London digital bank Starling applies for Irish banking licence
Digital bank Starling is preparing for Brexit with a new Irish licence and the launch of a new euro account to provide UK customers with a way to hold, send and receive the currency for free.
The London-based fintech firm says its “Euro Account” is the first of its kind from a UK digital bank, with no monthly fees.
The company's plan to apply for an Irish licence were first reported in June 2017 when it received a banking passport into Ireland. The bank said this was “its first step in its plans to provide services to European markets”.
City AM reports that Starling Bank chief executive Anne Boden is in Dublin today to start preparations for the bank’s application for a full European banking licence in Ireland.
She previously said: “The first phase of our euro accounts offer is a landmark moment as Starling sets European expansion in its sights for 2019.
“Soon we will have debit cards for the account, taking us one step further down the path of bringing the Starling experience to people living outside the UK.
“Whatever happens with Brexit, the UK will always retain strong ties with Europe. With no extra costs or lengthy burdensome sign-up process, our customers can bank across the Eurozone quickly through their smartphones.”