Starling Banking Services supports a wide range of payment firms, from start-ups to established businesses, covering diverse business types in varied industries. We have a clear risk criteria that we use to assess all our potential relationships.
Who we work with
We only work with financial institutions who are domiciled, licensed, registered or regulated in the UK. We will work with clients who are in the process of getting regulated in the UK but we don’t currently offer an agent model for unregulated businesses.
We facilitate payments for a wide range of industries but we can’t support payments relating to the following activities, and also will not onboard clients who have a significant business in these areas.
- Gambling or betting (including the establishment or operation of lotteries or competitions).
- Pornography, adult entertainment, dating or escort services.
- Defence or weapons (including manufacturing and/or distribution of weapons, explosives or armaments).
- Cryptocurrencies (e.g. Bitcoin) or virtual currencies.
- Money Transmission Services where there is significant exposure to High Risk Third Countries.
- Wholesalers to cash based money remitters.
- Activities undertaken by unregistered or unregulated charities.
- Political parties.
We will also consider the Bank’s social and ethical positions, for instance the Bank’s Carbon Reduction Plan and Ethics Statement, as part of our new client application process.
We will perform regulatory and adverse media checks and may decide not to onboard a client with significant recent issues.