Skip to main content

Revolut vs Starling: Which is the Best Challenger Bank in the UK?

 If you're looking for a new banking experience in the UK, you may want to consider a challenger bank. These digital banks offer innovative features and often have lower fees than traditional banks. In this article, we compare two of the top challenger banks in the UK, Revolut and Starling, to help you decide which one is right for you.

Introduction to challenger banks in UK

Challenger banks are digital banks that offer a modern banking experience. They often have lower fees than traditional banks and offer innovative features such as budgeting tools, instant notifications, and the ability to freeze your card if it's lost or stolen. Challenger banks are becoming increasingly popular in the UK, with many people switching from traditional banks to take advantage of their benefits.

Features and benefits of Revolut

Revolut offers a range of features and benefits that make it a popular choice for many people. These include the ability to hold and exchange 28 different currencies, free international money transfers, and the ability to buy and sell cryptocurrencies. Revolut also offers budgeting tools, instant notifications for transactions, and the ability to set up recurring payments. Additionally, Revolut offers a premium subscription service that includes benefits such as travel insurance, airport lounge access, and higher withdrawal limits.

Features and benefits of Starling

Starling is another popular challenger bank in the UK that offers a range of features and benefits. These include fee-free spending and withdrawals abroad, the ability to hold and manage multiple accounts in one app, and the option to set savings goals and round up transactions to save money. Starling also offers real-time notifications for transactions, 24/7 customer support, and the ability to lock and unlock your card instantly if it's lost or stolen. Additionally, Starling offers a business account for freelancers and small businesses, with features such as invoicing and tax calculations.

Fees and charges comparison

When it comes to fees and charges, both Revolut and Starling offer competitive rates compared to traditional banks. Revolut offers a free account with no monthly fees, but charges for certain services such as ATM withdrawals over a certain limit and currency exchange on weekends. Starling also offers a free account with no monthly fees, and does not charge for ATM withdrawals or currency exchange. However, Starling does charge a fee for international transfers. It's important to compare the fees and charges of each bank based on your individual needs and usage to determine which one is the best fit for you.

Conclusion and recommendation

Ultimately, the decision between Revolut and Starling comes down to your individual banking needs and preferences. Both banks offer competitive rates and innovative features, such as budgeting tools and real-time notifications. However, if you frequently travel abroad or make international transfers, Revolut may be the better option due to its lower fees for currency exchange. On the other hand, if you prioritize a seamless and user-friendly mobile banking experience, Starling may be the better choice. We recommend carefully considering your banking habits and comparing the features and fees of each bank before making a decision.

Labels:
Location: United Kingdom

Comments

Post a Comment

Popular posts from this blog

Kroo Banking Overview - Is it better than Traditional Banks?

Kroo banking is a digital banking platform that has been making waves in the UK since it was launched in 2018. The platform offers a range of features that aim to make banking more accessible and user-friendly. With Kroo, you can manage your finances entirely through your mobile device, with no need to visit a physical bank branch. Kroo offers no monthly fees, cashback rewards, and easy-to-use mobile banking features that make it a convenient and cost-effective option for many people. In this article, we'll take a closer look at Kroo banking and its uses in the UK, including the pros and cons of using it compared to traditional banking. Features of Kroo Banking app Kroo banking offers a range of features that are designed to simplify banking and make it more accessible. Here are some of the key features of Kroo banking: Account Opening: Opening a Kroo bank account is quick and easy, with no need to visit a physical branch or submit paper documents. You can complete the applicat...
Post a Comment
Read more

From Visas to Vindaloo: 10 Must-Ask Questions for Indians Moving to the UK

Moving abroad is a dream for many. Skilled professionals from India, especially the younger ones, are always on the lookout for any opportunity that allows them to settle outside. While US is a tough nut to crack without getting educated in a US based university first, countries like the UK, Canada, Australia & the UAE allow many to directly apply for jobs and move there. In today's article, we are going to focus on the UK and delve deeper into why Indians should consider settling in the UK and what are the most common questions they will have when they move. UK Calling: Why Indian Professionals Should Consider Settling in the UK Now There are several reasons why now is a good time for young professionals to consider moving to the UK: The UK job market is growing: Despite the economic uncertainty caused by Brexit and the COVID-19 pandemic, the UK job market has been growing steadily. Many industries, such as tech, healthcare, and finance, are experiencing a high demand for skil...
Post a Comment
Read more