Vanquis is part of FTSE 250 listed Provident Financial Group, which comprises four companies – Provident (home credit/doorstep loans), Moneybarn (vehicle finance), Satsuma (pay day and short-term loans) and Vanquis (credit cards, personal loans and savings). Vanquis entered the savings market in 2011.
Vanquis have their own banking licence which isn’t shared with any other banks
Companies House Number: 02558509
Financial Conduct Authority: 221156.
Based: Head office is in Chatham, Kent with offices also in Bradford and Fenchurch Street, London. Savings are administered in Newcastle.
Date Launched: January 2002
FSCS Protected? Yes
Branches: Vanquis Bank doesn’t have any branches
People of Interest
Head of Savings
No. of Savers
Unknown; estimated at circa 40,000
Amount of Deposits
£1.683bn as of 31st December 2020
£1.094bn as of 31st December 2020
Account Opening and Management
How Do I Open a Savings Account
How Do I Manage a Savings Account
Internet, Post, Telephone
Credit cards – it provides credit cards to help people repair bad credit with limits ranging from £250 - £4,000
Personal loans – unsecured loans for 1 – 3 years for amounts from £1,000 - £5,000
No reviews on Feefo
Savings Guru Verdict
Historically, Vanquis has offered competitive 4 and 5 Year Fixed Rate savings but during 2020 branched out to offer shorter terms. They have had a bad time through covid with profit dropping 73% to £50.7m but have historically been a very profitable member of the Provident Group.
The Bank has significant excess liquidity, which is good for its safety, but probably means they are unlikely to be offering best buy rates to attract new savers in 2021.
Contact Information for Vanquis Bank
Vanquis Bank Savings,
PO Box 1279,
Newcastle upon Tyne,
Telephone: 0191 505 0033
Open: Monday to Friday, 9am – 5pm.