Starling Bank CEO Anne Boden has said in a letter that the FinTech won’t be advertising through Meta (the rebranded name for the Facebook group).
Boden says Meta must do more to tackle fraudsters advertising on Facebook and Instagram.
Until this is improved, Starling won’t take out paid ads on each of the platforms.
However, the company is keeping its social media accounts live on both platforms.
What does this mean?
Boden says the aim of ceasing to pay for adverts on Facebook and Instagram is to “protect our customers and our brand integrity” and warns that scammers are using the platforms as a way of “going after the savings of our customers and those of other banks”. Reportedly, the boycott has been in place since mid-December.