Cashback Offer on Direct Debits


#1

Hi, I’m new to Starling Bank and loving everything so far, only 1 gap that my existing Santander 123 account provides is the incentive around Direct Debits.

1%, 2%, 3% cashback into my account depending on category of Direct Debit is a great benefit to have. Sometimes I have achieved £20+ a month.

If there’s anything planned to offer some benefits like this, I’m all in with Starling :+1:t2:


Cash back on household bills?
#2

The message I seem to have gotten from Starling is that it’s going to be a no thrills bank account (unless you count notifications as a thrill) and anything cashback/incentive related would be offered by third parties through the market place (like Tail currently provide).


#3

Santander also charge £5 a month to have the account. I imagine they’ll be operating a ‘win some, lose some’ policy where the customers who don’t earn more than £5 cashback a month pay for the customers who do.

Not sure that’s something Starling should be concentrating on.


#4

@Chalky I agree that it’s probably not the main focus for Starling and can see everything else that is happening with the Starling account can offset some of that.
Even £15 (After a £5 fee) a month is something difficult to lose when it’s ultimately free money for DD’s just ticking over in the background.


#5

I wouldn’t necessarily call Starling ‘no thrills’, the experience I’ve had with them so far far exceeds any account I’ve previously had.

I live in apps, I have more than 300 apps on my iPhone and in a weird way it’s a bit of a thrill having an entire bank sitting behind a little purple icon!!

Thanks @Kumnaa, I have setup Tail and also Moneybox in the just less than a month I have been using starling.

Tail is a good idea, would be great to see some bigger brands get behind Tail as at the moment it’s a little niche and also very London based (I work in London so that works for me!!).


#6

That’s fair enough but as someone who isn’t using Starling for all my Direct Debits I, and I’m sure other customers, don’t want to pay £5 a month to finance someone else’s ‘free’ £15 a month.


#7

@Chalky agree with you there, I’m guessing that’s why most banks have a ‘free’ bank account and ‘monthly fee’ accounts.

I like that the Starling account is free, if you had to pay for the Starling account I’m 100% sure it would not be as successful as it has been so far.

I’m trying to work out if moving to the ultra modern Starling App-Account can really replace the legacy benefit I get from my Santander account.

From everything I’ve seen, Starling wins hands down in every department except this one point.

I actually like Starling far better than Santander and will ultimately make the switch and close my legacy account over the next few weeks.

The reason I asked the question is I see this as the only part of the Starling account that just sits in the background without any modern spin on it.

I can see where a company sitting in the Marketplace using an API to offer an incentive around DD’s can work, I just can’t see anything today and just asking if this is a focus at all.

Not sure who can do this but let’s say I have Sky for TV, British Gas for fuel and AXA for my car insurance all paid for on a monthly DD. I’m sure that through some compare website or even direct with a competitor could offer an incentive to change provider and pay by DD.

Just throwing it out there, either way, Starling win, I’m sold on the modern app-only banking :+1:t2:


#8

I have 14 DDs with Starling but I still don’t think cashback is a good idea.

Starling doesn’t need to bribe people to switch. The Starling offering, even in beta, is light years ahead of the legacy banks. They don’t need to offer incentives.

It would take a lot for a legacy bank to tempt me away from Starling. They would need to offer more than a few percent in cashback, a lot more in fact.

Santander clearly know their product wouldn’t sell without the cashback.

Just my view. :slight_smile:


#9

Good. You won’t regret it! :wink:


#10

Once Starling work out something to replace joint accounts, I’ll be right there with you! I definitely like the idea of the virtual ‘pot’ that can be shared amongst different users idea that’s been floating around!


#11

Agree with all the above especially @Ben and I am not bothered about cash bank offering from Starling. However that doesn’t mean I am not interested in cash back offers in api marketplace. I have signed up to Tali so when I do visit London I can use it.


#12

I have got 10 direct debits with Starling, and I have moved away from my old legacy bank for good, I don’t think Starling needs to bribe customers with money incentives, they offer a pretty decent and FAST service and that’s why I’m staying put. They are way ahead of the game of all the legacy banks and the fact they listen to us the customers is a massive bonus! They are truely a bank that cares for their customers and not a typical money grabbing one :point_up:️ I :heart:️ Starling, enough said


#13

i have seen that Tail cashback is open to IOS users atm. But are there any plans to have a similar service to santander’s 123 Lite current account on android? So we can get some cashback on our household bills :smiley:


#14

Tail is also available on android - I have it on my phone. Obviously doesn’t do cashback on bills though


#15

what types of cashback? just general shopping in tesco ect?


#16

No big chains like tesco. There’s a number of mostly takeaway food places in London that you get cashback at.


#17

Because London is the only place that matters


#18

Agreed - the Marketplace offering remains too “ London-Centric “.


#19

You are right. Pretty very London centric which is a shame. Really hope things expand across the rest of GB in 2018


#20

I’m sure it will change, just give it time.