Got a question?

Ikano's frequently asked questions and answers

Retail loans

Which retailers does Ikano Bank provide loans for?

We offer loans with a number of well known retailers, to help make those big purchases more affordable. Find out more about which retailers we work with.

Can I pay off my loan early?

If you want to pay off your loan early, call us on 0371 781 3057* or write to us at:

Ikano Bank AB (publ)
P O Box 10081
Nottingham
NG2 9LX

We'll let you know:

  • how much you need to pay (‘settlement balance’)
  • when you need to pay us by (the ‘settlement date’)
  • how much interest you will save by paying back early

If you don't think you will be able to repay the full amount by the date given ('settlement date'), let us know. We can provide a new settlement balance.

No additional charges for early repayment

There's no charge for repaying your loan early but your settlement figure will include up to 58 days interest, in line with the Consumer Credit (Early Settlement) Regulations 2004.

Keep up to date with your payments

If you have requested an early settlement figure from us, you still need to make sure you keep up with your monthly payments until your loan is fully paid off. If you do overpay, we will send you a refund.

You can pay by phone using a debit card, or transfer the money directly from your bank account.

*We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

What can I do if my application is declined?

If you have applied for a loan which we've been unable to approve, you can ask for the decision to be reviewed.

To do this, please write to us -

Ikano Bank AB (publ)
P O Box 10081
Nottingham
NG2 9LX

Please include a recent copy of your credit report and any other additional financial information that you feel we should be aware of.

 

We will respond to your appeal within 14 days. We may need to call you to discuss your appeal. We'll write to you to confirm the decision.

How can I pay my loan back?

All loans must be paid using a Direct Debit.

If you have any problems with your direct debit or need to amend an existing one, please call us on 0371 781 3057*. 

* We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

Can I make additional loan payments?

You can make additional payments at any time by calling us on 0371 781 3057*

If you make additional payments, the amount of your monthly payment (Direct Debit) will not change. But you will pay off you loan quicker (i.e. we will take fewer monthly payments).

* We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

 

When will I receive my statement?

You will receive a statement annually in the post. This statement will show how much you originally borrowed, your current balance, any interest charges and a summary of any payments made to us.

I have a question about the goods I purchased from the retailer

If you have a question or complaint about a product you've used Ikano Finance to purchase through one of our retailer partners, you should contact them directly. We do not have access to all of the information held by the retailers, so unfortunately we can't help with product or delivery questions.

Can I change the date of my payment?

The first payment of all loans is on a set date based upon your date of application. Once the first payment has been made, you can call us on 0371 781 3057* to change the date of the remaining payments. For other ways to get in touch, see the Contact us page.

* We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

Store cards

What is a credit limit?

Your credit limit is the maximum amount of credit you can borrow on your store card.

What is the 'statement date'?

The statement date is the date each month your statement is generated. You should receive your statement approximately 10 days after this date. This date will be the same every month.

What is the 'payment date'?

This is the date your payment must reach your account by. Always allow a minimum of 5 working days prior to this date to make your payment.

What do I do if my store card is lost or stolen?

If you have lost your card or believe it to be stolen, please contact us immediately on:

0371 781 3080*

Or +44 371 781 3080 if you're calling from abroad.

Our lines are open at the following times:
weekdays 8.30am-9pm
Saturdays 8.30am-8.30pm
Sundays 10am-1pm
Don't forget you can also contact our automated service to check your balance or make a payment 24 hours a day, 7 days a week.

*Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

What is the minimum payment?

This is the minimum payment amount due each month based on the amount of credit owed.

If there is a balance on your account we will require a payment of at least the minimum amount each month. For the Warehouse card this is 4% of the outstanding account balance or £4, whichever is greater. 

For the Oasis, Karen Millen or New Look cards this is 3.65% of your balance, or £3.65, whichever is the larger amount.

How is interest charged?

We will charge interest from the date of the purchase until the date the outstanding balance is paid in full. Promotional rates may not apply if you do not make the minimum payments by the due date.

How is the 'estimated interest' calculated?

This is the estimated amount of interest payable next month assuming no transactions are made and based on paying only the minimum by the due date.

How do I find out about recent transactions?

If you have a store card with us, you can log in to your account using online account management to view recent transactions, your current balance and any payments due.

Set up access to your account here

Log in to your account here

If you would prefer to speak to one of the team, call us on 0371 781 3080.*

*We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm.To maintain a quality service, and for security reasons, we may monitor or record phone calls. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

 

Payment enquiries

How do I make a payment?

Online

To make a store card payment, click here to be taken through to our secure payment processing site.
These payments may take up to 72 hours to show on your account.

In store

If you are a New Look cardholder you can make a payment in any of their stores. Just remember to have your New Look Card with you.

By Direct Debit

Call us on 0371 781 3080* to set up a new Direct Debit or amend an existing one to pay the minimum amount or your full outstanding balance each month. For other ways to get in touch, see the Contact us page.

By telephone

Call us on 0371 781 3080* to make a debit card payment using our automated payment system. These payments may take up to 72 hours to show on your account.

By standing order, internet bank and telephone banking

When paying by Standing Order please quote the following details to your bank or service provider:

Ikano Bank AB (publ). Sort code: 40-02-50. Account number: 81341561 These are different to those on the payment slip

  • Please always quote your 16 digit account number shown on the front of your statement
  • Please ensure that you instruct your bank or service provider to make payment 5 working days before your due date
  • You may choose the amount that you pay each month, however we will always require a minimum amount as detailed on your monthly statement

At your bank

Payments can be made at any UK bank using cheque, cash or postal order

By post

You can send a cheque payment by using the pre-addressed envelope enclosed in your statement.

Please enclose the Bank Giro Credit slip with your payment. Print your account number on the reverse of the cheque.

If you have lost your pre-addressed envelope please use the following address:

Ikano Bank AB (publ), PO Box 862, Camberley GU15 9XT

* We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

My payment isn't showing on my account, what should I do?

Please make sure you have allowed 5 working days from the date you made the payment. If your payment is not showing after 5 days, please check with your bank before contacting us.

If your bank cannot assist you after this time, contact us and we'll look into this matter for you.

How can I set up a direct debit?

Simply call us on 0371 781 3080* to set up a new Direct Debit or amend an existing one to pay the minimum amount or your full outstanding balance each month. For other ways to get in touch, see the Contact us page.

*Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

What happens if I miss a payment or my payment is late?

We may impose a late payment fee if your payment is missed or late. This will also be noted with the Credit Reference Agencies.

How long will my payment take to reach my account?

Payments made via our secure website or automated telephone system may take up to 72 hours to show on your account.

For all other payment methods, please allow a minimum of 5 working days to allow your payment to clear.
Please remember Bank Holidays are not classed as working days.

Can I pay via 'Faster Payments'?

As Ikano are not a payment service provider, we are not part of this scheme.

Please ensure you continue to allow a minimum of 5 working days for all payments.

How can I avoid incurring late payment fees?

Ikano would encourage all customers to set up a monthly direct debit to provide peace of mind that you won't forget to make your payments.

Please call us on 0371 781 3080* to set up a new Direct Debit. For other ways to get in touch, see the Contact us page.

*Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

Purchase enquiries

I have not received my online order

Please contact the retailer in the first instance to resolve any order queries.

Find the contact details of the store

How do I dispute a transaction?

Most disputes can often be resolved quickly by speaking to the retailer directly. If you are unable to resolve your query with the retailer, please contact us so we can help you.

How do I return incorrect or faulty goods?

If you have any queries about your purchase, please contact the store at which you made the purchase. Please keep your till receipt as a record of your transaction.

Find the contact details of the store

When will my refund appear on my account?

Please allow up to 14 working days for any refunds to show on your account. All refunds will be shown on your statement.

Payment difficulties

What should I do if I can't make my payment this month?

We appreciate circumstances can change which may mean meeting payment obligations could be challenging. If you are struggling to make your payment, please contact us immediately. We have trained advisors who can help you.

Where can I receive guidance to help manage my money?

Ikano has a team of trained advisors to help with any problems in maintaining payments on your account. Please contact us to discuss your options.

If you would like independent advice, there are several organisations who can provide free help and support.

Citizens Advice

For advice and information on debt and other topics, visit your local Citizens Advice Bureau (address in the phonebook) or go to www.adviceguide.org.uk (England & Wales), www.cas.org.uk (Scotland) or www.citizensadvice.co.uk (Northern Ireland).

National Debtline

If you live in England, Wales or Scotland phone 0808 808 4000 or visit www.nationaldebtline.co.uk for debt advice and information.

Advice4DebtNI

If you live in Northern Ireland phone 0800 917 4607 or visit www.advice4debtNI.com for debt advice.

Money Advice Scotland

If you live in Scotland, phone 0141 572 0237 or visit www.moneyadvicescotland.org.uk

StepChange Debt Charity

For debt advice throughout the UK phone 0800 138 1111 or visit www.stepchange.org

Protecting your account

What do I do if my store card is lost or stolen?

If you have lost your card or believe it to be stolen, please contact us immediately on:

0371 781 3080

Or +44 371 781 3080 if you're calling from abroad.

Our lines are open at the following times:
weekdays 8.30am-9pm
Saturdays 8.30am-8.30pm
Sundays 10am-1pm
Don't forget you can also contact our automated service to check your balance or make a payment 24 hours a day, 7 days a week.

Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

How do I protect myself from identity theft?

The following information is provided by the Finance and Leasing association. More information can be found at www.fla.org.uk or at www.identitytheft.org.uk/

Top tips to protect yourself from Identity fraud

  • Never give personal or account details to anyone who contacts you unexpectedly.
  • Cancel any lost or stolen credit or debit cards immediately.
  • Check bank and credit card statements as soon as they arrive, and contact the company concerned immediately if they include items that you do not recognise.
  • When throwing away documents that are useful to identity criminals – such as credit card receipts, bank statements, bills and other correspondence showing your name and address – shred them before binning them.
  • Regularly get a copy of your personal credit record from a credit reference agency to check that it does not include any entries that you do not recognise. Try Experian, Call Credit or Equifax.
  • If you move house, use Royal Mail’s redirection service for at least a year, to stop your post from going to your old address. Also, don’t forget to give your new address to your bank, your lender and all other organisations that you deal with.
  • Make it difficult for criminals to find out what your passwords are: 
        o Never use the same password for more than one account. 
        o Never use your bank password on other websites. 
        o Avoid using your mother’s maiden name or family dates of birth as passwords. 
        o Keep passwords safe and never record them in a way that leaves them open to theft, such as in your purse or wallet.

How do I know emails from Ikano are genuine?

Please be assured, Ikano will never send emails requesting you to provide any confidential information such as bank details, personal information or card details.

If you receive any emails of this nature, do not provide the information requested. Simply forward the email to customerservice@ikano.net advising that you believe you have received a hoax email.

General enquiries

How do I contact Ikano Bank?

Call us

If you need to talk to us about your account, please call us on 0371 781 3080* and one of our team will be happy to help. 

+44 371 781 3080 if you're calling from abroad.

Email us

If you have a general enquiry which is not related to your account, you can email us at customerservice@ikano.net

Please remember if your query is related to your account and to keep your details safe we will not be able to resolve it by email.

Write to us

If you would like to send us a letter, please use the following address:

Ikano Bank AB (publ)
P O Box 10081
Nottingham
NG2 9LX

*Our lines are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm. To maintain a quality service, and for security reasons, we may monitor or record phone calls. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

I have moved, how do I change my address?

Please call us on 0371 781 3080* immediately and we will update your account. For other ways to get in touch, see the Contact us page.

I need to change my bank details

Please call us on 0371 781 3080* immediately and we will update your account. For other ways to get in touch, see the Contact us page.

Additional ways of receiving your documents

If you would like to receive documents in large print, Braille or audio, please call our customer services team on 0371 781 3080. For other ways to get in touch, see the Contact us page.

What is a credit reference agency?

Credit reference agencies are independent organisations that hold information about adults living in the UK - including whether you're on the electoral roll, financial products you have, how much you currently owe and how well you've managed any financial products you've had (for example – have you missed any payments, any county court judgments etc). Lenders can request information about you to help them make a decision about lending you money (this is called a credit search). 

There are 3 main credit reference agencies in the UK (Experian, Callcredit & Equifax). For more information about Experian, Callcredit or Equifax:

www.callcredit.co.uk

www.experian.co.uk

www.equifax.co.uk

 

Where can I get help with keeping up my payments?


Ikano has a team of trained advisors to help any problems or concerns about keeping up with payments on your account.

Speak to one of our team now – Contact us

If you would like independent advice, there are several organisations who can provide free help and support.

Citizens Advice

For advice and information on debt and other topics, visit your local Citizens Advice Bureau (address in the phonebook) or go to www.adviceguide.org.uk (England & Wales), www.cas.org.uk (Scotland) or www.citizensadvice.co.uk (Northern Ireland).

National Debtline

If you live in England, Wales or Scotland phone 0808 808 4000 or visit www.nationaldebtline.co.uk for debt
advice and information.

Advice4DebtNI

If you live in Northern Ireland phone 0800 917 4607 or visit www.advice4debtNI.com for debt advice.

Money Advice Scotland:

If you live in Scotland, phone 0141 572 0237 or visit www.moneyadvicescotland.org.uk

StepChange Debt Charity 

For debt advice throughout the UK phone 0800 138 1111 or visit www.stepchange.org

What should I do if my name has changed?

In order for us to update your account details, please call us on 0371 781 3080* and we will arrange for the necessary documents to be issued to you. For other ways to get in touch, see the Contact us page.

How do I find out the balance of my account?

How do I find out the balance of my account?

If you have a store card with us, you can call our automated service on 0371 781 3080*  24 hours a day, 7 days a week for details of your current balance, or log in to your account using online account management.

Set up access to your account here

Log in to your account here

If you have a loan with us, please call us on 0371 781 3057* and one of the team will be happy to help.

*We are open weekdays 8.30am-9.00pm, Saturdays 8.30am-8.30pm and Sundays 10.00am-1.00pm.To maintain a quality service, and for security reasons, we may monitor or record phone calls. Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate.

The actual cost you are charged will depend on your phone provider, please check with them if you are unsure.

What is a credit search?

When you apply for credit (either with Ikano Bank or with any other lenders), a credit search is carried out. Credit searches help lenders make informed, fair decisions about lending money, as they can see what financial products you have and how well you've managed them in the past.

The 'search' is where lenders request information about you from credit reference agencies. There are 3 main credit reference agencies in the UK (Experian, Call Credit and Equifax). These agencies hold lots of information about adults living in the UK - including whether you're on the electoral roll, financial products you have, how much you currently owe and how well you've managed any financial products you've had (for example – have you missed any payments, any county court judgments etc).

How do I improve my credit rating?

Here are a few things you can do to improve your credit rating:

Make sure you keep up to date with payments on any financial products you have. If you miss  credit card, mortgage, loan, mobile phone or other utility bill payments it could be registered on your credit report and affect your chances of getting credit in the future.

We'd recommend setting up direct debits for all regular payments you need to make, so you know the payments will be taken each month - one less thing to remember or worry about.

Check that you're registered on the Electoral Roll at your current address - lenders use this to confirm your name and address.

Check the information on your credit report is accurate and up to date. If you believe something on your credit report is incorrect, contact the credit reference agency about this.

If your credit report states you have financial links to another person and this is no longer correct (for example an ex-partner or flat mate), you can request these are removed. The credit reference agency will be able to help with this.

Each time you apply for a credit product a 'footprint' is shown on your credit file for one year. If you apply for lots of credit products in a short space of time it can lead to you being rejected (as lenders may be concerned how much credit you are requesting). Try to spread out your credit applications and find out why you have been refused credit before you apply elsewhere.