Written by 
Online banking with a difference – Atom Bank review
If you’re thinking of switching banks, or interested in knowing the alternatives…
Great, this Atom Bank review is for you!
Atom Bank’s one of a new breed of challenger banks in the UK, keen to improve your banking experience. You’ll soon notice the difference with its unique perspective on digital online banking.
“We’re the UK’s first bank built exclusively for mobile. We’re redefining what a bank should be, making things straightforward, personal and great value. What’s more, we’re always at hand, because we’ll be packing an entire bank into our App”. [source: https://www.atombank.co.uk/]
It’s the new player on the banking field – welcomed by customers, but perhaps not by the banks…
What’s the benefit of being an Atom Bank customer?
Based in Durham, England, Atom Bank is launching as the UK’s first all-digital, mobile online-only bank in mid-2016.
With customer satisfaction at its core, Atom online banking will do all it can to be a customer success and plans to provide customers with
“…value for money, with service at the touch of a button. A bank that’s fair and transparent, that acts in the best interest of its customers.” [source: https://www.atombank.co.uk/]
Atom Bank’s fully geared for the electronic age – ready to provide trustworthy transactions 24/7 with biometric security.
Atom Bank mobile app – what does it look like?
The graphics used for Atom Bank’s mobile app are stunning. Check out the screenshots below, and you’ll see what I mean – I’m sure you won’t have seen a banking homepage quite like Atom Bank’s before!
To create each user’s unique, secure profile in Atom’s mobile app involves creating a passcode and then setting up facial recognition and voice activation. Together these create a unique colour palette.
Those details are used to create your unique profile as well as your unique in-app homepage (aka, the playzone) – see images below:
Atom Bank mobile app – what does it include?
Atom’s hi-tech plans for its banking app include 3D visualisations with gaming technology:
- open an Atom Bank account in-app in just a few steps (if you’re [18 years old or over] living in the UK, you’ll be able to apply for an Atom Bank account]
- you’ll receive your own unique Atom logo and be able to name your bank in the app, whatever you choose
- you can login using face and voice recognition and you’ll have 24/7 access to Atom Bank’s UK support team
- the app predicts how much interest you’ll earn in the months to come, and nudges you if you need to take action in your account
- get full access to all Atom Bank accounts in-app
Atom Bank currently has no plans to provide access to its banking services via a website.
Who founded Atom Bank?
Anthony Thomson (former chairman of Metro Bank) is the co-founder of Atom Bank and Mark Mullen (former First Direct chief executive) is Atom Bank’s chief executive. They’re both big names with lots of experience in the banking sector, and ready to lead the way with Atom Bank.
Atom Bank’s product range
Atom Bank will have a full range of good quality financial products for business and personal use, including mortgages, credit cards, loans, savings and current accounts.
The big difference is that all transactions will be done securely online and via mobile phones, rather than in branches.
If you like the idea of 100% online banking, by a bank that treats customers fairly, then perhaps it’s time to re-consider your current banking priorities.
Atom Bank’s not yet launched its current account, but you can open a savings account. The first product to be offered – the Fixed Saver account:
- open as many Fixed Saver accounts as you like, each with a minimum £50 deposit
- interest paid monthly or yearly of approximately (as at Sept 2016) 2% for 1 year Fixed Saver and 2.2% for 2 year Fixed Saver
- deposit funds by electronic transfer from another bank/building society during the deposit window
- the deposit window is until 9pm the following day, after your account has been opened
- no withdrawals or transfers allowed for the Fixed Saver term
Please visit Atom Bank’s Fixed Saver for the full terms and conditions.
Atom Bank’s current account is the next product soon to be available.
How can you find out more information about Atom Bank?
You can find out more information about Atom online banking products and services at its website.
You can also register your interest for Atom to let you know when it launches.
In the meantime, follow on Twitter @atom_bank or LinkedIn atom-bank.
Note: this review is a general resource and does not constitute professional advice. PeasOnToast.co.uk is not authorised by the Financial Conduct Authority with whom you should seek financial advice.
.png)
- reviews to save you time looking for good value, quality household/fintech products
- blog/tutorials for any of you website newbies to follow my PeasOnToast learning curve
- Monzo Bank review – 100% smartphone banking exceeds expectations - 16th October 2016
- Atom Bank review – the new player on the banking field - 4th September 2016
- How to use SendinBlue email automation – step-by-step guide - 19th August 2016
Since I downloaded the ATOM Bank app I have found it to be unreliable, unstable and the worst mobile banking experience I have ever had. Three times now I have tapped the app to then see an error screen which can not be got rid of without – in the first two cases – deleting the app from my iphone, calling for a code, re-installing the app, and then re-entering all my details including face pic, 3x voice recordings. Today the same happened except it took 2 calls to call centre, ang had to start to register as new before it tracked I had an account – still had to re-do all my biometrics. So in the few months I’ve had it, it’s snapped a pic of my face on 3 separate occasions, and I’ve had to make 9 recordings of my voice.
It’s unstable in my experience, crashes far too often, and although I’ve enjoyed three different sets of personal colour pallets, it’s frustrating that in my experience it’s not worked or crashed more often than it has worked.
Hi Jeremy – I’m sorry to hear that you’ve not had a good experience with Atom Bank’s app. Unfortunately, I can’t replicate those issues as I’ve got an Android phone, and not an iPhone. For me, Atom Bank’s app has worked fine and logs in without any issues. Please remember that Atom Bank has only recently launched and many features are still in beta, so it’s to be expected that some people may experience issues for a while, which will be corrected in future app updates. If you’re keen to stay with Atom Bank through this initial launch period, please contact their customer service again so that they can do more to resolve the issue. Atom Bank’s customer service is contactable 24/7 on 0333 399 0050 or you can tweet @AtomHelp.