Starling Bank was the brainchild of Anne Boden, a former COO for Allied Irish Banks, who believed that the banking system needed changing from its roots. So, in 2014 she gave up her job and set about setting up her own. The initial capital of £48M was raised from quant investor Harald McPike, and after partnering with Transferwise, the developer platform went live in April 2017.
Starling Bank markets itself as being forward-thinking and innovative, providing ‘an incredible app, purpose-built for those who happily manage their lives on their phone’, to quote Boden herself. With its focus firmly on its customers, and Starling’s ability to constantly and rapidly update the facilities available to those customers, it certainly feels like Starling is something different to the conventional banking of yesteryear.
Banking group: Starling Bank Ltd
7-day account switch guarantee: Yes
Credit cards: No
Savings accounts: No
Digital banking: Starling is only available as a mobile app (iOS/Android)
Business banking: Yes
FSCS deposit protection: Yes, up to £85,000 per accountholder
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