London Banks

London Banks




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2017 RANKING & REVIEWS TOP RANKING BEST BANKS IN LONDON
Intro: Opening an Account at One of the Top Banks in London
There are several reasons you may be searching for the best London bank. You may be an expat who’s moving to the UK and hoping to open your first account at one of the best London banks. Or you may be a city native simply looking for a new bank in London. Whatever the case may be, finding the right one can be a challenge.
It’s critical to understand what differentiates the top banks in London and what exactly to look for when selecting a new bank.
When choosing from the banks in London, you’ll want to first consider the types of accounts they offer and whether they fit your requirements.
Some of the most common accounts provided by the top banks in London include current accounts to manage day-to-day spending and money, as well as packaged accounts, which can include added perks and benefits some customers might find beneficial.
Award Emblem: Top 10 Banks in London
Another important factor when ranking London banks is whether it is going to charge high fees. Fees are one of the primary differentiating factors that set top banks in London apart from less desirable options.
An additional consideration to keep in mind when comparing banks in London is how accessible and easy they make it for customers to do business with them.
Some customers may prefer only utilising in-branch banking, whereas other people may want the convenience afforded by the availability of phone, online, and mobile banking.
The following list of banks in London highlights the top London banks that excel in many ways, from offering an extensive portfolio of available products and accounts to delivering accessibility paired with low fees.
AdvisoryHQ’s List of the Top 10 Banks in London 
List is sorted alphabetically (click any of the bank names below to go directly to the detailed review section for that bank): 
Click here for 2016’s Top 10 Banks in London
Top 10 Best London Banks | Brief Comparison
Table: Top 10 Best Banks in London | Above list is sorted alphabetically
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services and products that are ranked on its various top rated lists?
Please click here “ AdvisoryHQ’s Ranking Methodologies ” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Banks in London
Below, please find the detailed review of each card on our list of best banks in London. We have highlighted some of the factors that allowed these London banks to score so high in our selection ranking.
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Barclays is a well-known name in the international personal finance world. It is also one of the top banks in London offering personal and business banking solutions. Barclays has a history of being a leading bank in London that spans more than 325 years , with beginnings on Lombard Street in London.
Barclays is a London bank that has consistently been an innovator in the banking and financial services industry, having launched the first ATM in the world. Key to Barclay’s strategy as one of the top London banks is building their strength as a transatlantic bank for consumers, corporate clients, and investment customers.
Key Factors That Enabled This to Rank as a Top Bank in London
When comparing London banks, the following are some of the primary reasons Barclays is on this list of banks in London.
An important consideration that weighed heavily into which names were selected for this list of the best banks in London were those financial institutions offering reward programs or benefits for consumers.
Barclays offers the Blue Rewards program , which is designed to reward loyal customers through the provision of monthly cash rewards. This program also provides members of this top London bank with cashback whenever they make a purchase through one of Barclay’s partners.
The top London bank offers a bonus of £7 a month just for banking with Barclays as well.
Members of the program can track their earnings through their digital wallet simply and conveniently. Other perks include insurance and mortgage rewards when members open these accounts, and there are rewards when members take out a personal loan as well.
Another popular and valuable rewards program from this top London bank that is separate from Blue Rewards is the SmartSpend Shopping program, which offers cashback from top retailers.
This program lets customers shop at retailers like Boots, Gap, Waterstones, and more, and they can also buy online at the SmartSpend Shopping site.
Then, when they shop at participating retailers, they receive their cashback rewards. For customers who are members of the Blue Rewards program, there is an additional bonus of 1% cashback when using SmartSpend.
One important reason Barclays was selected for this ranking of the best banks in London is because they have many different account options, designed to fit diverse banking and financial needs.
For consumers who want a flexible, convenient current account, this best bank in London offers the Barclays Bank Account . This account can be personalised with the add-ons you need to simplify your life.
You can open the Barclays Bank Account online, and you’ll receive your sort code and account numbers right away. There is also a wide variety of services, tools, and products you can select from the Features Store.
This account is also eligible for potential overdraft coverage of up to £5,000.
Throughout its long history, Barclays has consistently been an innovative London bank, and they continue that reputation today. Barclays offers the option to pay with an Android phone with Contactless Mobile . This program offers a fast, easy, and secure way to make payments. 
Customers of this London bank can link their Barclays debit card or BarclayCard to their phone and use it to pay wherever there’s a contactless symbol, which includes 400,000 locations across the UK.
All customers do is hold their mobile device over the reader, and payments are completed in seconds. Contactless Mobile can be used to make payments from £30 to £100 . Additionally, customers can use their phone as their travel ticket as well.
Halifax is part of the larger Lloyd’s Banking Group, and this London bank has roots that go back to the Industrial Revolution. In 1852, a small group of people gathered at an inn in Halifax to create an investment and loan society. The first iteration of Halifax was as a building society.
In 1997, the members of Halifax voted to transition from a building society to what would become one of the best banks in London. Since that time, there have been many acquisitions that led to the parent company of Halifax, Lloyd’s Banking Group, to become the largest retail bank in the UK.
Image Source: Lloyd’s Banking Group – Halifax History
Key Factors That Led Us to Rank This as a Top 10 Bank in London
Distinctive features offered by Halifax that led to its inclusion on this list of banks in London are cited below.
Halifax is a top bank in London that offers unique options like the Current Account Switch Service , designed to help customers quickly and easily transfer and close their old accounts they hold at other banks or financial institutions.
With the Current Account Switch Service, customers receive £100 just for moving their accounts to this London bank.
This service is available when a new customer is opening a Halifax Reward Current Account, Current Account, or Ultimate Reward Current Account at this top London bank. 
This bank in London offers several different convenient current account options, one of the most popular of which is the Ultimate Reward Current Account . This account features a broad range of benefits and additional perks, although it does carry a small monthly fee.
Some of the benefits available to Ultimate Reward account holders include:
An exclusive offering available to customers of this bank in London is the Online Loan . This loan is designed to be convenient and easy to apply for if you’re an existing Halifax bank customer for at least a month and are registered for online banking.
It takes only a minute to get a loan quote online from this London bank, and there are no credit searches. For those customers who are approved, they may receive money into their Halifax bank account in a matter of minutes.
If additional payments are made, there is no charge, and customers can manage their loan online with Online Banking. Loan amounts from this bank in London range from £1,000 to £50,000 , and different rates and various terms are available. Loans range from one to seven years. The interest rate is fixed, and repayments can be made by direct debit.
This London bank features credit card options including the signature Halifax Clarity Credit Card . This card has a simple rate, and it doesn’t carry usage fees, regardless of how it’s being used.
For this card, this London bank charges no fee to transfer a balance, no cash withdrawal fee, and there’s also no fee to use it anywhere around the world, making it an excellent option for frequent travelers.
There is no annual fee, and the card includes online fraud protection for online shopping.
The card can be managed online through Online and MobileBanking, it’s accepted anywhere MasterCard is, and faster payments can be made to the card, delivering a higher level of financial control and flexibility.
HSBC is one of the largest banking and financial services organisations in the world, with more than 45 million retail customers who are served by four separate international businesses. The HSBC network includes 71 countries in Europe, Asia, Africa, the Middle East, North America, and Latin America.
This expansive bank has about 4,400 international offices and is listed on stock exchanges in London, Hong Kong, New York, Paris, and Bermuda. The UK headquarters of HSBC is located in Canada Square in Canary Wharf, London.
Key Factors That Enabled This to Rank as One of the Top Banks in London
Some of the reasons this London bank is one of our selections for a best bank in London are highlighted below.
Important to the process of selecting the best banks in London is not just deposit accounts, but also the selection of lending products available to customers. As one of the best banks in London, this insititution makes personal loans available not only to HSBC clients but to non-HSBC borrowers as well. 
This personal loan carries an interest rate of 3.3% for loans between £7,000 and £15,000. That rate may vary based on the individual circumstances of the person applying for a loan from this London bank.
When current HSBC customers apply, they may receive an instant decision, and even non-HSBC current account holders will get a fast answer within about two to five business days.
Additionally, if a current account customer applies and receives funding, it may be deposited directly into their account once they’re approved.
This London bank offers a variety of diverse and flexible credit card options, designed to suit a wide range of consumers. The signature card offered by this bank in London is the HSBC Credit Card , which has benefits like 0% interest on balance transfers for 32 months and 0% interest on purchases for three months. It also has no annual fee.
Another option is the Premier World Elite MasterCard , which is for Premier bank account customers. Cardholders receive 40,000 reward points when they spend £ 2,000 in their first three months of card membership. This card does have an annual fee of £195, but it does come with additional reward point bonuses.
The Premier Credit Card is another credit product from this London bank that has a variety of rewards options with a points-based system. Cardholders can redeem points for everything from shopping vouchers to frequent flyer miles.
The Online Bonus Saver is a convenient savings account with a competitive interest rate, particularly for account holders at this London bank that don’t make any withdrawals during the month. If there are no withdrawals made for a statement month, bonus interest is earned. Interest is calculated daily and paid monthly on the full balance of the account.
All that’s needed to open an Online Bonus Saver is £1 . Only one of these accounts is allowed per customer.
This account is entirely online, which is ideal for customers of this London bank that want something accessible for managing their money and growing their savings. The Bonus Saver account from this bank in London allows customers to apply online and manage all of their balances and transactions online as well.
HSBC is one of the top banks in London not only because of their actual product offerings and their reputation, but also for their ability to deliver cutting-edge technology and innovation that simplifies life for all of their customers.
When a customer joi ns this London bank, they can manage their personal accounts in many ways, including from their mobile device. The HSBC Mobile Banking App has a secure digital key, touch ID, and features like Fast Balance that let customers see their live balances in up to three accounts without logging in.
Online banking, telephone banking, and branch banking are also options available to customers of this bank in London.
Lloyds Banking Group is a financial services company that serves communities throughout the UK, as well as millions of customers. Lloyds Bank has been in business for more than 250 years, and there are more than 1,000 high street branches available to clients. This London bank also has online, mobile, and telephone banking.
Products and services range from current accounts and savings accounts to mortgages, loans, private banking, and wealth management. This pick for one of the best banks in London is also the biggest provider of start-up financing for businesses in the UK.
Key Factors That Allowed This to Rank as One of 2017’s Best Banks in London
When reviewing and ranking London banks to include on this list of banks in London, the below criteria were important for Lloyds Bank.
When considering the options for our list of the best banks in London to include on this review and ranking, something that was prioritized was finding unique and distinctive offerings. One of these available from Lloyds Bank is the Save the Change program.
With Save the Change, every time a customer of this bank in London uses their Visa Debit Card, the amount is rounded up to the nearest pound and automatically deposited into their designated Lloyds Bank savings account the customer selected.
The rounded up amounts can also be added to a family member’s account.
The Save the Change program from this top London bank is available for most Lloyds Bank savings account, and it can be turned on or off. The nominated savings account can also be changed through Internet banking.
This program available from this leader among London banks makes it effortless to save more money and strengthen your financial life.
Club Lloyds is a current account program from this London bank that offers up to 2% AER variable credit interest to account holders, as well as a range of other valuable benefits. Club Lloyds requires no monthly account fee if the customer contributes £1,500 per month. Even if you do not meet that requirement the fee is only £3 per month.
Account holders earn credit interest on the entirety of their balance up to $5,000 . Nothing is earned on the amount over that. This account from this London bank also offers lifestyle benefits that can be selected every month ranging from cinema tickets to annual Gourmet Society memberships.
Members of Club Lloyds also receive discounted mortgage rates, exclusive savings rates, discounts on home insurance, and special credit card options.
This selection for one of the best banks in London features personalised balance transfer options for customers who move existing credit card balances to a Lloyds bank credit card account.
Lloyds will provide a personalised offer that can be valuable to customers if they’re paying high interest on their other credit cards, or want to consolidate their balance to one primary account. The offer will feature a low initial interest rate, and as long as the customer stays within their credit limit and makes their payments on time every month, they will remain eligible for promotional offers.
Benefits include not only a low-interest rate, but if the customer is a Lloyds Bank Choice Rewards credit card account holder they can build up their Choice Points, or their total Avios if they are an Avios Rewards credit card holder.
For customers seeking London banks that offer not only accounts but also loan products, Lloyds is an excellent option.
Popular from this bank in London is the Hassle Free Mortgage program. The Hassle Free Mortgage program is designed to take the stress out of buying a home, and Lloyds pays basic legal and valuation fees for customers, as well as arranging the mortgage.
This mortgage product from one of the top banks in London offers free standard valuation, no mortgage account fee, and clients who are obtaining a mortgage through this London bank will have access to Mortgage and Protection Advisors, delivering support and service throughout the process.
NatWest is part of the Royal Bank of Scotland Group, and this top London bank has a long history. NatWest started with a merger between National Provincial Bank, which was established in 1833 , and Westminster Bank, founded in 1836 . In 2000 , the Royal Bank of Scotland Group acquired what had become NatWest in a deal that was the largest takeover in British banking history.
As a result, NatWest is now part of one of the largest financial services groups in the world. Today, NatWest offers a range of personal, private, business, and international banking products and solutions, and is often selected as one of the top banks in London.
Key Factors That Enabled Us to Rank This as One of the Top London Banks
When comparing London banks, below are some reasons NatWest was ranked as a best bank in London.
Uniquely, this leader among London banks features c ashback mortgages , and the current offer provides first-time buyers £500 cash back . Buyers simply have to take out a first-time mortgage with Lloyds, and as long as they select a qualifying mortgage, they qualify for the program.
The residential property must be based in the UK, and the qualifying mortgages are marked with “cashback” on the website of this London bank.
Customers can also go online to compare mortgages from this London bank, including the ones with cashback deals, and compare their monthly payments on vary
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