Revolut v Starling - business bank choices?

Revolut v Starling - business bank choices?

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Discussion

BGARK

Original Poster:

5,493 posts

245 months

Friday 12th February 2021
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Currently with a standard high street bank for our business.

Switching over to either Revolut or Starling (our preferred two options) for an established business (30 staff, 7 figure t/o etc). Unsure which to go for if we decide to swap.

Any comments greatly appreciated.

Thanks



malks222

1,851 posts

138 months

Friday 12th February 2021
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I have recently completed a business banking switch to starling. only 1 week and no comment/ judgement yet, but the switch was seamless.

I have only used revolut for personal travel money, do some research on them. I don’t think they actually hold a british banking license.

Also read some horror stories about accounts being frozen/ no access to money and customer services just being an automated computer script and hard to speak to anyone if things go wrong.

YMMV but definitely do some research on customer service and what happens when it goes wrong

Tallboy

92 posts

259 months

Friday 12th February 2021
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I'm with Starling and have been since August, however i'm a much smaller business.

App is very easy to use (spending breakdown very clear and i like the use of 'Spaces'), links well with my accounts package, any approvals needed come through (subject to signal) immediately and confirmations can arrive before you have a receipt in your hand.

Minimal interaction with customer services, which have been great, so no idea how they'll work when a problem happens. Which is the real test of customer services.

Beetnik

502 posts

183 months

Friday 12th February 2021
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I've not used Revolut but I have used a good number of commercial players over the years and more recently some of the new players including Tide and Starling. Starling are head and shoulders above the rest.

Lifeisalemon

231 posts

174 months

Friday 12th February 2021
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Tallboy said:
I'm with Starling and have been since August, however i'm a much smaller business.

App is very easy to use (spending breakdown very clear and i like the use of 'Spaces'), links well with my accounts package, any approvals needed come through (subject to signal) immediately and confirmations can arrive before you have a receipt in your hand.

Minimal interaction with customer services, which have been great, so no idea how they'll work when a problem happens. Which is the real test of customer services.
Exactly the same as this. I have been very happy with Starling so far.

hyphen

26,262 posts

89 months

Friday 12th February 2021
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Last I checked, Revolut isn't a bank and not covered by FSCS?

I have a Sterling Business as a secondary account. Works well and recommended.

OP, don't close your current account though (unless expensive to run) - I wanted to take a BBL out, and Sterling had a 'waiting list'. My normal big bank had the application filled, processed and in my account in hours...

Sterling them emailed me a month later to say I could apply now.

Keep your money split across multiple accounts.

TCX

1,976 posts

54 months

Saturday 13th February 2021
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Sole trader,found it easy to sign up to starling,been using it nearly a year ,never had any need of customer service,happy with it,also got personal account with them