Starling Bank most-switched-to UK bank in 2021

Starling Bank’s achievement was revealed as the Q3 Current Account Switch Service (CASS) figures are published today and follows the announcement that it has entered its first full year of profitability

Starling Bank has made the top three of the most-switched-to banks in the UK for the third time this year, as well as being the most-switched-to bank in 2021.  

The digital bank’s achievement was revealed as the Q3 Current Account Switch Service (CASS) figures are published today and follows the announcement that it has entered its first full year of profitability. 

Helen Bierton, chief banking officer at Starling Bank, which won FinTech of the Year at the UK FinTech Awards in 2021, commented: “As the cost-of-living crisis unfolds, customers want, more than ever, to feel in control and to manage their money better. Today’s switching figures suggest that Starling’s saving and spending tools are helping people do exactly that.” 

“Starling is the only bank to have consistently made the Current Account Switching Service podium in 2022—and the only bank in the top three not to offer monetary switching incentives.” 

CASS is a free-to-use automatic bank and building society account switching service in the UK. It takes the administration out of moving providers that may otherwise put people off seeking a better banking deal. 

A negative of switching banks too regularly, however, is that it can affect your credit score, as the applications will show on your file, which could indicate a lack of stability. 

Many UK banks and building societies tempt customers to switch with cash incentives. Currently, Nationwide, First Direct and NatWest offer at least £175 to sign up. 

As well as growing its number of customers, Starling has increased its headcount this year by 20% to more than 2,000 employees. It plans to increase that number a further 10% in 2022. 

More than 1,000 employees are based at its Cardiff office, 650 at its London office and 400 in Southampton. 

New hires have joined Starling’s engineering, financial crime, customer service and card operations teams, which the digital bank plans to grow further to support its 3m+ customer accounts. 

Anne Boden, founder and chief executive officer of Starling Bank, said: “We’re a British Bank full of brilliant talent and we’re opening our doors to more hires as we continue in our mission to change banking for good.” 

Starling has opened a new London office in Spitalfields to accommodate for its growth. Boden said: “Our new office is based in between the financial district of the city and London’s Silicon Roundabout—the perfect location for Starling, which stands apart from traditional banks and challenger banks and is firmly in a category of one.” 

Image: Starling Bank 

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.