While Starling's total number of accounts may trail other big UK neobanks, it could have an edge over competitors due to the sustainability of its growth:
In particular, two factors set Starling apart and could contribute to its profit potential:
The neobank claims its average deposits are higher than other challenger banks. Starling's last publicly disclosed deposit total was £800 million, but Boden said he expects it to reach £1 billion in the coming weeks. If it manages to do so and it has 1 million customers, its average deposits per account can be estimated to be around £1,000 .
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