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Old 14.07.2019, 23:57
ormesome ormesome is offline
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Re: Bank account with quick account balance update?

Both are fully fledged banks, protected by the FSCS or German Financial regulations. Regarding them being a scam or not, plenty of reviews on line you can spend a while trawling through. Banks like this are the future, or they will be bought out by the bigger established banks for their own tech. Monzo is huge in the UK, voted best bank in 2018. The advanatges of banks like this become apparent when trying to use the card abroad and not in the "native" currency. Both charge no monthly fee "ever", no exchange fee (set middle market ie: XE.com) and also there is no withdrawl fee or mark ups. UBS charge me 1.7% and a terrible exchange rate via their credit card, most UK banks are the same. N26 also has Transferwise built in so trnasfers to the UK or CHF are super cheap and easy. There are advantages to be had, but you need to put your faith in to the system!!

It really depends if you like this kind of stuff or not! I do and i like to find the best card or system that can be used all over the world,simply and for the minimum fee, but i can understand if you just want to use your 1 bank and accept their charges. For me, 10mins a month tranfering money from UBS via Transferwise to N26 or Monzo makes sense to me.
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