Challenger banks
What is a challenger bank?
Challenger banks are challenging the larger slow-moving institutional banks with new fintech, which is usually via an app (but not always) and they claim to have better and faster services. But sometimes they fall under this label but are not actual banks.
How do I find out if a challenger bank is a bank?
It is important to note that some are not actual banks and therefore your deposits are not covered by FSCS financial services compensation scheme which guarantees your deposit up to £85,000. Some challengers are a prepaid digital service streamlining your banking requirements. These challengers will not be allowed to mention the word bank in their marketing material and will often market their accounts with the wording business account or personal account. Banks in the UK are regulated by the PRA and FCA. You can find a list of banks that the PRA regulated here and below we have started to formulate a list of challengers to traditional banking institutions.
Find out if the bank is regulated by visiting the Bank of England site Find out about the FSCS
Lender | Company No. | Established | Phone | Social Media | Website |
---|---|---|---|---|---|
Emma | 10578464 | 23/01/2017 | N/A | emma-app.com | |
BABB | 11197989 | 09/02/2018 | N/A | getbabb.com | |
Acorn Account | 06268340 | 04/06/2007 | 0845 846 5154 | acornaccount.com | |
Anna Money | 10149389 | 27/04/2016 | N/A | go.anna.money | |
Atom Bank | 08632552 | 31/07/2013 | 0191 594 9400 | atombank.co.uk | |
Cashplus | 04947027 | 29/10/2003 | 0330 024 0924 | cashplus.com | |
Mast Haven | 09660012 | 29/04/2024 | 020 7036 2000 | masthaven.co.uk | |
Bud | 09651629 | 23/06/2015 | N/A | thisisbud.com | |
Chip | 10113174 | 08/04/2016 | N/A | getchip.uk | |
Cleo | 09864205 | 09/11/2015 | N/A | meetcleo.com | |
Coconut | 09904418 | 07/12/2015 | 0808 169 9928 | getcoconut.com | |
Hampden & Co | SC386922 | 29/04/2024 | 0203841922 | hampdenandco.com | |
Counting Up | 10729748 | 19/04/2017 | N/A | countingup.com | |
Curve | 07875693 | 08/12/2011 | N/A | curve.com | |
Dozens | 11153882 | 17/01/2018 | N/A | dozens.com | |
First Direct | 09928412 | 23/12/2015 | 0345 6100 100 | www1.firstdirect.com | |
Money Dashboard | SC374952 | 16/03/2010 | 0330 221 0574 | moneydashboard.com | |
Glint Pay Services | 10117131 | 11/04/2016 | 020 3915 8111 | glintpay.com | |
gohenry | N/A | 04/01/2006 | 0330 100 7676 | gohenry.com | |
Metro Bank | 06419578 | 06/11/2007 | 020 3402 7740 | metrobankonline.co.uk | |
Mettle | 04008083 | 05/06/2000 | N/A | mettle.co.uk | |
Monese Ltd | 08720992 | 07/10/2013 | N/A | monese.com | |
Moneybox | 09597755 | 19/05/2015 | N/A | moneyboxapp.com | |
Moneyhub | 06909772 | 19/05/2009 | 0117 280 5120 | moneyhub.com | |
Monzo | 09446231 | 18/02/2015 | 0800 802 1281 | monzo.com | |
Nimbl | 09276538 | 23/10/2014 | N/A | nimbl.com | |
Osper | 07958759 | 21/02/2012 | N/A | osper.com | |
Oval | 09990597 | 05/01/2016 | N/A | ovalmoney.com | |
Plum | 09952199 | 14/01/2016 | 020 3393 1340 | withplum.com | |
Plutus | 09674279 | 07/07/2015 | N/A | plutus.it | |
Pockit | 07157877 | 15/02/2010 | N/A | pockit.com | |
Revolut | 08804411 | 06/12/2013 | 020 3322 8352 | revolut.com | |
Smile | 00990937 | 05/10/2070 | 03457 212 212 | smile.co.uk | |
Soldo | 09495650 | 18/03/2015 | N/A | soldo.com | |
Squirrel | 08621129 | 23/07/2023 | N/A | squirrel.me | |
Starling Bank | 09092149 | 18/06/2014 | N/A | starlingbank.com | |
Tandem Bank | 00955491 | 04/06/2069 | 020 3370 0970 | tandem.co.uk | |
Think Money | 5530040 | 08/07/2005 | N/A | thinkmoney.co.uk | |
Tide | 09595646 | 29/04/2024 | 0333 121 0266 | tide.co | |
Tuxedo Money Solutions | 05674773 | 13/01/2006 | 020 3219 3100 | tuxedomoneysolutions.com | |
Thames Valley Berkshire Business Growth Hub | N/A | 29/04/2024 | 01344 388 005 | berkshirebusinesshub.co.uk |