Starling Bank takes legal action against bad debtors (2024)

FAQs

Starling Bank takes legal action against bad debtors? ›

Starling Bank has commenced legal action against two dozen bad debtors as it struggles with increasing defaults and scrutiny from the city watchdog over its financial crime controls. Since May, Starling Bank has submitted winding-up petitions against 24 firms that have defaulted on loans, based on court records.

Starling Bank has revealed in its 2024 annual report that it is under investigation by the Financial Conduct Authority (FCA) for potential anti-money laundering (AML) failures.

We've built our customer-focused banking platform from the ground up. Our Banking-as-a-Service accounts are protected by the Financial Services Compensation Scheme (FSCS) and allow you to develop your own financial product, fully supported by our scalable technology and secure APIs.

If you have been scammed out of money you may be able to claim compensation. This includes scams and frauds such as investment, impersonation, romance or purchase scams.

Your Starling account is protected by industry-leading security features, but it's important to stay personally aware too.

What is Settle Up? Keep on top of IOUs, pay friends and family, and settle bills with Settle Up. No double checking details or awkward texts; just a few taps, a single link and you're settled up. Splitting dinner or going halves on nan's birthday present has never been easier.

The UK digital banking group reports a 54.7% increase in pre-tax profits to £301.1m. Revenue grew by 50.6% to reach £682.2m, while total deposits were up 4% to £11bn. John Mountain, Interim CEO of Starling Bank, said: “This is our third full year of profitability demonstrating a robust financial performance.

How secure is Starling Bank? Starling Bank is a strictly regulated financial institution and you can find out more about how they're regulated here. It also offers up to £85,000 protection per person under the Financial Services Compensation Scheme (FSCS).

We're not owned by any other bank. We're part-owned by our founder Anne, employees and an employee benefits trust with investment from Harry McPike, a global private investor, Chrysalis Investments Ltd, Fidelity, Railpen, Qatar Investment Authority, Millennium Management and Goldman Sachs.

What do I do if I was scammed and my bank wont refund me? ›

Explain what's happened and ask if you can get a refund. If you're not happy with how the bank deals with your claim, you can complain to them. Find out how to do this by checking their website. If it's been 8 weeks since you complained, and you haven't got your money back, contact the Financial Ombudsman.

Any chargeback claim that is raised by Starling on your behalf is handled directly between us and Mastercard. If your claim is in line with Mastercard's rules and regulations and a chargeback is able to be raised, Starling will process a refund to your account.

Banks often refund scammed money, but it's not guaranteed. The likelihood of a refund depends on your bank's policies, the type of scam, the payment method used, and how quickly you report the fraud.

City starlings tend to prefer large buildings—office buildings and warehouses—and other structures—industrial complexes and bridges—for roosts. Large numbers of starlings are killed each year because they eat crops and livestock feed, and leave droppings.

Both banks offer personal accounts including a current account and savings accounts. However, Starling Bank has a broader range of products than Chase such as joint accounts, business accounts, multi-currency accounts and accounts suitable for teenagers and younger children.

Ethical banking

We don't provide banking services to or invest in organisations that use excessive power to systemically promote public behaviour that is harmful to individuals, groups or to the whole of society in order to maximise their own profits.

The probe targets JPMorgan, Bank of America and Wells Fargo—while a JP Morgan filing last week suggested the bank may pre-empt the investigation by suing the CFPB, which is tasked with ensuring banks' treatment of their users are fair, transparent and legal. JPMorgan confirmed they are under investigation.