Has anyone got any of the "challenger" bank accounts?

Queen Jess

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I'm just interested to see what people think. I am tempted to open one just to see what they are like (not for my main salary or anything, just to have a bit of a play... I like gadgets and new fangled things to play with).

Anyone love or hate them?
 

KateBecoming

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I've been using Revolut for a while.
I've found it useful to transfer a set amount into my account for spends which keeps my Cooperative account entirely for bills etc.
Its made my life simpler and I can keep an eye on exactly where I am.
I use a couple of the vault features too for a 'Secret Stash' which is my interpretation of an emergency fund and a Holiday Fund (obviously in the hope I can go on holiday next year). :)
Admittedly there have been times when I've had to empty a vault back into the main balance but this is pretty instant.
Hope this makes sense.
 

Jon

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I've never heard of these before? Are they like savings targets within your own bank account?
 

An-na

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Hi Queen Jess,

I didn't know what you meant by "challenger banks" but after a quick look around I understand now. I call them App Only banks and I did a little review here.

https://www.themoneyshed.co.uk/index.php?threads/separate-current-account-for-matched-betting.10167/#post-141602

I have a Monzo card now and I really like it. I keep my high street bank for everyday stuff and my Monzo card for this online money making lark. I like creating pots for each stream of money that I earn. I would certainly advise anyone to get an online app only account. It feels good to have that choice and keep the everyday stuff separate from the online stuff.
 

KateBecoming

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I've been looking at Monzo too. Apparently it was voted Which Best App Only bank. :)
 
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Queen Jess

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I've decided to give Monzo a go. I am also hoping I can use their inbuilt budgeting feature to save me valuable time (currently using a spreadsheet). I do hate admin!
 
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Stellaella

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Monzo all the way... I have a few bank accounts Incl Starling and Monzo definitely comes on top. If you are thinking of opening Monzo why not get yourself free £5 - just use the latest referral link - https://join.monzo.com/r/gkf55ht
 

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