Making high value payments shouldn't be a chore. You may be buying a car or putting down a deposit on a house. This is already an incredibly stressful time in your life. You've been waiting for this moment for a long time, saving hard and wearing out your keyboard as you research your purchase. That's why Starling is introducing a new feature that allows you to make high value payments straight from the app. You won’t need to go to a branch or fill out lots of paperwork, you can make the payment from your Starling account without fuss or fees. The way it should be.
What is a high value payment?
High value payments are anything between £25,000 and £250,000. These transactions are made via the Faster Payments Scheme, the organisation that enables mobile, internet, telephone and standing order payments to move quickly and securely from one UK bank account to another.
How do I make a high value payment?
The day before you need to make the high value payment, make sure you’ve updated to the latest version of the app and get in touch with our Customer Service team. You can do this by in-app chat, phone or email.
Once they’ve checked your identity, they’ll ask you how much the payment will be, the reason for the payment and when it needs to be paid by. The Customer Service team will then pass your request on to our Payments team, who will review it so you’ll need to make sure that you contact us on a weekday between 9am and 5pm.
If the request is approved, you’ll receive a message to confirm that your upper spending limit has been raised until the end of the next working day to allow you to make the payment, which you can do through the payments screen of the app. Simply enter the name of the recipient, sort code and account number and the Faster Payment will be made within 3 hours. After the allocated time, your limit will go back to £25,000 - you don’t need to ask us to lower it again after making the payment.
And that’s it. No paperwork, no signatures or processing fees. If you’re buying your first flat or running your own business, you’ll already have millions of forms to fill out and we don’t want to add to that. All you need to do is make a request, we’ll review it and if your request is accepted, you’ll be able to make the payment from your app the next day.