You can hold a substantial amount of money in Starling Bank, with specific limits varying depending on the type of account or savings product you use. For instance, you can deposit up to £1,000,000 across all your Fixed Savers.
Starling Bank offers various account types, each designed for different financial needs, and while current accounts typically don't have an explicit maximum balance limit, specific savings products do. Understanding these distinctions is key to knowing how much money you can manage with Starling.
Fixed Saver Deposit Limits
Starling Bank provides specific maximum deposit limits for its Fixed Saver accounts. As a key feature, individuals can accumulate significant savings within these products.
- Maximum Deposit: You can hold up to a maximum deposit of £1,000,000 across all the Fixed Savers you may have with Starling Bank. This allows for substantial long-term savings with a fixed interest rate, such as their 1-year fixed rate savings.
For more details on their Fixed Savers, you can visit the Starling Bank Fixed Rate Savings page.
Current Account Balances
For personal current accounts, Starling Bank does not publicly state a maximum balance limit. While technically you could hold a very large sum, practical considerations and financial protection limits are more relevant.
- No Explicit Maximum Balance: Unlike Fixed Savers, there isn't an advertised upper limit on the balance you can hold in your everyday Starling current account.
- FSCS Protection: It's important to note that deposits with Starling Bank are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per eligible person, per authorised institution. This means that if Starling Bank were to fail, the FSCS would compensate you for losses up to this amount. While you can hold more, only this amount is government-protected.
Understanding Starling Bank's Limits
Here's a summary of key limits and considerations for holding money with Starling Bank:
| Account Type | Maximum Holding / Protection Limit | Details |
|---|---|---|
| Fixed Savers | £1,000,000 | Maximum cumulative deposit across all Fixed Saver accounts. Interest rates apply (e.g., 4.05% AER for 1-year fixed rate). |
| Current Account | No explicit maximum balance | While there isn't a stated upper limit, funds beyond the FSCS limit are not protected in the event of the bank's failure. |
| FSCS Protection | £85,000 | Per eligible person, per authorised institution. This is the amount of your money protected if Starling Bank were to go out of business. |
Starling Bank's focus on digital banking means that most day-to-day transaction limits relate to individual payments rather than overall balance. For larger sums, Fixed Savers provide a structured way to hold significant deposits.
For general terms and conditions regarding current accounts, refer to the Starling Bank official website.
