Al Rayan Bank Reviews

  Ratings based on 38 reviews       Last review 1 month ago    

Al Rayan bank is the UK's oldest and largest Islamic retail bank. Operating since 2004, they offer a range of financial products which are compliant with Islamic law. If you're looking for a Sharia compliant bank, read our Al Rayan bank reviews below...

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Al Rayan bank is the UK's oldest and largest Islamic retail bank. Operating since 2004, they offer a range of financial products which are compliant with Islamic law. If you're looking for a Sharia compliant bank, read our Al Rayan bank reviews below to see what our community is saying, or if you've already taken out home finance, or a savings or current account with Al Rayan Bank, why not leave a review of your own and help others find the best products for their requirements.

Overall Rating

Great

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Al Rayan Bank Review Insight

What are people saying in their reviews?

Price & Interest Rates

57% of feedback is People related

Customer profile

Top Age Profile: 55-64

Top Channel Preference: Online

Al Rayan Bank Products 38

Home Finance

Don't bother with an Islamic Mortgage

I'm been recently going through a re mortgage on my property, moving from Al Rayan to a High Street bank. Al Rayan just are not in a position to offer a good mortgage rate so I'm having to move from 4.8% interested rate to 1.3%. They just can't match... Read more

I'm been recently going through a re mortgage on my property, moving from Al Rayan to a High Street bank. Al Rayan just are not in a position to offer a good mortgage rate so I'm having to move from 4.8% interested rate to 1.3%. They just can't match that ever. I'm having to pay massive amounts of money just to transfer. I have payed £280 extra to a solicitor just for the fact it's an Islamic mortgage (a cost that Al Rayan do not tell you about when you take a mortgage out with them) I am also having to pay £500 to the management company of my flat as Al Rayan's name is on the title deeds which need to transfer to me once I move to a high street bank mortgage. That's an £800 hit just for having an Islamic Mortgage. They definitely do not tell you about all the onwards future cost and hassle you will have to go through if you ever try to re mortgage or sell your property. Also, regular conveyancers just don't have a clue about Islamic mortgages so you have to find a specialist conveyancer. Very annoying, very long winded, very expensive. Al Rayan make it expensive to be halal.

Reviewed on 13th October 2021
Shabina S.'s avatar
Shabina S.
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Savings

Bereavement

After the death of my father I was sorting out banking for my mother and their bereavement services were totally incompetent!Do not invest with them if you may need any help in the future. Would not even send me an addressed envelope until my mum... Read more

After the death of my father I was sorting out banking for my mother and their bereavement services were totally incompetent!Do not invest with them if you may need any help in the future. Would not even send me an addressed envelope until my mum passed her security questions, which she failed,due to my father setting up the account!! 0/10

Reviewed on 16th June 2021
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Alison Moir
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Savings

Avoid at all cost

Worst banking experience in my life. I'm not able to access over 14 grand of my money after login in online and phoning customer service several times. Avoid if you want to see your money ever again!

Reviewed on 6th May 2021
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Beatrice Ejikeme
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Savings

Great Rates

Interest rates are far better than the competition's

Reviewed on 15th April 2021
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Martin Gardiner
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Savings

Untrustworthy establishment

Breach of contract by giving under the implied notice on a notice account and then making errors leading to a formal complaint being issued. Shocking so called back, that I won't return to!

Reviewed on 11th March 2021
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Italiano
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Savings

Professional and consistent returns

I have held fixed term savings products with Al Rayan for some time now and always feel confident that they are working as hard as they can to nurture my savings. Great profit rates and communications.

Reviewed on 10th March 2021
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David
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Savings

Great returns

Great savings returns, ethical standards, and easy to set up and manage.

Reviewed on 10th March 2021
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David Nicoll
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Savings

Dreadful Online Access

When they stopped allowing customers to log on to their accounts using website access and changed to an app only system it completely messed up access to my online account and I was unable to log on. I transferred my ISA as soon as I could.

Reviewed on 26th February 2021
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Sarah
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Savings

Great Experience with Hassnain in Bradford

I cannot commend Hassnain (regional manager BRADFORD) enough as he assisted me with my Home purchase plan. He was always available, responded to my emails / calls, and assisted me immensely. He went out of his was even as my valuation was expiring to... Read more

I cannot commend Hassnain (regional manager BRADFORD) enough as he assisted me with my Home purchase plan. He was always available, responded to my emails / calls, and assisted me immensely. He went out of his was even as my valuation was expiring to help speed up the case.

Reviewed on 11th November 2020
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Ateeq Salik
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Savings

simplicity

about the best rates around with ease of use

Reviewed on 13th July 2020
Steve Ballard's avatar
Steve Ballard
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Savings

unprofessional, very arrogant and unhelpful

very rude customer service. just because they re the only halal bank in uk offering halal mortgage they think they can do as they please. they are very rude, they think they can get away with it because they are the only halal mortgage in uk.... Read more

very rude customer service. just because they re the only halal bank in uk offering halal mortgage they think they can do as they please. they are very rude, they think they can get away with it because they are the only halal mortgage in uk.

From day one they have been problematic. I still stayed patient and pushed through because it is a halal bank. But no more. it is April 2020 now. i have broken down and given up with this bank now.

They are just impossible to work with. they have a very informal approach where they try to befriend the customers, i guess they are fellow muslims so ok .... this in effect gives them a chance to be very intrusive. So intrusive that the mortgage advisor at the bank asked how much money my sister has saved up in total. This informal approach is very scary, daunting and invasive.

At the beginning they asked me some thing along the lines of "if im happy for them to hold my data" to which i said no... never have i been asked a such question in such a manner. He said to proceed we have to say yes to this question.. reluctantly i said yes.

I feel this bank, al rayan, is preying on muslims and taking advantage of customers because they think they are the only halal bank around.

i would never recommend this bank because:

1) there mortgage rates are very high at approx 4.79% ( ridiculous)
2) very unprofessional and aggressive. Arrogant.
3) at the beginning of an application they asked
4) very invasive. ask unnecessary personal question.
5) a very informal approach which is scary, as the advisors are very aggressive.

Reviewed on 27th April 2020
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umar chillazer
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Savings

Easy access savings at a fair rate

Nice to deal with and a competitive rate in todays troubled market albeit an expected profit rate rather than an interest rate, but I am happy with that.

Reviewed on 27th April 2020
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stevie b
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Savings

The Prophet

Anyone unlucky enough to work for this pigsty of a Bank,must have a place guaranteed in Paradise,with thousands of Virgins at their disposal.

Reviewed on 16th March 2020
ernest's avatar
ernest
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Savings

One word, OK two: "Very Poor"

I could write an essay but enough to say that if you're looking for customer service, responsiveness, IT efficiency, and a bank that gives you confidence - then go elsewhere.

Reviewed on 26th February 2020
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ArthurP
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Savings

NEVER experienced changes so inadequately thought through, backed up with customer service so poor, in, my, life.

I have just come off a one hour phone call to Al Rayan Bank. Awful, awful,... Read more

I have just come off a one hour phone call to Al Rayan Bank. Awful, awful, awful.

I have banked with Al Rayan for several years over several products. Their online web-based banking was always pretty "clunky" - but you could get what you needed to get done, done.

I run a number of important standing orders through one of my Al Rayan accounts - THERE IS NO VISIBILITY OF STANDING ORDERS AT ALL on their "app" - neither is there any immediate plan to make standing orders something you can view and work with via the app.

So, having switched to the app at their insistence, and only on a phone which is not my primary phone because my primary phone is Android 7, reports that it is up to date, and so does not give me an option to run Android 8, they have now cancelled my access to banking via their old on line platform, tell me that to cancel my registration on the app and reinstate my access to online banking would take longer than the remaining time that their online banking will be operational - they are denying me my right to work with my money that I chose to lodge with them. How they can launch an "app" which has LESS functionality than their existing, clunky, online banking, is beyond me.

Their "solution" is to send me a hard copy letter, in a time frame which they will not commit to, which will state all of the standing orders I have set up on the account. This will likely arrive with me AFTER the next date that most of my standing orders will be paid out. And to make any subsequent changes (more likely cancelling in full and moving my money elsewhere) to my standing orders, I will need to ring them - wait ages for them to answer the phone and accommodate the limited hours their phone lines are open e.g. not open at all on a Sunday and only open in the morning on a Saturday.

This is the pits. I bank with many, many providers and have NEVER experienced changes so inadequately thought through, backed up with customer service so poor, in, my, life.

Reviewed on 25th February 2020
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Norton
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Home Finance

Still Locked out

I received an email by this review site to comment further on whether my issue with Al Rayan Bank has been... Read more

I received an email by this review site to comment further on whether my issue with Al Rayan Bank has been resolved
I have just tried to pay my credit card bill. It failed! Even though I managed to get through the next day after my comment and I can now access cash from an ATM. Contactless payment is still hit and miss and embarrassing when it fails to someone with a perfect credit rating score like me.
When I can get in to central London I will definitely close my accounts which I have held since the Islamic Bank of Britain days.
It's service offering is just too limited for a modern day bank.

Reviewed on 16th November 2019
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Nicholas Morgan
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Savings

A telephone banking service which refuses to answer the telephone

I am currently locked out of my account and cant use my card at all. I have tried to call 3 times and waited nearly an hour in total for someone to pick up phone. No chance of that is there. Trust pilot reviews reveal some customers wait for over an... Read more

I am currently locked out of my account and cant use my card at all. I have tried to call 3 times and waited nearly an hour in total for someone to pick up phone. No chance of that is there. Trust pilot reviews reveal some customers wait for over an hour on a single call for that to happen and there are a plethora of complaints on the same issue. I have been a customer since day one but I recognise this is a Bank in serious decline who now holds its customers hostage. It's reply to customers complaints on Trust Pilot are similar to that of a dodgy tour company whose premises don't match up to the photographs. You cant even do a seven day switch because Al Rayan is not signed up to the service. I'm out of there ASAP. With a young child no access to my own money is a serious problem

Reviewed on 8th November 2019
Nicholas Morgan's avatar
Nicholas Morgan
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Savings

Appalling customer service

I opened an account 10 days ago to invest £50.000 in a fixed rate bond for 36 months, since then I have tried to contact the bank countless times, spending 40,50 minutes on the phone each time, listening to the same piece of music over and over before ... Read more

I opened an account 10 days ago to invest £50.000 in a fixed rate bond for 36 months, since then I have tried to contact the bank countless times, spending 40,50 minutes on the phone each time, listening to the same piece of music over and over before giving up.
In the meantime, I installed the app and tried to get access to my new account this way, I persevered dozens of times, it would either freeze in the middle of the process or crash !
I thanked god that I hadn’t transferred the funds yet, I would have been frantic at this stage.

Yesterday I managed to get through! Spoke to a member of staff named Shaheen, she was very friendly and sympathetic, unfortunately unable to help with the APP. She suggested managing my account by post or through a branch !!
Faced with these facts, that even if I manage to fund my account at their bank, I will be forever hanging on the phone, or dealing with the most frustrating and temperamental App, I decided to avoid such a precarious situation and invest elsewhere.

Reviewed on 5th November 2019
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L . Aziz
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Savings

Account opened efficiently

Account was easy to open online and the branch was helpful when I visited to bring my ID

Reviewed on 5th February 2019
Asiya Ali's avatar
Asiya Ali
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Savings

Good help when needed

Helpful staff and knowledgeable on what I needed

Reviewed on 16th December 2018
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Rukaiya
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