Aldermore Bank

Dolly_Mixture

I have recently opened a 120 day notice account with Aldermore Bank through a link on this site.  My husband is very concerned that this may be a scam as it came up on the FSC website that their site had been cloned in 2019. I wondered if anyone else had used Aldermore Bank and if they found them to be legitimate?

colsten

FSC website sounds like a clone...................

Aldermore Bank are just fine if you use them through their website and stay within the £85K limit. 

eskbanker

The real bank is legitimate but the clone obviously isn't - https://www.fca.org.uk/news/warnings/aldermore-clone-fca-authorised-firm explains how to spot the difference between them.

Dolly_Mixture

Thanks for your help everyone.  My husband is very suspicious of a bank he has never heard of but luckily I have opened an account with the legitimate one.

Dolly

Albermarle

Dolly_Mixture said:

Thanks for your help everyone.  My husband is very suspicious of a bank he has never heard of but luckily I have opened an account with the legitimate one.

Dolly

There are lots of smaller banks that most people have never heard of .
Normally they just offer savings accounts and not current accounts or other add ons like home insurance etc 
If they appear in well known savings comparison sites like moneysupermarket or moneyfacts or moneysaving expert , then you can be  sure they are OK .

RetSol

I have deposited cash with Aldermore via Hargreaves Landsdown Active Savings.  They are "legit" - just make sure that you are dealing with  Aldermore Bank and not with a clone.  I have to say though that, these days, I spread my savings around more than I used to.  The savings market is niche.  The best rates are to be found with the likes of Aldermore who, whilst they may be "legit", are niche institutions, not big players.  I know that I have the benefit of the FSCS guarantee but I sleep better knowing that, if push comes to shove, I'll be waiting for FSCS  to pay out on nearer £5,000 than £50,000.