Starling removing interest on Current accounts

Sky_Dragon

Bit of a blow in my messages today. I'd just set one up to receive my pension payments. 

From their help page:

"Upcoming interest rate changes 

We’re removing the interest rate from our personal and joint current accounts on 10 February 2025. If you have an account with us, you can carry on earning interest on balances up to £5,000 until February 2025. We’ll send existing Starling customers more information about this interest rate change."

penners324

They are about to release an easy access saver space paying 4%

penners324

I'm a customer of Starling and haven't yet received that notification 

400ixl

They are launching a savings account which pays 4% with no withdrawal limits.

texasp8

I got the same notification on the app this morning. No sign of being able to open this savings account yet.

pennyfarthing66

Just a head's up for anyone who has a personal current account (currently paying 3.25% variable) with Starling Bank.

They recently advertised a new easy access saver, unlimited withdrawals, no penalties, paying 4% coming soon... when I saw it I thought 'I bet they're going to withdraw paying interest on their current account'.... 

and sure enough, in the small print way down the page it states: 

"We’re removing the interest rate from our personal and joint current accounts on 10 February 2025. If you have an account with us, you can carry on earning interest on balances up to £5,000 until 10 February 2025. We’ll send existing Starling customers more information about this interest rate change."

Okay so the interest rate is slightly higher to begin with, but with BOE rates heading downwards it probably won't stay at 4% for long. Talk about hook you in, then give with one hand and take away with the other....

MSE_ForumTeam5

We've merged @pennyfarthing66's post into this thread

clivep

I received a notification of a message (presumably about the changes).

Tried to log in to read it but was told I needed to update the app first.

Latest app is not supported by the Android version on my phone.

Hence no longer any access to the funds in my account.

Account is app only so no access from PC.

Decided best way to gain access to my balance was to do a CASS switch to one of my other current a/cs.

eskbanker

clivep said:

Latest app is not supported by the Android version on my phone.

Out of curiosity, what version do you have, and are they still operating in accordance with their published policy?

• Your Android device must be running Android version 8.0 or newer. But we still currently support Android 7.0 for existing customers. 

https://help.starlingbank.com/joint/topics/setting-up-an-account/what-devices-can-i-use-the-starling-bank-app-on/

clivep

eskbanker said:

clivep said:

Latest app is not supported by the Android version on my phone.

Out of curiosity, what version do you have, and are they still operating in accordance with their published policy?

• Your Android device must be running Android version 8.0 or newer. But we still currently support Android 7.0 for existing customers. 

https://help.starlingbank.com/joint/topics/setting-up-an-account/what-devices-can-i-use-the-starling-bank-app-on/

I'm on Android version 6.0.1 so they are operating according to their current policy.

I opened the account over 5 years ago for the sole purpose of fee-free cash withdrawals abroad so it hasn't been used much.

Most of the apps for my various current accounts no longer work but at least they notified me in advance. I hardly ever used them anyway as I prefer to use the desktop PC.

Nasqueron

clivep said:

eskbanker said:

clivep said:

Latest app is not supported by the Android version on my phone.

Out of curiosity, what version do you have, and are they still operating in accordance with their published policy?

• Your Android device must be running Android version 8.0 or newer. But we still currently support Android 7.0 for existing customers. 

https://help.starlingbank.com/joint/topics/setting-up-an-account/what-devices-can-i-use-the-starling-bank-app-on/

I'm on Android version 6.0.1 so they are operating according to their current policy.

I opened the account over 5 years ago for the sole purpose of fee-free cash withdrawals abroad so it hasn't been used much.

Most of the apps for my various current accounts no longer work but at least they notified me in advance. I hardly ever used them anyway as I prefer to use the desktop PC.

Keep in mind Marshmallow was last updated October 2017 so is 7 years out of date and security patches ended in August 2018, you can get a budget Android (avoid Go) for £100 or so with 2-3 years of security updates - far less risk