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Close Brothers

General Information

Overview

Close Brothers is a merchant banking group which was founded in 1878. It comprises three areas of business - banking, asset management and its Winterflood Securities business. The savings division sits within the banking business, Close Brothers Limited, which was formed in 1924 although it didn't launch its current savings operation until 2008.

Banking Licence

Close Brothers Limited have their own banking licence which isn’t shared with any other banks

Registration Numbers

Companies House Number: 00195626 *

Financial Conduct Authority: 124750 *

* Close Brothers Limited

Based: City of London

Date Launched: January 1878

FSCS Protected? Yes

Branches: Close does not have any branches

People of Interest

Head of Savings

David Wilson

Chief Executive

Adrian Salisbury

Saving Information

No. of Savers

Unknown

Amount of Deposits

£6.44bn as at 31st January 2021

Loan Book

£7.95bn as at 31st January 2021

Account Opening and Management

How Do I Open a Savings Account

Internet

How Do I Manage a Savings Account

Internet, Post, Telephone

 

Lending Activities

The banking division of the Close Group has four areas of lending:

* Premium Finance - financing the premiums on insurance policies for individuals and businesses

* Motor Finance - financing new and used cars, commercial vehicles, motor bikes, caravans and motorhomes

* Asset Finance - lending money to businesses to purchase assets for their business, across a wide range of industries including print, manufacturing, construction, transport and engineering

* Invoice Finance - finance to businesses against a proportion of the value of invoices issued

Close has also participated by lending to business via the government's Coronavirus Business Interruption Loan Scheme (CBILS)

Reviews

Feefo Reviews

No reviews on Feefo

Savings Guru Verdict

Close offer a range of savings products to personal savers (including ISAs), businesses and for SIPP and SSAS pensions.  Although the savings business is relatively new, the bank has endured for almost 100 years, it is profitable and well capitalised and is rightly seen as a safe home by many savers.  The main downside is that Close only offer a selection of savings products at any one time so choice for savers is often limited to two or three products.

Contact Information for Close Brothers

Contact Details

Address: 10 Crown Place, London.  EC2A 4FT

Telephone: 020 3857 3050

Website: https://www.closesavings.co.uk/

Email: savings@closebrothers.com

Open: Monday to Friday, 9am - 5pm

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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