Atom Bank Reviews

Disappointment and time wasted!

We applied through Atom Bank for a remortgage to free up some equity in our house. The rate was competitive and the terms of the mortgage appealed to my Wife and I so we instructed our broker to progress. Affordability was fine, documentation was...

We applied through Atom Bank for a remortgage to free up some equity in our house. The rate was competitive and the terms of the mortgage appealed to my Wife and I so we instructed our broker to progress. Affordability was fine, documentation was provided and a decision in principal was referred to the underwriters which I am told is common practice with a new mortgage lender. Digital required much more documentation than I have ever provided to a lender before, some of which was completely unnecessary. We were assigned a legal company for the conveyancing and a valuation visit was also booked. Out of the blue I received notification from the mortgage broker asking if I could explain transactions on my bank statement which showed adhoc payments being transferred to my parents....sums of money I choose to save each month, often coming back in to the account. I gave the explanation as required and thought no more of it as these payments were well within my surplus. After a week with no news I received a call from my broker advising that Digital 'didn't like the look of the payments to my parents' and had declined our application......3 weeks into the process! I am now in a position of having to push through the remortgage with another mainstream lender (whom, may I add, instantly approved us using all the same documentation) with only 3 weeks until my fixed rate ends.

My wife and I have exemplary credit records, have never missed a payment on any debt and passed the affordability check with ease.

Digital offer a very appealing rate but seemingly use odd criteria to determine whether or not to lend. If there was a solid reason for our rejection other than 'we don't like the look of the payments' I could appreciate their stance however I am left baffled and almost out of time......

EDIT following a response from Atom on TrustPilot and a phone call with them......

This was apparently a stress test taking into account the amount I save each month - which is obviously something I can stop immediately. Conclusion - they don't seem capable of assessing affordability correctly. The stress test was attempted with interest rates reaching 5% which I'm sure you'll agree isn't going to happen anytime soon. In addition I was applying for a fixed rate!

Daniel ColeLevel 1

(6)

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Great App

Easy experience. Only difficulty was the voice recognition which took 3 attempts

AnonymousLevel 1

(1)

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Good experience

Registered, Logged on, Transferred funds into Fixed saver without any problems. I decided to change to voice log on from face and carried this out without problem. Recommended this to my brother who did have a problem registering.

Martin BlundenLevel 1

(2)

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Amazing - opened an account in minutes

I installed the app and opened a savings account in minutes and the facial recognition login is so easy to use. The user interface is very different to conventional internet banking platforms, but is very clear and intuitive. This might sound a bit...

I installed the app and opened a savings account in minutes and the facial recognition login is so easy to use. The user interface is very different to conventional internet banking platforms, but is very clear and intuitive. This might sound a bit like Atom's own marketing, but for me this app and Atom's platform looks like the future.

PaulLevel 1

(0)

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difficult to log on

Have wasted 2 hours trying to log on. even rang and contacted them online but all they came up with was reload the app each time, I have an account already but cannot access it through the android app have used up all suggestions on how to log on....

Have wasted 2 hours trying to log on. even rang and contacted them online but all they came up with was reload the app each time, I have an account already but cannot access it through the android app have used up all suggestions on how to log on. This app is useless.

brianLevel 1

(4)

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Awful experience - do not use!

My partner & I were looking to purchase our first home and our broker suggested Atom banks digital mortgages. He said they were a new bank that would lend us the amount we needed for the first house of our dreams, he also said that as they were an...

My partner & I were looking to purchase our first home and our broker suggested Atom banks digital mortgages. He said they were a new bank that would lend us the amount we needed for the first house of our dreams, he also said that as they were an 'only digital' bank they would be the quickest option as our seller was looking for a quick sale. We were obviously very excited when they offered us a mortgage in principle and we began to plan for our new home once they accepted our paperwork and put the property forward for valuation. Other lenders check and approve the borrower before sending the property to be valued (i.e they check that they will lend to the person before checking that they will lend on the property) so us & our broker assumed that Atom had approved of us and just needed to check on the property. This is not the case with Atom. The property was valued and came back fine, we were then told to wait 48 hours for our official mortgage offer. Atom has appointed a solicitor to us and we were told to pay £300 for the search fees - again, we assumed that we were going to be accepted as the property has been sent for valuation and all had been fine so far. 4 days later, and after paying £300 for the solicitor searches that atom had appointed to us and a further £350 valuation fee, Atom declined our mortgage.

Our broker advised us that most lenders do not unnceccesarily charge for valuation fees if they do not plan to lend to the borrower, so he requested a refund of the valuation fees. Atom declined this request and refused to refund our valuation fee.

So now, not only are we £650 down, we are totally disheartened because of this awful experience of trying to purchase our first property. We ended up losing the house that we loved because of this. DO NOT USE THIS BANK!

L WatsonLevel 1

(22)

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GOD SEND APP!

I have always gone for easy access accounts and found them dull and boring I've found this fun to set up and with voice and face recognition the app feels great for security factor....

I have always gone for easy access accounts and found them dull and boring I've found this fun to set up and with voice and face recognition the app feels great for security factor.
I had no problems setting up and spoke to customer service advisors Paul and Julie via online chat who was very helpful with a few questions I had. It would be nice for customers to be able to develop their own logo but I guess there will hope for this in the future. I really can't fault it at all... keep up the good work Atom

Kellie Level 1

(2)

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Beyond frustrating

Tried to open an account via the amazing app and after 3 attempts I still couldn't give them my money. Sounds like this is a common problem! I'll wait until the app is a bit more developed.

AndrewLevel 1

(13)

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Very easy to setup.

Only took a few minutes to setup and use atom bank app.

AnonymousLevel 1

(0)

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Frustrating!!!!!

I can't download the app on my Galaxy S5 phone despite trying several times. It is supposed to be compatible with my phone but a message shows advising it isn't when I try to download the app.

AnonymousLevel 1

(5)

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USELESS

Have today tried to open a 1 year fixed rate account at 2%. App told me I couldn't. Called their helpline number and was told there could be a number of reasons for this. The main one seemed to be my current account was too old. First time in 34 years...

Have today tried to open a 1 year fixed rate account at 2%. App told me I couldn't. Called their helpline number and was told there could be a number of reasons for this. The main one seemed to be my current account was too old. First time in 34 years any bank and I have a number of accounts has refused to take Money off me.

AnonymousLevel 1

(2)

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Easy pezzie

Opened an account with Atom bank today. Easy pezzie even for a 73year oldcodger.

John RevillLevel 1

(3)

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No Worries

I opened my opened my one year fixed rate account easily" . 2% interest is great when you compare it to others. Best deal around and fully secure. It's a no brainer! Wife struggled because her store card was underwritten by another company and we...

I opened my opened my one year fixed rate account easily" . 2% interest is great when you compare it to others. Best deal around and fully secure. It's a no brainer! Wife struggled because her store card was underwritten by another company and we didn't recognise it but went to checkmyfile.com,got it sorted and now we have two accounts opened. Facial recognition can be a bit dodgy, but you can also use voice recognition, or number code to login so no worries whatsoever. Excellent!

Nigel WalkerLevel 1

(2)

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Shambles

Have now tried twice to open a fixed rate bond with different email addresses. No luck. Contacted bank twice on their chat line. Hopeless. Looked back at the number of adverse reviews - there are many. Someone in authority should take a hard look at...

Have now tried twice to open a fixed rate bond with different email addresses. No luck. Contacted bank twice on their chat line. Hopeless. Looked back at the number of adverse reviews - there are many. Someone in authority should take a hard look at their customer service. Not for me now. Don't trust them.

Roger BlackLevel 1

(12)

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A bit fidly...

... to set up. One wonders whether the app. was beta-tested. Finally accessible. When opening an a/c. for my wife, much easier.

H. PaynterLevel 1

(2)

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Easy to set up savings account with great online security

Top interest rate offered for fixed term savings, great online security features

Fiona KingLevel 2

(1)

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Simple, easy & fast account set up and funding and leading interest rates

First time I have ever set up an funded a new savings account within an hour with a new provider. Move savings to them due to the rate - but process has been faultless

StephenLevel 1

(1)

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Horrific experience AVOID

We were a pilot for Atom bank mortgages via our broker. It started off very well, but progressively got worse to the point that 10 days before the completion date , the app would not let me sign the terms and conditions. We were abroad and Atom bank...

We were a pilot for Atom bank mortgages via our broker. It started off very well, but progressively got worse to the point that 10 days before the completion date , the app would not let me sign the terms and conditions. We were abroad and Atom bank did not reply to any emails, as not only were they having app problems, but apparently their emails were not working either. It totally ruined our few days away whilst we were going a simple remortgage , as Atom did not liaise with us, the broker, or even their own solicitors. In the end they emailed us 3 days after the initial problems telling us to use yet another code, and then phone them etc... we decided not to go through the remortgage With them , as they never apologised, or kept us informed about rectifying the problems , and we were left to deal with it alone . Do not jeapordise your home , or more importantly peace of mind, by taking out a mortgage with Atom bank !

Meera Level 1

(20)

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Better than all the rest banks and building societies!

Only found out about this UK bank today and immediately opened a small Fixed Term/Fixed Interest Rate account. Where else can you get this great rate on deposit with UK FCS cover?Fairly easy to setup on my android phone although the voice recognition...

Only found out about this UK bank today and immediately opened a small Fixed Term/Fixed Interest Rate account. Where else can you get this great rate on deposit with UK FCS cover?Fairly easy to setup on my android phone although the voice recognition part took several tries before it was happy with my voice.
Cash sent from my linked bank account this evening so hope to see it in my new Atom account tomorrow.

AnonymousLevel 1

(2)

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Gave up

Gave up trying to open fixed deposit account ...couldn't get past the identity checks and no one can explain why nor follow up to resolve

AnonymousLevel 1

(5)

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