Recognise Bank
General Information
Overview
Recognise is a specialist SME bank which was awarded its banking licence in November 2020 and launched its first savings accounts in September 2021. It is majority owned by Gibraltar based Parasol V27 Limited, a wholly owned investment company associated with the family office of real estate and technology entrepreneur, Ruth Parasol
Banking Licence
Recognise have their own banking licence which isn’t shared with any other banks
Registration Numbers
Companies House Registration: 10603119
Financial Conduct Authority: 849404
Based: London
Date Launched: November 2020
FSCS Protected? Yes
Branches: Recognise does not have any branches
People of Interest
Head of Savings
Gareth Plummer
Chief Executive
Simon Bateman
Saving Information
No. of Savers
Unknown - estimated at circa 10,000
Amount of Deposits
£411.7m as at 31st March 2024
Loan Book
£302.8m as at 31st March 2024
Account Opening and Management
How Do I Open a Savings Account
Internet
How Do I Manage a Savings Account
Internet, Telephone
Lending Activities
Recognise has five areas of lending:
1) Commercial Property - lending to property investors and SMEs who either own their premises or are looking to acquire them
2) Professional Practice Loans - lending to professional firms (e.g. accountants, doctors, solicitors) to finance their businesses
3) Working capital - short term finance (up to three years) to UK SMEs
4) Bridging loans - on commercial and residential property
5) Buy to let loans - on residential property for professional landlords with four or more properties
Reviews
Feefo Reviews
No reviews on Feefo
Trustpilot Reviews
Savings Guru Verdict
Recognise offer a range of personal notice accounts and fixed rate bonds. They also offer business savings including an easy access account, several notice accounts and short term fixed rate bonds. Given their small balance sheet of just £200m, their personal savings products tend not to be offered for long periods of time but their business savings products have been consistently on sale since they launched.
Contact Information for Recognise Bank
Contact Details
Address: 6a Austin Friars, London EC2N 2HA
Telephone: 0345 872 7888
Website: https://www.recognisebank.co.uk/
Email: support@recognisesavings.co.uk
Open: Monday to Friday, 9am - 5pm