01 April 2020

Starling introduces Coronavirus Support Scheme

Written By FinTech Alliance

Starling introduces Coronavirus Support Scheme

Starling Bank has announced changes to support customers through the coronavirus pandemic.

In Brief:

  • It has announced a three-month overdraft interest holiday for personal account holders.

  • It will be aimed at those who have lost their job or cannot work due to self isolation.

  • The scheme starts on 1 April 2020 and will last 90 days.

What does this mean?

All interest on arranged overdraft charges will be waived and not added on at the end of the holiday. This just applies to those who already have an arranged overdraft – but those who do not will not be charged a fee if they accidentally fall into an overdraft.

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