Business Account Interest


#1

Hi All,

I was a bit surprised today to find out that Starling don’t pay any Interest on their Business Bank accounts.

This is my mistake for not reading the Terms and Conditions properly. I made an assumption; so that’s a good lesson for me. :grin:

Are others aware that this is the case?

I also wanted to flag it, as I think the footer block on the Business Account Statements is somewhat misleading.

Perhaps there’s an opportunity here for Starling to improve the statement format to make it more explicit?

I’d be interested as to what others think.


#2

I was aware of this after reading the initial post about the business account pricing but, I was also expecting it as this has usually been the case with my business accounts…

The only difference being that, along with having no interest I have to pay a monthly fee for just having the account! With Starling I don’t have that :slight_smile:


#3

@P110 - I agree, there is definitely a trade off between fee-free Business Banking vs Credit Balance Interest.

I still think there’s a need to change the wording on the Statements though, as I’d say it’s a little, well, misleading:

But, I’m pleased to say that the Customer Service folks have taken this feedback. Again, it’s early days for Business Banking @ Starling, so plenty of opportunity to tweak these little bits.

Now I just need to find a Business savings account… :joy:


#4

This looks like the rates offered to personal customers.


#5

Yes, looks like Starling have forgotten to change the business account statement footer :open_mouth:


#6

I reported this to @StarlingSupport a month ago…