Makes money management easier by matching specific bills against allotted savings
Starling Bank introduced a money management solution. Source: shutterstock.com
Starling Bank has introduced Bills Manager, to help customers pay their bills on time and better manage their money.
The new feature provides customers with the ability to have a Direct Debit or standing order taken from money set aside in any of their ‘Savings Spaces’.
Spaces is the section of the app that allows customers to set money apart from their main balance for specific savings goals.
When customers use this feature and payment is due (for example, for rent or bills), the money required to make the payment will be taken from the Space, rather than the main account balance. It makes budgeting and managing bills much easier.
To get started with Bills Manager, customers can go to their Savings Space, tap ‘Manage Space’, then ‘Pay bills from this Space’. They can then choose which Direct Debits or standing orders they would like to pay from each Space.
Customers receive a notification when their bills have been paid and can view the transactions by going into the Space and clicking “View transaction history”.
If there are insufficient funds in their Bills Manager Space to make a scheduled payment, Starling will send the customer three notifications the day before the payment is due and twice on the payment due date. If the funds are still missing, the bill will not be paid.
Bills Manager is available to all personal and joint current account holders with immediate effect and is free to use.
We’ve reported that Half of Hispanic Gen Z’s were never offered a financial education class in school.
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