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Do you recommend Starling bank for day to day bank

Do you recommend (Starling, Revolut, Tide) for B2B SaaS startups which raise $1- $5m in Investment?

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Challenger banks (Starling, Revolut, Tide) for B2B SaaS startups which raise $1- $5m in Investment and will trade with UK, US and European markets.

Do you recommend as part of the banking tools? Are they secure? Do they integrate with other systems?

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By Mr_awol
17th Apr 2020 11:53

I think these banks serve a purpose, generally for very small startups or (dare I say it) anyone that refers to themselves as a contractor, freelancer, etc. I also think they attract a certain type of advisor.

I've got to be honest - I would have thought that any corporate entity raising xMillion (in $ or £) at the outset and planning to trade internationally would probably be better served elsewhere.

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By [email protected]
17th Apr 2020 12:41

Thanks for that. Exactly what I was thinking! Which high street bank do you recommend? I have used Barclays in the past and although the system is clunky it works well once you've got through the initial pain.

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By Mr_awol
17th Apr 2020 14:53

Depends on who locally 'fits' the client.

My local Barclays team are pretty good in the £2m-£5m bracket. The Lloyds chap is rubbish (although just been replaced so we will see what happens there).

Yes it's important to consider the bank as a whole, particularly if the client is too small to warrant a dedicated account manager, but if they are big enough for personal service then you really need to look at what the people involved are like in your/the client's area.

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By [email protected]
17th Apr 2020 12:39

Thanks for that. Exactly what I was thinking!

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