I'm in the same demographic, same kinda of social group, and most of the people I know who use monzo still don't use it as the account where they store the bulk of their cash, it is more for travelling than anything else. The free (up to £200) withdrawals and inter-bank exchange rate make it a no-brainer for that, but there's still nothing about it which would make me switch away from a current account with a decent interest rate and added extras like insurance, or cashback on bills.

> switch away from a current account with a decent interest rate and added extras like insurance, or cashback on bills

what. First, there are no offers with decent interest rates out there. Second, Revolut has insurance. Third, Monzo is so awesome that most people just use it even though it's a debit card.

you can easily get 3-5% on a current account if you shop around a bit, and are willing to put up with switching once a year (a bit much for me, but some folk will go to the effort for the sake of a couple hundred quid).

when I say insurance, I mean, for instance, when I had a halifax current account, they threw in AA coverage, and mobile phone insurance as part of having a current account with them. I'm not aware of any challenger bank that has extras like that.

What UK current account do you have with a decent interest rate? By decent do you mean 0.02% or something?

I use santander, which has 1.5% interest (not amazing, but better than nothing) + 3% cashback on phone and internet bills, 2% on utilities and 1% on council tax / mortgages, which adds up to significantly more than the interest over the course of a year.

Why do you care about interest on a current account? How much are you going to keep in there anyway?

Depends on individual and outgoing mine has 2-4k I am not aggressively filling my ISA's at the moment so it might as well sit there.

So even at an astronomical interest rate of something like 3% that's still not even really worth more than half an hour of time shopping around to get a better rate.

Well I am derisking and taking money out of my PtP other wise I could get 4% with zopa

I keep 3 months pay as emergency cash on hand in that account.

I think Starling is 2%.

Starling is 0.5% for balances up to £2000, and 0.25% for balances up to £85000

I'm a millennial working in tech in the UK and I've never heard of it! I'll have to take a look. It'll probably turn up here in the North in three years like most new things.

They have done several events in Manchester already