We were thrilled on Wednesday to be joined on our live broadcast by Oliver Krishnan of Starling Bank who shared with us some insights on Starling Bank and how they are changing the game for SME banking.
Founded back in 2014 bay Anne Boden MBE who identified that technology could really revolutionise the way that ordinary people do their banking. Since then, Starling have grown to become one of the most highly recognisable names in banking and continues to grow at pace to serve the needs of individuals and business owners alike. With the recent launch of USD accounts and the business toolkit, Starling have proven themselves again and again to be a serious ‘challenger bank’ to those that we have come to find on our high streets.
What Makes Starling Bank Different?
As a partner of Starling Bank, Valued have seen first hand (we have also moved our banking to Starling) why Starling has become the default bank of choice for so many small business owners and their businesses including Sole Traders and Limited Companies. Firstly, as a ‘mobile-only’ bank Starling has made the process of applying super simple – you can literally have your application completed within minutes from directly within the app once you’ve downloaded from the Google Play store or via the App Store on Apple.
Secondly, you pay no fees for having either a Sole Trader or Business Account with Starling, you can deposit cash at post offices (subject to a small charge) and cheques can be sent FREEPOST to Starling Bank or if the value is not greater than £500 then you can scan the cheque from within the app itself.
One of the key features that we love at Valued is the direct integration it provides to Xero so that your bank transactions automatically pull through meaning that you spend less time worrying about giving your bank statement information to your accountant and can focus on your business cashflow – and we know there are far more important things that you want to spend your time on.
As Starling continue to grow in popularity we have seen a large volume of our own clients applying for accounts and as many will know Starling had to suspend applications for Sole Trader accounts for a short while, but during the broadcast, Oliver confirmed that applications for Sole Trader Accounts were open again from Friday 10th July 2020. We know this will be welcomed by many of our clients, but also by the wider business community.
Should you wish to apply for a bank account with Starling you can do so by clicking on the button below.
We hope that you enjoy the session with Starling Bank, we look forward to bringing you more insights from the Partners that we work with here at Valued.