Starling Bank – The Key Points


  • Starling Bank is a fully licensed UK bank, and as such is regulated by the FCA and all customer deposits protected up to £85,000 under the FSCS.
  • Starling Bank appears to be very stable, especially for a recent startup business, with solid underlying numbers in regard to the amount of accounts opened and funds held with them.

Potential Concerns:

  • Starling Bank have no branches, so any issues must be resolved via the app or by phone.

What Is Starling Bank?

Starling Bank was amongst the first of the wave of fintech startups that have emerged in recent years, having launched in 2014. Since then, they have cemented their position as one of the UK’s leading ‘challenger’ banks, offering an easy to use smartphone app based banking solution. As of 2022, Starling Bank claim that they have opened over 2.8 million customer accounts.

Is Starling Bank Safe – The Details


Starling Bank have been a fully licensed UK bank since 2016. As such, they are regulated by the Financial Conduct Authority (FCA) in the UK.


As a licensed UK bank, all customer deposits in Starling Bank are protected by the Financial Services Compensation Scheme (FSCS) up to a maximum of £85,000 per customer in case of their insolvency.

Investment Risks:

Starling Bank do not offer any investment products.


Starling Bank is a relatively recent startup and as such, they have not yet had a full profitable year. Their results continue to improve however, with losses becoming lower each year, and they continue to raise large amounts of funding. Their customer base is large and growing which bodes well for their future.

Data Security:

Starling Bank only have access to the data within your account with them. They utilize various methods to keep your data secure and account safe. They state they comply fully with all GDPR regulations.


As a digital bank, Starling do not have branches. Therefore, if you have a problem on your account, then you will need to rely on either their in-app chat or call their number to connect to customer services to resolve your issue, rather than just heading into a branch.




Is Starling Bank Legit?

Overall Starling Bank appear to be a safe place for you to bank with. They are fully regulated and deposits are insured. In addition, their business appears to be stable and growing.