Atom Bank Review
Comprehensive review and analysis of Atom Bank's digital banking services
Quick Facts
- Founded
- 2014
- Head Office
- United Kingdom
- Active Customers
- 150,000+
- Total Funding
- £500 million
- Employees
- 400+
- App Store Rating
- 4.7/5
Pros & Cons
Pros
- Competitive mortgage rates
- High savings interest rates
- Quick mortgage decisions
- No monthly fees
- FSCS protected
- Award-winning app
Cons
- No current accounts
- Limited product range
- No physical branches
- App-only service
Supported Countries
- United Kingdom
Fees
- Account Maintenance Free
- Savings Accounts Free
- Mortgage Arrangement Varies by product
- Early Withdrawal Varies by product
- Account Closure Free
Overview
Atom Bank, launched in 2014, has established itself as a leading digital mortgage and savings specialist in the UK. Known for its competitive rates and efficient digital processes, it offers a focused range of financial products.
Key Features
Mortgage Services
- Residential mortgages
- Buy-to-let mortgages
- Remortgage options
- Quick decisions
- Digital application
- Mortgage switching
Savings Products
- Fixed saver accounts
- Instant access savings
- Competitive rates
- Regular saver options
- Business savings
- FSCS protection
Digital Features
- Mobile app banking
- Biometric security
- Real-time updates
- Document upload
- Rate notifications
- Account management
Business Services
- Business savings
- Secured lending
- Invoice finance
- Asset finance
- Working capital
- Term lending
Security Features
- Face/voice recognition
- Secure messaging
- Transaction monitoring
- Data encryption
- Fraud detection
- Device registration
Customer Support
- In-app chat
- Phone support
- Email assistance
- Help center
- Mortgage specialists
- Savings advisors
Verdict
Atom Bank excels in providing competitive mortgage and savings products through a streamlined digital platform. Their focus on these core services allows them to offer some of the best rates in the market, particularly for savings accounts and mortgages.
While the lack of current accounts and physical branches may limit their appeal for some customers, their efficient digital processes and competitive rates make them an excellent choice for those seeking mortgages or savings products. The app-only service might not suit everyone, but for digitally-comfortable customers, Atom Bank offers a sophisticated and user-friendly banking experience.