Beat Starling Bank exchange rates when making an international currency transfer or overseas payment, save time, money and get the best deal. It’s a good idea to evaluate Starling Bank money transfer options and alternatives to make sure you’re getting the maximum savings possible.
International currency transfers to or from your Starling Bank account in UK pounds, euros, US dollars and many other popular currencies will involve a margin or exchange rate of around 1.0% and additional bank transaction or commission fees may apply.
Starling’s international currency transfer rates are still higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Starling Bank is a digital-only challenger bank that was founded in 2014 by Anne Boden, a former banker with over 30 years of experience in the industry. The bank officially launched in 2017 and quickly gained popularity for its user-friendly mobile app and innovative approach to banking.
Starling Bank was one of the first banks in the UK to offer real-time notifications of spending, as well as features like round-up savings and budgeting tools. Since its inception, Starling Bank has continued to grow and expand its services, becoming a major player in the fintech industry.
International money transfers from Starling Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Starling Bank account holder to use their services.
Unless you pay a premium, Starling Bank’s service can take up to 5 working days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Starling Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer.
Save on the exchange rate conversion when transferring money abroad from your Starling Bank account to or from UK pounds and the euro. Starling Bank international money transfers to or from the European Union and the UK have higher transaction charges, due to a less competitive exchange rate offered by Starling. More: Starling Bank GBP vs EUR money transfer
Save on the exchange rate conversion when transferring money abroad from your Starling Bank account to or from UK pounds and the US dollar. Starling Bank international money transfers to or from the United States and the UK have higher transaction charges, due to a less competitive exchange rate offered by Starling Bank. More: Starling Bank GBP vs USD money transfer
Starling Bank is a digital-only bank that does not have physical branch locations like traditional banks. Instead, customers can access their accounts and services through the mobile app or website. This allows for greater convenience and flexibility, as customers can manage their finances anytime, anywhere.
Additionally, the lack of physical branches helps to reduce operating costs for the bank, which can lead to better rates and benefits for customers.
Starling does not have any physical banking branches. With the rise of online banking services, banks with no physical branches are increasingly viewed as a convenient and accessible alternative to traditional banks.
You can find answers to everyday banking questions by visiting the Starling Bank website. If you can’t find the answer you’re looking for, you can call them from outside the UK on +44 207 930 4450
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers