. Seems to me like you would make more through interest on these if you have the cash available
I do hear you but for me, if someone has that much cash sitting about on a permanent basis (i.e. your account is always at least £5k in the green), there are far far better places to deploy it than to earn 0.8% interest per year.
@@SashaYanshin could you do a video on this at some point? Would be good to see what other options are out there to make the best use of it!
Sure! I actually have some already - these 2 are probably particularly relevant:
1. Investing For Beginners - ruclips.net/video/5_Z5Zw4t72c/видео.html
2. Investing For The First Time - Your Options: ruclips.net/video/2FcvV3Y0aUM/видео.html
Brilliant review thank you
Thanks 😊
Kyansasha, but when i tried to open it, failed many times and i tried to HSBC Bank in England, your advertise is good.
Happy new year great overview thank you!
And to you too Kevin! Thank you!! :)
Challenger banks head the list ! ⬆️ I had a little feeling this might have been the case...😂 Thank you for the summary!
I suspect anyone who watches my videos would guess the top two... 🤣
Hi Sasha, thinking of joining Triodos, I like what they stand for. Do you have any thoughts on 'safe' banks, away from being government run. I've heard we're looking at a mass Bank crash soon, where does one invest to get away from this risk..
Thank you!
I don't know how you'd define safe in any reasonable way and I have heard that we're about to have the biggest crash ever or that the Big Reset is about to start for the last 20 years so I don't pay too much attention to the hot air.
Sasha thanks for the great review. I have starling I really like it especially for eu. But I use another bank may change completely to starling
That’s exactly what I’ve done 👍
Hi if you are setting up a group business with 2+ people what would be the best bank account to go for?
I'm not sure what you mean by a "group business". Starling allows multi-owner business accounts and I use them and like them quite a bit :)
Ive been looking around to see if there is such a Premium UK Bank Account that covers car insurance. Phone and Travel Insurance are good, not £15 a month good (Monzo), but i began wondering what is possible. Eventually ive found your channel, watched a few videos, liked what ive seen and subscribed.
Thanks Tom - unfortunately if you want perks like insurance, you'll need to pay for it. However I personally prefer to separate those things and I don't think the current products actually provide the right value for how much they charge.
What are your thoughts on METRO BANK overall. Features, accounts, support?
Not too much if I am honest. Inherited an outdated platform and other than the longer opening hours of their branches there really isn’t anything to talk about.
They are on the brink of collapse and their owner has a colorful history in the USA (Google it).
@@SashaYanshin appreciate you replying and giving your thoughts.
So there are banks in the UK - actually in the world or should I say in the Universe - that are better than firstdirect? I have been using firstdirect for over 10 years and I did not think it was possible to beat that type of service.
I'm thinking of using either Starling or Monzo just to transfer around £100 each month from my First Direct account just to let it build up and not touch it unless I really need to. Good idea or not?
I'm not sure what you're trying to achieve. What are you trying to "build up"?
I’m with Santander and I’ve been looking at different banks and they’re benefits, I was thinking of switching to starling but I still don’t know if it’s the right choice 🤔
You can always try some out - costs nothing to open a Starling account for a test drive 👍
@@SashaYanshin thank you very much hope you had a great New Year’s Eve 😊🙌🏾🎆
I would move to starling, but I still dunno how I feel about it being just online. I keep thinking what happens if I lost my card and phone... how easy would it be to get everything back, where you could just walk into the normal banks branch
@@smoothie9931 Would be the same as with the others - A phone call and your card will be back with you soon. I’d say the likelihood is you’d get your card back a lot more quickly with Starling/Monzo than a high street bank.
Great! Can you do Best UK banks that supports crypto?
I think that's a very specific niche and to be frank - for those who do want to trade crypto, using something that isn't a bank or an all purpose fintech (like Revolut) will probably be far better, cheaper and easier.
@@SashaYanshin I would like a video about crypto too. Banks that are "friendly" with crypto.
@@cristianbejan1970 :) I just don't think I want to go into crypto at the moment because that's not really my niche and I wouldn't genuinely recommend it to people - will leave this one on hold for now :)
Any thoughts or views on the NatWest Reward current account?
The way I see it, it's just a bank account that pays you £36 to be their customer for a year but without any benefits or cool features at all but requiring you to move your direct debits over. Not particularly excited by it.
@@SashaYanshin Maybe not exciting, but £36 a year is more than even the 2% interest for 1 year is from Nationwide. The Natwest App is actually quite good as well, I have a Monzo account so I know what it's like to use a good banking app. They've added credit score to the app, basic spending breakdown, you can withdraw cash just using the app, and since is high street bank there are still branches so paying in cash and cheques is easy. When the list is 5 best for everyday users, I think Natwest is a good choice.
Happy NY - made £2.53 interest on my Monzo premium 👍🏻 every little helps 🙌🏻🥳
Woop! That’s only £12.47 down last month then! 😂
Highly recommend First Direct
I have them but for me they aren't moving in the right direction based on some recent interactions but that might just be me (also will talk about it at some point in a video in the next few weeks)
I have monzo as my main but barclays as a back up
It does seem like a good idea to have a backup when some of these (and Monzo has been mentioned) go and block your accounts for weeks at a time to reportedly investigate suspected fraud.
@@SashaYanshin please explain this reply, what do you mean by ‘go and block your accounts for weeks at a time to reportedly investigate suspected fraud’? My bank did this to me just before Christmas and it was a mistake but I almost didn’t have food because of it. So I’m moving banks. So I wanted to know which bank you are referring to monzo or Barclays ?
@@kim_pheonix9138 All banks do it as part of fraud prevention but over the last year, Monzo and Monese both had a disproportionately high number of people reporting their accounts being blocked at some point - that’s what I was referring to.
I am paying 13 quid a month to nationwide main reason to keep the account is breakdown cover mobile insurance (I made 2 claims in last 5 years) I wonder I have any other options on a old 2007 car?
If you feel that the value is there and you make use of the insurance products, then that’s great. £13 a month is on the expensive side but it really does depend on whether you see value in it!
Nation wide was giving me 5% up to £2500 early 2020 just before the virus, luckily I got that for a whole year so basically £10 interest a month, now it's over I'm looking for a new deal.
So glad my parents didn't teach me shit about adulting but expect me to know how to be one. Thanks for the useful information
Haha. Glad it was helpful!
Are monzo and starling better than high street banks?
I definitely think so for ease of use, features and the simplicity that they offer but I guess some people may disagree for whatever reason.
Can you suggest forms of id and proof of address for over 18s trying to open a bank account living with their parents. So difficult when they have no bills in their name or do not drive or hold a passport. Any suggestions.
You can get a provisional driving licence without having to drive - that's the best option for ID and as for proof of address - can you get any bills in your name? Mobile Phone contract? Netflix subscription? Audible subscription? Anything else you can subscribe to where you get regular bills?
@@SashaYanshin thank you for your reply I will look into your suggestions x
Here's me thinking Phone insurance, holiday insurance and cheaper airport lounge access was good for £15 a month with Monzo then he says it's not worth it :(
Well I generally don't think that those are worth it even in normal times in my opinion. Airport Lounge Access usually lets you get into the crummiest lounge that exists where there's often not even a chair to sit on - I've come across this in different airports all over the world with similar packages from Amex for example.
But the worst thing was that this product came out in the middle of a pandemic which really shows a lack of connection with their customers.
Have to say I watch your videos and do like your output but I disagree on this video as this is your your opinion only on what's best?
What if someone has been with say Lloyds Barclays NatWest ect... Let's say for over 20-30 years to them it's good as it works for them.
Then you fail to mention some other accounts I am with Halifax I get £5 a month for every day banking rewards.
Then there is club Lloyds and Virgin money who pays more interest than all the accounts your mention.
As much as I respect your views and video this is what you think and not everyone will see it from your point.
Yep - purely my opinion and I made that point pretty clearly early on.
If someone loves the bank they’ve been with for 30 years, all power to them! I’m not telling them they have to change.
I only wanted to talk about 5 accounts to keep the video short and picked them based on my view of a combo of features, experience, numbers and the overall package.
Sure - some of the ones you mentioned offer alright perks and I answered some other comments on the accounts you mentioned. I was not basing mine exclusively on these numbers as I think there are more factors to consider.
Best thing about opinions is that you can have one and it can be different to mine and that’s cool. 😎
@@SashaYanshin yea I get that and respect that , I just wanted to point out making the most of your money and just wanted to highlight a couple 👍
is any of this banks giving cash rewards for referral friend ??? revolut gave me 60 pounds for a referral ...
For customer service I don’t believe you can beat First Direct
That’s why they made it into the Top 5! :))
Wow, Revolut didn't even make the list! Why is that?
Not a bank account!
Monzo wasn’t the first to offer freezing and unfreezing cards. That was Revolut.
Maybe you're right - I don't know exactly when each launched it. :)
@@SashaYanshin I've had both for a while. Revolut brought out freezing cards, and virtual cards, first. Monzo brought out pots first though.
I was close my bank account Halifax after this came my payment in this account how i withdrawal money account
Let's shorten the list a bit when it comes to high street banks. Everything RBS related is sh*t with their infrastructure outsourced to incompetent engineers in India and suffering outages regularly. Permanent tsb, coop, HSBC and the lot of virtual banks managed by third parties can be crossed out as well. First Direct seems good but HSBC are trigger happy when it comes to freezing accounts, so I'd steer clear.
The least problematic high street bank seems Barclays. Nationwide is good as well although it's a building society.
Said that, I'd go with Sterling or Monzo.
On a side note, the fact that in the rest of Europe you can just pop into any bank and open an account on the spot, and that in the UK you need to book an appointment speaks volumes about how the whole industry is still in the middle ages. On the other hand the kind of online banking I was offered in my country in 1998 became available here around 2010, so...
That attitude from the big banks is why they are losing thousands of customers every month. To open an HSBC business account, you still need to go to a branch and fill out a bazillion forms. Pretty infuriating as their argument is that it's a legal requirement which is of course complete BS as it's just their poor interpretation of what is a legal requirement.
Completely agree with you. There's a big shift happening and it seems the big banks still haven't figured out that things are about to change in a big way.
@@SashaYanshin what pisses me off is this obsession about diligence to contrast money laundering, which in the end is just a facade that cripples regular people whilst behind the scenes major banks keep handling money on behalf of criminals.
I do agree - the official line that "it's out of our hands because it's the law" is a complete lie as it is simply their interpretation of the law and then a very poor implementation of that interpretation.
Shame that Starling doesn't have USD account like revolut.
They have a Euro one and a USD one for
business. I imagine they might have the consumer version before long :)
Starlings security is bad my card got compromised and they didn't pick it up
Did you lose money or did they repay the money you lost to fraud? Every bank card can get compromised whether by stealing the data from an online shop or through skimming it at a cash machine or a shop - the question is how does the bank then deal with it afterwards.
@@SashaYanshin they repaid back the money I lost. But they were too slow to pick up the fraud. So they tried to use my card to order dominions and got the CVV wrong the notification flashed up for a second then I went to check it in the history it appears those things are not saved on the app.so I was confused to what happened.then they tried to use it at deliveroo and the algorithm SF are deliveroo stopped the 2nd payment.(I used to work at deliveroo in the tech payments team so I actually tested that features it's ironic my card was used to order deliveroo but hey it happens). I had to call starling and then recovered the money and I gave them my feedback
@@SashaYanshin so due to that experience I would not use starling as my current acc and they had no verification required when they tried to order online Domino's despite the fact I have never used that card online ever . I feel they security fraud system is flawed
@@Charleneloves That would only work with Starling if it went through as a card present transaction unless it was some random case of using magstripe AND it being enabled in the app or a weird DD trick or something. So sounds like your card was cloned somewhere where you used it which would happen the same with any bank.
Pretty sure with me every online transaction requires the code from within the app to authorise payment.
Can you do the same for business accounts
It's a much much smaller audience and the range of products is tighter too. I personally have moved over to Starling with my business and am very happy. :)
solid china banks with sloid divis huge institutions with pe 4 to 5 justify western banks with shaky balance sheets and divis priced with pe 18 to 40, does not make sense
Not really sure I understand what this comment relates to in terms of the video but I guess I agree with the last bit! 🤣
Triodos
Yeah - I keep meaning to do a video about them but other stuff keeps getting in the way!
@@SashaYanshin You should! I've had an account with them since January 2019 and there are still literally no reviews of them I can find on RUclips.
Starling is better than monzo
Starling is better
By time you get to point I fall a sleep
Too bad for me although I can tell you that if I didn't talk about some of the earlier points, I'd get a load of comments telling me I forgot to mention things but hey - just doing my best on here :)
@@SashaYanshin trust me there were brilliant useful points from the start. Ignore these stupid comments - the majority of people on here find your channel really helpful , it’s so clearly explained - keep doing what you’re doing please :)
@@Carrie_Magical Thank you so much! Really really appreciate it! :))