I am a happy Starling User since 3 weeks and just closed my legacy bank account with HSBC. At HSBC I was frustrated by a daily cash withdrawal allowance of £500 on my debit card and £500 on my credit card. Every first day of the month, I have to withdraw £650, which I used to split in two: a first cash withdrawal of the maximal allowance of £500 using my debit card, followed by a second withdrawal of £150 using my credit card. This would require me to subsequently make a payment to my credit card account to pay the £150 back. What a hassle!
A second way would be to withdraw £500 on the last day of the previous month and £150 on the first day of the new month, in order to get £650 in cash on time. But I suppose that like me, the majority of us does not like to wander around with £500 in cash in his/her pocket!
What a surprise to learn that Starling Bank does not allow more than £300 to be withdrawn on a daily basis! This would mean 3 days of carrying/storing cash at home in my case…
My proposed use case (UC) would therefore be the following:
UC01: Be able to manage the daily cash withdrawal limit in-app.
Subsequent business rules (BR) could be:
UC01.BR01: the daily cash withdrawal amount can be set from £300 (standard limit) to £1000, with increments of £100
UC01.BR02: at cash withdrawal of amount X by User, if the sum of cash withdrawals for the day + X is inferior or equal to the available current account balance in pounds, excluding overdraft and inferior or equal to the cash withdrawal limit set, then allow withdrawal.
UC01.BR03: at cash withdrawal of amount X by User, if the sum of cash withdrawals for the day + X is superior to the available current account balance in pounds excluding overdraft, decline withdrawal and display a notification stating the reason for declining (i.e. Cash withdrawal declined due to insufficient funds on account)
UC01.BR04: at cash withdrawal of amount X by User, if the sum of cash withdrawals for the day + X is superior to the cash withdrawal limit set in pounds, but inferior to the available current account balance excluding overdraft, then decline withdrawal and display a notification stating the reason for declining (i.e. Cash withdrawal limit reached. Your remaining daily cash withdrawal allowance is £XXX )
This use case is a win-win solution:
From Starlink Bank’s perspective: overdraft is prevented (credit risk is null) and daily cash requirements cannot exceed £1000 or any inferior limit set. Most of us would not change the suggested standard limit of £300, being the limit applying today.
From Users’ perspective: any amount up to £1000 a day can be paid in cash, if cash is the only payment method accepted by the counterparty. Limiting the risk to carry cash in pocket / store cash at home over several days.
Hope the above makes sense and that I am not the only Starling User in need of a greater cash withdrawal limit.