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Should you move to a digital-only bank? And if so which one is best?

The world of fintech has brought about a revolution in banking, with digital challenger banks such as Monzo and Starling leading the way with their app-based current accounts, along with Revolut, Monese and the now defunct N26.

These mobile phone only banks are changing our relationships with money, by making it easier for us to track our cash, budget our spending, separate our savings and pay our bills.

Plus they are fantastic for spending on your holiday as there are no fees on transactions and most cash withdrawals.

In this video I…

  • share how to open an account with Monzo, Starling, Revolut and Monese 
  • review the key features
  • break down any charges
  • explain how to withdraw and pay in money
  • look at whether they’re safe to use and if your money is protected 
  • compare them to let you know which bank I think is best for you.

For subtitles, press play and then hit the CC button at the bottom of the video (you might need to tap the video or hover your mouse over it) and you’ll be able to get auto-generated subtitles.

For a transcript, you’ll need to click through to YouTube. Then hit the three dots under the video to access all the subtitles at once. Remember they have been auto-generated by YouTube so there might be the odd word where it thinks I’ve said something else.

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Don’t forget to subscribe to my YouTube channel for more videos.

Further links and reading

Monzo 

Starling Bank 

Revolut

Monese 

The best bank bonuses, interest and incentives

How to stick to a budget 

How to automate your savings

The real cost of an overdraft

The banks that’ll let you pay in a cheque online

Switching your energy bills

How to switch bank


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