Recognise Bank is a specialist SME bank. Recognise Bank is focused on SME lending, and is planning to provide personal and business savings accounts. Recognise Bank was founded in 2017 as BIZ Financial Services Limited and in November 2020 obtained its banking license.
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Customer service is easy to contact. They are very courteous & helpful.
Recognise Bank paying 1.5% on its 95 day notice savings account launched last year which is the same rate as Chase Bank's instant access account. There should be premium interest rate for having to wait 95 days to access savings but Recognise Bank fleecing savers. Last 2 base rate rises not passed on to its customers. Vote with feet and move savings elsewhere.
Failed yet again to pass on the interest rate rise for the second consecutive time. Voted with my feet as Damian advised... Taken from their own website: Damian Trussler, Head of Savings at Recognise Bank, said: “After several years of paying extremely low interest rates on their accounts, it doesn’t seem fair that providers aren’t passing on the Base Rate rise to hard pressed savers. “We are likely to see more Base Rate hikes from the bank of England this year, and with so many consumers facing a hit on their wallets from spiralling prices, savers need to vote with their feet if they are not getting a fair rate from their bank or building society.”
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On this page, you can see a detailed review of Recognise bank Banks with reviews from real users and our experts. Recognise bank provides the following services: Loans, Savings Account, SWIFT Transactions, Faster payments.
At the moment, Recognise bank rating on Finscanner is 3.8 and on Trustpilot is 3.7.