Recognise Bank Reviews
Recognise Bank is a fully licensed digital bank offering award-winning savings accounts and business funding with excellent service, competitive rates, and FSCS protection.
5
/
5
All is absolutely excellent here : the online interface is first-class : communication is flawless. My Savings Bond was up and running in seconds : email confirmation at each stage of the process was instant : confirmation of payments [text and email] arrive either immediately [if sent *during* the working day] otherwise first thing the next day. The interest rate was Top of the League Tables, too. A model of how online investment through fixed-rate savings accounts ought to be.
Graham C
4
/
5
I recently opened a fixed-rate bond with Recognise Bank. The account creation process was easy to follow online. Competitve interest rate. So far so good...
James Russell
5
/
5
Polite, helpful, friendly customer service. Products competitive. As a new customer very pleased.
Barry Oconnor
1
/
5
A word of warning to prospective customers of this so called "Bank". I tried to open a one year fixed saver only to receive multiple conflicting emails about how to deposit funds i.e, the Reference was "Application Number" in the first email and the "Account number" in the second email. Given this and the fact that the actual Account No / Sort code given was listed as Clear Bank LTD and NOT Recognise Bank, red warning signs were going off. The whole thing seemed suspicious and amateurish. I decided to fire off an email to the support team in order to assuage my fears that this might be a scam. To say the response was wholly insufficient would be an understatement. They didn't even address my concerns at all. After such a poor experience, trusting my savings with them is unthinkable. Would not recommend dealing with this company at all.
Ben
2
/
5
Opened an account on 01 June but can't make a 5 figure sum deposit due to waiting for an "authentcation code" by Snail mail (Royal Mail).No reply to email 07 June asking them to telephone me today at 3pm. Update 09 June:THE letter, dated 03 June, received today with the authentication code which was accepted...BUT"Your nominated UK bank account will be available for online transactions soon. We will send you a message when it is ready."
Rob
5
/
5
Easy to contact, spoke to a human very quickly without having to listen to music for ages!, very helpful and efficient. Easy to open account. Great interest rates
Sarah
Explore Recognise Bank's Finance Solutions:
Loan Type:
Business Term Loans (Unsecured & Secured)
Loan Range:
£10,000 - £500,000 (Unsecured up to £250,000, Secured up to £500,000)
Loan Terms:
1 to 5 years
Minimum Turnover and Trading Age:
Minimum annual turnover £100,000 for unsecured, £250,000 for secured; minimum 2 years trading history
Interest Rate / Factor Rate:
From 7.9% per annum for unsecured, from 6.5% per annum for secured; representative APR 8.2% variable
Fees:
Arrangement fee up to 2% of loan amount; no early repayment fees
Loan Type:
Property Finance (Commercial & Buy-to-Let)
Loan Range:
£100,000 - £5,000,000
Loan Terms:
1 to 25 years
Minimum Turnover and Trading Age:
Minimum 2 years trading history for trading businesses; no specific turnover threshold for pure property investment companies, but rental income must comfortably cover interest
Interest Rate / Factor Rate:
From 4.5% above Bank of England base rate; representative APR 5.1% variable
Fees:
Arrangement fee 1-2% of loan amount, valuation and legal fees payable separately
Loan Type:
Asset Finance (Hire Purchase & Finance Lease)
Loan Range:
£10,000 - £500,000
Loan Terms:
1 to 7 years
Minimum Turnover and Trading Age:
Minimum 2 years trading history; annual turnover typically £100,000+
Interest Rate / Factor Rate:
From 3.9% flat rate; representative APR from 7.5% depending on asset and credit profile
Fees:
Documentation fee £150-£250; no early settlement penalty under Consumer Credit Act regulated agreements, but contractual terms may apply for larger commercial agreements
Loan Type:
Invoice Finance (Factoring & Invoice Discounting)
Loan Range:
£50,000 - £5,000,000 facility; advance up to 90% of eligible invoice value
Loan Terms:
Ongoing facility with a minimum initial contract period of 12 months, then rolling
Minimum Turnover and Trading Age:
Minimum annual turnover £250,000; minimum 2 years trading history
Interest Rate / Factor Rate:
Service fee 0.5% - 3% of turnover; discount charge 2% - 4% above base rate; total equivalent cost varies with debtor days and volume
Fees:
Setup/arrangement fee may apply; ongoing service fee and discount charge; no early repayment fee if terminated at end of contract period
Loan Type:
Loan Range:
Loan Terms:
Minimum Turnover and Trading Age:
Interest Rate / Factor Rate:
Fees:
Loan Type:
Loan Range:
Loan Terms:
Minimum Turnover and Trading Age:
Interest Rate / Factor Rate:
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FAQ’S
How can I contact Recognise Bank if I have a query or complaint?
Is Recognise Bank authorised and regulated in the UK?
Are my savings with Recognise Bank protected by the FSCS, and up to what limit?
What services does Recognise Bank offer?
Can I apply for a loan from Recognise Bank directly through Funding Agent?
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