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October 31, 2019

Starling Bank introduces dual currency debit card

Starling Bank has introduced euro debit card allowing business and personal customers to spend in two currencies, pounds or euros, with one card.

The bank has also launched a business euro account at a flat fee of £2 per month that lets its 77,000 business customers operate in both currencies.

In order to start using the new feature, business and personal account holders are required to open a euro account. Customers can switch the existing debit card on inside the app to operate in either pounds or euros.

The euro account is aimed at business customers who regularly send or receive payments in euros. It will not have any fees for European transactions.

The UK’s bank is also expanding its international currency transfer service to weekends, enabling customers who use the Starling app to convert currency seven days a week at any time.

Starling said for weekend conversions, it will calculate its own exchange rate that takes into account the risk of currency fluctuations as currency markets do not operate in the weekends.

Starling Bank founder and chief executive Anne Boden said: “Businesses of all sizes have customers and suppliers spread across different countries. Our new business euro account will make a huge difference to these kinds of business customers, who are regularly carrying out international transactions whilst operating on a tight budget.

“These latest features represent another milestone in our mission to transform banking into a truly international, 24/7 service and demonstrate once again that we have come a long way towards that target in a short space of time.”

Last month, Starling Bank launched online banking, a web app allowing its 66,000 business and sole trader account customers to better manage their finances.

The bank introduced the UK’s first digital business bank account in March 2018.

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