Starling Bank has released a brand new bulk payments feature for one of its most profitable sources – business banking customers.
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The new subscription service can be used to help support payroll, reimburse staff expenses or pay suppliers, all at the same time.
Bulk Payments feature is now available to limited companies with a Starling business account and can be accessed through our Online Banking web browser.
For a limited time only, new subscribers can use Bulk Payments for free during their first month. After that, the feature costs £7 per month (VAT exempt) per business account.
“It’s time-saving and has a lower risk of error than entering the payment details manually,” says Paul Freestone, one of the directors of consultancy ChangeNet Solutions.
ChangeNet Solutions opened a Starling business account in 2020. It works with large global companies to support them with strategic changes to their business. ChangeNet Solutions has 30 staff members. “Payroll previously took about an hour. Bulk Payments means it takes around a quarter of that time.”
“We can effectively copy and paste what our accountant provides us, rather than typing in the various amounts that need to be paid.”
With small businesses in the UK accounting for 48% of employment and 36% of turnover in 2021(1), the new feature will save business owners time and effort so that they can focus on growth.
Helen Bierton, Chief Banking Officer at Starling Bank, comments: “Four years ago, we welcomed our first business customers to Starling. Since then, many will have hired their first employee or freelancer, some will have grown into fully-fledged teams, and others will have become more established companies with hundreds of employees.”
“Our Bulk Payments feature supports all these customers’ needs for making regular payments to multiple recipients, freeing up their time so they can focus less on banking and more on building their business.”