UK digital bank Starling has released the availability of dual-currency debit cards, enabling business and personal customers to spend directly in pounds or euros.
The new project has been developed to support Starling’s 77,000 business customers make transactions across the Eurozone and reduce currency exchange costs.
Anne Boden, founder and chief executive of Starling Bank, said: “A single card that can buy things in both euros and pounds is long overdue and something that we know our customers will value both in their personal and business lives.”
The launch coincides with the roll out of the challenger banks business euro account which aims to ease cross-border processes with customers and businesses within the eurozone.
With reduced exchange rate risks, the business account features no fees for euro to euro transactions.
Boden continued: “Businesses of all sizes have customers and suppliers spread across different countries.
“Our new business euro account will make a huge difference to these kinds of business customers, who are regularly carrying out international transactions whilst operating on a tight budget.”
According to Starling, customers will be charged a flat fee of £2 per month to use the business euro account and transfers into the account will be made at the prevailing exchange rate, plus a 0.4% fee (of the transaction value).
“These latest features represent another milestone in our mission to transform banking into a truly international, 24/7 service and demonstrate once again that we have come a long way towards that target in a short space of time,” concluded Boden.
