Nominated Accounts

Important update for Al Rayan Bank savings customers

Starting from July, we are introducing a new feature to enhance the security and convenience of your savings accounts with Al Rayan Bank. 

You will need to nominate a single account to which external payments and transfers are made. 

If you have already set up your nominated account, we appreciate your prompt action. If not, please do so through the Digital Banking Application or by speaking to us.

How to send us your nominated account information

You should have received either an email or a letter containing a unique eight digit code and a reference number starting either 'IND' or 'AIN'. Please click on the red button if your reference starts with 'IND', or the white button if it starts with 'AIN'.

If reference starts 'IND' click here

If reference starts 'AIN' click here

If you are unsure of which link to select, your reference will be quoted on your letter or email in the area circled below:

What’s changing:

• A nominated account is a bank or building society account where you can receive payments.  Nominated accounts help reduce the risk of criminals accessing your account and diverting funds to their own accounts. Payments can only be made to the nominated bank account details you have provided to us.
• Your nominated account can be with any UK bank or building society, as long as you are listed as an account holder.
• Savings accounts without a nominated account after this point will continue to earn profit, receive statements, and accept deposits from external accounts. However, you will not be able to make payments to other accounts until the nominated account details are provided.
• Direct Debits or standing orders will not be allowed on savings accounts after this point. Please make any necessary changes to any Direct Debits or standing orders associated with your savings accounts before this date.

What’s not changing:

• In-bound payments to your savings accounts are not affected by this change.
• Transfers between your own Al Rayan Bank accounts are not affected by this change.
• This change does not impact any Current Account or finance product you have with Al Rayan Bank.

Joint accounts:

• In most joint savings accounts, each account holder will require their own nominated account details. However, if your joint savings account is a Fixed Term Deposit, the nominated account information of the primary account holder will be used for all account holders.