I have two Polar monitors and M52 and an FT4, but I don't have any experience of the new ones that operate with a smart phone. The M52 had a plastic belt that you threw away when the battery was flat, and the FT4 had a replaceable battery in a transmitter that clipped onto a fabric belt with wire gauze contacts woven in.
The old plastic ones were far more reliable, in fact it took so little time to wear out the contacts on the fabric one that it worked out cheaper to throw away plastic belts than replace batteries and worn out belts on the new one. Newer ones may be improved.
Both of mine are susceptible to interference, power lines, passing trains, and a local radio mast all interfere with it, but I quickly got to know what to expect where. On mine it usually takes the form of reading ~230bpm, but it may have a different effect on newer Bluetooth devices.
Then there's my arrhythmia, which had various effects: usually it would read high, but sometimes it would switch up and down at random. It quickly became obvious that it wasn't interference, not just because it wasn't in familiar places, but also it persisted for hours, not just a few seconds whilst passing under power lines. At first I assumed it was a faulty monitor, and stopped using it, but when I bought the FT4 and found that was the same the penny began to drop.