Starling Business Current Account Pricing


#1

Hello,

I’m pleased to say that we’ve now published the pricing for our upcoming Starling Business Current Account on our website.

I think what we’ve finished on is market leading compared to our fintech and traditional competitors. The highlight being that if you are a micro-enterprise i.e you have less than 10 employees and a turnover of less than £1.7m, Starling won’t charge you any monthly fee to bank with us. Likewise, we won’t charge you any fees for making transfers, payments or ATM withdrawals. I don’t yet know of any other business bank that offers these low prices.

If your business is larger than a micro-enterprise then I’m pleased to say you will also benefit from the same zero fees above- this is until we introduce our fee structure for larger businesses later this year. The account costs will be competitive and we’ll give plenty of notice before they go live.

For transparency, there are some features which the business account won’t support at launch (mainly due to the cost to us of providing them). However, once we’re live we’ll introduce them with a transparent fee structure over the coming months:

Settle Up & Debit Card Account Top Up- The cost to us for offering these is that we have to pay a % cost of each transaction made. These costs are absorbable for personal accounts with lower volumes but sadly won’t be for businesses where we expect the average transaction value to be significantly more. We think Settle Up will be a fantastic feature for services like Personal Trainers or Window Cleaners who might want to offer their customers the ability to pay for services up front or in bulk, so we are focused on bringing these features to our business customers.

Happy to answer any questions or take any feedback you may have. You can view the exact details here

Thanks,
Jason


Starling for Business - suggest a feature
#2

Looks great. Thank you for the update


#3

That is a very competitive offering. I suspect Starling Business will do well.

Do you plan to offer CASS? Payment redirection will be vital to businesses.


#4

Hi @Ben. Yes, we plan to support CASS. Not on for the 1st release but definitely a priority,


#5

Will there be a separate app?


#6

No, it will be the same app @Joe_Merriman


#7

Nice - this seem really great, I’m sure my dads business will be signing up for this


#8

This looks brilliant. As a low value sole trader, I was hoping for something more competitive than NatWest, but I didn’t expect free!

Looking forward to seeing the implementation and how it will work alongside my personal account, but I’m so far very, very, very tempted.


#9

This feels well-crafted, a very attractive proposition and again, great comms. Well done, team.


#10

This looks like a really interesting proposition.


#11

Hi, this looks fantastic so far, so thank you for that.
Would there be a way to pay in cash and cheques? And is there any pricing known for these actions yet?
Thanks


#12

ICS (the image clearing system) would obviously be a big plus over having to deposit at a Post Office.


#13

Is this released yet as I was waiting for the business app before I switched everything over to starling I’m fed up with my bank


#14

Hi @tony_reader the account will be available by the end of the financial year. Just doing some closed testing.


#15

Hi @Andrea. If you are a business that needs to do regular cash or cheque deposits we might not be the option for you at launch as we’ll follow our existing processes for personal account customers.

Once the Post Office project goes live (which will be in the 1st half of this year) we’ll offer a better solution for cash and cheque deposits but the cost for this is still a work in progress as my focus is getting the business account live.


#16

How will this work within the same app if you are already a personal account holder? Will there be 2 sections and 2 pulses, or some sort of account switching feature? Great news though for sole traders.


#17

Hi @R4mz we’re looking at a switcher.


#18

I registered as a sole trader earlier today for my new business, and then saw this after registering interest at Coconut.

Needless to say, my interest in Coconut has now vanished. Starling all the way. :sunglasses:


#19

@jasonwilkinsonbrown If you have two (or more) businesses, will you be able to have 2 business accounts? I have my own Limited Company with just 2 people, and looking into a new Limited Company with another partner. Would like both accounts to be with Starling along with my personal account.

Is this possible at launch, further down the line, never?


#20

@solster definitely in the plan. Can’t commit to it making launch.