Best mobile banking app: Starling & Monzo vs the high street
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- Опубликовано: 14 июл 2024
- Does your banking app do everything you need it to do? With most of our banking in 2021 happening on our mobile phones, it's time to ditch those that are second rate.
To find out which is the best mobile banking app for 2021, I've looked at the key features you'll want from your mobile banking app - and which banks offer them.
We know digital banks such as Starling & Monzo are doing great things, but can any of the high street brands compete? And which ones are the worst?
READ: Here's a blogpost with the full spreadsheet becleverwithyourcash.com/the-...
Banking apps compared:
- Barclays
- First Direct
- Halifax
- HSBC
- Lloyds
- Monzo
- Nationwide
- Natwest
- Revolut
- Santander
- Starling
- TSB
- Virgin Money
Features compared:
03:40 Savings, such as pots and auto top-ups
07:55 Banking, such as setting up new payees, sharing account details and paying in cheques
11:51 Budgeting, such as spending analysis, adding notes & photos and instant notifications
21:25 Management, such as viewing PIN, freezing cards and biometric log-in
W A T C H N E X T
The best money saving & making apps
• The best money saving ...
The best bank accounts
• Is Monzo in trouble?
#Bankaccounts #BankingApps #DigitalBanks
MORE
S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
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T W I T T E R - / andyclevercash
I N S T A G R A M - / andyclevercash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
B L O G - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
Here's the blog post with the full spreadsheet! becleverwithyourcash.com/the-best-bank-mobile-apps/
🥺Take it🏅(Employee of the month no of the company, they couldn't do it without you)
Did you know that I am going to need this video and upload it just an hour before I search for it? Lol
Honestly it's an all round perfect video about banking apps
Ha! Good timing!
Thanks so much Andy, I was considering a Nationwide current account, but not with such a basic app, as I do the vast majority of banking via app. Barclays app is very good but they won't support google wallet and the like, which is restrictive if you don't want to carry cards around all the time. I'm amazed this video hasn't got more thumbs ups!
Chase is the best one out there, IMO.
They're relatively new in the U.K. while very well known in the U.S.
The app will feel a bit "incomplete" and that's because of what's above, but they're working on improving and adding features. Hopefully they'll add browser log in rather than app only.
What a great presentation ,found you while doing a search on Chase banking ,subscibed and rang the Bell 😉
Just wanted to thank you for this video - immensely helpful! I've had a current account mortgage for nearly 20 years but with no outstanding but a sizeable borrowing pot (in case of need). This isn't portable and as I'm moving house, I'm now panicking on which one to change to. Thanks again - Starling seems to be the one to cater for all my needs
Have to say Starling Banking app is brilliant. I persevered with nationwide for years and got so frustrated with the card reader. Starling was a game changer for me - I now feel so much more in control of my money.
Thank you for this! So helpful
The best financial advice you will get for free! Well done!
Thanks John!
Hi
Great video
I am with Nationwide and Santander and monzo Hope nationwide and Santander catch up soon With their apps
Really helpful, thanks very much!
This took a lot of work to make , I appreciate it 🙏🏻 thank you
Thanks Thomas! I was worried it was still to long at 30 mins but it’s a lot to cover
You really are good at your job . 👏 🏆
Thanks Andy great video
Thank you!
Finally! Great job 👍🏼
Ha, glad you like it!
Best video on RUclips
Coming from both Lloyds and HSBC I would say Barclays is the best online banking app.
agreed
Great video Andy - to fill in your Santander blanks - (16:35) I've got a Santander current account and it *does not* give me instant notifications about debit card spending. Also doesn't show upcoming regular payments(18:18). Another reason to switch away on top of their hefty foreign exchange fees! You can go back through the whole account history though (19:38) . Also you can't update personal details or download transactions in the app, or add receipts/notes in the app. Peace
This is great. Thanks Robin!
No notifications for incoming amount either.
I love first direct photo cheque pay in and customer service brilliant
My annoyance with banking apps is that some of them require to use their app to access it otherwise you can't. Surely they could make it possible to log in via browser, but they just won't.
Love the vid… any chance we can get that video comparing third party budgeting apps like Yolt, Money Dashboard? I’m the same as you.. mainly use credit card.. so would love to see all accounts in one place
Will do! At some point! I’d say one issue I have with them right now is Amex compatibility… hopefully that’ll be fixed by the time I record it
If I've understood what you've meant by instant notification, HSBC does do this and has done so for a while. I get a notification on my phone whenever money goes in and out of my account.
Great, thanks for this.
You can also get SMS text alerts, but you have to ask. Why they don't just make it easy to enable, who knows.
Sound video here Andy and a wicked spreadsheet - is this available as a download for reference?
I bank with a few of them, majoring with the HSBC app which I find fine. Starling I use for my long term saving pots (car tax, yearly insurance etc). Monzo I use solely for my matched betting activity.
As I say, excellent subject matter and one I will definitely use as a reference for other options 10/10 👍👍
I will be doing an article on the blog with the table, hopefully this week
@@BeCleverWithYourCash you should put that spreadsheet on your website
@@Martin-uf4ut I will! Hopefully soon...
very interesting, thank you, but I must admit I bank online and have not bothered to investigate banking on the phone as apposed to banking by phone.
Thanks Charles, there are some features which are app only (like paying in cheques) which are worth investigating
How do you download statements in the natwest app? There's no statements option in my current account and under the documents section it only let's me view my yearly certificates of interest
Hi, great video thanks. Im currently having a nightmare with Natwest. I have different savings accounts which I was able to name, for example Car Servicing, Holiday Money and others which I paid into monthly to save up. But now unfortunately they have removed this feature of naming the accounts so Im stuck with the current names and cannot change them. I have complained but its falling on deaf ears. If you go to your Natwest account and try the change the account name you will see for yourself, it says its temporally suspended, but its been like this for 2 years So basically I will have to close the accounts or maybe its time to look for another bank?
As always brilliant content Andy. Just on Nationwide, members can create a new payee using their app. I just created 2 new ones yesterday using the app. Unless you're referring to something different?
Hi Elle. I'm guessing you had to get the card reader for this though?
@@BeCleverWithYourCash Yes Andy. For security puposes, I had to use the Card reader the 1st time I create a new payee. It's an extra step that may put some people off but I don't mind as it takes just a few seconds :)
You can, but you need a card reader, which is very outdated
As of 2024 as a 123 range Current Account user I have found Santander to have included pretty much all of the missing features displayed in this video as the following represent:
- More Budgeting Features
- Paying in Cheque
- Auto Savings
- Set Budgets
Etc.
Lloyds and Halifax both have auto savings ("Save the change")
Thanks Shaun
Thank You Andy Clever Cash - I guess that is not your surname but if it was, what a surname :)
HSBC is up there with the WORST user experience I’ve ever had to deal with, not just compared to other banks but compared to literally anything else
Thanks
how can I get a copy of this spreadsheet? It's really good and informative
You can make a standing order with hsbc btw
Santander app id clear and easy to do se. Also has a high payment limit and you can freeze your card or disable contactless
Great, thanks Gareth
I registered with Starling yesterday, it's too early for me to comment on them. I was a Yorkshire customer since my teens until the switchover to Virgin Money. I was thinking about closing with them and going to either Lloyds or Halifax. However I may stay with Virgin after I watched your take on them re their interest rate in the savings account. I'm still thinking about opening a 2nd high st account with either Lloyds or Halifax.
If you are happy to jump through the hoops to get the freebies (which isn’t much effort) they’re worth getting
Did you go to Starling, if so how is it. I'm Yorkshire/virgin and not sure on it...
So what is a really good hightstreet bank I currently have a starling bank and they won’t give me a overdraft eve. Though I earn a good weekly wage but self employed so looking for brick and mortar bank
banks should add more security and increase the limit for faster payments to £250,000 which is the limit !!
Hi andy, i just switched my account to HSBC to get switch incentive, just checked and it seems like you can indeed set up a nee standing order on the app?
Thanks Delta!
Just adding it looks like HSBC has solved a number of those No’s. They have budgeting, SOs, etc now.
I know this video is a bit old now. But how about chase?
And I think first direct are doing some of those things. At least I hope they are, I've just switched to them from nationwide
I have a First Direct current account and can use thumb print log in to the app on an iPhone.
Thanks Trevor
I’m at Barclays, which is good
I'm with Barclays and have the app, but for some reason I don't get any notifications.
I did a balance transfer to make use of 0% from sainsburys - can honestly say worst experience. Application was reems of paperwork - yes in today's world & the app was dreadful. Cancelled it as soon as possible
Which one's let you take 5k cash out in one day? That'll be good to add to the comparison.
I am just about to sign up for a Chase mobile banking app. It is my intention to open a current and a saver account into which I shall be depositing quite a bit of money. I suddenly thought though, I have a Huawei smartphone. Is it safe to use mobile banking given that we are warned about compromises with using a Huawei phone regarding security and the evil CCP?
HSBC you can set up a SO. Couldn't see a way to share/copy account details, they only display on the screen.
I definitely prefer Monzo as my primary account.
Thanks Nick!
They also recently rolled transaction notifications.
Does Monzo show a running balance on the current account? Can't tell by the pictures on the app store.
First Direct let you set up a standing order in the app but frustratingly do not allow you to change the date.
Yeah they need to give more options for things like this
Can you review halifax?
Starling is an excellent one, which one do you prefer?
It’s close between Starling and Monzo. I think Monzo has the edge, but I prefer Starling as a bank
You can set up a new payee on nationwide app but you need a card reader x
I really hate card readers!
Exactly, you need a card reader, and card readers are annoying and 10 years out of date
Pretty sure you can add/edit SOs in the First Direct app
Thanks Josh
Yes, you absolutely can.
Coop bank closed all branches anywhere near me…
I don't want ANYTHING from an app EXCEPT notification of when my card is used. How do you do it with the Lloyds app?
It should just do it automatically, but if not ask someone to help, there’s a notification button somewhere on the app
Nationwide has save the changes
Yeah, It’s a nice feature but I much prefer the auto save feature from Plum or Chip, or the IFTT connections for Monzo to really help save passively
Surely the minimum to go back to transactions is 1 year for tax purposes. That should be the minimum
It’s not true, HSBC bank app allows you to set up a standing order and cancel it as well.
Thanks!
How useful are most of these newer features if you do the vast majority of your spending on credit cards?
Really good question Josh. I’m the same so rarely use my debit card and bank app - but being able to easily set up new payees and edit standing orders in the app is vital.
Spending tracking features for your debit card? Not really. All the others? Yes
However lots of these spending features are available for credit cards as well, so they're still useful
Do you have any news on chase bank yet
Nothing yet! It’s still a vague “2021”
Launch
Don't forget coop bank ,
The app has absolutely ancient interface,
It has most basic features.
And there card is a link card 🤣
Who remembers link.
Well almost all UK debit and cash cards are connected to the link network
HSBC does not allow generating statements instantly. This is absolutely annoying and made me go for Lloyds instead. It's much better in my opinion.
First direct now allow you to view your card pin and card number
Ah great! Thanks
@@BeCleverWithYourCash also SO have always been available and Paym in the app
No Metro Bank?
Monzo have great features it's just the security of both cyber and financial that worried me enough to switch out to starling
On a side note, logging in to Starling Bank via a browser is unnecessarily complicated. Type in your phone number and whatever, and then scan the QR code. That's their way of telling me to use the app so I won't have to tho thru this every time.
Santander does not give notifications for debit card purchases at the moment but I think it will soon when the mastercard roll out has finished
Yes, I'm sure this is a feature that more and more banks will want to offer
Looks like Lloyds has heaps of features, but no special mention?
Notifications are so slow. Sometimes incoming amount notifications are received next day. That’s why I switched to another bank. Waited one year for them to improve notifications.
@Aaqil Mahmood my notifications are instant literally within 5 seconds of using my card I get them.
@@tomosjohn230 yeah, but I prefer Monzo to lloyds, faster notifications IMO and the features help alot
Nationwide do allow you to set new payee in the app you need to have their card reader
Yeah, I know it's a first world problem but I hate the card reader!
which is 10 years out of date, card readers are annoying
Co-operative bank who ;)
No thumb print available for First Direct.
Thanks Paul
To me, it looks like it’s Starling Vs Monzo.. which one is the MVP?
Totally! I think it's down to personal taste. Monzo has some great features, but I've gone with Starling because it has the edge ethically. But I think I'd be happy with either.
Here's my Monzo review ruclips.net/video/TeTh9mvqNBM/видео.html&t
And this is one for Starling ruclips.net/video/S5MOWB-jgOM/видео.html&t
@Shakir Khalifa more on ethical banking here ruclips.net/video/OgNGSkhpeys/видео.html
First Direct is horrible too. Basic and simple (they do Face ID now) to say first direct are part of HSBC they don’t adopt their availability balance after bills etc. I’m trying to switch from first direct as their app is so basic and boring
Yeah. It's much better than it was, but still some way behind the best banking apps
"Don't go for First Direct"
Is TSB spend and save account 1 or 2 cards
Do you mean debit cards? It's a single debit card, unless you have a joint account when you can both get a debit card each
@@BeCleverWithYourCash
Thank you , it is indeed just a single debit card.
The TSB Bank title makes it sound like
2 cards . 1 debit card and 1 saving card.
Spend and save account .
Spend debit card and save saving card
Spend and save account.
But its only 1 card
these were all mobile? no way
Why not Metro Bank?
I couldn't cover every bank and Metro is quite small. The app is ok. Quite basic
FD do not offer Instant Notifications but Parent Company is Rolling it out soon/doing it now, Wierd!!!
Hopefully it'll come sooner rather than later
The nationwide app needs more features
Yeah, they must be aware of this so hopefully we’ll see some changes soon
Absolutely, I really like them as a banking provider, but I just can't stand how outdated the online and mobile banking are
Get the answer 27:00
What about RBS that’s the Bank I’m using
RBS and NatWest are the same
I’ve switched from RBS to BOS
@@kamilenilari9453 bank of Scotland is the same as Lloyds Bank
It would seem that there are a lot of Things that First Direct cannot do, do they know what the year is?
They were such pioneers with non-branch banking but seem to have missed the boat with app banking
Monzo for life
June 2023 and Santander still does not provide instant notifications. Natwest give instant notifications for outgoing transactions only, not incoming payments.
Which bank apps do you rate? Which ones frustrate you?
Starling bank app is great, also, I like the bank of Scotland/Lloyds app
Starling
Looked at TSB and Starling but opted for Virgin and Lloyds based on interest rates on current a/c and saving pots - Apps are not better than Starling or Monza but I prefer to chase the interest where it exists.
Natwest app is great.
nationwide's poor features and speed (or rather lack thereof) frustrate me to no end
I have websavers with Halifax. In fact before starling they were the account I relied on to have purpose accounts
Santander have one of the worst apps. I tried it years ago got frustrated and eventually removed it. Tried it again a year later and removed it in the same hour.
Hii
Why your head is constantly over the chart when I want to see stuff is beyond me!!!
You could've talked in the background?
Ha! Yes, I took the decision that a 30 minute video of a spread sheet was going to put a lot of people off - and I am going to write it up and share the data in an article on the blog. It's just a very time consuming video/article so I wasn't able to fit in doing both this week.
Is this spreadsheet downloadable
No, but head to the link in the description for all the details
this guy is scammer
How?