What is Starling Bank? Starling Bank Review, Features

Starling Bank is a financial technology company from London, UK. It was founded in January 2014 and mainly provides a variety of financial services such as mobile banking accounts and financial management.

About Starling Bank

• Starling Bank combines the Internet with the banking industry, and continuously innovates in traditional banking services such as savings, remittances, and credit card consumption, saving users time wasted queuing at physical outlets, significantly improving service efficiency, and making online consultation and business processing possible. In addition, Starling Bank users can also remit money to friends through the APP, freely make monthly savings and budget plans, and freely exchange foreign currency during travel. Starling Bank also provides groundbreaking B2B banking and payment services.
• After its founding in 2014, Starling Bank obtained a banking license in England in July 2016 and launched its first mobile personal current account in May 2017, available as an application for iOS and Android phones, followed by the UK's first digital business bank account in March 2018. Its built-in Starling Market place also provides customers with access to selected third-party financial programs.

Starling Bank's main business

1. Overdrafts

Starling aims to improve banking and provide a better way to get overdrafts. Through the Starling app, users can manage their money and keep track of their overdrafts.

2. Personal Loans

Users can borrow money in two ways: spread the cost of goods after purchase or apply for a loan in advance, borrowing between £500 and £5,000. Either way, it takes no more than five minutes and is done in the app with no paperwork. In addition, the interest rate users receive is tailored and is always a fair rate below their overdraft, with no hidden fees.

3. International Money Transfer

The service enables customers to send money to 38 countries in 20 currencies, including euros, dollars, rands, Thai bahts and zlotys, without leaving their banking app or going through additional transfer services.

4. Financial product integration (Marketplace)

Under the guidance of the open banking policy, Starling Bank has set up the Marketplace function to bring together various financial products, from well-known enterprise applications such as Direct Line to cutting-edge fintech companies, to help users better manage their funds. From mortgage Habito, travel insurance Kasko, to digital pension PensioneBee, and smart investment advisor Wealthsimple, Starling has selected a series of third-party products that can be integrated with users' applications, understand users' financial status from multiple angles, and provide users with a comprehensive way to manage their funds.