Starling Bank prepares business account upgrade

Monday 17 September 2018 09:50 CET | News

UK-based digital bank Starling has announced its plans to allow businesses to switch to Starling using the Current Account Switch Service.

The bank is attempting to open its business accounts – launched in March 2018 – to a wider range of businesses. Customers can run more than one business off Starling, using multiple accounts. Similarly, the company will soon launch multi-director accounts, meaning that companies with more than one director can also make use of the service.

Those holding a business account with Starling are not currently able to open a personal account. The bank is also planning to change this. Starling is also working to allow businesses to join the bank using the Current Account Switch Service (CASS) – which automatically transfers all direct debits, standing orders and balances between banks within 7 days. The start-up is currently testing CASS for its business service and has advised customers to ‘stay tuned’. Consumers can already use CASS to switch to the bank.

Recent numbers from Bacs showed Halifax as the biggest winner of new accounts using CASS, but a source from Starling pointed out that it led the way in terms of proportionate gains (i.e. number of new customers in relation to its existing customer base).

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Keywords: Starling Bank, digital bank, business account, Current Account Switch Service, multi-director accounts, standing order, UK
Countries: World