Digital challenger Starling Bank has today launched a business euro account and a dual-currency debit card as it steps up preparations to expand into Ireland, in a challenge to fintech giant Revolut.
Customers with Starling Bank debit cards will now have the option to spend directly in pounds or euros using a single card. Its new business euro account will not have any fees for European transactions.
The launches mark a major challenge to banking app Revolut, which caters to the wider European fintech market.
A spokesperson told City A.M. Starling was planning to launch in Ireland next year.
“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,” said founder and chief executive Anne Boden.
“These latest features represent another milestone in our mission to transform banking into a truly international, 24/7 service and demonstrate once again that we have come a long way towards that target in a short space of time,” Boden added.
It emerged earlier this year that Starling was preparing to apply for a full European banking licence in Ireland, which would allow it to maintain full financial passporting rights across the EU post-Brexit.
Boden had promised Starling’s entry into Europe through accounts in the Irish Republic in 2017, before extending that schedule until the end of 2018.
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