Starling Bank to introduce fee for current account holders who deposit more than £1,000 a year

Former_MSE_Sophie

Starling Bank current account holders who want to deposit more than £1,000 in cash in any one calendar year will be charged to do so via the Post Office from March 2022.

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Starling Bank to introduce fee for current account holders who deposit more than £1,000 a year via the Post Office

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Lightning360

Things like this won't help with encouraging people to use Starling for everything. So many people have Starling plus a hugh street bank to avoid these kinds of fees.

Daliah

No impact on people who don't pay in large amounts of cash. I reckon that would be most of their customers. 

cx6

Starling Bank to introduce fee for current account holders who deposit more than £1,000 a year

the title of this thread is factually incorrect.

oldagetraveller1

As previous post, typical misleading clickbait bold headline.

penners324

Suspect the number of people who go over this limit will be miniscule. 
And anyone who does so regularly are very likely to be involved in nefarious activities.

And if anyone is getting paid in cash needs to look at their empty....

NBLondon

penners324 said:

Suspect the number of people who go over this limit will be miniscule. 
And anyone who does so regularly are very likely to be involved in nefarious activities.

And if anyone is getting paid in cash needs to look at their empty....

Small independent traders (markets, craft fairs etc.) might still get cash payments and £1000 a year isn't a lot for them.

fenwick458

I have a business starling and sometimes bank cash at the post office, this extra fee is just going to make me not bank it anymore...

Daliah

NBLondon said:

penners324 said:

Suspect the number of people who go over this limit will be miniscule. 
And anyone who does so regularly are very likely to be involved in nefarious activities.

And if anyone is getting paid in cash needs to look at their empty....

Small independent traders (markets, craft fairs etc.) might still get cash payments and £1000 a year isn't a lot for them.

How many of them are there, and more importantly, how many of them don't have something like Sumup these days? Most of their customers will increasingly want to pay contactless, particularly in Covid times. In any case, though, if the cash charges impact their business unacceptably, they can just add a couple of pence to each cash payment.

born_again

Personal accounts only.

So not many will be putting in 1K a year cash... Nice way round AML rules.

wiseonesomeofthetime

If you read the article, I am sure it details which accounts it applies to there 🤷‍♂️