Starling Business Account: International payments

4 minute read

In an increasingly global world, businesses are expanding their operations internationally - meaning they are looking to find the best ways to pay suppliers abroad and receive payments from overseas clients.

Starling Bank offer an online business account that lets you send money to bank accounts in 38 countries, as well as free domestic transfers.¹ This article will take a closer look at some of the fees involved in sending payments internationally with a Starling business account. It will also introduce you to an TransferWise for business, that can help you receive overseas payments for free.

Receiving international payments with Starling Bank

With a Starling personal current account you can get a Euro account to receive EUR with no cost, with your very-own IBAN. However, unfortunately, this is not yet available with the business account.²

If you need to receive international payments to a business account, then you may want to consider an alternative such as TransferWise for business. With their multi-currency account you’ll get local account details for USD, EUR, AUD, NZD and GBP - so you can receive global payments for free.

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Starling Business account fees: What is the real cost?

You can send payments overseas with a Starling business current account, so that you can pay international suppliers, and receive payments from clients in currencies other than GBP. However, to enjoy this service there will be fees you’ll need to consider. The fees for sending money abroad differs depending on the country to which you’re sending. The main fees incurred for sending international payments are included in the table below.

Fee Type Description Cost
International payment fee This fee is added by Starling Bank to currency transfers. 0.4% fee is applied.
Local network payment Send your payment via a local partner. For some currencies it can take a little longer to process than others. Prices start from 30p per transfer for some currencies.³
Priority payment fee Priority payments sent with SWIFT. Flat rate fee of £5.50 per transaction.¹

*Information is valid on 05/09/2019. For up-to-date information always check the provider’s site.

Compare Starling business bank account fees with other fee-free banks with our free business bank accounts comparison.

Sending international payments with Starling Bank

With Starling Bank, you can send international payments to 20 currencies, including EUR and USD.⁴ This case study below illustrates the costs and fees of sending 1000 GBP to EUR, and compares how much the recipient would receive from TransferWise and Starling Bank.

Starling Bank TransferWise
Fee £ 4.28 £ 4.29
Total GBP converted £ 995.72 £ 995.70
Exchange Rate 1.1118 1.11179
Amount received € 1,107.06 € 1,107.40

Starling Bank is a really competitive choice, and they seem to offer good deals if you want to send money internationally, but you'll need to make sure you do your research to see if it's the best for you overall.

*Currencies correct as of 9 July 2019. Information is taken directly from Starling Bank site on 05/09/2019: For up-to-date pricing information, contact Starling Bank directly.

How to open a starling bank account?

To set-up an account with Starling Bank, you will need to:

  • Download the Starling app
  • Enter your personal details
  • Verify your identity by providing ID documents and sending a short video
  • Provide a few details about your business, once Starling have ran some checks
  • Starling Bank will review your application.⁵

Starling bank is only available via their app, so you won’t be able to create or manage your account without it.

Starling Business accounts may be an alternative to high street banks, that you want to consider. They come with useful features such as Xero and FreeAgent integrations, however there may be some limitations, such as receiving international payments. This is where TransferWise may be able to help. Receive, send and spend with a free business account, with the real exchange rate and start saving on business payments.

Sources used:

  1. Starling Bank: International Payments
  2. Starling Bank: Personal current account - Euro account
  3. Starling Bank: Fees
  4. Starling Bank: Where can you send money
  5. Starling Bank: Business account

Sources checked on 05-September 2019.

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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