Monzo

[orlandoamber]

I didn’t realise you’d get a better rate when I considered this... great perk! Any ideas on whether monzo or sterling tend to have the better rate or if they’re much of a muchness?

[Sew109]

Originally Posted by orlandoamber

I didn’t realise you’d get a better rate when I considered this... great perk! Any ideas on whether monzo or sterling tend to have the better rate or if they’re much of a muchness?

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I imagine that they are the same I assume that they both use the MasterCard wholesale rate and you don’t get much better.

I suspect that there is very little between them we had Monzo so stuck with them they also have large offices in central London which whilst I will never use the offices says to me completely legit, I am not saying Starling is not just I think Monzo is.

[Waltdisnae]

Love Monzo. Used it on recent trip and only took about $40 cash and brought $5 home. Instant notification of spending, great exchange rate, no fees, really helpful for budgeting. Think Starling might be better if you plan on withdrawing more than $200 cash per account holder.

You can get a free £5 if you get refered by someone with an account.

[Hudson]

Applied and received my Monzo card just a couple of days before leaving for New York (just at Heathrow now returning).
I was getting $121.00 up until yesterday in Boston.
I used the card at Budget rental desk in Manhattan for our vehicle no problem at all, meanwhile, half the local New Yorkers were getting knocked back with their"Mickey Mouse"😲 gold cards.
I just kept topping my card up as and when I needed and just drew out some cash from an ATM the once...great stuff.

[deafjeff]

Originally Posted by Sew109

I imagine that they are the same I assume that they both use the MasterCard wholesale rate and you don’t get much better.

I suspect that there is very little between them we had Monzo so stuck with them they also have large offices in central London which whilst I will never use the offices says to me completely legit, I am not saying Starling is not just I think Monzo is.

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Both are the same.

Monzo put me off with their £200 withdrawal per calendar month. I rarely take cash out but never know when I need it.

There's not much difference between both, the ability to withdraw cash without worrying about limited is a huge bonus for us.

[Tweety1]

Originally Posted by orlandoamber

When in Europe I’ve always chosen to pay in Euros as shop staff have always told me that the rate given will be better through the bank rather than what showed in GBP on the chip and pin. Presumably in USD it would be the same theory.

Good that you don’t have to choose with monzo though, but sounds like you do with starling?

I don’t plan to be taking money out of cash points with monzo anyway, just paying for meals really, but the fact there’s never any charges for doing so with starling sounds good.

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Ive never had an issue, it instantly shows what you have spent. I have my card ‘frozen’ all the time then just unfreeze when I need it. The only issue I have found(if it is an issue) is when on 3G it doesn’t always unfreeze whereas WiFi it does. V strange but just thought I would point it out. However it’s a fab account

[orlandoamber]

Thanks all. Presumably an online bank transfer from my usual high street bank account into monzo would happen ASAP in the US the same as at home if I choose the ‘immediately’ option for the transfer?

I don’t plan to be withdrawing cash from a cash point much as we will have some with us anyway so I think this won’t be an issue.

If you can get a joint account with them we may go for that option so we get a card each.

[deafjeff]

Don’t know about Monzo but starling does joint account

[Sew109]

Originally Posted by orlandoamber

Thanks all. Presumably an online bank transfer from my usual high street bank account into monzo would happen ASAP in the US the same as at home if I choose the ‘immediately’ option for the transfer?

I don’t plan to be withdrawing cash from a cash point much as we will have some with us anyway so I think this won’t be an issue.

If you can get a joint account with them we may go for that option so we get a card each.

See more...

Transfer is instant home or away

[tracey1302]

We used my Monzo card the entire time we were in Florida. No issues, great exchange rate, instant confirmation of spends on the app. It was fantastic. We also found there was never a reason to carry cash, so we never used it to withdraw cash. I'm returning to Starling in March as I have a slight preference for the app interface but both are great.