At Starling, we don’t want to hide things away in smallprint or speak in jargon. We want any changes we make to be crystal clear so that you know where you stand. Here, we run through questions you might have after reading our latest Terms and Conditions update, made in September 2020.
We’re working hard at Starling to bring added value to our customers with all of our new features and services.
Do I have to start paying monthly fees for my Starling personal, joint, business or euro account?
Personal and Joint accounts
Your first personal and your first joint account remain free. We often receive requests from customers who want to have an additional personal and/or joint account, so we’re now offering this at £2 per additional account per month. You’ll have the option to open these additional accounts soon - stay tuned for updates on our website and social media channels.
Business accounts for sole traders or limited companies remain free. We’re excited to be launching a new payments subscription for business, which is optional, costing £10 per month. This service will enable business customers to request higher daily payment limits and make multiple payments in one go through a bulk payments feature.
Your personal euro account remains free and your business euro account remains at £2 per month. From 4th November 2020, all euro accounts holding more than €50,000 will be charged a negative interest rate of -0.5% AER on deposits over this value. For example, if you hold €51,000 in your Staring euro account for a full year, the charge would come to €5.00 per year. We are charging this interest rate to bring us in line with the negative interest rates across the Eurozone. This change will impact less than 1% of Starling euro account holders. The -0.5% AER charge doesn’t apply to GBP accounts.
I’ve already had a replacement card this year, will I have to pay for my next card?
Starting on 4th November 2020, you’ll be able to order one free replacement card per year. Additional replacement cards will cost £5, a charge we’ll always tell you about before it’s made. Of course, if your Starling card has expired, we won’t charge you for a new one.
I already have a Connected card, do I have to start paying a monthly fee?
All Starling customers who already have a Connected card will be able to keep using it for free. When the card expires, we’ll send you a new one, which you can keep using for free.
We’ll soon be launching a new and improved Connected card which will be charged £2 per card per month and will include extra features - more details coming soon.
I need to make a CHAPS payment, will I need to pay?
From 4th November, there will be a £20 fee per payment sent through CHAPS, a payment system that enables certain high value payments in GBP. For example, if you’re putting down a deposit on a house or flat, this payment could be processed through CHAPS. The charge applies to CHAPS payments made from all Starling GBP accounts.
You can continue to send payments through Faster Payments for free. You can send up to £250,000 per bank transfer and a total of £500,000 a day with no fees. Transfers up to £25,000 can be made in app. For anything over that, you’ll need to contact Customer Service.
What are my bank transfer limits?
All Starling customers can make a domestic bank transfer of up to £25,000 per day and an international bank transfer of up to £10,000 per day. If you have a euro and/or USD business account your limits are set at €25,000 and $25,000. If you need to make a high-value bank transfer over the euro limit, get in touch with Customer Service and they can arrange it for you. At this time, the USD business account limit cannot be raised.
For business customers, you’ll only be able to request to increase this bank transfer limit once per month, starting on 4th November 2020. If you need to increase your limit more than once per month you can sign up to our new payments subscription - more details coming soon.
Will any of these new fees or charges push me into an unarranged overdraft?
If you don’t have enough money in your Starling account to cover a subscription charge or one-off fee, you could be pushed you into an unarranged overdraft. But don’t worry, if that happens, you won’t incur any further charges or interest on the overdrawn amount. We’ll simply send you a notification and ask you to top up your account.
I saw that Starling plans to launch a Space with a debit card for children, when will this be available?
Starling Kite is a new product designed for young people aged 6 to 16. Each card will cost £2 per month, set up through a Space in the Starling app.
Keep your eyes peeled for launch day - we’ll be sharing more soon on our website and social media channels.