Our verdict
Atom Bank has a good range of fixed rate savings accounts to choose from, the set up is fairly quick and the rates are competitive (although not always the top of the market). You can choose how long the account lasts for and whether to get interest paid monthly or annually.
Similarly, Can you open a joint account with Atom bank? For joint accounts, each account holder can claim up to £85,000 (a total of £170,000 where there are two account holders). The £85,000 covers all the funds held in the eligible customer’s accounts with the bank, including their share of any joint accounts, and not to each separate account.
Then, Is Atom bank safe for savings?
Yes. Your money will be covered by the Financial Services Compensation Scheme (FSCS), which means your deposits are protected up to £85,000 should anything happen to the bank.
And Is Atom a real bank? Atom Bank is a retail bank in the United Kingdom. It is the United Kingdom’s first bank built for smartphone or tablet, without any branches, and the first digital-only challenger bank to be granted a full UK regulatory licence. The company is based in Durham, England.
Who is behind Atom bank? We have a highly experienced executive team, led by CEO Mark Mullen who has 25 years’ experience in commercial and retail banking and was previously CEO at the multi-award winning telephone and internet bank, first direct.
Who is Atom bank owned by?
Its biggest shareholders are BBVA at 39 per cent, Toscafund at 29.7 per cent and Woodford at 18 per cent.
Is Atom interest paid monthly?
All interest is paid gross and can be added to your account or paid into a nominated account held in your name. For monthly interest products, interest is typically paid on the day of the month you opened your account .
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What is the interest rate?
| Interest rates | |
|---|---|
| AER | 2.05% |
What is the interest rate to Atom bank?
Instant Saver 1.25% Interest Rate – Easy Access Savings | Atom bank.
How do I create an account with Atom bank?
Got them? You’re ready to open a saving account
- Download the Atom savings app from the App Store or Google Play Store.
- Review and accept our T&Cs if you’re happy with them.
- Tap in your details to register with us.
- Set up your biometrics to keep your savings account secure.
- Provide a few final personal details.
How do I open an account with Atom bank?
Got them? You’re ready to open a saving account
- Download the Atom savings app from the App Store or Google Play Store.
- Review and accept our T&Cs if you’re happy with them.
- Tap in your details to register with us.
- Set up your biometrics to keep your savings account secure.
- Provide a few final personal details.
Is Atom bank regulated?
Atom bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. Our Financial Services Register number is 661960.
How do I deposit money into Atom bank?
To add money in, go to the branch or online banking site for your connected account. Then pay money to your Instant Saver using your sort code and account number (you can find this by tapping on your Instant Saver in your app).
How do I withdraw money from Atom bank Instant Saver?
You can use the Atom App to make payments out of your Instant Saver via your connected account at any time. As long as there’s enough money in your account, there’s no limit on the number or value of withdrawals you can make (though a large withdrawal may need to be split across more than one payment).
Is Atom bank making money?
The simple answer for Atom is yes. Our revenues continue to grow and the bank is on course to achieve 100bps of Net Interest Margin (NIM) by the end of our financial year in March.
How long has atom Bank been trading?
Founded in 2014 as the UK’s first app-based bank, we’ve grown to over 400 people, based in the North of England, all focused on building the bank our customers would want us to be. We’ve built a bank you’ll want to be a part of.
Where can I get 5% interest on my money?
Here are the best 5% interest savings accounts you can open today:
- Current: 4% up to $6,000.
- Aspiration: 3-5% up to $10,000.
- NetSpend: 5% up to $1,000.
- Digital Federal Credit Union: 6.17% up to $1,000.
- Blue Federal Credit Union: 5% up to $1,000.
- Mango Money: 6% up to $2,500.
- Landmark Credit Union: 7.50% up to $500.
Is atom A Good Investment?
Yes, according to ATOM price prediction and its past history, the coin might cross the $30 price mark this year and be a good investment decision. It is more than just a bridge between blockchains and its functionalities make it a good option in the market. One can buy ATOM coins with the help of crypto exchange.
Will interest rates go up in 2022?
The new year, however, has been characterized by rising rates. The days of sub-3 percent mortgage interest on the 30-year fixed are behind us, and many experts think the average rate on this loan will be 3.5 to 4 percent by the end of 2022.
How good is Atom bank?
Summary – 4.4/5. Overall, even though Atom Bank doesn’t provide current accounts, what they do provide is a valuable addition to the current pool of challenger banks on the market.
How does ATOM bank make money?
Revenue is driven by lending, and our balance sheet shows that lending to UK businesses has now grown to over £700m, that’s a tripling of business loans in the last 12 months and has been achieved both within the Coronavirus Business Interruption Loan Scheme and also independent of government schemes.
Where can I get the best interest on my money?
- Savings Accounts.
- High-Yield Savings Accounts.
- Certificates of Deposit (CDs)
- Money Market Funds.
- Money Market Deposit Accounts.
- Treasury Bills and Notes.
- Bonds.
Can I open an atom bank account online?
To open an Atom account, you’ll need to register ‘Your ID’, complete the ID&V process and meet our eligibility criteria. Wherever possible, you should choose your product and complete the entire application process in the App.
Who is the CEO of Atom bank?
Mark Mullen – CEO – Atom | LinkedIn.
Is Atom covered FSCS?
As Atom’s covered by the scheme, we want you to fully understand how your money is protected by the FSCS. Eligible deposits in Atom bank plc (UK mainland only) are protected by: The Financial Services Compensation Scheme (“FSCS”).