Starling Bank

Hoenir

M25 said:

Starling paying a £29,000,000 'fine' is chicken feed to what the major banks have been paying with their connections worldwide to money laundering etc.

Pot calling the kettle black comes to mind.

Starling Bank risks suffering a clawback for the losses incurred during Covid and the provision of Bounce Back Loans.  The regulator's assessment that a lack of checks ‘left the system wide open to criminals and those subject to sanctions’. Suggests Starling has a long way to go yet before ascertaining any credibility as a challenger bank.  10% of 2023's net operating income is a far higher % than any other financial institution previously. 

cronzo95

Hoenir said:
 10% of 2023's net operating income is a far higher % than any other financial institution previously. 

Wow that's a huge percentage! Doesn't really compare to the other fines given out.

penners324

cronzo95 said:

friolento said:

cronzo95 said:

friolento said:

cronzo95 said:

friolento said:

cronzo95 said:

400ixl said:

Starling were fined recently and told to tighten up their anti fraud measures.

Thank you, that makes sense - 29 million fine. 

If you search long enough, you can find dirt on any bank, including on the one you originally set out to find information about. You will also find more trustworthy and reliable sources than Trustpilot.

Yes negative reviews on any bank are common. But there does seem to be a surge in the number complaining about this bank for freezing accounts. It all adds up with the recent fine for not doing enough checks and the removal of benefits to the current account with interest rates.

If you don’t engage in shadey transactions, you don’t have to fear a frozen account.

Banks have a legal obligation to freeze accounts of fraudsters, or suspected fraudsters. 

One of my current accounts is with Starling. They are as good and as safe as my other banks. 

Yeah doesn't always work like that. There's been plenty of people that have had issues from a frozen account and even if you've done nothing and it gets unblocked you can be left without access to your money for months.

Those are exceptional cases, and can occur at any bank. It certainly doesn't support your anti-Starling sentiment.

No it can't happen at any bank as if you're with a high street one and your account gets locked you can go to the branch and be given some of your cash each week to live on. With these neobanks you're left high and dry.

Starling in particular has faced a lot of issues with growing quickly.

A branch won't just hand over cash from a frozen account.