Honestly? My Monzo and Starling accounts were first opened to see what other banks were doing in terms of banking app UX and account opening as my design/UX experience is within a building society where it’s savings accounts only and so not features heavy and only desktop and responsive. Essentially I was doing research.
Once opened, they were the first banks to do the whole ‘top up’ as well so I treat them almost like a budget now, I put money on each on payday and this will last me the month. My bus fare is £2.10 so whenever I don’t get a lift 90p goes into my coin jar or space. Likewise a coffee across the road from work is £2.30 so there’s another 70p ‘saved’
As much as I like both, and as slow as HSBC has been in terms of playing catch up with some features, I don’t think I’ll go the “full Monzo” or “full Starling” not yet at least
Starling was the first bank account I had because when I moved here paperwork was…limited (pleasures of being an EU spouse). However, starling aced the account open and had/had customer service response times better than any I’ve seen elsewhere. However it’s brick and mortar for the salary. I wanted to go full starling but I need things like HSBC’s flexiloan (only for existing users-instant cash reusable loan w/ a lower interest rate than the credit card)
HSBC handles the the bills but Santander might take that. I’d keep them though because I want to move back to France and they’d help facilitate that.
Chip for savings
Nutmeg for lisa
They are other Finch apps I use like Circle for money transfer and of course Curve to manage my 15 or so pieces of plastic.
100% Monzo for salary/ rent/ bills/ ISA/ savings etc
not got one atm, but heard great things about AMEX from a few friends who are recent first-time users (@edoardomoreni would you recommend?)
Pensionbee for pension (just used it to combine two old pensions and setup a new monthly DD)
AngelList/ Crowdcube/ Seedrs for early-stage investing, investor in Wealthify and use that occasionally, but always on the look out for alternatives.
Shared an office with Curve so have one of their cards, but never used it. Tried Chip, didn’t get on.
The most effective money saving technique for me is to do all my saving and/or investing immediately after getting paid and have this automated by standing order. Some refer to this as paying yourself first. I find I’ve been able to save/invest much more this way then when I used to wait and see how much I had left after bills and everyday spending.
Since switching from cash to mainly contactless payments for everyday spending I’ve found that using a bank which provides instant balance updates and rich transaction information (Monzo in my case) has helped me be more mindful of my spending.
I have accounts at several banks to take advantage of things like cashback on bill payments and high interest rates on current accounts and regular savers. The accounts that offer these features tend to require a minimum monthly deposit and I do that by automatically shuffling money between accounts once per month via standing order.
Whenever I buy anything online I first check if I can get cashback on the purchase by going via Topcashback.
Because I use multiple banks and accounts (point 3), Emma is useful for me to see all transactions and accounts in one place.
I use Nationwide (for Flex Plus benefits) as my salary and bills and then transfer the remainder over to my Starling account for day to day spending know I won’t accidentally go into my bill money. I also use Starling Goals for putting money aside for certain monthly or yearly erm goals.
I also use Moneybox for my LISA and Moneyfarm for my S&S ISA.