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Vanquis Bank

General Information

Overview

Vanquis is part of FTSE 250 listed Provident Financial Group, which comprises four companies – Provident (home credit/doorstep loans), Moneybarn (vehicle finance), Satsuma (pay day and short-term loans) and Vanquis (credit cards, personal loans and savings). Vanquis entered the savings market in 2011.

Banking Licence

Vanquis have their own banking licence which isn’t shared with any other banks

Registration Numbers

Companies House Number: 02558509

Financial Conduct Authority: 221156.

Based: Head office is in Chatham, Kent with offices also in Bradford and Fenchurch Street, London. Savings are administered in Newcastle.

Date Launched: January 2002

FSCS Protected? Yes

Branches: Vanquis Bank doesn’t have any branches

People of Interest

Head of Savings

Vanquis doesn’t have a savings director

Chief Executive

Neil Chandler

Saving Information

No. of Savers

Unknown; estimated at circa 40,000

Amount of Deposits

£1.345bn as of 31st December 2019

Loan Book

£1.461.5bn as of 31st December 2019

Account Opening and Management

How Do I Open a Savings Account

Internet

How Do I Manage a Savings Account

Internet, Post, Telephone

 

Lending Activities

Credit cards – it provides credit cards to help people repair bad credit with limits ranging from £250 - £4,000

Personal loans – unsecured loans for 1 – 3 years for amounts from £1,000 - £5,000

Reviews

Feefo Reviews

No reviews on Feefo

Savings Guru Verdict

Historically, Vanquis have offered competitive rates in the four- and five-year fixed rate bond categories but not much else for savers.  This has changed in 2020 with some attractive rates on shorter term fixed rate bonds.

Vanquis Bank has been a very profitable member of the Provident Group and contributed £173m of profit in 2019.  They have a new MD in place in ex-Sainsbury’s Bank CEO, Neil Chandler, who appears to be driving significant positive changes at the Bank.  It remains to be seen if this will extend to the savings division of the Bank.

Contact Information for Vanquis Bank

Contact Details

Vanquis Bank Savings,
Freepost RSGY-CKJA-BKCS,
PO Box 1279,
Newcastle upon Tyne,
NE99 5BR

Telephone: 0191 505 0033
Website: www.vanquissavings.co.uk/
Email: customerservice@vanquissavings.co.uk

Open: Monday to Friday, 9am – 5pm.

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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