Starling Bank
Starling is a UK bank with its own licence, which matters more than the app design: money in the account is covered by the FSCS up to 85,000 pounds. Sole trader and limited company accounts carry no monthly fee, no charge for UK transfers and no fee for card spending abroad, and support answers around the clock from UK teams. The optional Business Toolkit adds invoicing, VAT estimates, MTD ready VAT submissions and automatic expense categorisation for a small monthly amount. Cheques can be deposited by photo, and cash goes in at Post Office branches.
A solid default for UK freelancers who want a real bank rather than an e money wrapper. Overseas transfers are possible but pricier than specialist services, and multi currency options are limited to euro and dollar accounts. Applicants must be UK residents, which rules out freelancers based elsewhere.
Pros
- Full UK banking licence, FSCS cover
- Free sole trader and company accounts
- No fee for card spending abroad
- /7 UK based support
- Cheque deposit by photo
Cons
- UK residents only
- International transfers cost more than specialists
- Only euro and dollar extra currencies
- Toolkit features are a paid add on
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