19.07
 |  Opinions & news

FinTech in everyday life

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I am a self-professed FinTech geek. I regularly read articles about new FinTech applications and start-ups – but I don’t feel satisfied with just reading about them. I want to try them. All of them!

Here are two I’ve been trying out over the last few months:

Monzo

By now, most people have heard of Monzo, a digital mobile-only banking service with its famously vibrant cards. 

I converted to its debit card option when it arrived, and I love it. Although Monzo doesn’t offer me any extra rewards, I do transfer my monthly salary into the account to help track my spending. It’s definitely made me more aware of my spending habits. Its ‘pot’ function, where you can create and top-up multiple mini-accounts, has been super helpful. I use these ‘pots’ to save a small amount every month for things like MOTs and insurance. 

Curve

Curve is a little newer than Monzo. This nifty little app lets you consolidate all of your cards in one place (perfect for a FinTech freak like me!) where you can just swipe, select and pay on the card that suits you best for whatever transaction you need to undertake in that moment.

I have seven bank cards at last count – from travel cards like Revolut and Clarity to money management cards like Monzo, as well as credit and current account cards. That’s a lot of cards to stuff in your wallet (or purse). I love Curve for the option to have just one card, and the app is so easy a child could use it (warning!).

However, Curve is new-ish, and a little unpredictable, so it makes me nervous to go out without at least one other card in tow. For example, it was declined in Tesco getting cash back (I’m not sure if Curve allows cash back or if this was just a glitch), and I have been into one or two small convenience stores where the machine just wouldn’t accept payment. 

The biggest turn-off is definitely a major one: spending on a credit card via Curve invalidates your credit card protection. Hopefully, this will be something the company can overcome, and soon.

If anyone has heard of a new FinTech apps recently, let us know – we’d love to give them a go! Share your findings with us on Linkedin or Twitter.

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