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Ikano Bank

General Information


Ikano Bank is owned by the family that founded Ikea and has operated in the UK since 1994. It entered the savings market in December 2015 and has offered a range of fixed rate bonds since.

Banking Licence

Ikano in the UK is a branch of Ikano Bank, which is regulated by the Swedish Financial Supervisory Authority (Finansinspektionen). Ikano is regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority

Registration Numbers

Swedish Company Registration Number: 011153

Financial Conduct Authority: 409120

Based: Head Office is in Nottingham but its savings business is based in Newcastle

Date Launched: December 2015

FSCS Protected? Yes. From 1 January 2021, savers are protected by the UK Financial Services Compensation Scheme.

Branches: None

People of Interest

Head of Savings

Anita Necipor

Chief Executive

Paul O'Leary is Country Manager

Saving Information

No. of Savers

234,000 (UK proportion unknown) as at 31st December 2019

Amount of Deposits

£2.2bn (UK proportion unknown) as at 31st December 2020

Loan Book

£2.91bn as at 31st December 2020

Account Opening and Management

How Do I Open a Savings Account


How Do I Manage a Savings Account

Internet, Telephone


Lending Activities

Ikano have three principle areas of lending:

* Ikea store cards 

* Personal loans

* Retail finance - providing finance to other retailers to enable them to offer finance to their own customers


Savings Guru Verdict

Ikano has historically figured in our best buy tables with some competitive fixed rate bonds, particularly on 3, 4 and 5 Year terms but has been absent in 2021.  It does offer an easy access account, but this is currently unavailable for new applications and has been for over a year.  It was often overlooked by savers, as it relied on the Swedish compensation scheme, but since January 2021 savers have been protected by the UK Financial Services Compensation Scheme.

Contact Information for Ikano Bank

Contact Details



Ikano Bank,

Savings Department,

PO Box 1328,

Newcastle Upon Tyne

NE99 5EA


Head Office:

Waterfront House,

Waterfront Plaza,

Station Street,




Telephone: 0371 880 6182


Email: No email address

Opening Hours: Monday - Friday 9am - 5pm

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