Ikano Bank
General Information
Overview
Ikano Bank is owned by the family that founded Ikea and has operated in the UK since 1994. It entered the savings market in December 2015 and has offered a range of fixed rate bonds since.
Banking Licence
Ikano in the UK is a branch of Ikano Bank, which is regulated by the Swedish Financial Supervisory Authority (Finansinspektionen). Ikano is regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority
Registration Numbers
Swedish Company Registration Number: 011153
Financial Conduct Authority: 409120
Based: Head Office is in Nottingham but its savings business is based in Newcastle
Date Launched: December 2015
FSCS Protected? Yes. From 1 January 2021, savers are protected by the UK Financial Services Compensation Scheme.
Branches: None
People of Interest
Head of Savings
Anita Necipor
Chief Executive
Paul O'Leary is Country Manager
Saving Information
No. of Savers
234,000 (UK proportion unknown) as at 31st December 2019
Amount of Deposits
£2.2bn (UK proportion unknown) as at 31st December 2020
Loan Book
£2.91bn as at 31st December 2020
Account Opening and Management
How Do I Open a Savings Account
Internet
How Do I Manage a Savings Account
Internet, Telephone
Lending Activities
Ikano have three principle areas of lending:
* Ikea store cards
* Personal loans
* Retail finance - providing finance to other retailers to enable them to offer finance to their own customers
Reviews
Feefo Reviews
Trustpilot Reviews
Savings Guru Verdict
Ikano has historically figured in our best buy tables with some competitive fixed rate bonds, particularly on 3, 4 and 5 Year terms but has been absent in 2021. It does offer an easy access account, but this is currently unavailable for new applications and has been for over a year. It was often overlooked by savers, as it relied on the Swedish compensation scheme, but since January 2021 savers have been protected by the UK Financial Services Compensation Scheme.
Contact Information for Ikano Bank
Contact Details
Savings:
Ikano Bank,
Savings Department,
PO Box 1328,
Newcastle Upon Tyne
NE99 5EA
Head Office:
Waterfront House,
Waterfront Plaza,
Station Street,
Nottingham
NG2 3DQ
Telephone: 0371 880 6182
Website: www.ikano.co.uk
Email: No email address
Opening Hours: Monday - Friday 9am - 5pm