New business loans, overdrafts and "toolkit"

I’m particularly intrigued by the “business toolkit” - essentially a paid account that gives access to various accounting tools, such as invoicing, cash flow forecasts, tax calculations, HMRC returns, etc. If the quality compares favourably to the likes of Xero and Freeagent, then I’ll be very interested.

In regards to business owners, is there really any other bank offering them something better than Starling at this point now? I think what they’ve done for Business accounts is exceptional and very excited to see any updates planned for the Personal account this year.

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£250000 loans…
For example for 4 customers £1000000🧐
Do Starling have sources to fund loans and up to £150000 overdrafts?!

The base rate is low enough that they can borrow directly from BoE atm

Or I think that’s how it works?

I like how over on the “other” forum it’s being said:
(Quote from a post over there)

Haven’t Monzo said they intend to introduce all those toolkit features for business accounts already?

Yes, but Starling have delivered :grin: :grin: :grin:

Hopefully, Monzo can deliver too, as all advances in the world of FinTech banking can only be good for both customers and the industry.

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I’m pretty excited about Starling’s approach to diversification. It just looks very different to what a lot of other challenger banks are doing. Like others in this thread, though, I was wondering where they were getting the money from to fund those loans.

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I’m getting a little worried for Starling, Virgin Money’s offering will be extremely competitive once they kill FX fees entirely

There’s more to Starling than just zero FX fees though. Best looking banking app IMHO.

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I don’t see what Starling does better, honestly

So you genuinely think the Virgin Money app looks better and has more features than the Starling app?

The starkness of the Virgin Money app really reflects where the bank is in its app journey - very early.

@danmullen is surely right. The Starling offering has always been at the elegant end of the spectrum - it’s just that it has never been distracted by the seeming need to focus on gimmickry as Monzo seems to have done.

Starling feels to be a mature setup, CS is there when I (very rarely) need it and, incidentally, from the beginning, I’ve always admired their bank statement :blush:.

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It’s a thing of beauty :blush:

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Looks better? No

Has more features? Actually I do believe so. Cheque imaging, dedicated saving account w/ sort code and account number with a higher interest rate + savings goals within that

A timeline of transfers broken down by day, budget creation, chequebook, credit cards, energy switching powered by a comparison site rather than select partners like Monzo did where they’d take a juicy cut and cut down your options to make sure they did

Sure it doesn’t have Flux or any other marketplace stuff, but it’s definitely not a bad app and it’s feature packed

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I’d say it simply looks a tad better than its “B” predecessor. But that’s not saying much…:face_with_raised_eyebrow: