Starling Launches Bills Manager In Busy Week

A new feature, a new sponsorship deal and more for Starling this week.

November 4, 2021
Starling Launches Bills Manager In Busy Week
Matt Crabtree

Written By

Matt Crabtree

 
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Starling Bank has launched a new feature that lets customers make bill payments from a savings space, instead of the main account.

Designed to help Starling customers manage their money better, they can choose to pay bills from different spaces, making it easier to split their money between different pots when they budget, without having to move money back into the main account to pay a bill.

Budget-Friendly

The Bills Manager feature is one of the most requested from Starling customers, and so the addition of this free option to all personal and joint account holders is expected to be met with a lot of positivity.

Savings spaces are essentially sub-accounts of the main account. Customers can name their saving spaces after their bills, and with this new function can assign direct debits to the spaces, removing them from the main account.

However, because they are treated as a sub-account, if a customer doesn’t have the money in their saving space to cover the bill, it won’t then be paid from the main account. Customers will get a notification the day before if a payment looks likely to fail, and two more on the day, but then the direct debit will not go through if funds are not added to the saving space.

Our customers asked for this feature and therefore we created it. Enabling them to better manage their money is our number one goal.

Anne Boden, Starling Bank CEO

However, they are lagging behind one of their main competitors in this area — Monzo has offered the option of making bills payments from its own equivalent pots since September 2019.

Newsworthy Week

The new feature is the latest update in what has been a busy few days for the bank itself and for CEO Anne Boden.

Starting with Boden, she has released an updated version of her book ‘Banking On It’, with a new chapter where she says she doesn’t view Monzo as a competitor anymore and is instead looking ahead to Barclays, and she has dismissed the view that Starling could be sold, arguing that she wants to lead the flotation of the bank.

I’m already convinced that Barclays is in our sights, since it has around 15 per cent of the business banking market and Starling has a six per cent share of the market for SME banking… At the rate of growth Starling is now experiencing, overtaking them is not just doable, it is a strong possibility.

Anne Boden, Starling Bank CEO

The bank has also announced this last week that it will be the official banking sponsor of the Women’s Euros 2022 football tournament, to be held in England. It is expected to be the largest women’s football tournament in history, offering the opportunity for the bank to further promote its offering and reinforce its #MakeMoneyEqual campaign launched in 2018.

Starling customers will also be able to get priority access to tickets for the matches at the tournament from February 2022 when they go on sale.

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