Starling Bank vs Chase - Everything you need to know before choosing

Starling Bank®¹ is a licensed UK digital bank which has personal and business accounts you can operate online and through an app, as well as a suite of other handy products and services like foreign currency accounts, overdrafts and loans.

You may know Chase® as a US bank - but Chase UK®² is a recently launched alternative for UK customers, with a London base and Edinburgh customer contact centre. At present, over a million customers have current and savings accounts with Chase UK, which are also digital and managed online and in-app.

If you’re not sure which option is right for you, read on. We’ll run through a full review of Starling Bank vs Chase compared, and introduce Wise as a non-bank alternative, with handy multi-currency features, low fees and the mid-market rate³.

What is Starling Bank?

Starling Bank is an independent UK digital bank which has 3 million customers, and a broad range of products for personal and business customers.

Starling Bank personal accounts come with debit cards, and are available to hold GBP and EUR, while Starling Bank Business accounts are offered in GBP, EUR or USD. There are also teen accounts and cards, savings accounts, overdrafts and loans..

What is Chase?

Recently launched in the UK, Chase is a mobile first digital bank with a current account and a savings account available for UK customers.

Chase has relatively strong interest rates on saving accounts, and also offers ‘roundups’⁴ which are a neat feature to help you save by rounding up card spending and depositing the extra into a higher interest pot. Similar to Starling, Chase also has a social mission, working towards supporting childhood literacy and library provisions in the UK.

Starling Bank’s mission sits around keeping costs low and transparent, and offering customers ways to bank sustainably.

Starling Bank vs Chase benefits

Starling Bank and Chase do have some overlapping products, but Starling has a broader range at the point of writing, with more account types and services, plus business options. First, let’s look at some benefits offered by both Starling Bank and Chase:

• Both Starling Bank and Chase are digital only providers
• Starling Bank and Chase both service UK based personal customers
• Both Starling Bank and Chase offer current account and saving products
• Starling Bank and Chase both have accounts with very few fees to worry about
• Starling Bank and Chase both have full UK banking licences

Starling Bank and Chase are quite different banks beyond this, and each have their own unique features and benefits. Let’s look at these individually:

Starling Bank Benefits

• Broad selection of accounts including individual and joint personal accounts⁵, and accounts for teens
• Fixed term savings options⁶
• Business banking services available
• International transfers to 35 countries and foreign currency account options available
• Overdrafts and loans offered for both personal and business customers

Chase Benefits

• Current account⁷ has cash back on spending - and interest on your balance
• Saving account⁸ has fairly high interest, and offers instant access
• Specialist environmentally friendly loan options
• Roundup feature for easier saving as you spend
• Integrated with Nutmeg® which offers investment options for UK residents

Starling Bank does have a more complete suite of banking products compared to Chase - but if you happen to be looking for an account which lets you spend and save, with instant access and cash back, it’s well worth considering Chase too. At the time of writing, Starling offers a higher rate of interest on savings compared to Chase - but as interest rates do change from time to time, this is also worth checking before you pick which provider is best for you.

Starling Bank vs Chase fees and charges

Here’s a summary of Starling Bank vs Chase current account key fees and charges, as well as the interest rates on offer from each. Do double check all fees and rates before signing up as these are subject to change.

*Details correct at time of research 4th October 2023

Once you have a GBP current account from Starling Bank you can also get access to business accounts in EUR and USD, and EUR accounts for personal customers. Fees may apply for these account types, including monthly maintenance charges and transaction costs.

Starling Bank vs Chase - international transfers

Chase does not allow international payments into or out of either its current or savings account. With a Starling Bank GBP account you can send payments to 35 countries online or with your phone.

Whenever you send a payment in a foreign currency it makes sense to compare a few different international money transfer services to pick the one which offers the best value for your specific needs. Let’s look at how Starling Bank’s international transfers measure up against a non-bank alternative: Wise.

When picking a provider for your foreign currency payment, look carefully at the fee and the exchange rate used. There are pretty much always fees to pay - but sometimes the true cost of your transfer is tucked away in the exchange rate used to convert your currency. Both Wise and Starling Bank have transparent fees and exchange rates which make them good options as you can easily see what you’re paying for your transfer.

Starling Bank vs Chase - app and ease of use

With any digital banking service, you’ll be managing your money primarily through an app. This self service model means finding a provider with an intuitive and easy to use app which suits your personal preferences is essential.

Starling Bank has a particularly well reputed app, with a pretty impressive score in both the Apple App store and on Google Play. Chase doesn’t have as many reviews posted, and has a slightly lower score. Here’s how they measure up on app ratings:

• Details correct as of 4th October 2023

Starling Bank app is well rated and available in several languages including English, French and Spanish.

Chase UK doesn’t yet have many app reviews, but it’s good to know that the Chase US app¹⁵ has a 4.8 star rating with over 5 million reviews.

How to easily transfer money with Wise

You can’t send money overseas with Chase - and Starling Bank only offers transfers to a fairly small number of major countries. Compare your options before you next need to make an international transfer, including your bank and non-bank specialist services like Wise.

Wise is not a bank - but it’s regulated in the UK by the FCA. Wise overseas payments are easy and quick - in fact they could even arrive instantly¹⁷ - and can be sent to 160+ countries conveniently through the Wise app.

Wise also offers some neat solutions for anyone who wants to hold, send, spend and exchange foreign currencies, including a multi-currency Wise account you can open online or in the Wise app and a Wise debit card to spend and make withdrawals at home and abroad. Wise accounts can hold 40+ currencies and you can spend with your Wise card in 150+ countries.

You’ll be able to manage your account from your phone - to review your balance, make payments and check transactions. Plus, whenever you’re sending a payment in a foreign currency, spending or making a withdrawal in a currency you don’t hold in your account, you’ll get the mid-market exchange rate with low fees from 0.43%³.

Here’s a step by step guide to sending money with Wise:

1. Download the Wise app for free
2. Register an account by entering your personal and contact information
3. Get verified by uploading a photo of your ID documents
4. Model the payment you want to make to get a fee and rate quote
5. Choose how you want to pay (bank transfer or card for example)
6. Check everything over and confirm - you’ll be prompted to pay using your chosen payment method

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

If you’re still struggling to pick the right bank for your needs, this review of Starling Bank vs Chase compared should help.

Starling Bank has a broad selection of accounts and other services, including easy ways to hold and exchange both GBP and EUR for personal customers. In addition you can get loans, overdrafts and similar services - so you can more or less manage every aspect of your money in one app.

Chase doesn’t have such a broad range of accounts and services, but does have good value easy access saving accounts and a roundup feature which can mean you save without even noticing it. Chase current accounts also offer both interest and cash back on card spending - so you stand to earn when you save, and when you spend, too.

Compare your options against other, non-bank, alternatives, like Wise, to see which might suit your needs. With Wise you’ll still be able to manage your money from your phone but you can hold 40+ currencies, spend in 150+ countries and send payments to 160+ countries - all with the mid-market exchange rate and low, transparent fees.