STARLING BANK LIMITED
Company number: 09092149
Reporting period:
1 April 2023 to 30 September 2023
Report filed on:
27 October 2023
Approved by:
Declan Ferguson
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
Starling's standard payment terms are 30 days. Starling works with suppliers to meet payment terms that work for both parties.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
1. Email accounts@starlingbank.com: to understand the problem. If resolved, payment is made. If not, escalated to the Vendor Management team to manage according to supplier allocations across all key vendors/other vendors, preferred supplier lists and vendor list.
2. Email to Vendor Management: direct bilateral exchange in a time bound manner to resolve problems.
3. If required, Stakeholder can be queried for a position/decision on invoice query.
4. This process can be overseen by Vendor Management who compile and produce invoices that are required for approvals by Accountable Executives and this channel can be used for disputed invoices.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No