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Has anyone use start up bank "Countingup"

Has anyone use start up bank "Countingup"

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Has anyone use start up bank "Countingup" as it combines bank account and accounting package in one and keeps the two up to date in real time it looks like a real time saver - or has anyone found problems with it?

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By Accountant A
18th Apr 2019 11:40

I've used it. Shocking; wouldn't recommend at all. Avoid.

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Replying to Accountant A:
picture of Andrew
By Andrew Carmichael
18th Apr 2019 11:52

thanks for the quick response - your experience seems pretty bad to have elicited such a strong reply!

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Replying to Andrew Carmichael:
Andrew Garvey
By AndrewGarvey
23rd Apr 2019 15:58

Hi Andrew,

I would be delighted to set up a brief video call to set up a demo and answer any questions if that would be useful.

Best regards

Andrew

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Replying to Accountant A:
Andrew Garvey
By AndrewGarvey
23rd Apr 2019 15:57

Hi. Sorry to hear you've had a bad experience. Can I ask what you found poor, please? We have nearly 13,000 customers and the feedback we get is overwhelmingly positive.

We have an excellent rating on Trustpilot so I'd be really keen to get to the bottom of the issue that you had.

https://uk.trustpilot.com/review/countingup.com

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By SWLondonTax
18th Apr 2019 14:44

It's not a bank and is not covered by the fscs.

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Replying to SWLondonTax:
Andrew Garvey
By AndrewGarvey
23rd Apr 2019 16:05

Hi,

Like many digital challenger banking providers, we are an e-money institution and not a bank. We don't lend out our deposits.

An amount equivalent to the money in Countingup current accounts is held in a safeguarding account with Barclays Bank PLC which gives customers protection against insolvency.

Best

Andrew

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Replying to AndrewGarvey:
Quack
By Constantly Confused
23rd Apr 2019 17:14

AndrewGarvey wrote:

Hi,

Like many digital challenger banking providers, we are an e-money institution and not a bank. We don't lend out our deposits.


How do you make your money? Is it purely fees by users?
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Replying to Constantly Confused:
Andrew Garvey
By AndrewGarvey
24th Apr 2019 10:53

Hi CC,

As we're a banking and accounting app we charge a monthly fee the same way as other cloud accounting software providers and indeed banking providers do. For our smallest customers, there is a free plan. There are some banking fees.

We also partner with other companies such as Iwoca and Capital on Tap to offer lending to customers.

Best regards

Andrew

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Replying to AndrewGarvey:
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By johnhemming
24th Apr 2019 11:05

I tried to sign up with Counting Up (for Cirrostratus Exedra Ltd 11540441 last year if Andrew wishes to check). It proved impossible because I live a slightly complicated life with a number of different addresses. I don't think I got as far as having a PEP AML flag and I am not sure I hit that particular button these days -I used to. Hence I cannot say much about Counting Up apart from the above.

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Replying to johnhemming:
Andrew Garvey
By AndrewGarvey
26th Apr 2019 09:14

Hi John,

I'll take a look. Perhaps you can e-mail me at [email protected] so we can pick up privately.

Best

Andrew

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Replying to AndrewGarvey:
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By johnhemming
26th Apr 2019 09:46

I have.

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Replying to AndrewGarvey:
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By davidbarry
01st May 2019 16:21

Hello Andrew. I tried signing up today. I downloaded the app. and it now says installed. However, nothing has appeared on my phone. Also, i am trying to work out costs for both myself and other businesses who might be interested. I like the idea of both 'servings' being available in one app. I am, though, concerned about the FSA limitations, not for myself, but for clients.

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By SWLondonTax
02nd May 2019 12:47

Starling Bank is where you need to go guys. No fees. Actually a bank.

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