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Free FSCS protected Euro account

BobbyD
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Free FSCS protected Euro account

#228702

Postby BobbyD » June 11th, 2019, 2:55 pm

Never used Starling.

Looks like no card, so digital payments only.

Conversion charge is 0.4%.


https://www.starlingbank.com/current-ac ... k-account/

stevensfo
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Re: Free FSCS protected Euro account

#229746

Postby stevensfo » June 15th, 2019, 5:06 pm

BobbyD wrote:Never used Starling.

Looks like no card, so digital payments only.

Conversion charge is 0.4%.


https://www.starlingbank.com/current-ac ... k-account/


I don't see why we'd need a separate card. Revolut and Transferwise do exactly the same thing, so Starling is simply trying to keep up with the rest. The app on your phone shows you how much you have in each account and each with its own IBAN/SWIFT/UK acc. number and sort code for transfers in.

It'll be interesting to see how Starling compares with the others. The competition is growing.

Steve

swill453
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Re: Free FSCS protected Euro account

#229762

Postby swill453 » June 15th, 2019, 6:15 pm

I've not yet worked out what advantage a "challenger bank" would give me. By suitable selection of current accounts and credit cards I pay no bank charges, get cashback on purchases, get free cash withdrawals abroad at the Interbank rate, can use a credit card abroad with no charges and at the Interbank rate. And I can monitor all this instantly with apps on my phone. And naturally all money is FSCS protected.

Am I missing something I could get with Starling, Monzo etc?

Scott.

stevensfo
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Re: Free FSCS protected Euro account

#229836

Postby stevensfo » June 16th, 2019, 8:51 am

swill453 wrote:I've not yet worked out what advantage a "challenger bank" would give me. By suitable selection of current accounts and credit cards I pay no bank charges, get cashback on purchases, get free cash withdrawals abroad at the Interbank rate, can use a credit card abroad with no charges and at the Interbank rate. And I can monitor all this instantly with apps on my phone. And naturally all money is FSCS protected.

Am I missing something I could get with Starling, Monzo etc?

Scott.



For someone always in the UK and abroad only for the occasional holiday, I think you're right that a traditional bank is just as good. But for those who want to be paid in other currencies and move around a lot, it may be helpful to be able to hold other currencies in their account. There are a lot of TEFL teachers around the world who use Transferwise and Revolut to receive their salary in the local currency or US dollars. They can then convert into pounds whenever they want and transfer to their main bank that has FSCS protection.

Steve


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