Starling Bank UK

What is Starling Bank UK

Starling Bank UK provides a complete UK current account that can be opened and managed directly from the app. It aims to make banking easier, more customer-centric, and access your finances anytime, anywhere. After registering, you will get a current account, a debit card, and an application that can help you understand where your funds are budget and savings.

How does Starling Bank work

The app focuses on needs with a minimalist design that contains important information. The tab allows you to access other features, including:

 As with any payment system, there is a feature to transfer your current long-term orders from your old bank.

 There is no limit to the amount you can pay for anyone who joins after August 2018. You can use “Quick Payment” and online banking to add anything you like.

 Get your payment record, your money will be sorted, let you know where you spend it, which lets you know where you can deposit money.

 This is basically a digital piggy bank. You set goals, then manually or automatically transfer funds and encourage you to save more. When you register the card, Starling will send you a physical bank card (MasterCard debit card). From the app, you can activate the card, let Starling know if you are going abroad, and deactivate it manually if the card is lost or stolen. It can do everything you want, from making debit card payments to allowing you to withdraw money from ATMs. The Starling Debit Card is also the first MasterCard made of recycled plastic (PVC) in the UK. https://alphacoaching.org/

Starling’s cooperation with third-party financial technology companies provides a way to compare insurance, pension, and mortgage loans. Physical cash burden. Although there is no Starling Bank branch, you can deposit money into your account for free at a branch of the UK Post Office.

Starling Bank Overdraft, Fees and Limitations

Starling offers an adjustable overdraft option. Interest is calculated daily and 15%, 25%, or 35% EAR (variable) is charged depending on the customer credit score. There are no additional charges for uncontrolled overdrafts.

  • Current account and transactions. Starling bank UK does not charge you for basic transactions and banking services. There is no monthly account fee and card payments and ATM withdrawals are free in the UK and abroad.
  • International money transfer. Starling bank UK charges a fee to send money abroad depending on the recipient country and the amount of money transferred.
  • Loads of cash. It is free to deposit and withdraw money for personal current account holders at your local post office.

Euro accounts of Starling Bank

If you have a Starling bank UK personal account, you can open a Euro account with it for free. However, the change in interest rates for some high-value euro accounts came into effect in November 2020. Rs. A negative interest rate of -0.5% applies to amounts greater than.

Advantage

  • A free UK current account usually works in seconds. The card is distributed on weekdays.
  • Smooth mobile app with budget and savings features, cost classification, and target savings.
  • The interest rate is paid on the current account balance.
  • Easily split the bill with the Starling Bank ‘setup’ feature.
  • Fee-free expenses abroad and fee-free ATM withdrawals abroad.
  • Starling’s “Marketplace” offers pensions, mortgages, and insurance from other financial institutions.
  • Overdraft is available and fees are easy to understand.

Disadvantage

  • Although Starling bank UK offers a wide variety of services, it is still a new bank, so more advanced services such as mortgages have not yet been provided, but some products are available through Starling Bank UK Marketplace.
  • There are no bank branches, but you can use the post office to deposit and withdraw money. You will not receive face-to-face communication with Starling Bank staff.

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