Small name, online banks
- Thread starter BenBhoy
- Start date
HonestJohn
Well-Known Member
Revolut, not revolt 
and yes, they’re regulated by FCA 
It’s a great system Revolut, I personally recommend it
and yes, they’re regulated by FCA It’s a great system Revolut, I personally recommend it
Essexsussex
Well-Known Member
Check that they are protected by the Financial services compensation scheme (FSCS) as a minimum. To operate as a bank in the uk I think they will have to be but you will be able to check directly with FSCS if a bank is covered.
I’ve read that they protect up to 120k of deposits now per banking license (also check that with FSCS as I’m not a financial advisor). Personal not business accounts protected I think.
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I suspect it an age thing - I’ve been with Barclays for the over 50 years 
shakey jake
Well-Known Member
Starling are a head a shoulders above barclays, easy to set up accounts and use. Wouldnt bother with high street again
I use Starling for two (free) business accounts, one as a sole trader and the other is a Ltd. company.
It's pretty neat and generally good. I would recommend it and it works well with Zettle and also with Xero.
With the sole trader account I had slight difficulty a couple of years ago getting support when something I thought was a one off purchase turned out to be a sneaky subscription and Starling weren't interested beyond stopping future DDs but in the end the vendor refunded it when I complained directly.
It's pretty neat and generally good. I would recommend it and it works well with Zettle and also with Xero.
With the sole trader account I had slight difficulty a couple of years ago getting support when something I thought was a one off purchase turned out to be a sneaky subscription and Starling weren't interested beyond stopping future DDs but in the end the vendor refunded it when I complained directly.
That must be fairly recent then as the certainly weren't when I was looking for an online bank a year or two ago.Revolut, not revolt
It’s a great system Revolut, I personally recommend it
That's only going to work if I change cards after every transaction - if I'd known I wouldn't have been caught!
Every bank is an online bank these days. Most small and medium sized towns hardly have a bank branch in them at all. Banking hubs are the latest thing. Or go to the post office, you can do most things there that you used to do in a bank, such as pay bills and pay money into your account. I suspect that the use of actual physical money will only continue to diminish too. Is it a bad thing? There's good and bad things I suppose.
I think the last time I needed a bank was when I sold a shotgun and got cash, so took it to the post office and put it in my First Direct account. Incidentally, I also can't recommend First Direct strongly enough. But one thing internet banking has done is opened up banking from the old high street banks to much more competition, which can't be a bad thing. So long as they are all properly regulated, which they probably have to be and to be fair, I don't know of any catastrophes with any of them. Although if you do get scammed, I believe some are better than others at refunding your money when they have to without hassle.
I think the last time I needed a bank was when I sold a shotgun and got cash, so took it to the post office and put it in my First Direct account. Incidentally, I also can't recommend First Direct strongly enough. But one thing internet banking has done is opened up banking from the old high street banks to much more competition, which can't be a bad thing. So long as they are all properly regulated, which they probably have to be and to be fair, I don't know of any catastrophes with any of them. Although if you do get scammed, I believe some are better than others at refunding your money when they have to without hassle.
You can't post a cheque (in a cheque envelope) via the post office anymore as the banks put a stop to it...
I tried at my local PO and a larger PO the answer on their screen was "please use you personal bank" meaning drive into town pay/park and deposit your Greggory Peck
unfortunately the traditional "high st" banks still charge fees for transactions made while abroad, while the new wave pf online only banks do not. This can make a big difference to holiday spending. Most Hight st banks charge both a set transaction fee and then a currency exchange fee. And even then exchange rates are not always favorable. With Starling there are not fees and the exchange rate is at the "instant" market rate/
This can make a huge difference. On a recent trip to Dubai I was offered 4.3 Dirham to the £ with my high st bank but never got less that 4.8 with Starling.
I have family in Dubai and its worrying times. Not just the immediate threats (which I an assured is overplayed), but for the short to medium term prospect for the tourist industry on which the county relies
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