QOTW: Would you consider switching to an app-based bank?

[HEXUS]

Tech start-ups such as Monzo are making strides, but would you be willing to switch?

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[Friesiansam]

No, no I would not.

[Andaho]

I'm not gonna trust a start-up with my money these days... they'd have to be established for long time and have built a good reputation before I would trust them with my money.

[hellig]

dont have a smart phone so

[rahubit369]

Loved Mobile Based Banking but need More Security. There is Many Way To Break a Lock

[nar53]

No chance

[Corky34]

I wouldn't trust a smartphone with any personal data let alone banking details.

[ET3D]

Going to put all my bitcoins in there.

[Gh0sty]

Don't consider it secure enough on a phone so no.

[Mapester]

Even if I wanted to, I expect that any of these apps would refuse to work on my rooted smartphones. To use android pay for example I have to remove root and relock the bootloader so it will work, imho too much hassle for me so I produce my contactless debit card instead to pay for stuff. There is the option to not root my phone in the 1st place but then im stuck with all the bloatware on the phone that I do not want.

[SciFi]

Been using Monzo for a year.. loving it

[plexabit]

I mean, USAA is essentially app-based now. I use them, no problems.

[Output]

Definitely not.

I'm not gonna trust a start-up with my money these days... they'd have to be established for long time and have built a good reputation before I would trust them with my money.

I agree. In addition, I don't like the idea of being limited to only one method (especially in case of any issues).

I see apps as more of a backup for convenience, not a primary way to use sites and services.

[Englander]

No way!

[Potbellieddwarf]

No I wouldn't

[Guy]

Mondo (Monzo!) user here, have been for quite a while. It's not my primary account but once all the regulation hoops, FCA and all other banking licences granted I could see myself switching fully.