Major bank to AXE key money-making feature from popular account in weeks
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A MAJOR bank is axing a key money-making feature from all current accounts in weeks. Digital bank Starling is ending interest payments on current accounts for all customers in February. As the moment, the bank pays 3.25% interest on balances up to £5,000.
![[Illustration of the Starling Bank logo on a smartphone screen.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/starling-bank-logo-seen-illustration-908904689.jpg?strip=all&w=960){kind=logo}
This means that a customer with the maximum amount in their account could earn an extra £162.50 a year in interest. However, this feature will be removed entirely on Monday, February 10. Customers who currently have a sole or joint current account with Starling will continue to benefit from the perk, as well new customers, 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 still wanting to save with Starling, the bank has introduced an easy access savings account paying 4% interest. Saving £5,000 into this account would yield £200 in interest over 12 months. However, customers could still get a better savings rate elsewhere.
Over a quarter of adults (28%) keep their earnings in current accounts that pay no interest, according to the Building Societies Association (BSA). Most major high street banks do not offer any interest on current account deposits. This means millions of Brits are missing out on free cash because they keep their savings in the wrong account.
