The accounts can be opened simply by sitting next to a partner.
Digital banking app Starling claims to have become the first UK bank to launch a joint account with a fully mobile application process. This is the latest in a string of ‘firsts’ for the firm.
Using Google Nearby technology, customers will simply have to sit next to one another in order to apply for an account, which takes five minutes. Ordinarily, would-be joint account customers would have to pay a visit to a bank branch to undergo checks. With Starling, they’ll simply tap ‘find your other half’ within the app.
Once opened, a joint account on Starling allows users to manage their money from the same app, with real-time spending tracked and attributed to each person. It is free to use.
Starling is also seeking – in a definite ‘first’ for banks – to take some of the pain out of break-ups. The account can be quickly locked and ‘easily closed’ in the event of romantic discord.
Starling’s most recent ‘first’ was its new gambling block, launched a few weeks ago. The bank snuck in ahead of rival Monzo to launch the feature, after Monzo became the first bank to announce it several weeks earlier.
“Joint Accounts are notoriously difficult to set up and cancel. However our new technology removes the pain of setting up a joint account by letting our customers do it from the comfort of their own home,” said Starling CEO Anne Boden (pictured).
“We are using technology to take the stress and inconvenience out of banking and empower individuals – and now couples – to take control of their finances. Following hot on the heels of the launch of the UK’s first app only business bank business account, our joint account is the next step towards transforming the banking industry for customers.”