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Starling Bank launches accounting software integration for multi-currency accounts
If you run a UK business and regularly need to send, receive or hold euros or dollars, Starling’s multi-currency accounts could save you time, money and stress.
Whether it’s paying suppliers in Italy or receiving payment from clients in the US, Starling’s multi-currency business bank accounts can make payments simpler, especially now that they’ve expanded their integration with Xero.
Online accounting software from Xero is one of the many options available in the Marketplace, the section of the app where you can connect to third-party products and services.
If you connect your Starling multi-currency account to Xero, transactions made from that account in euros or dollars will automatically feed through to Xero in real time.
What can you do with euro and US dollar accounts?
- Hold, send and receive euros and dollars and use a single debit card to manage all your Starling business accounts
- Get your own local account details including IBAN for Europe and account/ACH routing number for the US
- Weekend transfers. Transfer money between your Starling accounts 24/7. You’ll always see the exchange rate before the conversion is made
- Benefit from some of the best exchange rates and fees on the market if you convert euros or dollars back into pounds
- No hidden fees. They use the actual market rate that they’re charged for buying and selling currencies and 0.4% conversion fee
You can also connect your US dollar and/or euro account with Xero, provided you have a Xero Premium subscription.
If you choose to connect to Xero and have a premium subscription, their new integration means that the income and outgoings from both your GBP and your multi-currency business accounts will be fed through to Xero in real time.
That way, everything can be kept organised and up to date, making life easier for both you and your accountant.
Three month promotion for multi-currency accounts in November 2021
This November, if you sign up to a Starling euro or US dollar account for business, they’re running a multi-currency account promotion.
You’ll receive your first three months subscription free, for either or both of our multi-currency accounts, provided you apply for your multi-currency account in November 2021.
Important things to note;
- US dollar accounts are only available to limited company businesses
- Euro accounts are available to both limited businesses and sole traders
When the promotion ends on 1 March 2022, you’ll pay £5 per month for a US dollar account and £2 per month for a euro account.
Applying for a multi-currency account
If you’re already a Starling business customer, you can apply for a euro or US dollar business account through the Starling app. Simply go to the main menu and tap ‘Open a new account’.
Before you can apply for a Starling euro account or US dollar account, you’ll need to have a Starling GBP business account. You can apply for a Starling business account by downloading the app.
Personal customers can also apply for a personal euro account – with no monthly fees. You’ll need to be up and running with your personal account, before you apply for a euro account.
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