When it comes to the UK’s digital banks, including Monzo, Revolut, Starling, Curve, and Atom, offer 24/7 in-app support, which is leaps and bounds above the call-center support provided by most traditional banks. But what other features do UK digital banks offer that traditional banks don’t, and what should you look for when choosing the right digital bank for you?
Real-time spending notifications have become a standard for challenger banks in the UK. Finally, traditional banks are taking a leaf out of their book and beginning to offer real-time spending notifications too. These notifications help customers stay on top of their finances and stay up to date on where their money is going. Most digital banks also make it a top priority to help their customers make the most of their money, with Monzo being the trailblazer in introducing savings pots or jars. Other digital banks have subsequently introduced their versions of, such as Revolut and Starling.
Finding the digital bank that is right for you will largely depend on your personal finance needs and goals. You may want to check the bank’s licenses and guarantees, whether they are FSCS protected, whether there are any hidden fees, and whether you can set up direct debits and standing orders.