Any news on Ltd Co support?


#1

Anyone from Starling care to comment on the rollout plans this year? Have any business accounts started in testing yet? I’m specifically interested in ltd support and don’t need much, just a normal starling account which could be held in the name of a business would be enough.


#2

So far here’s the latest info we’ve been able to scrape together… maybe we might be able to get some more news out of @sarah.guha ??

Would be nice if they were a little bit more transparent on progress.


#3

Hi All

I’m Jason and I’ve recently joined Starling to look after our upcoming business accounts and some of the great stuff we are going to do for business customers this year.

I can’t share any detailed news on our business rollout plans yet. However, I should have some news for all of you in the next couple of weeks.

Thanks for staying patient.


#4

That is good to hear! Will it be in the forum or blog?

Hopefully Sarah’s “hopes” are close to the plan and we might get something in the first half of the year for Ltd co’s, until then, we’re not really getting “business” accounts at all.


#5

It’ll likely be on both the blog and the forum


#6

Don’t suppose we’d be able to get an update? I understand that there’s a lot to be worked out and that these things take time, just wondered :slight_smile:


#7

Of course. We’re still on track to launch before the end of the financial year and are just about to kick off our in-house testing.

We’re also working with our other industry partners (the regulator, BACS and scheme debit) as there are different requirements for business versus consumer that we need to make sure are addressed.

Reach out if you have any questions…


#8

that’s fantastic news, I have been wanting to switch my LTD business account from HSBC for a few months now, but have been holding off in hope of Starling launching before April.

Is there any more info on features, prices, tiers, etc. or can we only expect this closer to launch?


#9

We’ll hold off sharing the features and pricing until we do the official press release for launch. The PR will be posted here the same day, so you don’t miss out on the info.


Business banking
Starling Business Current Account Pricing
#10

Lets hope the charges are enticing rather than the standard fees and charges that all major banks charge. The best that was, was Alliance and Leicester which was free banking for small business, since Santander took them over they still exist for customers who have come over but are not currently available to new customers. We currently pay nothing in monthly fees for any of our business accounts we hold with Santander.

Some useful information for someone at Starling…

https://www.santander.co.uk/csdlvlr/BlobServer?blobtable=MungoBlobs&blobkey=id&blobcol=urldata&blobheader=application%2Fpdf&blobheadervalue1=inline%3Bfilename%3Ddo-ec-247+Business+Everyday+Current+Account+KFD.pdf&blobwhere=1314024595087&blobheadername1=Content-Disposition


#11

Any news on Ltd company support?


#12

It has already been said that they will support sole Director Ltd companies from launch.

They will undoubtedly add support for multi Director companies at a later date.


#13

Sources:


#14

I hadn’t noticed the fact that they’re unlikely to make multi-director before launch… that’s pushed me back a bit.

@jasonwilkinsonbrown would we be talking (very roughly, off the top of your head without holding you to any deadlines) a couple of weeks, a couple of months or a couple of quarters for multi-director support if it didn’t make it into the initial launch. And, if it didn’t, having a quick read of the agreement it seems like we might be able to have a majority director on the account without multi-director support even if other directors did exist, would that be possible?


#15

Hey @P110. Give me a week or so to get back to you with a definitive answer as we’re just finalising everything for the community event next week.


#16

Morning Jason, hope the event went well yesterday, just a friendly reminder of my question above :slight_smile:


#17

Thanks for the friendly reminder @P110.

So the eligibility rules for our first release is that you need to have a Ltd company registered at Companies House and be the only person listed by them as the significant person of control.

We should be able to support companies with multiple people of significant control worst case in the next 6 months.


#18

Ah! Right, so, if we have 3 directors but one PSC we should be good to go? Keeping an eye on the play store, looking forward to release!


#19

That’s correct. Hopefully you qualify…


#20

So no sole traders at launch?! I thought we were the easy ones! Slightly gutted now.
Most micro businesses are going to be sole traders without a ltd company.