Starling have become the first UK bank to charge interest on an account, albeit only on Euro account balances over €50,000.
This is Money: Starling becomes the first British bank to charge customers interest on savings.
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It’s a little overhyped. The charge is only for balances above 50k. bunq has charged on balances above 100k for a long time already.
I suspect a small number of customers were depositing up to the FSCS protection limit and costing Starling a disproportionate amount of money
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It’s clickbait. They’ve only brought the Euro account in line what the ECB set ages ago (negative interest rates). In fact, they are still taking the hit on Euro accounts with less than €50,000 in them.
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So probably over 99% of their euro accounts
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And how many Starling customers hold more than €50k ?
I have no idea but as I said probably 99% of their euro accounts are under 50k
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The article mentions 1%…
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It’s a Daily Mail site, stands to reason…
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