Anyone tried Starling Bank?
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It took 10 days, downloaded the app on 9th, confirmed my place on the waiting list (from months ago), received my code on 19th.
I registered an interest on 11th January and also received my sign up code on 19th May. I guess they're not issuing codes on a on a first-come, first-served basis.
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Can anyone confirm which of the CRA's Starling are using for the current account?0
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Can anyone confirm which of the CRA's Starling are using for the current account?
Call Credit: http://www.callcredit.co.uk/press-office/news/2017/02/starling-bank.
I guess we'll have to wait a while to find out if they search Experian or Equifax.
Presumably they perform a full credit search because they offer an overdraft after sign up.0 -
Email received: "Your Starling Pass Code: Censored. Great news - you're in! We promised you'd be the first to get your hands on a Starling account ..." The first to get it? I don't think so.
I thought Starling would be different to the current crop of Fintech challenger banks but no such luck. Starling too has the urgency to buy seen on QVC and other shopping channels but additionally has the jump-through-hoops factor to get an account.
I switched to CYBG's B to get the app-based banking that I was oh so tired of waiting for from Starling and that's where I'm staying.0 -
A possibly related event is that on their Facebook page Tandem Bank have changed their name to Tandem dropping "Bank". This comes hot on the heels of Starling launching its mobile app in Beta mode.This Page used to be named Tandem Bank. Is the new name misleading or offensive? Let us know.
https://en-gb.facebook.com/TandemMoney/0 -
A possibly related event is that on their Facebook page Tandem Bank have changed their name to Tandem dropping "Bank". This comes hot on the heels of Starling launching its mobile app in Beta mode.
Not sure why you think that's a related event? Tandem and Starling are, afaik, entirely unrelated to each other.
Starling is a fully licensed bank going ahead with its app and appears to be doing what it intended.
Tandem is no longer a fully licensed bank and is cutting back on its plans.0 -
Not sure why you think that's a related event? Tandem and Starling are, afaik, entirely unrelated to each other.
Starling is a fully licensed bank going ahead with its app and appears to be doing what it intended.
Tandem is no longer a fully licensed bank and is cutting back on its plans.
Exactly.
Tandem (Bank) was one of the new crop of Fintech challenger banks. The question remains, "What will happen to Monzo et al which to all intents and purposes are prepaid cards and not Banks in the sense that we know them.".
Back to the topic, Starling Bank on the alleged strength of its mobile app is undoubtedly looking to poach customers from established banks which also have mobile apps. Whether Starling bank will be successful when the novelty factor wears off remains to be seen.
In answer to a previous question Starling Bank will no doubt make money from up-selling and cross-selling. The problem with that is that they don't appear to have very much to up-sell and cross-sell to unless it applies to third-parties.0 -
Starling have been very upfront about how they'll make money and cross-sell. Their business model is to provide a current account only. All the information is on their website.
Similarly Monzo, who currently hold a full banking licence and will convert their pre-paid cards to full current accounts imminently.
Neither have 1000s of branches to service, tens of thousands of staff, legacy IT systems from the 1970s on creaking infrastructure, or bad debts. Neither are any different in outlook to first direct who shocked everyone with the concept of phone banking in 1989, and is now regarded as a successful operation, or Smile on the internet.
The fact is internet banking logins are plummeting as the vast majority of people login via an app, which is inherently more secure as it is tied to a specific device and usually accessed with a fingerprint.
My worry is these trailblazers will sell out to Barclays/Lloyds/traditional banks etc and become a sub-brand and take on the 19th century way of thinking these banks cannot move on from.0 -
The fact is internet banking logins are plummeting as the vast majority of people login via an app, which is inherently more secure as it is tied to a specific device and usually accessed with a fingerprint. .
Where's your evidence for "usually accessed with a fingerprint"? I know this is possible with many smartphones, but not with all of them, by a long way, and some of the banks' apps don't yet support fingerprint login. Your "usually" should be "sometimes".0 -
The fact is internet banking logins are plummeting as the vast majority of people login via an app, which is inherently more secure as it is tied to a specific device and usually accessed with a fingerprint.Where's your evidence for "usually accessed with a fingerprint"? I know this is possible with many smartphones, but not with all of them, by a long way, and some of the banks' apps don't yet support fingerprint login. Your "usually" should be "sometimes".
And the "vast majority" should be "increasing numbers".0
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