And here are some other ideas we’re looking into...
Since we launched, we’ve been asked a lot of questions such as ‘are you going to be doing a joint account?’ and ‘are you going to be doing a savings account?’ or ‘can I get an account for my children?’. Our goal is to build an account that is as connected to our daily lives as our friends and family, the apps and services we use, and to our working life.
Joint accounts for a connected world
We believe there is a need for customers to manage some finances jointly, but we don’t think that the traditional joint account, separated from your personal finances, meets those needs anymore.
We want to make it possible for customers to connect their accounts to one another and create a virtual account that will allow them to better manage and contribute to their shared finances — whether that’s two partners, friends sharing a rented flat after moving to a new city, a family running their household or a circle of friends away travelling.
We’ll be looking to launch our ‘connected accounts’ towards the end of the year, so please get in touch if you would like to give us some feedback about how you effectively manage your shared finances.
Under-18s and money management
Now that we’ve made banking easy on mobile and features designed to build awareness of how you spend your money and manage it more effectively, it’s hardly surprising that we’ve had a lot of demand to make it available for under-18s.
It’s a no brainer for us. We want to provide a starter account with a set of features designed for young people to learn about managing their money with Starling, and with useful controls for adults to monitor it.
And, unlike prepaid card products that a young audience might grow out of, our account will transition to a full current account as soon as our customers turn 18, retaining all historic transaction data and insights, but shedding the parental controls.
So, that’s what we plan to work on this year.
Keep a look out for updates over the coming months on this and the interesting challenges we find ourselves tackling in the day to day running of the bank. We’ll be publishing some more blog posts, and you may even see our in-house investigative journalist doing some live interviews with the Starling team.
However, if you have more ideas or questions, why not throw them our way? It would be great to have you join us over at the Starling Community where we look forward to some inspiring conversations, feedback, and idea sharing.