Starling Business account - shocking!

amjspec

STARLING - Shocking!

I am a car specialist, (car dealer), working from home - Vat registered, dvla registered, £200k turnover - I applied for a business account through Starling, but they said I needed a private account first - so I opened the private account and then successfully opened a business account. 48hrs later they email me to say that my business is 'outside of their current risk appetite'  - I wasn't asking for an overdraft so what was the risk? My view is that they realised my business wouldn't generate enough income under their bank charge rates, (ie. low number of large deposit/transactions). To rub salt into the wound, I even received my new business debit card this morning which I guess will need to be cut up!
I wrote back to them twice yesterday - still waiting for a response.
If you are thinking of starting a business account with Starling, think carefully - there must be thousands of businesses like mine.
Why don't they introduce a higher charge scheme for business with fewer transactions?
I think that there service is shocking - why approve and open an account - and let me pay money into it and send me a debit card, only to change their mind? They haven't changed their mind on the private account they got me to open - I think I will change my mind though!
So much for their strapline 'changing banking for good' - umm!

JJ_Egan

This is basically a Consumer forum .

Emmia

They're under no obligation to offer you a business account - and presumably as you're already running this business you have banking facilities elsewhere? 

[Deleted User]

amjspec said:

I think that there service is shocking - why approve and open an account - and let me pay money into it and send me a debit card, only to change their mind? They haven't changed their mind on the private account they got me to open - I think I will change my mind though!

They are  entitled to "change their mind", just as you are. 

Face it, they just don't want you as a (business) customer. 

giraffe69

It may be reasonable for Starling to a. set the condition of a private account first and b. to turn down the business account application but to take the application, approve it, send a debit card and then change their minds does seem incompetent/unreasonable/capricious* *delete as appropirate.

[Deleted User]

giraffe69 said:to take the application, approve it, send a debit card and then change their minds does seem incompetent/unreasonable/capricious

On the other hand, information may have simply come to light which the bank was not aware of prior to opening the account. Obviously, this won't be something the Bank will wish to discuss with the customer and so won't be anything he can challenge..

Inquisitive100

Starling have now belatedly posted on their website that due to demand they have suspended taking new sole trader business account applications until 1.6.20. A pity they could not have said this as soon as the decision was made. It would have saved a lot of time and trouble for those of use that were misled by their website into opening a personal account in order to be able to get a business account.In response to my complaint they have responded suggesting that I keep the personal account open for use fo  holidays savings! Very poor taste in the circumstances.

[Deleted User]

Inquisitive100 said:In response to my complaint they have responded suggesting that I keep the personal account open for use fo  holidays savings! Very poor taste in the circumstances.

What "circumstances"? I'm certain you intend to take a holiday at some stage in the future? 

Regardless, as you have clearly lost trust in this financial institution, why don't you just close the personal account and be done with them?

coachman12

JJ_Egan said:

This is basically a Consumer forum .

cymruchris

Shocking....

dld2s

coachman12 said:

JJ_Egan said:

This is basically a Consumer forum .

    

  Maybe, but surely if folk can be helped/advised a little it doesn't matter whether consumer or business? and also as a side obsevation, it doesn't say consumer vents only