Your Current and Savings accounts

Since 1 January 2023, an account maintenance fee of £5 per month has applied on all personal Current Accounts with a balance less than £2,500, as of the final working day of the month.

Personal Current Accounts with a balance equal to, or greater than £2,500 - as of the final working day of the month - are not be charged.

If your would like to find out more, including information on how to close your personal Current Accounts, click the link below.

Find out more

Important: withdrawing your funds alone will not close your personal Current Account

Savings account applicants must reside in the UK or non-EU countries, with the exception if Cash ISA applicants who must reside in the UK.

Savings account applicants must reside in the UK or non-EU countries, with the exception if Cash ISA applicants who must reside in the UK.

At Al Rayan Bank, we're committed to ethical and environmentally responsible banking practices. We're continually working to reduce our environmental impact, and we invite you to be a part of this journey.

Transitioning to paperless statements

In line with our sustainability goals, we have recently introduced a change in how we deliver your account statements.

All Digital Banking customers, who haven't already made the switch, will be moved to paperless statements by 2024.

What to expect from paperless statements

Rest assured, your current and savings account statements will continue to be generated monthly and quarterly, just as they always have been. The only difference is that you'll access them through our Digital Banking platform instead of receiving physical copies by post.

To access your statements in Digital Banking, simply follow these three easy steps: 

1.    Log into Digital Banking using either the Mobile Banking app or the Desktop portal.

  

2.    Select the account for which you wish to view statements. You can easily do this through the 'Account Summary' screen or by tapping the 'Accounts' option in the bottom menu.

 

3.    Choose 'Statements' from your account options. From here, you can download statements dating back the past 12 months.

The choice is yours

The decision to go paperless is entirely up to you. If you ever wish to return to receiving paper statements by post, you can do so at any time by following the same instructions mentioned above. Simply turn off the 'paperless statements' option, and your statements will resume being sent to your registered address monthly and quarterly, just as before.

A nominated account is the designated account to which all external payments from your Al Rayan Bank savings account are directed. It must be an account in your name, either a sole account or a joint account held with another person. This nominated account will apply to all savings accounts you hold with Al Rayan Bank.



From April 2024, we will require that all savings accounts have a nominated account.



Your nominated account must be in your name, and it can be a joint account held with another person. It must be with a UK bank or building society, preferably a Current Account, offering a full range of payment services. Avoid using an account with a foreign bank or another Al Rayan Bank savings account. Using a savings account as a nominated account is not recommended due to potential restrictions on payment services.



To find out more about nominated accounts, including how to provide yours - if you have not done so already, click here

If you request a return or do not respond before the maturity date, your funds will be automatically returned to the nominated account you supplied when the Fixed Term Deposit was opened on its maturity date.

Find out more

If your Fixed Term Deposit (FTD) is due to mature within the next 12 months, you’ll receive a communication approximately 60 days before your maturity date to inform you of the changes to the reinvestment process. 

Find out more

To view the notification regarding your account maturity, log in to Digital Banking. The notification banner will appear on the first page, specifically 15 days before the maturity date. 

Find out more

Before starting your Fixed Term Deposit reinvestment, please ensure that you have a nominated account set up.  A nominated account is a UK bank or building society current account in your name, to which your Fixed Term Deposit will be paid when you withdraw it. If needed, you can exit the Fixed Term Deposit application at any point to set up the nominated account. Once completed, you can resume your application. 

Find out more

1.  App Installation and Security

Ensure that you have the latest app installed and that your phone operating system is up to date. Our Digital Banking App is compatible with Android 11 and above, and iOS 15 and above.

2. Check the Date

Note that the notification banner appears only 15 days before your maturity date.

Find out more

For App users:

• App Installation and Security: Ensure that you have the latest app installed and that your phone operating system is up to date. Our Digital Banking App is compatible with Android 11 and above, and iOS 15 and above.
• Nominated Account Setup: Confirm that you have set up your nominated account.

For Desktop Portal users:

• Clear Cache and Cookies: Delete cache and cookies from your web browser.
• Try a Different Browser: If the issue persists, try using a different web browser. 

Find out more

If you are a joint account holder, please verify that you have the latest app installed and ensure that your phone software is up to date. Our Digital Banking App is compatible with Android 11 and above, and iOS 15 and above. If you are reinvesting via the Desktop Portal, please clear your cache and cookies. Whether you are reinvesting using our Digital Banking app or the Desktop Portal, make sure to set up your nominated account.

Find out more

You can now reinvest your Fixed Term Deposit (FTD) through Digital Banking.  Watch this short video to see how:

You can fund your savings account either by direct account transfer or a cheque from an account in your name.

Whichever method you choose, you will need to make a note of:

• Your account number, a unique eight-digit number.
• Your reference number, a unique number preceded by the letters ‘LIB’

You’ll find your account number and reference number in your Welcome Letter, which you will receive a few days after opening your account, and on the ‘Next Steps’ and ‘Final Stage’ screens of an online application.

Funding your account by transfer

Please pay your deposit using the following information:

• Account name: the name of the account holder
• Sort code: 30-00-83
• Account number: ********
• Reference Number: LIB******

Funding your account by cheque

If you’d like to pay in a cheque by post, please make your cheque payable to yourself, clearly writing your account number and LIB reference number on the back of your cheque. You can then post it to Al Rayan Bank, PO Box 12461, Birmingham, B16 6AQ. 

Please note we can only accept payments from an account an account in your name.

You can change postal address, phone number and email address through Digital Banking or by writing to us.

Digital Banking

To change your postal address, phone number or email address through Digital Banking, please log onto the Mobile Banking App or Desktop Portal and select ‘Secure messages’ from the menu.  Click ‘add’ to create a new message and then select ‘Services’.  From here you can notify us of a change in address, contact details and other important changes,  

Please don't email us any requests to change your contact details – they're not secure so we can't act on them.

In writing

If you are writing to us, please include your name, address, account number and a wet signature. If you are changing your address and your account has been opened for less than a month, we'll need to see a proof of address as well.

Please visit our contact us page for our up to date contact details.

Joint accounts

If you have a joint account, you can update the joint account address and your customer address. The other account holders will need to contact us separately to update their customer addresses.

Minimum deposit amounts vary depending upon the account. Please visit our accounts comparison page to find out more.

If you need to order a new cheque book or paying in book, you can call us or write to us. If you are writing to us, please include your name, address, account number and a signature. Please visit our contact us page for our up to date contact details.

You should let us know immediately if your card, cheque book or paying-in book has been lost or stolen.

Report a lost or stolen card

You can also give us a call or write to us. If you are writing to us, please include your name, address, account number and a signature. Please visit our contact us page for our up to date contact details.

If your debit card has been damaged, please give us a call or write to us. If you are writing to us, please include your name, address, account number and a  signature. Please visit our contact us page for our up to date contact details.

There are no charges for ordering a replacement card if your card gets damaged. You can continue using the same PIN when you receive your replacement card.

To withdraw money from a notice savings account, you will have to give a notice depending upon the length of your account. For example, for 90 Day Notice Savings Account you'll have to give us 90 days' notice to make a withdrawal.

You can apply a notice through Digital Banking, by phone or by writing to us. To apply the notice through Digital Banking, follow the following steps:

• From the home page (Account summary) select Notice Account
• Select Notice of Withdrawal from the actions bar
• Click New Notice of Withdrawal and complete the details requested on screen
• Click Add to confirm.

If you are writing to us, please include your name, address, account number and a signature. Please visit our contact us page for our up to date contact details.

You will not be able to make any partial or full withdrawal or close your account before you give us the relevant notice, as applicable to your account and in line with our terms and conditions.

If you have changed your name, please let us know by writing to us. Please visit our contact us page to find out our up to date contact details. We'll need to see an original or a certified proof, for example, deed poll, passport, marriage or divorce certificate.

You can do this through Digital Banking or over the phone. Please visit our contact us page to find out our up to date contact details. 

Al Rayan Bank debit cards can be used at all outlets that accept Mastercard® Debitcard. However it cannot be used at casinos, automatic fuel dispensers and money remittance retailers such as Western Union.

Since 6 April 2016 all banks and building societies are no longer required to deduct tax from the savings returns you earn. You have a Personal Savings Allowance and once you reach that, you will need to pay any tax that’s due. ISA savings do not form part of your Personal Savings Allowance and remain tax-free.

Find out more about Personal Savings Allowance 

Since April 2016 all banks and building societies are no longer required to deduct tax from the savings returns you earn. You have a Personal Savings Allowance and once you reach that, you will need to pay any tax that’s due. ISA savings do not form part of your Personal Savings Allowance and remain tax-free. For more information, please click here.

There is no charge for stopping a cheque.

To stop a cheque, you can give us a call or write to us. If you are writing to us, please include your name, address, account number and a wet signature. Please visit our contact us page for our up to date contact details.

You can do this online if you have Digital Banking, over the phone or by writing to us. If you are writing to us, please include your name, address, account number and a wet signature. Please visit our contact us page for our up to date contact details.

No, there is no restriction on how many Direct Debits you can hold on your payment account.

If you have received a dormancy letter from us and would like to reactive your account, we'll need to see your proof of identity and proof of address. You can do this by writing to us. When writing to us, please include your name, address, account number and a signature. Please visit our contact us page for our up to date contact details.

There is no restriction as to the number of standing orders you can hold.

If you are travelling outside the UK, you'll need to let us know. We'll need your details around when and where you're travelling, duration of your stay and your emergency contact details.

Due to international rules and restrictions, your debit card may be restricted in certain countries, so please have an alternative method of payment available where possible. To see the full list of countries please click here.

To find out more about charges when using your debit card overseas, please click here. 

Whether you've received your debit card for the first time or it's a replacement for your old card, you'll need to complete a chip and PIN transaction to enable the contactless feature.

The daily spend limit on your Al Rayan Bank debit card is £10,000.

Personal customers can withdraw up to £250 from an ATM in a single day.  Businesses can withdraw up to £500 in a day and Premier Banking customers can withdraw up to £750 a day.

IBAN stands for ‘International Bank Account Number’ and BIC stands for ’Business Identifier Code’. BIC is also sometimes referred to as a SWIFT Code or Bank Identifier Code. You use these when making or receiving international payments.

IBAN and BIC allow overseas banks to easily identify your Bank and account number, and are normally used in conjunction with each other.

Since August 2017, all Al Rayan Bank accounts have had an individual IBAN, and the Bank has its own BIC. You can find your IBAN on your bank statements, and Al Rayan Bank BIC / SWIFT Code is ARAYGB22.

Al Rayan Bank debit cards cannot be used at casinos, automatic fuel dispensers and money remittance retailers.

To order a duplicate statement you can give us a call or write to us. If you're writing to us, please include your name, address account number and a wet signature. Please visit our contact us page for our up to date contact details.

A Certificate of Profit is a statement that details the total value of the profit that the Bank has credited to a customer’s savings account throughout the previous tax year. Where a customer needs to complete a Self-Assessment for Tax purposes, the Certificate of Profit can be useful.

If you would like us to send you a Certificate of Profit for your savings accounts with Al Rayan Bank, please contact us on 0800 408 6407.

From the home page (Account summary) select 'Notice Account'

Select 'Notice of Withdrawal' from the actions bar

Click 'New Notice of Withdrawal' and complete the details requested on screen

Click 'Add' to confirm.

ISA transfers in and out can take up to 15 working days from the receipt of the request to process.  If you believe that your ISA transfer request has taken longer than this, please contact us on 0800 408 6407 or send us a secure message through our Digital Banking service.

We expect that it will take up to seven business days to fully process a new account application. Once the new account is open, we will contact you with your Welcome Letter, either by email or post.

If you want to close your account, please write to us at the following address:

Account Services Team
Al Rayan Bank, 
PO Box 12461
Birmingham
B16 6AQ

Your letter must be dated, signed, and contain the information about the account you wish to close.  Please note if your signature does not match the one that we hold on file for you, your account will not be closed. We will write to you requesting you sign a new signature mandate before we can close the account.

To protect customers accounts, we require all closure accounts to be made in writing.  If you want to close your account, please write to us at the following address:

Account Services Team
Al Rayan Bank, 
PO Box 12461
Birmingham
B16 6AQ

Your letter must be dated, signed, and contain the information about the account you wish to close.  Please note if your signature does not match the one that we hold on file for you, your account will not be closed. We will write to you requesting you sign a new signature mandate before we can close the account.