💔 Winner Takes Most - Monzo, Revolut, Starling, Tide, Atom, Tandem, N26 🏦

Revolut added 100k active crypto users in the first 5 days of January. 200k in December…

I await the negative spin from Monzo shareholders… :rofl:


Frankly I find this attitude a real turn-off and all it does is show you in a poor light, but you do you.


Usually when you see something like this it’s already too late.lol

Though with the exchange fees within Revolut for Crypto, this jump in numbers, if related to crypto will likely see a jump in revenue. I’m pro Monzo! But can’t fault Revolut for tapping into what the market wants!

Throwing money away

If Revolut is successful in their application for a UK banking license then they are by far in the lead for Personal banking. They are very agile and absorb feedback quickly which will help them when it’s time to implement lending products on their platform.


They want to buy a lending business, isn’t everyone, Tandem acquired a green lender, and Metro Bank acquired RateSetter… there’s a lot out there so plenty to go around. Anyway near the end of the post it says

On customers

  • Forget Freetrade, Starling customers invest old school: “One of our most popular merchants is Hargreaves Lansdown. Starling customers tend to be investors.”

I think the ‘Forget Freetrade’ is Sifted but I wonder why people who sought out a neo Bank then are sticking with a legacy broker?

On crypto

  • Starling customers don’t care about crypto: “We have lots of people coming to us to ask us if we would process crypto or whatever… But the people who come forward and ask for it, in the context of having two million customers, is hardly anything. People do ask for it, but we don’t think it’s going to be what our customers really need.”
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Whilst starling is a ‘neo bank’ by definition (operates without branches) - it offers nothing above a normal bank from my experience as a user. The only reason I set up an account with them is because NatWest paid me £2000 to(!) It’s more akin to something like First Direct.

If someone wants cutting edge features they are going to get a Revolut account or to a lesser extent Monzo. It doesn’t surprise me Starling users are still using legacy broker platforms.


They probably have no issues with HL, could be lots of other reasons as well. A lot of people hold funds on HL that Freetrade don’t support, SIPPs, and other accounts. The lack of in species transfers may also make it expensive to transfer. The same can’t be said for bank accounts.

Also note she said ‘one of the most popular’, it was sifted that said ‘forget freetrade’


@BOOM fair play on getting 2k to leave! In terms of additional features Starling does offer ( or did offer ) a EU account. They also have a rudimentary marketplace. I can’t think of anything else they offer in addition to what is out there in established banks but then a lot has been copied in recent years.

@Eden all valid comments. I think where they said ‘most popular’ it might be by a wide margin but who knows. Come to think about it, another thing with HL, their “HL Workplace” service for employers could be helping them pickup people who know they need to do something in terms of investing/saving but don’t know what and can’t be bothered spending too much time on it so just default to it.

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Considering HL have significantly more clients than Freetrade it wouldn’t surprise me.

I don’t believe anything has suggested that just because you use a new bank means you’re far more likely to use startups for all your services.

At the end of a day it’s a bank. A bank holds and moves money. Lending is the next big thing IMO.

The idea that banks need to offer some flashing thing no one else does is just not really going to happen.

You’d think it would be money management but there isn’t a single thing out there that can do it. All the technology in the world and they can’t show my investments, or mortgage or savings. (Not just Starling, everyone). Ynab comes close but it’s still all manual, which at the end of the day is probably what it has to be, a separate manual process.

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Surprised this hasn’t mentioned - I saw both Nikolay and Martin Gilbert on Bloomberg in the last 2 weeks discussing this…

Once they start processing customers through the KYC process in order to become a bank the active users/customers will fall through the floor. People with ethics and morals don’t use Revolut,the way they treat their staff is abhorrent.

Either 1 in 3 adults in Ireland don’t have ethics or morals or you are wrong.

The way Amazon treat their staff apparently offends some people too - everyone still uses them though.

I’m not sure why getting a banking license would result in active user numbers falling through the floor. Could you explain that one a little more? It seems to be universally accepted that people are happier using neo banks when they are FSCS protected.


I know how upset you get when anyone dares criticise Revolut and I know you are on first name terms with Nik :crazy_face::crazy_face::crazy_face: My opinion about Revolut is that they treat their staff abysmally also if you look at their Twitter account it is customer complaint after customer complaint. I really wouldn’t trust them with my piggy bank :crazy_face::crazy_face::crazy_face: