The digital upstarts offering app-only banking for smartphone users

No premises on the high street - that is what unites these new entrants. Here's a look at what the new players will offer

They are the new breed of digital banks for people who live on their smartphones and want something that looks more like Netflix than NatWest. They typically have snappy, quirky, one-word names - Starling, Mondo, B - and make claims such as "we're redefining what a bank should be". And they tout themselves as genuine alternatives to the big high street players.

These new entrants are all trying to plug into our rapidly increasing use of digital technology as branch visits decline. But what's in it for us as potential customers? Do they offer enough in financial terms to tempt us to ditch our existing bank? What are the downsides?

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