Starling Bank Overview

Opening a Starling Bank account is quick and easy as long as you’re over 18 and a resident in the UK. In order to open a personal current account, you’ll need your smartphone and proof of ID in the form of a passport or UK driving licence.

First, you’ll need to download the Starling Bank app from the Apple App Store or Google Play Store. Once it’s downloaded, you’ll be prompted to enter your mobile number and verify it with the code sent to you. Then you’ll need to enter some personal details including your name, date of birth, email address and home address. The final step is to verify who you are, this will include recording a short selfie video and submitting a photo of your ID. Starling Bank will then carry out some quick checks at a UK Credit Reference Agency. If you’re approved, you can enjoy the many features the app has to offer instantly and you can order a new contactless Mastercard debit card via the app. This should arrive in 3-5 working days. If you want to start spending straight away, you can add your card instantly to your Apple Pay, Google Pay, Samsung Pay, Garmin Pay or Fitbit Pay before your physical card arrives.

• Instant notifications – get real-time alerts to your phone whenever money enters or leaves your account.
• Goals – a fun and visual way of saving money. Set a target amount for each goal and pay money into it whenever you want.
• Nearby payments – transfer money to nearby Starling customers without needing their account details.
• Settle up – if people owe you money, you can send them a link to pay you back, whether they’re a Starling Bank customer or not.
• Connected card – give an additional debit card to someone you trust so they can buy whatever they need. The money is capped at £200 and comes out of a dedicated space set up in the app so you’re always in control.
• Spending insights – get a monthly breakdown of your spending habits to see exactly how much you spend on groceries, holidays and transport amongst other things.

Yes, Starling Bank offers overdrafts and loans to its customers. They offer overdrafts of up to £5,000 on their current accounts. Interest is accrued daily at a rate of either 15%, 25% or 35% EAR (variable) based on a range of factors, including information from multiple credit reference agencies. It’s easy to add an overdraft to your account in the app but it’s worth bearing in mind that a Starling overdraft is a credit facility so it could affect your credit score.

You can also apply for a loan of up to £5,000 over six years. This can be done within minutes via the app. Once it’s approved, you can see and spend the money straight away. Starling loans are built for taking the pressure off bigger expenses such as a wedding, home improvements, travelling or a new car. The interest rate will be tailored to you and there’s no hidden fees on top. You also won’t be charged any additional fees if you want to pay it back early. Starling Bank’s loans are rated 5 Star by Defaqto.

Currently, Starling Bank’s loans and overdrafts are connected, meaning that if you’re approved for a loan, you’re able to borrow as much as you have left in your entire available overdraft. So for example, if you have a £4,000 overdraft with £2,000 available to spend, you can turn anything up to £2,000 into a loan. Starling Bank will just reduce your overdraft by whatever you borrow and when you’ve paid it back, they’ll bump your overdraft back up again.

You can use your Starling card in more than 190 countries. There are no fees or charges for using your card overseas, it’s also free to withdraw cash from ATMs outside the UK (although you may still be charged by the ATM provider). All card payments overseas are converted into GBP using the Mastercard rate. When using your card abroad, always choose to pay in local currency to obtain this rate.

Starling Bank is covered by the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 of your money if the bank were to go bust. Starling Bank is also regulated by the Financial Conduct Authority (FCA) and has adhered to the Contingent Reimbursement Model (CRM) code, a voluntary industry code means you’re entitled to a refund for any unauthorised payments made from your account. You’ll also be refunded if you’re tricked into sending money to scammers voluntarily, for example, someone pretending to be a part of your bank’s security team. However, this is on the bases that you haven’t given out any personal information, for example, your PIN.

Starling Bank also have several security features protecting the app and card. You can only access the app with a passcode, fingerprint recognition or face recognition. If you lose your card, you can deactivate it immediately in the app and customer services are available in the in-app chat to help you. Also, instant notifications to your device mean you’re instantly alerted to any payments you don’t recognise.