How to check bank

akkers

I have joined a non-high-st bank; they only have one branch somewhere. Banking is done mainly online. I have received their paperwork which lists the FSCS guarantee etc.

So how do I check this bank and ensure its not an online scam or something?

DullGreyGuy

https://www.fscs.org.uk/check/check-your-money-is-protected/ will confirm the monies are protected by the FSCS

https://www.fca.org.uk/consumers/fca-firm-checker confirms that they are regulated and for what activities by the PRA and/or FCA

Are you sure they are actually a bank? There are plenty of Electronic Money Institutions out there that may look and feel like a bank in many sense they arent legally banks.

Zinger549

What is the name of the bank?

friolento

Can you please post a link to the bank’s web site 

akkers

Its Al Rayan bank. I have checked and they are in the FSCS list. However, the bank do not quote the FRN no. anywhere and when checking you can only go on name.

Ayr_Rage

Al Rayan Bank has been around for years and is fine as long as you are happy with Islamic banking principles.

There is no interest, however when I've had accounts with them the predicted profit rate has always been achieved.

Personally, I have found their telephone customer service excellent, always polite and helpful.

flaneurs_lobster

akkers said:

Its Al Rayan bank. I have checked and they are in the FSCS list. However, the bank do not quote the FRN no. anywhere and when checking you can only go on name.

It's on their website but it takes a bit of finding

https://www.alrayanbank.co.uk/investor-relations-company

GeoffTF

Make sure that you check the banks' web address and other contact details against the FCA register. Do not trust any other source.