Starling Bank is a British online bank that was founded in the United Kingdom in 2014. It is a fully licensed and regulated bank, and it offers a range of banking products and services, including current accounts, business accounts, Euro accounts, overdrafts, and loans.
Starling Bank Features
Starling Bank offers a wide range of features, including:
- Personal accounts: Starling Bank provides personal accounts for individuals.
- Business accounts: Starling business accounts are for limited companies and other registered businesses, as well as sole traders.
- Joint accounts: A joint account in the UK for shared spending.
- Starling Kite: A debit card for your kids to develop early financial management skills.
- Multicurrency account: Personal euro account, USD and euro business account in the UK for businesses needing to hold and transact in euros and US dollars.
- Teen accounts: Starling Bank offers teen accounts to manage their finances.
- Overdrafts and loans: Starling Bank provides overdrafts and loans, supporting you in managing unforeseen expenses or consolidating debt.
- Money transfers: Money transfers to bank accounts across 36 countries worldwide.
How Starling Bank Works
Starling Bank is a mobile-only bank, which means that you can do all of your banking from your phone using the Starling Bank app. To open an account, you will need to provide the following:
- A valid government-issued photo ID
- A video selfie
- A document that proves your UK address
If you are an international student, you can use a letter from your university that confirms your term time address. The letter must be signed and dated within the last 3 months.
You can apply for a joint account if you both have a personal account with Starling Bank. You will also need to be in the same room to apply. Limited companies, sole traders, and limited liability partnerships (LLPs) can apply to open a business current account.
To open a USD or euro account for your business, you can apply from the menu in the Starling app by tapping “Open a new account”. You will need to have a Starling personal or business account first. For business customers, the euro account costs £2 per month. It is free for personal customers.
Starling Bank Fees
Starling Bank offers a variety of products and features, some of which are free and some of which charge a fee.
|Fees and Features
|No monthly fees, free Faster Payments, Direct Debits, and Standing Orders, £20 for each CHAPS payment, fee-free international ATM withdrawals
|Joint Current Account
|No monthly fee
|Personal Euro Account
|No monthly fee
|£2 per month
|Depositing through Post Office
|Above £1000 annual limit: 0.7% of the deposited amount
|Business Current Account
|No monthly fee
|Business Bulk Payments
|Euro Business Current Account
|£2 per month
|USD Business Current Account
|£5 per month (paid in advance)
How Safe Is Starling Bank
Starling Bank is a safe and legitimate bank. It is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), which means that it is subject to strict rules and regulations. Your money is protected up to £85,000 per person in the event that Starling Bank fails. However, if you have more than £85,000 in your Starling Bank account, you may want to consider spreading your money across multiple accounts. Starling Bank also uses the latest security technology to protect your money.
Starling bank was voted the best British bank and also the best current account provider at the British Bank Awards in 2018 and 2019.
Starling Bank Online Reviews
Starling is one of the best challenger banks in the UK. Its mobile app is elegant and efficient. At the time of writing, Starling Bank has a good rating on Trustpilot with an average of 4.3 out of 5 stars from over 36,000 reviews. This indicates that the majority of customers are satisfied with the bank. However, there are some negative reviews that mention problems with customer service and the app. The main issues behind the negative reviews were concerns about accounts not being closed when requested, poor communication, delays in receiving debit card, and around unexplained deductions. These reviews should be taken into account when considering whether to open an account with Starling Bank.
Starling Bank Alternatives
If Starling Bank does not offer what you are looking for, here are some Starling Bank alternatives:
Starling Bank FAQs
Is Starling a real bank account?
Starling is a real bank account. It is a fully licensed and regulated bank in the United Kingdom. It is a virtual bank, which means that it does not have any physical branches. However, this does not mean that it is not a real bank.
Where is Starling Bank Based?
Starling Bank has its head offices in London, United Kingdom, but the team also works across offices in Cardiff, Dublin, and Southampton. Starling doesn't have bank branches. However, you can use the Post Office to deposit and withdraw cash.
Is Starling Bank only for UK residents?
Starling Bank only offer accounts to British residents who are over 16, of any nationality, who have a UK address.
What's Starling Bank customer support?
Customer support is very efficient. If you need any help, the support team is available 24/7 for a live chat. You can access the team via the app on Google Play or App Store or through the official Starling Bank website. You can also contact the bank by emailing them at firstname.lastname@example.org or call them directly on 0800 0234617. If you are calling from abroad, call through +44(0) 207 930 4450
Is Starling Bank any good?
Starling Bank is a good bank for people who are looking for a virtual banking experience. The bank offer personal, joint, teen, and business account. Most accounts have no monthly fees and it even offers Euro accounts in the UK.