To worry that Starling Bank wouldn't get a bailout?

4 replies

hatesalons · 04/10/2020 05:36

Joined Starling, got my new card which is a thing of beauty, can't wait to get started.

BUT a friend says we don't know what's going to happen with the economy and only big banks like RBS get bailouts

Should I keep any savings in another account and just use Starling for it's money management app?

It's not like I have a lot of money anyway!

OP posts:

Ifailed · 04/10/2020 05:41

as it has a Banking License, savings of up to £85k are protected by the FSCS.

zombieaccount · 04/10/2020 05:44

Starling are protected by the FSCS ( financial services compensation scheme) up to £85k. The FCA will give you you balance back up to £85k if the bank fail.

Original poster

hatesalons · 04/10/2020 05:46

Thanks!

I should be fine then as I won't have anything close to £85k

OP posts:

GrumpyHoonMain · 04/10/2020 07:23

Starling is a proper bank. Nothing to worry about

Flip

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