Starling bank has altered its pricing strategy, removing a money-making feature for customers.
In the coming weeks, the digital bank will be axing interest payments on current accounts and introducing an alternative method for members to save.
Currently, Starling pays 3.25% interest on balances up to £5,000, meaning that a customer with the maximum amount in their account could earn an extra £162.50 per annum.
However, this feature will be completely removed by Monday the 10th of February.
Customers who currently have a sole or joint current account, as well as new customers, will continue to benefit from the feature until this date.
A spokesperson for Starling Bank said: “We continually keep our products under review and have taken the decision to remove current account interest from February 10, 2025,”
“Customers will still benefit from fee-free spending abroad and 24/7 customer service.”
For customers till wanting to save, the easy-access savings account will remain available to customers, paying a 4% interest on consumers savings.
With the easy access savings account, a maximum contribution would provide a £200 interest over 12 months.