[UK] Starling Bank adds bulk payments to business banking accounts

Starling Bank has developed a ‘two birds one stone’ feature to allow UK small businesses to make bulk payments to multiple recipients at once, The Fintech Times reports.

The bank’s Bulk Payments feature has been launched to process payments at scale for businesses and facilitate multi-volume transactions.

The subscription service will reportedly be offered to the bank’s UK online business banking customers for £7 a month. It can be applied to payroll, staff reimbursements, expenses and supplier payments.

For a limited time, new subscribers can also use Bulk Payments for free during their first month.

The UK’s small businesses accounted for 48 per cent of employment and 36 per cent of turnover in 2021.

Starling Bank’s official announcement earlier week explained how the feature is intended to “save business owners time and effort’ when making frequent payments to multiple recipients while ‘helping businesses to grow”.

Starling established its business banking services four years ago and those four years have reportedly brought great change to what is now an ecosystem of businesses currently working with the bank.

Helen Bierton - Starling Bank’s chief banking officer - said, “Since [2018], many will have hired their first employee or freelancer, some will have grown into fully-fledged teams, and others will have become more established companies with hundreds of employees.

“Our Bulk Payments feature supports all these customers’ needs for making regular payments to multiple recipients, freeing up their time so they can focus less on banking and more on building their business.”

Source: The Fintech Times

(Links and quote via original reporting)

Starling Bank has developed a ‘two birds one stone’ feature to allow UK small businesses to make bulk payments to multiple recipients at once, The Fintech Times reports.

The bank’s Bulk Payments feature has been launched to process payments at scale for businesses and facilitate multi-volume transactions.

The subscription service will reportedly be offered to the bank’s UK online business banking customers for £7 a month. It can be applied to payroll, staff reimbursements, expenses and supplier payments.

For a limited time, new subscribers can also use Bulk Payments for free during their first month.

The UK’s small businesses accounted for 48 per cent of employment and 36 per cent of turnover in 2021.

Starling Bank’s official announcement earlier week explained how the feature is intended to “save business owners time and effort’ when making frequent payments to multiple recipients while ‘helping businesses to grow”.

Starling established its business banking services four years ago and those four years have reportedly brought great change to what is now an ecosystem of businesses currently working with the bank.

Helen Bierton - Starling Bank’s chief banking officer - said, “Since [2018], many will have hired their first employee or freelancer, some will have grown into fully-fledged teams, and others will have become more established companies with hundreds of employees.

“Our Bulk Payments feature supports all these customers’ needs for making regular payments to multiple recipients, freeing up their time so they can focus less on banking and more on building their business.”

Source: The Fintech Times

(Links and quote via original reporting)