Ikano Bank

Woodlander

Afternoon all, Just wondering if anyone has any experience of the Swedish Bank Ikano. Am considering a 12 month fixed rate bond at 1.60%. Thanks.

ColdIron

Not a red traffic light but they don't seem to be covered by the FSCS but rather by the Swedish Deposit Insurance Scheme

They do say :

'In the event of a bank failing, any communication about compensation under this scheme would be in English and would come from the Financial Services Compensation Scheme (FSCS) based in the UK, also any money paid back to you would be in pounds sterling'

The protection and limits are equivalent but at the end of the day you would dealing with a Swedish organisation

Woodlander

Thanks, ColdIron, will bear it in mind

badger09

Woodlander wrote: »

Afternoon all, Just wondering if anyone has any experience of the Swedish Bank Ikano. Am considering a 12 month fixed rate bond at 1.60%. Thanks.

Why?

Have you exhausted the many current accounts offering up to 5% or regular savers up to 6% with full FSCS protection?