Revolut vs Starling Business Account: Comparison for the UK

Digital business banking accounts let you set up, manage, and maintain your business finances online. Digital banks operate business accounts just like traditional ones do, and they offer similar services. In most cases you can also integrate the account with your accounting software or other business tools.

Both Revolut and Starling are relevant providers for digital business banking solutions, keep reading to see a Revolut vs Starling business account comparison that examines their services and fees.

We'll also present to you an alternative digital banking provider to Revolut and Starling Bank, which is Wise Business multi-currency account.

Learn more about Wise Business

📝 Table of Contents:
Revolut vs Starling Business account - quick overview Starling Business account Starling business account fees Starling business account review Revolut Business account Revolut business account fees Revolut business account review Wise Business Account: alternative to Starling and Revolut

Revolut vs Starling Business account - plans overview

Starling and Revolut both provide business bank accounts. These accounts have different features and they suit various sizes of businesses, from start-ups to large enterprises. Most important notice, both providers have suitable banking solutions for business trading internationally. Take a look at the tables below for a quick comparison of the Starling vs Revolut business accounts.

Revolut Business plans¹

Plans and features	Cost
Free Plastic and virtual company cards Accept payments online Accept payments in person Create and track invoices Invite unlimited team members Manage team expenses 24/7 support Manage payroll Connect company apps 5 free local payments	Free account to use. Charges for certain transactions: Accept card payments from 1% + £0.20 Accept Revolut Pay and Easy Bank payments 1% + £0.20 Accept payments in person from 0.8% + £0.02
Grow Features as for the Free plan and further features including: One free metal card Rewards Business API integration 10 free international payments 100 free local payments Foreign exchange at the Interbank rate £10,000	£25 per month. Charges for certain transactions: Accept card payments from 1% + £0.20 Accept Revolut Pay and Easy Bank payments 1% + £0.20 Accept payments in person from 0.8% + £0.02
Scale Features as for the previous plans, and further features including: Two free metal cards 50 free international payments 1,000 free local payments Foreign exchange at the Interbank rate £50,000	£100 per month. Charges for certain transactions: Accept card payments from 1% + £0.20 Accept Revolut Pay and Easy Bank payments 1% + £0.20 Accept payments in person from 0.8% + £0.02
Enterprise Features as for the previous plans, and further features including: Custom number of metal cards Custom number of free local payments Custom number of free international payments Custom Foreign Exchange at the Interbank rate	Custom costs tailored for larger businesses . Custom charges for certain transactions: Accept card payments Accept Revolut Pay and Easy Bank Transfers Accept payments in person

Starling Business accounts²

Accounts and features	Cost
Business and sole trader account 24/7 support Integration with business accounting apps Receipt capture Mobile and online banking Free ATM withdrawals No fees for card payments or ATM abroad Free UK bank transfers International payments	This account is free of charge Optional fees include: Business toolkit £7 per month Bulk payments £7 per month³ CHAPS payments £20 each Depositing at the Post Office, either £3 or 0.7% of the deposit amount whichever is higher Withdrawing cash at a Post Office counter, £0.50 per transaction
Euro Business and sole trader account Hold euros and exchange them Make and receive local payments free of charge using local account details Spend free of charge like a local using a regular card	This account costs £2 per month
USD Business account Hold, send and receive dollars Use local account details for easier payments Use one regular business card	This account costs £5 per month

Key comparison points

When choosing a provider of a digital bank account for your UK Business, key factors to consider when aiming to pay and get paid internationally are:

• speed for international transfers,
• security,
• convenience and
• customer support options.

Continue reading to see how Starling and Revolut perform in these areas.

Starling Business account

The Starling business account gives you an easy way to keep on top of your business finances. Apply for your account and you get a Starling business card that lets you easily make payments and withdraw cash from your account. Now let's look at the four main comparison points:

• Speed: SWIFT payments usually take 1 to 5 days, local partner network transfers usually take more than that.⁴
• Security: the Financial Services Compensation Scheme (FSCS) regulates the account and covers money up to £85,000.⁵
• Convenience: the Starling mobile app is convenient and easy to use, the account has interesting features such as integration with account tools and bulk payments.
• Customer support: 24/7 customer service is available via the app, phone, or email.⁶

Starling business account fees⁷

As part of the Starling business account review check below the fees for common services you may need:

Service	Fees
International transfer	£5,50 for SWIFT transfer and up to £0,90 for local network transfer
ATM withdrawals	Free
Currency exchange	0.4% fee

Starling Business account review

This account is best known for being a quick and easy banking solution with no monthly fees. The Starling business account fees for features such as currency exchange are also competitive making it a cost effective business banking solution

Finally, take a look at the pros and cons of the Starling business account in the table below.

✅ Pros	⛔️ Cons
24/7 customer support Safe and secure No monthly fees Insights into business spending Multi-currency accounts available	No interest on account balance Charge to deposit money at the Post Office Currency accounts available only for EUR and USD

Revolut Business account

This Revolut business account review aims to show you what to expect from using their business account which gives you a place to receive, hold, and exchange more than 30 currencies. You can also set up sub-accounts in different currencies to make it easier to manage your business finances. Let's check how they perform with the four key comparison points:

• Speed: transfers to other Revolut users and cards happen the same day while international transfers take up to 3-5 business days. ⁸
• Security: licensed banks safeguard money in the account and they have an anti-fraud system.⁹
• Convenience: Revolut Business account comes with payment approvals and real-time notifications making it easier to keep on top of business finances.
• Customer support: when using the bank, revolut business support is available by using in-app chat from Monday-Sunday 24/7 and holders can block lost or stolen cards using the phone.¹⁰

Revolut Business account fees

You can see Revolut business pricing and fees in the tables below. The details cover four business account options.

Service	Fees
International transfer	£3 per transfer on free plan and after exceeding allowance on other plans
ATM withdrawals	2%
Currency exchange	Free plan: 0,4% during foreign exchange market hours¹¹ Grow plan: 0.4% after exceeding free FX allowance of £10.000¹² Scale plan: 0,4% after exceeding free FX allowance of £50.000¹³

Revolut Business account review

The Revolut business account is best known for letting businesses exchange money in over 30 currencies at interbank rates. This makes it easier for businesses to operate internationally. Relevant Revolut business account fees vary between the different types of account available but are always competitive.

Finally, take a look at the pros and cons of the Revolut business account in the table below.

✅ Pros	⛔️ Cons
Flexible account choices Mobile app Competitive exchange rate Quickly freeze lost or stolen cards	Cash and cheque deposits not accepted ATM withdrawal limit of £3,000 on free account 2% fee on ATM withdrawals Not protected by the FSCS

Wise Business Account: alternative to Starling and Revolut

The Wise Business Account is a simple to use business banking solution with transparent and low fees. You can use your account to make and receive payments and manage your international cash flow in one place. You can also save money with this account that gives you 0,5% cashback on purchases made with the Wise Business Card.

When you look at the four main comparison points, you can see why the Wise Business Account is an alternative to a Resolut business account or Starling account.

• Speed: Wise works to process almost all payments instant, but when instant payments are not available they are processed in a few minutes.
• Security: Wise is regulated in the UK and safeguards money in dedicated bank accounts.
• Convenience: using the multi-currency account is simple and convenient for businesses trading abroad.
• Customer support: there’s a comprehensive help centre with the answers to common questions and customer support is available via phone, and email.

Wise Business Account fees

Check Wise Business Account fees in the table below:

Service	Fees
International transfer	From £0,41% (varies by currency)
ATM withdrawals	2 free withdrawals up to £200 per month. Fee of £0.50 + 1,75% on every withdrawal after that
Currency exchange	No mark-up. Wise uses the mid-market exchange rate

Get started with Wise Business multi-currency account

When you get started with Wise Business you get features including:

• Hold and convert funds in 50+ currencies,
• Use the batch payment tool for up to 1,000 transfers at once,
• Send money to 80 countries,
• Receive local and international payments in GBP, USD, EUR, AUD, NZD, SGD, RON, CAD, HUF and TRY,
• Connect the account to business accounting software,
• Use a connected debit card for easy purchasing in the UK or abroad,
• Manage expenses easily by using employee expense cards.

Registering for a Wise Business account is a simple and quick process:

1. Register for an account online,
2. Share details of your business including registration number, location, online presence, and details of all stakeholders.
3. Share details of the owner of the account including identity verification.
4. Set up and pay the 45 GBP one-time fee.
5. Provide any additional verification information that Wise requests.
6. Receive an email once Wise completes verification.

That’s all you need to do to take your business to new places with Wise.

Register for a Wise Account

---

Using a Starling or Revolut business account gives you a quick and easy to use digital banking solution. Each solution has different features but they both allow you to manage your finances conveniently and at a competitive cost.

You can also use the accounts to pay for purchases internationally, especially in the case of the EUR and USD accounts from Starling. The Wise Business Account also makes it easy for you to make payments in international currencies and is an alternative to Starling and Revolut.

---

Sources used:

1. Revolut Business Account Plans
2. Starling Business Account
3. Starling Business Account rates and fees
4. Starling Help Centre - When will my international transfer arrive?
5. Starling FSCS Protection
6. Business account service information - Starling Bank
7. Starling Multi-Currency Accounts
8. Revolut Money Transfer
9. Revolut How We Keep Your Money Safe
10. Revolut Contact Us
11. Revolut Business Fees (Free)
12. Revolut Business Fees (Grow)
13. Revolut Business Fees (Scale)

Sources last checked March 07, 2023