Atom Bank

Rosemary_Johnson

Is Atom Bank secure?

Eric_the_half_a_bee

Rosemary_Johnson wrote: »

Is Atom Bank secure?

I hear it's about to split, or even worse merge, and cause a catastrophic chain reaction throughout the banking industry.

badger09

Rosemary_Johnson wrote: »

Is Atom Bank secure?

Does this help?

https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000i8ezfAAA

darren72

I pre-registered for Atom Bank a very long time ago and have heard nothing since - Have they actually issued any invitation codes to anyone yet !? - As you need one of those to actually open an account.

moi

darren72 wrote: »

Have they actually issued any invitation codes to anyone yet !?

I've had one, yes

darren72

moi wrote: »

I've had one, yes

That is good news. I shouldn't give up just yet then

MattGb

They are most definitely secure. They are held to the same regulations as other banks and most probably have newer, better integrated systems which are better suited to today's digital risks.

Elijah_Bailey

This is just to confirm the invitation codes do eventually appear and the account set up is simple enough.

But please be aware, at the moment, you will have to use Apple products (minimum IOS 8.0) as Android / Windows apps are not released yet.

Elijah_Bailey

I cannot find any other fixed rate 1 year accounts with 2% or 2 years offering 2.2% but I am happy to be proved incorrect.

Most banks want 5 years for these rates and I think it is realistic to assume most current account rates are about to fall (based on the Santander drop and the current account reviews happening at Lloyds and Halifax).

From my own research I know Atom are FCA registered and are part of the FSCS which protects my money, so the risk is minimal compared to my S/S ISA.

I must admit even with that financial protection in place I did a little research of the people behind it to make sure they had a good and solid history of banking experience.

BeachNut

Although at present Atom has a customer deposit limit of £10,000 across your accounts.

joe134

BeachNut wrote: »

Although at present Atom has a customer deposit limit of £10,000 across your accounts.

Just found that one out.
Hardly inspiring is it.
That's probably why it's not been pulled.
I would willingly transfer my £60k plus, from, 123 a/c's into it now, but for that rule.