Major bank to axe key feature from all current accounts in weeks

Starling will be making a change to its current accounts
-Credit:Reach Publishing Services Limited


Digital bank Starling is set to axe a key feature from all current accounts within weeks. Customers will no longer be able to benefit from the money-making feature from February.

The bank will be ending interest payments on current accounts for all customers. Currently, Starling pays 3.25% interest on balances up to £5,000.

It means that a customer with the maximum amount in their account could earn an extra £162.50 a year in interest. But this feature will be axed completely on Monday, February 10.

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A spokesperson for Starling Bank said: "We continually keep our products under review and have taken the decision to remove current account interest from February 10, 2025. Customers will still benefit from fee-free spending abroad and 24/7 customer service."

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Customers who still want to bank with Starling can take advantage of its easy access savings account, The Sun reports. This pays 4% interest.

Saving £5,000 in this account would give you £200 in interest over 12 months. But customers could still get a better savings rate with other banks.