FAQs

To open an account, you need to be over 18 and live in the UK. You need to have a UK current account in your name, which you can use as your ‘nominated account’.

Our Fixed Saver account has a minimum opening deposit of £1,000

Our Easy Saver account has a minimum opening deposit of £100

For our Fixed Saver account, we need to receive your deposit within 14 days of when you apply for the account.

For our Easy Saver account, we need to receive your deposit within 30 days of when you apply for the account.

We'll send you an email when we've completed the name and address checks. This will either confirm that the account is now open or will ask for further proof of your identity and/or address (if needed).

Once we have all the information we need to open your account, we'll send you a letter confirming your account details - including your account number and log in details so you can view and manage your savings online.

Yes, you can open additional accounts and as an existing customer it is even easier.

• Log in here
• Select 'Open an Account' from the menu along the top of the screen and follow the on-screen instructions.

Here's what we need from you: Acceptable forms of identification and address verification

Please be aware that this is an online product, you will need to be able to apply and manage your account online.

However you can give our team a call on 0333 155 4607*, we’ll be happy to help with any questions, big or small.

If you would prefer to email us, we can answer general questions if you email us at enquiries@savings.ikano.co.uk

If your question relates to your account or you need to include any personal information, please log in to your savings account at www.ikano.co.uk/savings/log-in and send us a secure message.

*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.

Money that’s paid into your Savings account will appear there and be available for you to withdraw as follows, subject to any additional conditions of your account:

Electronic payment or transfer from another account with us, if paid in before 1pm, will be cleared on the same day and if paid in after 1pm, will be cleared on the next day.

Cheque payment will be cleared 6 business days after it’s received.

You must keep a balance of at least £100. If you request to take money out that would bring your balance below £100, we’ll ask if you want to withdraw less (to leave at least £100) or close your account.

As a responsible bank, it's important for us to know who our customers are. We'll ask questions in the application to help us do this, and we'll try to check your address and identity using automated systems during the application process. These checks will not affect your credit rating. If we are unable to complete these checks for you, we'll let you know at the end of the application process, and we'll ask you to send us further information in the post.

Yes, you can close your account within 14 days of the date on your Welcome letter (this is the letter we send you when you open a new account with us). There is no charge if you close your account.

If you want to do this, you can either access your account online and send the request via ‘Secure Message’, or write to us.

We won’t accept account closure requests made over the phone or via email.

Your nominated account is the current account that you choose to be 'linked' to your Ikano Bank savings account. It is through this account that you will be able to pay money in and take money out of your savings account. Transfers can be done simply and online, and we will never charge you.

This account must be a personal account in your name containing a six digit sort code and eight digit account number. If you have a joint Ikano Bank Savings Account, your nominated account can be in either or both account holders' names. You can update your nominated account details online at any time.

Log in to your account here

Choose the account you want to withdraw money from and select 'Make a transaction'.

Any money you withdraw before 2pm will be in your 'nominated account' the following working day.

You can transfer money from your nominated account using one-off electronic payments and regular standing orders, as well as from any existing Ikano Bank savings accounts in your name.

Use these details:

• sort code: 40-02-50
• account number: 61330071
• please quote your application or account reference as the payment reference
• Payee: Ikano Bank UK branch

You can find your application or account reference in the Welcome letter we send you, or the confirmation email you receive at account opening.

Cheques can only be used to make the first payment into a new account.

We use HSBC as our clearing bank, so when you enter our bank details as the destination for your online transaction, you may see HSBC on your transaction confirmation.

You can give our team a call on 0333 155 4607*, email us at enquiries@savings.ikano.co.uk or log in to your savings account at www.ikano.co.uk/savings/log-in and send us a secure message.

*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.

• Go to ikano.co.uk/savings/log-in
• Select ‘Log in’

You will need:

• your User ID - this is in your Welcome letter.
• your password and memorable information - you set this up when you opened your account.

If you need help logging in, give our team a call on 0333 155 4607*.

*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.

If you've forgotten your password, please click 'I've forgotten my password' on the log in screen.

If you need help please give our team a call on 0333 155 4607*.

*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.

Give our team a call on 0333 155 4607*, we’ll be happy to help with any questions, big or small.

If you would prefer to email us, we can answer general questions if you email us at enquiries@savings.ikano.co.uk.

If your question relates to your account or you need to include any personal information, please log in to your savings account at www.ikano.co.uk/savings/log-in and send us a secure message.

*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.

• Please log in here
• Choose the account you would like to check the interest rate on.
• Go to 'Account Details'

If you have not yet made a deposit to your account, then the interest rate you see on your online account will be what was advertised at the time of your application.

Once you have made your initial deposit, if we have increased the interest rate on the product between your account opening date and the initial deposit being made, you will receive the higher interest rate.

Please be aware that this is an online product, you will need to be able to apply and manage your account online. 

However you can give our team a call on 0333 155 4607*, we’ll be happy to help with any questions, big or small.

If you would prefer to email us, we can answer general questions if you email us at enquiries@savings.ikano.co.uk.

If your question relates to your account or you need to include any personal information, please log in to your savings account at www.ikano.co.uk/savings/log-in and send us a secure message.

*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.

If you’ve forgotten your User ID, please give our team a call on 0333 155 4607*.

* 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.

If you’ve forgotten your memorable information, please give our team a call on 0333 155 4607*.

*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.

You can print interest statements directly from your account online

• log in here
• choose the account you want the statement for
• go to 'Interest statement' and either choose an 'Annual Interest Statement' for the tax year or select another date range 

If you need any help, give one of our team a call on 0333 155 4607*.

*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.

At least 21 days before your account matures, we'll write to explain what you can do next. You'll be able to see these options and choose one or more by logging into your account up to 2 days before it matures.

If you don't select an option, your account will become an Easy Saver account with no withdrawal restrictions. We'll tell you the interest rate and terms and conditions that would apply when we write to you before maturity.

If you think or know that someone else may have your password or security details, please call us immediately on 0333 155 4607*

If this happens outside of our business hours, you can lock your account to prevent anyone else accessing it by using an incorrect password three times on the log in screen.

*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.

Our website is encrypted, so your personal details are safe. Encryption is the most effective way to keep personal data secure, as the data is unreadable to unauthorised users or 'hackers'.

You can check that a website is secure by the security certificate appearing in the navigation bar of your browser, and the web address will start with https://

Ikano Bank as a whole, including the UK Branch, is regulated by the Swedish Financial Supervisory Authority (Finansinspektionen).  We are also regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority. Our Firm Reference Number (FRN) is 409120.

• Keep your log in and security details safe. Don't select a password or memorable details that can be easily guessed and don't write them down or save them anywhere.
• If you call us, we'll ask you to confirm some details about your account to make sure it is you - but we will never ask for your password or memorable details.
• Always keep your details up to date, especially your address and email. You can update your details when you log in to your account. Most importantly, please make sure that your email address is valid, current, and personal to you.
• The security of the device you use to access your account is really important, and it's your responsibility to keep it protected from attempts to gain access to your account. You shouldn't access your account from a public computer or a location you don't trust. Use strong passwords, and up-to-date virus checking and firewall software.
• Always log off when you have finished managing your account.

You’re covered by the Financial Services Compensation Scheme (FSCS), which is the UK's deposit protection scheme. Your deposits are protected up to £120,000 per customer (that's £240,000 for a joint account).

For more information you can visit our Savings Protection page.

If you need to let us know that an Ikano Bank savings customer has passed away, you can contact us in the way that’s easiest for you:

• phone: 0333 155 4607
• email: enquiries@savings.ikano.co.uk
• by post at: Ikano Bank, Savings Department, PO Box 972, Wallsend, NE28 5FF.

To help us find the account, we may ask for:

• the person’s full name
• their email address connected to their account
• their phone number
• their address
• their account number(s).

We will also need the full name, phone number, email and address of the person notifying us of the death.

Once you’ve contacted us:

• we’ll update any accounts held
• stop any marketing communications
• ask you for the original Death Certificate or Coroner’s Certificate to allow the full registration process to take place.

We aim to process all documents within a maximum timescale of 5 working days of receiving them. 

Upon receipt of the acceptable documents, we will fully update our records and send any original or certified copies back via Special Delivery to the requested address.

We will also provide account information applicable at the date of death which may be needed for probate purposes.

Yes, we can release funds for:

• funeral costs (upon receipt of the funeral invoice)
• Inheritance Tax (with a completed IHT423 form).

Once the deceased customer’s information has been updated, all joint accounts are amended to the surviving party and the normal account conditions will apply.

Yes, this can be arranged by completing a takeover form and providing the necessary identification documents (unless they are already an existing customer).

This depends on the total balance held:

• under £30,000.00 – total account balances below this amount will need a Small Estates Form
• £30,000.00 or over – total account balances above this limit will need an original Grant of Probate.

Accounts can be closed in line with the above mentioned probate limits and a signed dated closure letter. All funds are returned electronically to the named executor’s UK bank account.

Dealing with someone’s finances after they pass away can feel overwhelming.

There are many organisations on hand to support you:

• Citizens Advice Bureau – offers clear guidance and examples for different situations
• GOV.UK – explains legal documents, when they’re needed, and how to apply
• HMRC – for general questions about probate or Inheritance Tax.

We've compiled a list of some of the words and terms which you may see when you’re dealing with a bereavement.  

If anything is unclear, our trained bereavement specialists are available to help – give us a call on 0333 155 4607.

Beneficiary

A person who inherits part or all of the estate.

Certified copy

A copy of the original document that has been signed and verified by a solicitor.

Certificate of confirmation

A document giving the authority to administer an estate in Scotland.

Customer representative

Generic term for someone who is administering the estate.

Death certificate

The legal document issued by the registry office after a death has been registered.

Estate

All assets belonging to the deceased.

Executor

A person appointed by a will to administer the estate.

Funeral invoice

The bill to pay the funeral director. We need this to be able to release funds from the deceased’s accounts to pay for the funeral.

Grant of letters of administration

A document giving the authority to administer an estate where there is no will.

Grant of probate

A document giving the authority to administer an estate in accordance with the will.

Grant of representation

A collective term for both the grant of probate and the grant of letters of administration.

Inheritance Tax

A tax paid to HMRC on the estate of the deceased.

Intestacy rules

The rules dictating how the deceased’s estate is to be shared when there is no will.