Starling Business Account Review

Starling is one of the best known fintech banks in the UK. Established in 2014, it initially offered personal accounts before venturing into business banking in 2018. You can only access Starling’s banking services online or through its mobile app, rather than in person, but it has many useful functions to help businesses manage their finances effectively.

With a free account and the option to pay for further features, Starling Bank can accommodate a range of business types and sizes. Discover more about what you can do with a Starling business account and how it compares to accounts from other providers.

Pros and cons of Starling

Like any other bank, Starling has a number of advantages and disadvantages.

Pros of Starling

• fast set-up
• it offers a free business account
• a regulated bank, which is protected by the Financial Services Compensation Scheme (FSCS)
• integrates with accounting software and other business tools
• you can categorise your business spending
• you can save towards goals
• free UK transfers and ATM withdrawals (up to a limit)
• you can deposit cheques up to £1000 for free via the app
• multi-director account access
• it offers EUR or US dollar accounts (for a fee)
• 24/7 support
• no fees from Starling for using your card abroad (although other fees may apply)
• you can switch to Starling using the Current Account Switch Service

Cons of Starling

• online-only bank, so you can’t visit a branch
• you can only deposit cash in your account through the Post Office for a fee
• you need to pay to upgrade your account to create and send invoices
• only company directors can access the account and get a debit card
• you can’t transfer money to every country

What plans does Starling offer?

Sole traders and limited companies can open a Starling business bank account.Limited liability partnerships (LLPs) are also eligible. A Starling business account is free but there are paid add-ons which offer more features.

Starling also offers two multi-currency accounts, which you can open once you have a standard business account.

These multi-currency accounts allow businesses to hold, send and receive payments in either euros or dollars, to make it easier to convert your money. If you regularly conduct business in Europe or the USA, these accounts may make it simpler and cheaper to make payments and manage your finances in the different currencies.

The Euro business account costs £2 a month and the US dollar account costs £5 a month. Only limited companies can open a US dollar account.

What features does Starling offer customers?

Starling business accounts come with a range of banking features and services, including:

• A mobile app so you can bank on-the-go.
• Mastercard debit card with a £10,000 daily spending limit.
• Multi-director access to the account. All directors who are registered on Companies House can access the business account, but not third parties – for example, your accountant or other team members.
• Freeze, unlock or cancel your card through the app.
• Free UK bank transfers (£250,000 limit per transaction).
• International transfers to 36 countries, for a fee.
• Free ATM withdrawals. Up to six withdrawals per day with a £300 daily limit.
• Deposit cash at the Post Office for a 0.7% fee (£3 minimum).
• Deposit cheques up to £1000 through the app. Cheques over £1000 can be sent and deposited via post.
• Upload and store digital receipts.
• Categorise spending.
• Schedule payments, direct debits and standing orders.
• Payment notifications and reminders.
• Saving Spaces to help you work towards saving goals, such as tax payments or a large purchase.
• Integration with accounting software programmes including Xero, QuickBooks and Free Agent.
• Integration with other third-party tools and services, such as payment platforms Zettle and SumUp.
• 24/7 support via phone, app, email
• No fees for using your card abroad (although you may face local fees and other charges).

The paid Business Toolkit account offers further services, which can help you to stay on top of your bookkeeping and tax responsibilities. For example, you can:

• Create and send custom invoices and match them to payments.
• Record and submit VAT returns through Making Tax Digital (MTD).
• Get an estimate of your tax bill for sole traders who pay via self-assessment.
• View and schedule bill payments.

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How does Starling compare to other digital banks?

The table below compares Starling to other digital banking providers.

Source: NerdWallet, November 2022

What do Starling customer reviews say?

Many customers have left positive reviews and ratings for Starling. On Trustpilot, Starling has received 4.3 stars from over 32,000 reviews.

On Google Play it has 4.6 stars from over 92,000 reviews, while on the Apple Store it has an excellent 4.9 star rating from over 371,000 reviews.

This information was correct as of 25 November 2022.

» MORE: Do I need a business bank account?

Starling conclusion

Starling is a popular and respected bank that offers a good range of services to businesses. The four-time winner of Best British Bank at the British Bank Awards from 2018 to 2021, Starling also won Best Business Banking Provider at the 2021 ceremony, which indicates the quality of its business accounts.

If you don’t mind conducting all of your business banking online and on your mobile phone, then Starling may be an option for you. Through the app, you can manage your accounts from anywhere, whether you want to transfer money, upload a photo of a receipt, or categorise your spending so you have greater visibility over your finances.

Unlike some other banks, Starling doesn’t charge for UK bank transfers and offers a good range of features with its free account, which may be sufficient for many businesses. But if you want more services to help with invoicing and bookkeeping, then you can pay to upgrade your account.

With its multi-currency accounts, Starling may also be an appealing option if you regularly need to make and receive payments from abroad.

Make sure you research Starling and compare it to other business bank accounts to find the right kind of account for your business.

» COMPARE: Business accounts

Starling Bank FAQs