Latest news with #currentaccounts
The Sun
4 days ago
- Business
- The Sun
Big bank with 3.6million customers makes huge change to accounts and customers are desperate for it come back
A MAJOR bank with over 3.6million UK customers has made a big change to its current accounts. Starling customers can no longer open a second personal current account with the digital bank - a feature used by many banking customers to help them manage their money. 1 Starling told The Sun it had "temporarily" stopped allowing customers to open additional accounts while it makes improvements. The bank quietly suspended additional accounts in 2024, the Sun understands, and customers have since been calling on the business to bring back the feature. One customer posted to X this week: "@StarlingBank any idea when additional accounts will be back? I originally had one and would like to enable it again." Another posted to the platform in January asking: "Can i create a second personal account in @StarlingBank?" One customer asked on Reddit: "Have Starling stopped letting you open a second personal account for yourself? "I'm sure it used to be a thing when I first started with Starling, but now I get 'you've reached your personal account limit' with one account, and a similar error ('you're not currently able to apply for this account') when I go to open a Personal Additional." Starling previously allowed customers to open an extra everyday bank account, free of charge, alongside their personal current account. The change only affects additional personal current accounts, and customers can still open joint and business accounts with the bank. A spokesperson for Starling told the Sun: "We've paused applications for secondary personal accounts while we focus on improving our account offering. "Customers are still able to apply for a joint account, provided both customers are Starling customers. Joint accounts remain limited to one per customer." Popular bank with over 400 spots confirms it is shutting 18 branches in August – it follows 148 closures by rivals Starling did not confirm when additional accounts would be returning to the banking app. It comes after the bank scrapped interest payments on its current accounts for all customers in February. Before February 10, Starling paid 3.25% interest on balances up to £5,000, meaning a customer with the maximum amount in their account could earn an extra £162.50 a year in interest. For customers still wanting to save, the bank introduced an easy access savings account paying 4% interest. Saving £5,000 into this account would yield £200 in interest over 12 months. Other bank changes The Sun revealed this week that NatWest is increasing fees for cash payments, cheque transactions and certain online transactions. From August 30, cash payments into and out of business accounts will see their fees surge from 70p per £100 to 95p per £100. Cheque payments, whether processed by hand or by mobile, will also jump from 70p to 75p per cheque. The bank is also increasing some charges related to its BACS payment system, with processing fees rising from 18p to 21p. Meanwhile, Santander recently revealed that it would start charging customers £120 a year for an account it promised would be "free forever". Thousands of small business and self-employed account holders are facing £9.99 monthly charges from October for business accounts. The changes come despite written assurances that their accounts would always remain free of fees, leaving customers feeling betrayed by the charges, which some branded "disgusting". A spokesperson for Santander said: "The business banking landscape has changed significantly over the last decade. "As such, we are simplifying our business banking offering as the first step to ensure that we can sustainably and efficiently evolve to better meet the needs of our business customers in the future." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Bloomberg
18-07-2025
- Business
- Bloomberg
Japan's Kato Says Tariffs Not Right Tool to Fix Trade Imbalances
Japan told Group of 20 countries that tariffs aren't the right way to fix imbalances, and that countries facing such situations need to address them through domestic efforts, according to Finance Minister Katsunobu Kato. 'Japan said that tariffs aren't really the right tool to fix excessive current accounts imbalances,' Kato told reporters Thursday. US Treasury Secretary Scott Bessent did not attend the gathering.
Daily Mail
08-07-2025
- Business
- Daily Mail
Do YOU want to switch your current account? From £500 gift cards to cash bonuses and a year of Just Eat vouchers, HELEN KIRRANE reveals her definitive guide to the best perks
Banks are battling for your custom, with cash sign-up bonuses, lifestyle perks, cashback and special deals for everyone from high rollers to cash-poor students. Two new current accounts have launched in the past two months – the first new launches since 2021 – in a sign banks are looking to lure customers in with new offers.
Telegraph
29-06-2025
- Business
- Telegraph
Revolut vs Monzo vs Starling: Which is the best online bank?
If you never intend to set foot in a bank branch and are well used to running your finances from your phone or tablet, you might consider one of the popular online-only banks next time you switch current accounts. As many as 87pc of UK adults now use online or remote banking services, according to research from Finder. In the face of a rapidly disappearing presence on the high street, it's hardly surprising that more of us are turning our backs on traditional banks and switching to new digital current account providers instead. In fact, at the start of this year, an estimated 40pc of adults had opened an account with a digital bank, up from 24pc in 2023. Here, Telegraph Money sizes up the big three – Revolut, Monzo and Starling – if you're not sure where to start. Revolut This global money app currently boasts over 55 million customers globally, with more than 10 million in the UK, and offers a range of banking, saving and investment services. Its range of personal current accounts goes beyond the basics, and includes a freelancer Pro account and an under-18s account, in addition to the expected individual and joint accounts. It also offers banking services to businesses. Personal account holders can choose between five plans, some of which you have to pay for monthly. They include: Standard (free), Plus (£3.99), Premium (£7.99), Metal (£14.99) and Ultra (£45 under an introductory offer, rising to £55 thereafter). The more expensive plans come with statement metal and platinum cards. Although Revolut launched in 2015, it only got its UK banking licence in July 2024, and is currently in the process of completing its one-year mobilisation process. This means that, for the time being, it's still functioning as an 'e-money institution', rather than a full bank.
Daily Mail
07-06-2025
- Business
- Daily Mail
Banking group urges customers with £10,000 in savings to move their money NOW
Customers with £10,000 in savings are being urged to move their money or risk missing out on earning hundreds of pounds a year. In the UK 8.3 million current accounts hold £10,000 or more but 80 per cent of these accounts pay no interest - meaning their money sits passively. However, Spring, a savings app, has encouraged those looking to earn money through interest to move it into a savings account instead. The company warned millions of people in the UK are 'current account coasters' - leaving their money in a main account after paying for essentials, rather than placing it in savings. Derek Sprawling, Spring's Managing Director of Savings, told The Express: 'Cumulatively, nearly £400 billion is held in current account balances in the UK. 'You would imagine that these would mainly consist of small balances, but our analysis shows that there are a significant number of accounts that contain sizeable funds, accounting for over half of the overall balance. 'Most people sensibly maintain a small current account balance to cover emergency costs and everyday expenses, but leaving thousands of pounds in your current account means you will be missing out on hundreds of pounds in interest each year. 'With nearly eight million current accounts containing significant balances, that money could work harder in a higher-paying savings account.' File image: In the UK 8.3 million current accounts hold £10,000 or more but 80 per cent of these accounts pay no interest - meaning their money sits passively He explained that many people are wary about using savings accounts because they can loose immediate access to their money. But there are alternatives, which connect savings and current accounts together. These allow money to be transferred between accounts immediately. As well as unlimited withdrawals.
