Who has more current accounts - Starling or Monzo?


I’m intrigued, considering Monzo’s count on their homepage is live data.

Does anyone know if starling has more?


Last time Starling announced figures it was just over 100k that was two months ago, I’ll hunt out the article later.


Over 100k more than Monzo? Or 100k total?

Has to be more than 100k, right? Monzo currently has 846,000.


I’m not aware of Starling announcing customer numbers? When did this happen?


Monzo have substantially more something like 550k more at last comparison.


@MIROW might know more. I remember him stating in February/March that someone told him it was around 150-200K, although I expect this figure to be much higher now + but not yet as high as Monzo’s.


Like I said I’ll hunt it the article later, it was when they released new features a while back. I’m on my mobile so can’t get it now


I’ll be interested to see that as I don’t believe Starling have released any info regarding customer numbers.


I thought they’d have a lot more, especially with the MSE endorsement.

Interesting, I think Starling is a bit more feature rich.


Yes. That was a figure I heard at that time, but:
A) I never saw any official proof from Starling employees, that information was from a 3rd party
B) they have presumably had exponential growth with the addition of joint accounts and business accounts, so I believe the figure will be much higher than that


It makes me wonder at what point will they introduce international withdrawal fees.

Is it currently £300/day?


Why would they introduce them? Their customer profile is different and they have other revenue streams than Monzo (who now looking at other possible fees for Monzo.me and Top Ups)


Oh really?

I never knew this, interesting - it really is such an advantage to have, it’s so handy and I think at worst it should be given to people who pay £750+ in with 2 DD’s etc so you know they’re not just milking it for the sake of it.


No, Monzo were always going to be way ahead because of their product. I have pre-pay accounts i haven’t used in forever, but i keep them, because, well, i can, which is why their figues are so high. There were so many prepay cards out there, which became current accounts, that, especially in Monzo’s case, the figure is meaningless. You’re better having 1000 total accounts with everyone using it as their main account every day with salary and daily spending, than having 10000, many of which have less than a tenner in or get topped up and used for nights out or holidays or whatever, which is why monzo went so hard in the whole #FullMonzo stuff, to try and get the huge percentage of their accounts that are dormant, rarely used or have little money in into accounts that will actually make Monzo money. An rarely used account costs, not makes, them money so they’d actually be better off doing a big cull of all these accounts and sticking with the 30% or whatever that are actually used, but they’d never do that for PR reasons. Having said that, the same could be true for Starling, perhaps few of their 200k say actually are regularly used, i’ve no idea, but at least starling have many sources of revenue from the Overdrafts to the marketplace to the payment services which if they hit gold on could in theory keep the whole company afloat without the need for anything else, although of course that’s not the intention.


Agree. Just compare Monzo and Monese. Monese have about 500,000 customers of whom 80% get their salary paid in. Monzo have about 750,000 customers of whom about 40% get their salary paid in. I know which I think is more successful :wink:


Interesting now you’ve put it that way.

I do like Starling’s approach, no emojis in the notifications and little things like that. It makes it seem a little more professional, which I like. I don’t use a bank to be edgy, I use it because it does what I want it to.

I do like Monzo, don’t get me wrong. I’m just not a fan of the cult-like status they have on the forums and such.


I thought Monzo’s salary pay in rate was about 15% form there last open office?


Wow, it is even worse than I thought no wonder they dropped free banking and have started bringing in charges!


Jesus, that’s low.

But now I see that people who had pre-paid accounts got them upgraded and probably never use them now they’ve introduced a cap on the withdrawing abroad.


I hear ya, and what i was saying was in no way meant as a put down of Monzo, as i said, for all i know Starling might be in the same position with a lot of rarely used accounts, although the fact that they never had the prepay, and have a less millennial focused offering would suggest its much less likely, but unless anyone on here has the figures, we don’t know.

Monzo seem very much to be taking the route of a tech company, get as much money in from investors as possible, spend spend spend, get the business as big as possible both in size and impact, then go public or sell (although Blomfield has said he won’t sell) or whatever and then you can pay back all the people you owe and hopefully will be big enough at that point to be a viable trading business that can exist long term. They may deny this, I’ve no idea, but that’s how i see it.

Starling seem and again, this is how i see it, entirely free of any actual knowledge, there are plenty of people around here who could actually tell me i’m talking out of my hat, not least Anne, but to me Starling seem to be taking the route of a standard bank, which although it may make some people cringe i said that since they’re trying to get away from the image of traditional banking, the system does actually work as long as people dont start being unethical or too risky; Find as many different ways to get revenue in, be it through personal customers, business, affiliate fees via the marketplace, payment infrastructure… picking the the things that traditional banks do that you want to do, then reinventing them in a way that both you’re comfortable with and that you can really add value to so that people will switch from the traditional players to you. If you can invent some new stuff too then all the better. More of a ‘slow and steady wins the race’ approach.

That’s how i see it at least. I could well be talking absolute nonsense, i usually am.

@MIROW, you can tell me if i’m talking rubbish here, this is far more your area than mine!