Starling Euro Accounts are now live, allowing UK customers to hold, send and receive euros for free.
With no monthly fees attached, the Starling Euro Accounts offer a secure platform for UK customers to use euros while travelling or transferring funds at home.
The account will roll out on a phased basis initially. It is designed for UK residents who:
- are European expats living in the UK and sending money back home,
- work in the UK, but are paid in euros,
- travel frequently to and from Eurozone countries,
- have family and friends living in Europe,
- own property in Europe,
- make regular payments in euros for a pension or mortgage in another country, and
- are UK residents working in Europe for a defined period.
Settling Brexit woes with seamless account
With Brexit still uncertain, the new account bridges the gap for Starling customers whose lives and businesses are spread across Europe.
For those who conduct a lot of transactions in euros, the Starling Euro Accounts also help reduce exchange rate risks.
Account holders will initially be able to hold, send and receive payments in euros. However, the challenger bank has stated that later on this year, Starling debit card holders will be able to work with the Euro Account.
Currently, there are no overdrafts or loans on the new account, however many of the money management features on the basic Starling account will be available.
CEO of Starling Bank, Anne Boden, commented:
“Whatever happens with Brexit, the UK will always retain strong ties with Europe. The first phase of our Euro Accounts offer is a landmark moment as Starling sets European expansion in its sights for 2019.
“With no extra costs or lengthy burdensome sign-up process, our customers can bank across the Eurozone quickly through their smartphones. Soon we will have debit cards for the account, taking us one step further down the path of bringing the Starling experience to people living outside the UK.”