glint_250_250

Glint review May 2019

Find out more about the startup describing itself as a new global currency.

Glint is a fintech app taking an interesting new approach to current accounts and finance. At its core, Glint works like many other challenger banks, providing a system for customers to spend their money from the convenient platform of their smartphone. However, Glint differs in one crucial area: rather than using the traditional currency, Glint is attempting to bring back gold.

Read on to find out more about Glint and whether it might be an option for you.

What is Glint?

Glint felt that “it was unfair that money is prone to depreciate in ways we have no control over”, and sees the solution in gold. According to Glint, gold is a trustworthy form of money – an independent and more stable currency that gives some control back to the consumer.

With a Glint account, your transactions are backed by gold, and, because it isn’t exclusive to one country, you can make them anywhere.

Download Starling now for free

Use the button below and set up an account in minutes.

  • Download and apply for a current account in 3 minutes
  • Order your card and get started
  • No more admin, no more delays, no more fees
  • Protected by the FSCS
  • Instant notifications and payments

Promoted

How does Glint work?

Like most other challenger banks and fintech companies, Glint works almost entirely from your smartphone, with the exception of the physical card that they will send after registering.

Getting started is simple. You register by entering your name and address, and the process of receiving your card and completing your registration is just as streamlined. Once in the app, it’s easy to find your way around the home page.

Only the essentials are featured on the app. These include:

  • Markets. Glint has a collection of third-party providers offering a variety of services for you to choose from. Browse through them from here.
  • Tailoring. Customise your account, review settings and security, and more.
  • Homescreen. From the homescreen you can see your Glint Mastercard balance and its equivalent value in gold and a number of other currencies. Glint also provides a net value estimate.
  • Transfer between accounts. Transfer money from one account to another – great for managing your budget and travelling.
  • Top-up funds. Add more money to your Glint account – transfer via your bank or through a deposit.
  • Invite a friend. Invite a friend to join. Keep in mind that Glint is only on the Apple App Store, so your friend best have an iPhone.
  • Account. In the top right of your homepage you can find your account overview. From here you can manage and change your account details.

Using Glint abroad

Glint is a great travel tool. Not only can it be used anywhere via the app, but because gold’s value is recognised in many different countries you don’t have to struggle with exchanging currency. Additionally, because Glint uses Mastercard, your Glint card is accepted in over 30 million locations worldwide.

If you're travelling abroad

If you are heading overseas and are thinking about travel money, head to our travel money section for the cheapest deals on foreign currencies, or to our travel section for tips on how to get cheap flights!

Glint fees, limits and pricing

Opening a Glint account costs nothing, but Glint does come with a handful of fees and limits. These include:

  • The gold exchange fee comes with a charge of 0.5% of the transaction value. Similarly, the foreign exchange fee is 0.5% of the transaction value.
  • Point-of-sale transactions are free with a limit of £5,000 per day; ATM withdrawals cost £1.50 with a limit of £300 per day.
  • Topping up via debit card is free, but is limited to £2,000 per day. You cannot load money using a credit card.
  • Bank transfers are free.
  • There are no insurance or storage fees on your end, though your gold is stored and insured.
  • Account closures also cost nothing.

Is Glint safe?

Glint is regulated by the Financial Conduct Authority, meaning your money is always safe even in unforeseen circumstances. Your money and sensitive details are kept behind a password, and registration requires proper authentication before you are approved. You can only activate your card once it’s reached you, so if it’s stolen before it’s arrived it’s completely useless.

Pros and cons of Glint

Pros

  • Reasonable fees and limits.
  • Gold is not exclusive to one country.
  • Contactless debit card.
  • Simple and functional app design.
  • Quick and easy registration.
  • Great to travel with.
  • Safe and secure.
  • Fully registered with the FCA and PRA.

Cons

  • Currently unavailable for Android users.
  • Gold is still vulnerable to market movements and its value can fluctuate.
  • Compared to other challenger banking apps, Glint’s app offers far less features to help manage your finances.
  • Traditional banks are still necessary for most of your banking and financial needs.

While Glint doesn’t work as a replacement for traditional banking services, it does make a great companion to them. The work that has gone into creating such a complex app definitely shows, and hopefully it will be available to everyone at some point in the future.

Compare Glint against its competitors

Updated May 20th, 2019
Name Product Fees and charges Delivery speed
N26
Free
5-7 working days
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Free
Between 3-5 working days
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
None
Between 3-5 business days
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Updated May 20th, 2019
Name Product Foreign ATM withdrawals ATM withdrawal limit Foreign transactions fee Card cost Delivery speed
N26
ATM fees differ depending on country
Unlimited free withdrawals
No fees
Free
5-7 working days
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
No ATM fees
£200 per month. Anything more is charged at 2% of value of withdrawal.
No fees
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
No ATM fees
£300 per day. Maximum of 6 withdrawals per day.
No fees
Free
Between 3-5 working days
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
€1 per withdrawal
£300 per day
2% on card spend and ATM usage
Card delivery is free
Between 3-5 business days
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Updated May 20th, 2019
Name Product Fees and charges Interest Savings goals
N26
Free
None
n26 'Spaces' feature lets the user open sub-accounts to stash your money away
Free with finder.com, otherwise card delivery is £4.99
No interest
Set budgets in the app
Free
0.5% AER up to £2,000, 0.25% over £2,000 to £85,000
Create up to 10 different spending goals and protect money from daily spending
None
No interest
Not a feature

Compare up to 4 providers

Updated May 20th, 2019
Name Product Direct debits UK ATMs Payments Freeze your card
N26
Yes
Free
Use MoneyBeam to transfer money instantly. Is partnered with Transferwise so can send money to 16 countries.
Yes: touch of a button in app
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
Revolut currently only supports direct debits with the Euro IBAN account
Free up to £200 a month
Easy UK payments and can transfer money between 23 countries
Yes: touch of a button in app
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Yes
Free
Pay via bank transfer. Can't pay into paypal currently.
Yes: touch of a button in app
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
Yes - can cancel with touch of a button too
£1 per withdrawal
Pay via bank transfer, easier to send to another Monese account.
Report lost/stolen in app to be sent replacement
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Frequently asked questions

N26
N26

What is it?

App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
Revolut (Standard)
Revolut (Standard)

What is it?

App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Starling
Starling

What is it?

Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
Monese (Starter)
Monese (Starter)

What is it?

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    TonyNovember 5, 2018

    How do I know that the money I put into Glint is actually backed up by gold? Other than them simply telling me so?

    • Avatarfinder Customer Care
      JoshuaNovember 19, 2018Staff

      Hi Tony,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      It is worth noting that Glint is regulated by the Financial Conduct Authority (FCA) and this only happens if you meet verification, assessment, and background check by the FCA. For this reason, it is safe to say that Glint’s claims are true, which include that your money is backed up by gold.

      Another way for you to check is to visit their website. You can directly get in touch with them and ask them questions. They can explain to you why they can be trusted.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

Go to site