Discover digital banking with Starling Bank
Starling Bank helps you budget, save and travel for cheaper. Benefit from the perks and practicality of the mobile phone-based banking solution.
Key takeaways
Starling Bank was founded by Anne Boden in 2014, and offers a range of accounts, including current, joint, and business accounts
It supports overseas spending and doesn't charge fees for using your debit card abroad for purchases or ATM withdrawals
The bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
What is Starling Bank?
Starling Bank is a UK-based, app-only bank offering a range of personal and business banking products through its mobile application.
Founded in 2014 by Anne Boden, it operates without physical branches, allowing customers to manage their finances entirely via their smartphones.
What products does Starling Bank offer?
Starling provides various accounts, including:
It also offers savings options like the Easy Saver and Fixed Saver accounts, as well as lending products such as overdrafts and loans.
How does Starling Bank work?
Customers can open an account in minutes through the Starling mobile app, available on iOS and Android devices.
The app enables users to perform standard banking activities, including setting up standing orders, making payments, and withdrawing cash using a Mastercard debit card.
Features like instant payment notifications, spending insights, and in-app card controls provide enhanced financial management.
Why should I choose Starling Bank?
Starling Bank distinguishes itself with several innovative features, including:
Reasons to join Starling Bank
Recycled debit cards
Starling introduced the UK's first Mastercard™ debit cards made from 75% recycled plastic, reflecting its commitment to sustainability.
Spaces and virtual cards
The 'Spaces' feature allows customers to allocate funds for specific purposes, such as 'Bills' or 'Groceries', separate from the main balance. Linked virtual cards enable spending directly from these Spaces, aiding in budgeting and financial organisation.
Round ups
This feature automatically rounds up transactions to the nearest pound and transfers the difference into a designated Space, facilitating effortless saving.
In-app marketplace
Starling's marketplace integrates third-party financial services, offering customers access to products like insurance, investments, and pensions directly through the app.
Access to faster payments
Businesses can access real-time payments without direct membership in the Faster Payment System, enhancing payment efficiency.
Mobile cheque deposits
Customers can deposit cheques up to £1,000 by simply taking a photo within the Starling app, eliminating the need to visit a bank branch.
Connected cards
Starling offers 'Connected cards,' which are additional debit cards linked to a specific Space in your account. These are useful for allowing trusted individuals to make purchases on your behalf, with spending capped at £200.
Spending insights
The app provides detailed spending analytics, categorising expenses to help users understand their spending habits and manage budgets more effectively.
Instant notifications
Starling sends real-time alerts for all account activities, including payments, withdrawals, and deposits, aiding in immediate account monitoring.
24/7 UK-based customer support
Starling provides round-the-clock customer service from UK-based representatives, ensuring assistance is available whenever needed.
Is Starling Bank cheaper for overseas spending?
Yes, Starling Bank is cost-effective for overseas spending. Unlike many traditional banks, Starling does not charge fees for using your debit card abroad, whether for purchases or ATM withdrawals.
Transactions are converted using Mastercard's exchange rate without any additional mark-ups. However, be aware that some foreign ATM providers may impose their own fees, which are beyond Starling's control.
Does Starling Bank offer overdrafts?
Yes, Starling Bank offers overdraft facilities for both personal and business accounts. For personal accounts, customers can apply for an overdraft directly through the Starling app. Interest rates are determined by various factors, including credit assessments.
For business accounts, Starling provides overdrafts ranging from £1,000 to £50,000. These are available to limited companies and limited liability partnerships, subject to a full credit assessment. A personal guarantee is required as security, and an arrangement fee applies.
To manage your overdraft, the Starling app offers features such as an overdraft cap, allowing you to control how much of your overdraft is available for use.
Is Starling Bank safe?
Yes, Starling Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person.
Who is Starling Bank owned by?
Starling Bank is a privately held company with a diverse ownership structure. A significant portion of its shares is held by institutional investors, including The Goldman Sachs Group, Fidelity Management & Research Company, and the Qatar Investment Authority. The bank's founder, Anne Boden, retains a personal stake of approximately 4.9%.
How can I apply for a Starling Bank account?
To apply, download the Starling Bank app from your device's app store. You'll need to provide personal details and verify your identity by submitting a photo ID and a short video selfie. Once the verification process is complete, your account will be set up, and you'll receive your debit card by post.
How do I contact Starling Bank?
Starling offers 24/7 customer support via live chat within the app and through their website. You can also reach them by emailing help@starlingbank.com or calling 0800 0234 617. For more information, visit Starling Bank's official website.
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Tim Heming
Personal Finance Expert
Tim Heming is a journalist and editor who has written about personal finance for national newspapers and consumer websites for 15 years. Tim enjoys providing no-nonsense information to help consumers...
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Collette Shackleton
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Collette Shackleton is a highly skilled Content Writer who has over nine years’ experience creating helpful and engaging personal finance content for consumers. Collette shares her experience as a...
