Starling Bank has announced that it has launched the Starling Business Euro Account, giving business and personal customers the power to spend directly in pounds or euros with a single debit card.
The dual currency card feature goes live on the same day as Starling launches its Business Euro Account. The new account will help Starling’s 77,000 business customers make transactions across the Eurozone and reduce currency exchange costs.
The new multi-currency account can also help to reduce exchange rate risks, and unlike similar offerings on the market with other banks, there are no fees for euro to euro transactions.
The Business Euro Account is available to both new and existing Starling business account customers. Once it’s open, users can transfer money from their business account to their euro account with a single tap in the app. Customers will be charged a flat fee of £2 per month to use the Business Euro Account and transfers into the account will be made at the prevailing exchange rate, plus a 0.4% fee (of the transaction value).
Anne Boden, CEO and founder of Starling Bank, said: “A single card that can buy things in both euros and pounds is long overdue and something that we know our customers will value both in their personal and business lives.
“Businesses of all sizes have customers and suppliers spread across different countries. Our new Business Euro Account will make a huge difference to these kinds of business customers, who are regularly carrying out international transactions whilst operating on a tight budget. These latest features represent another milestone in our mission to transform banking into a truly international, 24/7 service and demonstrate that we have come a long way towards that target in a short space of time.”