By Oliver Smith on Monday 6 July 2020
Hold, send and receive dollars, or pay in dollars with Starling's debit card, all for £5/month.
Dollars are coming to Starling Bank with the launch today of its US dollar business account, to help SMEs trading both sides of the Atlantic.
The new account means businesses can hold, send and receive dollars, as well as pay directly with dollars on their Starling debit card.
This marks the second foreign currency account after Starling launched a similar Euro account in October 2019, but while the Euro account cost £2/month this new Dollar account comes in a little higher at £5/month.
Payments into the new account will be made at the exchange rate plus a 0.4 per cent fee, the same as Starling’s Euro account.
Starling’s US dollar account is a full US bank account that includes an ACH routing number (the equivalent of account number and sort code).
The bank also took its Business Toolkit out of beta today, offering the £7/month subscription for SMEs with additional features like sending and tracking invoices, automating expenses and connecting with HMRC to submit VAT returns.
“Small business owners are under a huge amount of strain at the moment and at Starling we’re continually looking for ways to help them get back on their feet and remain open for business,” said Starling’s CEO Anne Boden.
“The new features that we’ve built for the Business Toolkit will help entrepreneurs save time and money, while at the same time allowing them to cut down on paperwork and spend more time serving their customers.”
To kick-start the Toolkit it will be free for three months for businesses who sign up before 31 July.