Starling Bank, a digital-only UK challenger bank, launches beta

Mar 16, 2017 · techcrunch.com

Screen shot 2017 03 16 at 08.54.22

Starling Bank, one of a number of digital-only or so-called "challenger" banks in the U.K., is launching a beta of the app that powers its current account, the first time it has been available beyond a very small group of private testers close to the company. Those already on the beta waiting list will begin being invited into the app as of today.

Initially available for iOS, with an Android beta to follow at the end of the month, the Starling Bank app lets you sign up to a full current account, thanks to the restricted banking license it was issued in July. Upon approval of your account, which involves things like photographing your passport or driving license via the app, you are issued a Starling Bank MasterCard debit card that can be used in the U.K. and abroad.

You also are able to set up regular payments (i.e. Direct Debits using an account number and sort code), and make one-off payments in and out of the account, including via the Faster Payments network.

And, similar to a plethora of other nascent challenger banks or neo-banking apps (that is, fintech startups that offer a current account experience without actually operating a bank/holding a banking license), the Starling Bank app lets you view your current account activity in real time, something most legacy banks fail or fall over trying to do. This takes the form of push notifications and the "Starling Pulse," a real-time feed that displays all your account activity.

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