Starling Bank - another free Euro bank account

[Sam]

While I was looking for some extra info RE Revolut I've also came across a few complaints about their ethics. Lot's of people pointed to Starling Bank. I know about this company for a long time but it never did what I was after. A proper EURO Bank account.

Checked their website and found out they started rolling Euro bank accounts just a couple months ago. I will have to look at it properly and the plan is to register with them too. Not that I'm not happy with Revolut but there's advantage to have a backup solution and

Eligible deposits in Starling Bank Limited (Starling) are protected by: The Financial Services Compensation Scheme (“FSCS”).

Revolut doesn't have this protection. As well as the monthly limit of free withdraws (£200).

With Starling Bank you can withdraw up to £300 daily and that's pretty impressive even this never been an issue.

The only downside I can see right now is 0.4% fees on exchange but I guess the bank has to make Money somewhere.

Otherwise, no fees at all!

A couple more bits more related to GBP side of the account:

1. Deposit cash at Post Office branches across the UK
2. Starling Bank pays a 0.5% AER to account balances below £2,000, and 0.25% to those under £85,000.

[Sam]

The only downside I can see right now is 0.4% fees on exchange but I guess the bank has to make money somewhere.

There's also possibility to exchange, using Revolut (free exchange up to £5,000 per month) and send the Euros over to your Startling Euro bank account. It could be wort it especially if the rate using Starling is significantly higher.

Revolut use the interbank exchange rate, which is usually cheaper than the MasterCard rate offered by Starling Bank. On the other hand, Revolut do markup their exchange rates for out of market/trading hours (over the weekend).

Definitely worth checking current rates on both apps to decide which one to use for the exchange.

[Mia]

I have just opened my bank account (£) with Starling Bank. The mobile app is very easy to use.

You will need to follow a few simple steps:
1. enter your personal details
2. take a picture of your ID
3. take a video of yourself saying your name

They will run a quick credit check and that's it.

Now waiting for my debit card (MINT colour   my favourite one) to arrive

I will try to open EURO account a little bit later, will keep you posted.

[beachlife]

I`m fed up with the costs involved with Spanish banks. 

However, due to direct debit payments for water, gas, council bills, car tax, community taxes and phone/internet charges have always had to bite the bullet and use a Spanish bank.

So really interested in the Starling bank account if it can be used to pay for direct debits for bills within Spain. Do you know if the Starling account will be able to pay direct debits?

[Sam]

I`m fed up with the costs involved with Spanish banks. 

However, due to direct debit payments for water, gas, council bills, car tax, community taxes and phone/internet charges have always had to bite the bullet and use a Spanish bank.

So really interested in the Starling bank account if it can be used to pay for direct debits for bills within Spain. Do you know if the Starling account will be able to pay direct debits?

We were fed up too. That's the reason why we opted for Revolut. Starling is quite new so can't confirm but this is what I found checking their website.

Can I set up a Standing Order or Direct Debit on my euro account?

Yes, you can. Just bear in mind that payments are only made on working days, so any payment scheduled for the weekend or a Bank Holiday will leave your account the next working day.

It looks like you can do direct debits, you'll just have to contact your suppliers.

[Mia]

Got my debit card today not the best quality card.

   

I have as well opened EURO account, again very easy to open. You can move Money between your GBP and EURO accounts free of charge until end of this month (0.4% from September).

You can set up standing orders on both GBP or EURO acc, I am not sure about direct debits yet, but pretty sure it is possible and probably very easy to do.

You can as well add business account or joint account.

[Archer]

I also opened a Starling account, both gbp and euro. Started using it here but ran into a minor mishap

First, you can only use a gbp debit card in stores or restaurants. The euro card is still in development. Consequently, when you use it you are presented with the; GBP or Euro question at the checkout. Easy on some machines, as it is obvious how to make the choice. Choose euros, and Starling make the exchange. But it DOES NOT come from your euro account, yet, so you can't beat the rate by exchanging euros elsewhere (yet).

The difficulty I had was Hipodino in Gran Tarajal. Old fashioned machine and I couldn't see immediately how to change it from GBP to Euro. Maybe it's my age!

Anyone know? Or I'll have to try again and hold the queue whilst I read it all.

The difference: Letting Starling do the exchange = 1.13 approx. 
                            Letting Hipodino's bank do the exchange = 1.04

Anyone else tried yet?
And tried free cash withdrawals?

[Sam]

Starling is working on the "one card two accounts", apparently. I don't understand why not send the customer a couple of cards, one for each currency and call it a day. They would probably need an additional licence in EU, who knows.

Regarding the payments in shops, I'm asking the same question, using my Revolut card. Most of the time is the yellow button but I usually ask the cashier to choose the euro payment for me.

Not tried any withdrawal yet. Knowing how greedy the banks in Fuerteventura are, finding a free ATM will be a challenge. We've managed to withdraw some euros in Italy and France this summer, completely free of charge, so I hope there is at least a single bank in Spain, not charging arm and leg for this simple service. Not a big deal for us because we use the cards to pay almost all the time - no need for cash.

[Archer]

Thought I would give an update on my Starling (GBP debit card) experience so far.

25 Sept 2019
Purchases in store (euro value) around 1.1326 - 1.1331
Exchanges on Starling a/c to pay DD's in euros 1.1293
ATM withdrawal @ BBVA bank with €1.87 commission - €200 works out at 1.1323

BBVA ATM seemed lowest commission in Gran Tarajal @ €1.87. 
Santander wanted €5, Caixabank €2 & Cajamar more

We haven't tried Banca March.

As a comparison Transferwise are offering €1.124 on £200 right now.

Tenencia Alcadia in GT didn't say they couldn't use the Starling IBAN for my DD's, but then again that does not mean it will work on a UK bank. Proof in the tasting. Wait and see!

[Sam]

Thought I would give an update on my Starling (GBP debit card) experience so far.

25 Sept 2019
Purchases in store (euro value) around 1.1326 - 1.1331
Exchanges on Starling a/c to pay DD's in euros 1.1293
ATM withdrawal @ BBVA bank with €1.87 commission - €200 works out at 1.1323

BBVA ATM seemed lowest commission in Gran Tarajal @ €1.87. 
Santander wanted €5, Caixabank €2 & Cajamar more

We haven't tried Banca March.

As a comparison Transferwise are offering €1.124 on £200 right now.

Tenencia Alcadia in GT didn't say they couldn't use the Starling IBAN for my DD's, but then again that does not mean it will work on a UK bank. Proof in the tasting. Wait and see!

Thanks Archer. Try any BancaMarch, please. I was able to withdraw 200 euros this morning from their ATM in Caleta, using my Revolut card. Zero fees 🤑

EDIT: Just created a new thread with all (known to me) locations of Banca march ATM's.