Mobile-only challenger Starling Bank is making its business account available to the UK’s 3.4 million sole traders, two months after launching the business account service.
According to the bank, this will be the first time that sole traders – who make up more than 60 per cent of UK businesses – will be able to manage their business account entirely from their mobile, while being able to manage their personal finances from the same app.
Starling customers will be able to make payments to suppliers from the app (including international payments), receive real-time balance updates and access insights on monthly spending. They’ll be able to set aside money for important business expenses using the Goals feature, which allows users to set savings targets for individual items or areas of expenditure.
The service will initially only be available to existing Starling customers.
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