UK: Starling Bank opens business current account to sole traders

Starling Bank has announced that its business current account is now open to sole traders in the UK, making it the first instance of a business bank account to be managed entirely by mobile.

This is rolled out to sole traders two months after the launch of its business current account, with businesses using the account to make domestic and international payments and receive real-time balance updates as well as access to spending insights.

RFi Group data demonstrates that sole traders are among the more digitally savvy in the market, with preferences to use digital channels for business banking significantly higher compared to the rest of the SME market.

This puts Starling Bank in a good position to attract this segment. The accounts will initially only be open to existing Starling customers with no set date for a wider rollout at the time of writing.

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