At Starling, we’re open about the fact that we’re trying to build the best bank in the world! We want to fundamentally change money management, from how you control your spending to how you pay friends back or save for the things that are really important to you.

But while we’re sure of our mission – and want to show you exactly how we’re bringing it to life – we understand that we’re not the only bank in the world! Money is such an important part of all of our lives, and choosing the right bank account is worth taking some time over – but finding the right one can take hours of painstaking research. Who has time for that?

And so because transparency is a big deal for us here at Starling, we’ve gathered all the options together for you using comparative bank account information from Defaqto, so you can make an informed choice and a decision based on the real, hard facts.

Use the drop down below to choose which bank accounts you’d like to compare to the Starling personal current account.

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Feature

Starling Bank

Account

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Many current accounts insist that their customers deposit a minimum amount of money into it each month (typically their principal wage), otherwise they must pay a default fee. Our account does not have any minimum monthly deposit requirement, and no default fee.

Minimum monthly deposit

£0
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Some bank accounts charge their customers a monthly fee for having the account. The Starling Bank account does not have any monthly charge.

Monthly charge

£0
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The account must offer the customer the ability to use a mobile phone app to carry out day to day banking activities. The Starling account is only available on mobile devices.

Mobile phone app

yes
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The mobile app must offer at least 2 out of 3 different app-based features for protecting your account. The Starling app allows all three – limiting daily ATM withdrawals, limiting online transactions to certain times or limits, and locking/unlocking your debit card.

Number of mobile app features for protecting your account

3

Interest

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Many current accounts don’t pay interest on any credit balance you have in your account. Our account pays interest on your balances: 0.5% AER on balances up to £2,000 and 0.25% on balances above £2,000 up to £85,000.

Gross AER - £1,000

0.50%
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Interest paid on your credit balances is added each month.

Interest payment frequency

monthly

Overdraft

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Overdrafts with Starling are approved up to a certain limit from the moment you open your account, which you can accept. Within the app you can set the amount of overdraft you need within that limit by adjusting a slider within the app.

Overdraft facility

yes
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A feature of some current accounts is called ‘Control’, which stops you going overdrawn by more than any arranged overdraft limit. The Starling Bank account prevents unarranged overdraft spending, protecting you from any unexpected bank charges. In the rare instances where you do go into an unarranged overdraft by accident we’ll only ever charge you the standard rate of interest.

Control feature

standard
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With the Starling Bank account if you go into an arranged overdraft, interest is payable, but no other charges are applicable. Some providers charge daily or monthly fees when you go into an arranged overdraft.

Arranged overdraft charge

no charge
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With our account if you go overdrawn you only pay interest for the amount you borrow, while you are overdrawn. Interest for overdrafts is charged at 15.0% AER. Interest is accrued daily, and charged on the 15th of the following month.

Arranged overdraft rate (%)

15.00%
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With the Starling Bank account if you go into an unarranged overdraft any charges that you pay are capped, so that you will never pay more than £2 in additional charges that month.

Unarranged overdraft monthly cap (£)

£2
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The total cost of having an arranged overdraft of £250 for 5 days with Starling Bank would be 48p.

Overdraft cost (£250 for 5 days)

£0.48
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The total cost of having an arranged overdraft of £500 for 10 days with Starling Bank would be £1.92

Overdraft cost (£500 for 10 days)

£1.92
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The total cost of an arranged overdraft of £1,000 for 30 days with Starling Bank would be £11.55

Overdraft cost (£1,000 for 30 days)

£11.55

Travel

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With the Starling Bank account you do not pay any fees to use your debit card for purchases while in Europe. If you pay in the local currency we will convert that cost to Sterling using Mastercard’s globally accepted exchange rate.

Debit EU £100 cost

£0
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With the Starling Bank account you do not pay any fees to withdraw foreign currency from a cash machine while in Europe. We will convert the cost of any money you withdraw using Mastercard’s globally accepted exchange rate. Just like in the UK though some ATM providers might charge you a fee for withdrawing cash from their machines.

ATM EU £100 cost

£0
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With the Starling Bank account you do not pay any fees to use your debit card for purchases worldwide outside of Europe. If you pay in the local currency we will convert that cost to Sterling using Mastercard’s globally accepted exchange rate.

Debit world £100 cost

£0
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With the Starling Bank account you do not pay any fees to withdraw foreign currency from a cash machine while anywhere in the world outside Europe. We will convert the cost of any money you withdraw using Mastercard’s globally accepted exchange rate. Just like in the UK though some ATM providers might charge you a fee for withdrawing cash from their machines.

ATM world £100 cost

£0

Payments

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The ability to use mobile phone payment methods is important to many people. With our account you can use Apple Pay, Google Pay, and Samsung Pay.

Mobile payment types

Google Pay, Apple Pay, Samsung Pay
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If you want to send money to someone in the UK you can use our app to make an immediate domestic payment through the UK's Faster Payments network of up to £25,000 per transaction. Recipients typically receive the funds almost immediately, although they can sometimes take up to two hours.

Faster payments app limit

£25,000
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The Starling Bank account provides a contactless Mastercard debit card, which you can use to pay contactless for spends of up to £30 at a time.

Contactless payments

yes
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Cheque imaging is a system being rolled out across UK banks that sends images of cheques to the cheque clearing service, rather than the paper cheques. This can reduce cheque clearing time to 2 days. Some banks have restrictions of cheque imaging at present, such as not using it in all branches. Starling Bank doesn’t currently use the cheque imaging service on its app. Cheques sent to us will typically clear up to 5 days after we receive them.

App cheque imaging

no

Data correct as of 2 October 2019.

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