141–150 of 176 posts
Earlier quoted context omitted.
> It lost about £15million in 2017 If a company was losing money for the first 11 months out of 12, that's an expected result.
> If a company was losing money for the first 11 months out of 12, that's an expected result. I dunno what you think you are trying to achieve. Revolut is not profitable
Earlier quoted context omitted.
The point I was making is that none of those things are very interesting to me – I use a credit card when travelling, don't travel enough for banking to be a constraint, and don't need virtual cards. Also, note that there are already zero ATM fees in the UK, Monzo does £200 of fee-free foreign withdrawals/month in line with the Revolut free account, and cashback is only 1% outside of Europe, if you are paying for the…
> Also, note that there are already zero ATM fees in the UK That makes a big difference, and it's not the case in continental Europe. Monzo then seems to be optimized for a single market and a single type of user (who doesn't travel much). I totally understand your case now. > and don't need virtual cards Are you using the same physical debit / credit card for all online payments? I don't see how disposable virtual c…
Ironically, the only European country where I ever even see some ATMs with fees, at all, is the UK.
Monzo has no surcharge over the network fee for foreign currency transactions, so it’s quite good. However, it’s a debit card, and credit cards still win for reliability when renting cars or buying airplane tickets.
When it comes to virtual cards: it’s a matter of taste. Personally I don’t care a single iota if my card gets defrauded; issue a chargeback, get a new one, done. Not worth giving up for the convenience of auto fill of C.C. in the browser.
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Bingo. The fact that I can see all my transactions, automatically categorised, in an app that is much prettier, full-featured and simple than the crap that Halifax put out, is brilliant. Combine that with a simple setup process, never having to interact with humans or call centres, and add tha bility to automatically save, interact with IFTTT etc and you have a very compelling package and I hope they continue to do w…
> never having to interact with humans or call centres Many people would argue this is a tech company's biggest flaw.
I can understand "never being able to" being a flaw. But if I can get my stuff done without talking to someone then that is brilliant. I don't have to go out of my way to go somewhere, I don't have to bother with a bad phone reception, I don't have to wait in a line for it to be my turn. I just do the things I need to do when it is convenient for me.
If I want to open a savings "pot" (Monzo version of a savings account). Then I can do it on the bus on the way to work. I don't have to take time off to go to a branch, or prove I am me on a phone call etc. I just use the app, and it's all done.
Earlier quoted context omitted.
> Also, note that there are already zero ATM fees in the UK That makes a big difference, and it's not the case in continental Europe. Monzo then seems to be optimized for a single market and a single type of user (who doesn't travel much). I totally understand your case now. > and don't need virtual cards Are you using the same physical debit / credit card for all online payments? I don't see how disposable virtual c…
I have visited quite a few countries in Europe, but never found one where ATM fees are de rigueur. Actually in all my travels ever in the entire world, it was only the USA where I really couldn’t find a fee-free ATM no matter how hard I looked. Ironically, the only European country where I ever even see some ATMs with fees, at all, is the UK. Monzo has no surcharge over the network fee for foreign currency transactio…
Earlier quoted context omitted.
The point I was making is that none of those things are very interesting to me – I use a credit card when travelling, don't travel enough for banking to be a constraint, and don't need virtual cards. Also, note that there are already zero ATM fees in the UK, Monzo does £200 of fee-free foreign withdrawals/month in line with the Revolut free account, and cashback is only 1% outside of Europe, if you are paying for the…
Don’t you get hit by international fees when using your credit card abroad? As a regular business traveler living in europe, Revolut has saved me a fortune (I even turn a small profit with the Metal cashback)
Earlier quoted context omitted.
The point I was making is that none of those things are very interesting to me – I use a credit card when travelling, don't travel enough for banking to be a constraint, and don't need virtual cards. Also, note that there are already zero ATM fees in the UK, Monzo does £200 of fee-free foreign withdrawals/month in line with the Revolut free account, and cashback is only 1% outside of Europe, if you are paying for the…
> Also, note that there are already zero ATM fees in the UK That makes a big difference, and it's not the case in continental Europe. Monzo then seems to be optimized for a single market and a single type of user (who doesn't travel much). I totally understand your case now. > and don't need virtual cards Are you using the same physical debit / credit card for all online payments? I don't see how disposable virtual c…
I don't have any real use-case for virtual cards, since both card provider and service provider still get to track everything. It's possible that it might be valuable to limit the amount that can be charged by a provider, or to allow a virtual card to be independently disabled in case of fraud, but I'm not particularly concerned about those given the ease of reclaiming funds generally.
Earlier quoted context omitted.
Bingo. The fact that I can see all my transactions, automatically categorised, in an app that is much prettier, full-featured and simple than the crap that Halifax put out, is brilliant. Combine that with a simple setup process, never having to interact with humans or call centres, and add tha bility to automatically save, interact with IFTTT etc and you have a very compelling package and I hope they continue to do w…
> never having to interact with humans or call centres Many people would argue this is a tech company's biggest flaw.
The UK bank space could do with some fresh players. Currently I'm looking for a new bank for my business, because: 1) I need to have foreign currency accounts. My bank has them, but I'm unable to see the accounts when I log in. They've known about this for 4 months now, and I keep getting sent in circles by the Indian call centre. They've sent me to branch twice, with no coordination, the people in the branch can't h…
Earlier quoted context omitted.
Bingo. The fact that I can see all my transactions, automatically categorised, in an app that is much prettier, full-featured and simple than the crap that Halifax put out, is brilliant. Combine that with a simple setup process, never having to interact with humans or call centres, and add tha bility to automatically save, interact with IFTTT etc and you have a very compelling package and I hope they continue to do w…
> never having to interact with humans or call centres Many people would argue this is a tech company's biggest flaw.
I have to say the best thing about Monzo is their customer service, it's really fantastic compared to other banks. I have other problems with them though - I won't use them with their 50p per day overdraft charge, even if you only go slightly into it; this persecutes poor people - it's much fairer to charge a flat percentage.
The UK bank space could do with some fresh players. Currently I'm looking for a new bank for my business, because: 1) I need to have foreign currency accounts. My bank has them, but I'm unable to see the accounts when I log in. They've known about this for 4 months now, and I keep getting sent in circles by the Indian call centre. They've sent me to branch twice, with no coordination, the people in the branch can't h…
Incidentally what doesn't Monese ( https://monese.com/business ) have that you need? Is it the end-of-year statement?