Article Summary
Choosing the right business account is a critical decision for any Startup, two of the most popular options are the Revolut Business Account and the Starling Business Account. Both of these digital-first banking solutions offer a range of features tailored to the needs of small businesses, but which one is the best for Startups? In this detailed comparison, we will explore the key differences between the Revolut vs Starling Business Accounts, looking at features, fees, ease of use, and more, to help you decide which is the best fit for your Startup.
Why Choosing the Right Business Account is Crucial for Startups
For startups, having the right business account can make all the difference. Efficient banking can save time, reduce costs, and help manage finances smoothly. We’ll explore two of the most popular digital-first options: Revolut Business and Starling Business.
Revolut Business Account Overview
Revolut offers a flexible and feature-rich business account tailored to startups. Some of the key features include:
- Multiple Currencies: Hold, exchange, and send money in over 30 currencies.
- Integrations: Seamlessly integrates with accounting platforms like Xero and QuickBooks.
- International Payments: Low fees on international transfers.
- Metal Plan: Premium features such as unlimited free local payments and perks.
Pros:
- Wide range of features and plans.
- Competitive fees for international transactions.
- Excellent integration with business tools.
Cons:
- Limited customer support for free account users.
- Certain features are locked behind premium plans.
Starling Business Account – Key Features for Startups
Starling Bank is another top choice for startups, known for its transparent pricing and innovative features:
- Free Business Account: No monthly fees for standard accounts.
- Overdraft & Loan Options: Flexibility for startups needing extra funds.
- Accounting Tools Integration: Real-time syncing with accounting platforms.
- In-App Financial Management Tools: Insights on spending and cash flow.
Pros:
- No monthly fees for the basic account.
- 24/7 UK-based customer support.
- Interest on balances for business accounts.
Cons:
- Limited international currency options compared to Revolut.
- Fewer premium tiers for businesses needing advanced features.
Comparing Fees: Revolut vs. Starling Business Accounts
Revolut Business Fees:
- Free account with limited features.
- Paid plans starting from £25 per month, including perks like priority support and metal cards.
- International transfers have fees based on exchange rate margins.
Starling Business Fees:
- No monthly fees for standard business accounts.
- Small fee for cash deposits (0.7% at the Post Office).
- International payments come with a small fee but are still competitive.
Which is more affordable for startups? Revolut’s premium tiers offer more features, but for startups with limited budgets, Starling’s free account can be a big plus.
Comparing Features for Startups: Revolut vs. Starling
When it comes to features, both banks are geared toward modern, fast-growing businesses:
- Multi-currency management: Revolut excels here, making it ideal for startups with international clients.
- Financial Insights & Analytics: Starling offers better financial insights for cash flow management.
- Business Loans & Overdrafts: Starling provides flexible loan options, while Revolut focuses more on day-to-day transaction efficiency.
Customer Support & User Experience: Revolut vs. Starling
- Revolut: Known for its sleek mobile app, Revolut offers 24/7 chat support, but free users often experience delays.
- Starling: Offers round-the-clock support with a UK-based team. Its user-friendly app consistently receives praise for its simplicity and ease of use.
Which Business Account Should You Choose?
Choose Revolut if:
- Your startup deals with international clients and needs to manage multiple currencies.
- You need more advanced business tools, integrations, and are willing to pay for premium plans.
Choose Starling if:
- You’re a UK-based startup looking for a free, easy-to-use account.
- You value robust customer support and want interest on your balance.
Final Verdict: Revolut or Starling for Your Startup?
Both Revolut and Starling offer excellent business banking solutions for Startups. Your choice depends on your specific business needs. If international transactions and advanced features are essential, Revolut may be the better fit. On the other hand, if you’re looking for a no-fee, straightforward banking experience with strong UK-based support, Starling should be your top pick
