Starling Bank review: everything you need to know

Looking for a new current account? If you prefer to manage your money online or on your phone, a digital bank could be the ideal solution.

One of the most popular digital banks in the UK at the moment is Starling Bank. But is it the right choice for you?

Find out everything you need to know about accounts, fees, cards, security and much more here in our full Starling Bank review.

We’ll also show you an alternative, the Wise account. It’s fully digital, lets you manage your money in 40+ currencies and beats many banks when it comes to the cost of international transfers.

But more on this later. For now, let’s get back to Starling Bank.

What is Starling Bank? An overview¹

Starling Bank bills itself as “Britain’s first digital bank”. It was launched in 2014, the only bank in British history to be founded by a woman - Anne Boden. Over three million customers have joined the bank since then.

It’s a fully licensed independent bank, and has offices in London, Cardiff and Southampton. But it doesn’t have any customer branches, as it’s a 100% online bank.

Starling is committed to sustainable banking, with a number of eco-friendly initiatives on the go. This includes launching the UK’s first Mastercard cards made from recycled plastic, and funding the planting of 100,000 trees in collaboration with Trillion Trees.

How secure is Starling Bank?

Starling Bank is a strictly regulated financial institution and you can find out more about how they’re regulated here.

It also offers up to £85,000 protection per person under the Financial Services Compensation Scheme (FSCS).

Starling offers a number of sophisticated security measures to protect your account, including:

• Biometric identification
• 3D Secure
• Card controls in the app, including freezing and setting personalised spending limits
• Real-time notifications for payments.

Everything you need to know about Starling Bank accounts

Starling Bank serves both personal and business customers, with a handful of current accounts for each.

For personal customers, there are the following options:

• Personal current account
• Joint account
• Euro account
• Teen account
• Starling Kite - a debit card for children.

Businesses can choose from a business account, sole trader account and US/EUR multi-currency accounts.

Current account features

The Starling Bank Personal Account is app-based, and comes with no monthly fees.

Features include:

• Instant notifications for payments
• Categorised spending insights
• Spaces, so you can round up transactions and put money aside in virtual change jars
• Access to other financial products through Marketplace
• Bill splitting and easy money transfer features
• Earn 0.05% interest on your balance
• Access to a Fixed Saver account
• Mastercard debit card, managed through the app.
• 24/7 customer support based in the UK
• Optional arranged overdraft (subject to application and eligibility).

The Starling Bank debit card

You’ll get a debit Mastercard issued automatically when you open a current account with Starling Bank. It’s contactless, made from recycled plastic and works with mobile wallets such as Google Pay and Apple Pay.

The card works wherever Mastercard payments are accepted, both in the UK and overseas with no foreign transaction fees.

You can also create virtual cards linked to Saving Spaces, and Connected Cards if you’re managing money on behalf of someone else at the moment.

Can you make international transfers with a Starling Bank account?

Yes, Starling accounts are all set up for both domestic (UK) and international payments.

It’s free to send money within the UK, but there are likely to be fees for overseas transfers. This includes receiving money in other currencies too. We’ll cover fees for all Starling international services in just a moment.

For currency conversion, Starling Bank uses the mid-market exchange rate with no hidden mark-up. Any costs relating to currency conversion are included in the transfer fee, and you can see exactly what you’ll pay upfront. You can take a look at fees and rates for your chosen payment using this handy calculator.

Starling Bank accounts for businesses

Thinking of opening a Starling Bank account for your business? The bank claims to have around 500,000 business customers in the UK, and it was named Best Business Banking Provider in the British Bank Awards 2023.²

Here are the kinds of features you can expect from the business current account:²

• No monthly fees or UK payment charges
• Integration with accounting tools such as Xero and QuickBooks
• Free access to multiple directors
• Receipt capture and automated spending categorisation for easy expenses
• International payments
• No fees abroad
• Connect other business accounts
• Cash deposits at the Post Office
• Mobile and online banking
• 24/7 support
• FSCS protection up to £85,000 per account holder.

You can also customise your Starling Business account with add-ons. This includes the Business Toolkit (£7 per month) for streamlined bookkeeping, or the Euro Business Account (£2 per month) for companies which trade in Europe.²

Fees to use Starling Bank

Now we come to the important part - how much does it cost to use Starling Bank?

Here’s a run-through of all the fees and charges for the Starling current account:³

Type	Starling Bank fee
Opening an account	No fee
Monthly maintenance fee	No fee
UK payments	No fee
Using your debit card in the UK	No fee
Using your debit card abroad	No fee
Sending international transfers	0.4% currency conversion fee + £5.50 delivery fee⁴
Receiving international transfers in other currencies	2%⁵
Subscription services - Starling Kite and Connected Cards	£2 a month
Replacement debit card	£5

How to open a Starling Bank account

You should find it pretty straightforward to open a Starling Bank account, as it’s all done through the bank’s mobile app.

So you’ll need your phone ready, along with a valid ID and proof of address (if asked).

Starling accepts the following documents:

• Proof of ID - passport, photocard driving licence, UK residence permit or EU/EEA ID card.
• Proof of address - UK photocard driving licence, recent bank statement, recent utility bill or recent council tax bill. Tenancy agreements, government letters and credit card statements will also be accepted.

You can find out more details about accepted documents here.

With your documents ready, simply download the Starling Bank app from the App Store, Google Play store or Huawei app gallery. You can also start the process online here, if you prefer.

Create your new account by completing the on-screen steps, providing your details when requested. You’ll also need to take a photo of your documents along with a video selfie to confirm your identity.

How long does it take to open a Starling Bank account?

It’s usually quite quick to open a Starling Bank account, with many applications being processed within 24 hours or less.⁶ However, it can sometimes take longer.

Once your account is open, you should receive your new Starling Bank debit card within 9 working days at the most.⁷

Save with Wise when managing your money internationally

Shopping around for the best account for your needs? While you’re comparing banks and providers, make sure to check out the Wise account.

Wise is a money service business, offering a multi-currency account, international money transfer services and a debit card.

When you sign up online with Wise, there’s no initial or monthly fee to pay.

You’ll get a powerful account for managing your money in 40+ currencies, including making international payments for low fees and mid-market exchange rates. These rates are often much better than you’ll get when you use your bank for international transactions.

You can even receive money for free in 9 major currencies, as Wise gives you your own local account details.

For a one-time cost of just £7, you can get a Wise debit card which has no foreign transaction fees for spending abroad.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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And that’s it - everything you need to know about Starling Bank and its accounts for personal and business customers. We’ve covered it all, from account features and fees to security and how Starling cards work internationally.

After reading our Starling Bank review, you should be able to make a fully informed decision on whether it’s the best option for you.

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Sources used:

1. Starling Bank - About
2. Starling Bank - Business Account
3. Starling Bank - Rates, Fees and Charges
4. Starling Bank - Send money abroad
5. Starling Bank - Help - How much does it cost to receive a payment from overseas?
6. Starling Bank - I’ve applied for an account, how long does it take to open?
7. Starling Bank - Help - My card hasn't arrived. What should I do?

Sources last checked on date: 05-Aug-2023