Al Rayan Bank Current Accounts

The experts say:

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Better-known for online savings accounts with high rates of expected profit, Al Rayan Bank also offers current accounts. Independent experts don't rate the products especially highly – Fairer Finance's rating is just 2 Stars and Al Rayan Bank is not a Which? Recommended Provider. That said, the Fairer Finance Customer Experience rating is a respectable 66%.

Apply for a current account with Al Rayan Bank

What Al Rayan Bank customers are saying right now:

The Good

🙌 Excellent customer service with polite and efficient staff
😃 Clear and helpful explanations of options
✅ Prompt response times and easy process for switching products
😊 Professional attitude towards helping customers
🤩 Quick and efficient answering of calls

The Bad

😞 Poor digital banking service, with frequent logouts and a difficult-to-use app.
😠 Worst customer service, with long wait times and staff who are unresponsive to complaints.
🤬 Double standards for account closure, with different rules applying depending on the customer.

Al Rayan Bank customer reviews summary

Al Rayan Bank current accounts have received mixed reviews from customers. For some, the process of setting up a savings account was straightforward and efficient, with polite and professional customer service. Others, however, experienced difficulties with their digital banking services and long wait times when trying to resolve complaints. Overall, Al Rayan Bank provides basic services for those wishing to open a savings account but leaves much to be desired when it comes to customer support. Score: 6/10

Is Al Rayan Bank one of this year's Top 10 current account providers?

Is Al Rayan Bank safe?

Customers who deposit funds with Al Rayan Bank are protected up to a total of £85,000 by the UK government’s deposit guarantee scheme, the Financial Services Compensation Scheme (FSCS). The bank has over 90,000 customers in the UK and has an Aa3 rating from the credit rating agency Moody's.

Who owns Al Rayan Bank?

Al Rayan Bank PLC is majority-owned by Al Rayan (UK) Limited, which is part of Masraf Al Rayan Q.S.C., Qatar's second largest bank. Masraf Al Rayan is licensed by Qatar Central Bank and has been trading since 2006.

Is Al Rayan Bank closing down?

No – but in recent years Al Rayan has shifted towards being a fully digital bank, and has gradually closed all of its high street retail branches. This may mean it's not a good choice for customers who value traditional branch banking services.

Is Al Rayan Bank halal?

Yes, Al Rayan Bank offers financial services which are Sharia compliant by design.

Al Rayan Bank Current Account Review

Robin Banks