Any Starling Bank insiders?

roj

I’ve been a Starling Bank customer for a few years. I love the app which I think is the best in the business and I’ve found the customer service good. However this month they have stopped paying interest on my savings spaces. I have applied for their 4% Easy Saver but been rejected.

Like a lot of other customers I’ve been told “ We’re currently subject to certain constraints around opening new accounts, which means that we have to decline some applications. The decision to decline your Easy Saver application may well be a result of these constraints, rather than your circumstances. “

 

I’m aware that they have been fined by the FSA for lax fraud controls hence the restrictions on opening new accounts.

I’m wondering - does anyone on this forum work for Starling bank and know how long these “constraints” are likely to last? 

I have moved my savings elsewhere but I am missing having my current account and saving spaces in the same app. At the moment Starling Bank are offering me nothing but a slick app. 

I’m going to give them a few months, but if nothing changes I will switch to Chase or Monzo. 

MattMattMattUK

roj said:

I’ve been a Starling Bank customer for a few years. I love the app which I think is the best in the business and I’ve found the customer service good. However this month they have stopped paying interest on my savings spaces. I have applied for their 4% Easy Saver but been rejected.

Like a lot of other customers I’ve been told “ We’re currently subject to certain constraints around opening new accounts, which means that we have to decline some applications. The decision to decline your Easy Saver application may well be a result of these constraints, rather than your circumstances. “

 

I’m aware that they have been fined by the FSA for lax fraud controls hence the restrictions on opening new accounts.

I’m wondering - does anyone on this forum work for Starling bank and know how long these “constraints” are likely to last? 

I have moved my savings elsewhere but I am missing having my current account and saving spaces in the same app. At the moment Starling Bank are offering me nothing but a slick app. 

I’m going to give them a few months, but if nothing changes I will switch to Chase or Monzo. 

If they do there is no way they are going to be posting about it on here.

LillythePink

I am a customer and did open an easy saver - the cynical me wonders if it's because you have "too much" money in your spaces to move and therefore get more interest than they are willing to pay? 

I used to save more in Starling but moved it out to another bank, so now don't have a lot in there (less than £500 currently) so for me, the interest will be minimal

As opening one is not an automatic process and it's reveiwed - maybe they do have that sort of policy?

boingy

From the thread title I was expecting a request for Starling's security details and the combination of their giant secret safe in the bowels of the building.  

It's strange to stop an existing customer opening another savings account but I guess they have their reasons and they are unlikely to share them in public or in private.

Hoenir

Plenty of existing threads on the same topic. Starlings macro issues as a bank are well documented. 

wiseonesomeofthetime

Bear in mind that even if Starling allows you to open the Easy Saver, you only get ONE.

And it sits below Spaces, with less functionality than Spaces.