Starling Bank launch additional secondary Current Accounts

ryan92

Starling have quietly launched secondary accounts. It's a subscription based service ; you pay £2 a month for a new account number/sort code and a seperate transaction feed. It's also linked to the card of your first account and to spend on the card, you need to switch the card on the app. 

All in all, it works quite similar to their Connected Card that they launched earlier on in the year.

jsmith9

Thanks for the info. How and in what circumstances would you use a secondary account?

ryan92

I think they are promoting it to have a bills/direct debits account seperate. Monzo for example already offer this as part of their bill pots for free. Not really an appealing offer that's for sure

Tragen

Seems like a different approach to a virtual card solution

Yellow_mango

I can't see anything about this on their website - and as a customer I have not received any communications. Do you have a link that explains more? 

colsten

https://help.starlingbank.com/hc/en-us/search?category=360001244219&category=360001244219&query=additional

Yellow_mango

colsten said:

https://help.starlingbank.com/hc/en-us/search?category=360001244219&category=360001244219&query=additional

Thanks! I guess it could be useful to separate spending and direct debits. Not particularly attractive for it to be non-interest paying and have a fee though. Think I'll stick to my current two-bank system. 

colsten

A two bank system is far preferable because it reduces the risk that you are left with no banking facilities if there is any issue with one of the banks.

Zellah

Why on earth are Starling charging for a second current account when nearly every other major bank/BS will offer a second account for free? I have a second current account with First Direct and never been charged for it and probably never will. Its comes with its own unique sort code and account number and a separate debit card as well.

If its costing Starling money to provide a second account then I would argue its costing them far more by providing free overseas transactions on their debit card, though of course not many of us will be travelling overseas at present. Weird bank.

adamp87

Zellah said:

Why on earth are Starling charging for a second current account when nearly every other major bank/BS will offer a second account for free? I have a second current account with First Direct and never been charged for it and probably never will. Its comes with its own unique sort code and account number and a separate debit card as well.

If its costing Starling money to provide a second account then I would argue its costing them far more by providing free overseas transactions on their debit card, though of course not many of us will be travelling overseas at present. Weird bank.

I mean it costs every bank in a sense for a current account, and more than 1 is an additional cost really. 

There’s been a lot of press about potentially charging of accounts. (HSBC recently).

There’s sense in having 1/2 across different banks, but having two at the same bank I can see the logic behind it.

Zellah

adamp87 said:

Zellah said:

Why on earth are Starling charging for a second current account when nearly every other major bank/BS will offer a second account for free? I have a second current account with First Direct and never been charged for it and probably never will. Its comes with its own unique sort code and account number and a separate debit card as well.

If its costing Starling money to provide a second account then I would argue its costing them far more by providing free overseas transactions on their debit card, though of course not many of us will be travelling overseas at present. Weird bank.

I mean it costs every bank in a sense for a current account, and more than 1 is an additional cost really. 

There’s been a lot of press about potentially charging of accounts. (HSBC recently).

There’s sense in having 1/2 across different banks, but having two at the same bank I can see the logic behind it.

But what makes Starling so 'special' that they MUST charge fees for a second current account whilst other banks don't (at present)?