Withdrawals are not permitted. They are a Sharia bank so this account pays expected profit, … These work in conjunction with our own protective measures to enhance the overall security set, You can email us at webfraud@alrayanbank.co.uk, Give us a call or visit a branch; please visit the contact us page for our up to date contact details, Deposits may be made via a direct account transfer or a cheque from an account in your name, Transfer existing ISA balances into your Al Rayan Bank Instant Access Cash ISA, Flexibility to make additional deposits with no minimum amount, up to your annual cash ISA allowance, Instant access to your money online or through our telephone banking service, Access to your funds through the post or in a branch, Transfer funds from another account in your name, Take your cheque to one of our branches, or send it to Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ with your account number written on the back, By downloading a copy from our website at alrayanbank.co.uk, Through Mobile Banking (if you haven't already, you'll need to register. Al Rayan Bank is a wholly Sharia compliant bank, as are all of the products and services that we offer. Register by clicking ‘Register now’ below. Financial Services Limited is a wholly-owned subsidiary of Which? In the Isa market, Al Rayan Bank currently offers a 12-month and 24-month fixed-term cash Isa, with a 1.6% EPR and 1.8% EPR respectively, and an instant-access Isa with an EPR of 1.35%. Al Rayan Bank mortgages follow Sharia law, which forbids companies from charging. You can make a deposit in any of the following ways: Please note that you can only pay into one new cash ISA in each tax year. Malicious parties can attempt to repackage banking apps to add compromised code; your new mobile banking app will prevent such attempts. Fngerprint and facial recognition technology help to ensure the most accurate identification and verification, An in-app secure messaging feature within your new mobile banking app allows you to communicate securely with the Bank, The application will automatically time out after a period of inactivity, Your new mobile banking application reduces reliance on older identification methods such as passwords and SMS texts for an improved, yet secure experience, Your new mobile banking application has been developed to proactively defend itself against the most advanced mobile threats, Your banking app will not install or load on a jailbroken or rooted device, please use an unrooted device or a device running the original manufacturer’s operating system, Some untrusted applications use frameworks to modify the banking application’s behavior; if your mobile device is detected to be running such a framework, it will not start, If an untrusted keyboard is detected on your mobile device, your new mobile banking application will prevent it from running until the untrusted keyboard is uninstalled, To protect your banking data from fraudulent screen captures, your new mobile banking app will detect untrusted screen readers and prevent it from displaying your data while the screen reader is running, Operating system debuggers can enable malicious parties to interfere with the banking software. Stocks and shares ISA transfer authority form, Financial Services Compensation Scheme (FSCS), If on account opening you deposited £1,000 into your Instant Access Cash ISA and made no further deposits or withdrawals, the estimated balance on the first anniversary of your account opening would be £. Following the launch of the UK’s first ever Sharia compliant Cash ISA, Al Rayan Bank PLC, formerly known as Islamic Bank of Britain, has today announced the launch of its Instant Access Cash ISA. Group of which we are part. Al Rayan Bank Notice Cash Isa is paying 2.02% on balances of £250 and above. Money Compare is a trading name of Which? Runpath has no influence on these ratings. 0.75% Al Rayan Bank 24 Month Fixed Term Deposit Cash ISA – minimum deposit £1,000; apply and access online, by post, telephone and in branch. Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665, and is an Introducer Appointed Representative of Which? This means its mortgages charge rent instead of interest. Group to be independent and impartial in how it helps consumers make informed decisions, raise awareness of consumer needs and drive positive change. Money editorial team and reflects the quality of service Which? Further additions allowed for up to 30 days after the account is opened. The joint-top five-year rate of 1.25% is offered by Shawbrook Bank and UBL. In fact, Al Rayan has a good reputation for paying good interest rates (profit rates) on its deposit accounts in the UK. Log off after you have finished using any banking application. If you already hold an account with Al Rayan Bank, you can apply for our saving accounts through your Mobile Banking facility. Al Rayan Bank Plc provides products and services in the areas of retail banking, premier banking, business banking, Sharia banking. Al Rayan Bank is a wholly Sharia compliant bank, as are all of the products and services that we offer. Instead money is used in a productive way and wealth is only ever generated through Sharia … Avoid Al Rayan Bank like the plague. - Additional permitted ISA subscriptions are not accepted. Which? If you think you’ve fallen victim to a scam, if someone has taken money from your account or if you’ve accidently given your details to a fraudster, please report it immediately to Action Fraud by calling 0300 123 2040 or online. You can download, print and complete an application form, and send it along with the required proof of identity and address to. Which? You can withdraw your funds in any of the following ways: It is important to remember that money you pay into, and then withdraw from an Al Rayan Bank ISA, still counts towards your annual ISA allowance. Al Rayan launched ISAs in 2015. Income we generate from our commercial activities helps the Which? The Which? If you decide you do want a longer fix, Zenith Bank UK and Secure Trust Bank offer the joint-top rate of 1%. Al Rayan is a Bank in transition. *This is our current understanding of the annual ISA allowance. If you do wish to complain about Money Compare, please see the full details of how to register a complaint here. The maximum amount you can contribute to an ISA is £20,000 for tax year 2020/2021, all of which can be held in a Cash ISA. Runpath Digital and lovemoney.com financial services limited are not members of the Which? Runpath receives a commission from some of the brokers and providers listed on the Which? Al Rayan Customer Service confirmed that they are aware of this problem BUT they, as front line staff, cannot do anything about it!!! Please also inform us as soon as possible: The UK's only Sharia compliant instant access cash ISA. If you would like to proceed with your application, please call us on 0800 408 6407. Al Rayan Bank is not responsible for the content of external websites. 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