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Ikano Bank Personal Loan Reviews

Ratings based on 19 reviews Last review 3 weeks ago

Ikano Bank personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our Ikano Bank personal loan reviews can help you to find out what other people have to...

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Ikano Bank personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our Ikano Bank personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a Ikano Bank personal loan, we'd love you to write a quick review too.

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Your Personal Loan Reviews (19)

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21st April 2017

hopeless

I wanted to arrange a quick small loan, whilst I was away from home. They sent me a letter asking or bank statements, no email comms to tell me this. When I phoned them the customer services could not tell me what was in the letter. When I returned...

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I wanted to arrange a quick small loan, whilst I was away from home. They sent me a letter asking or bank statements, no email comms to tell me this. When I phoned them the customer services could not tell me what was in the letter. When I returned home they were asking for original bank statements, I bank online and do not have statements. I printed out the issued pdf statements I have and a week later these are returned as non original / certified. I have never had this before from previous loans, bank clearly not set up for either internet comms or proper credit tracking.

I have good credit and have now arranged loan with M&S which took approx 10 mins to fill in forms and have had a confirmation email, better rate too now I've had to wait for 3 weeks. Would not use Ikano again and advise others not too unless you want a lot of hassle.

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17th March 2017

Too much hassle

Was borrowing the minimum amount to cover some work being carried out at home. I earn a good income and have a good credit rating and Ikano advertised as being a quick and easy personal loan solution with a fast decision and...

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Was borrowing the minimum amount to cover some work being carried out at home. I earn a good income and have a good credit rating and Ikano advertised as being a quick and easy personal loan solution with a fast decision and payment.

Application online was relatively simple but all further communication with them was carried out by post which took days. They asked for copies of passports and three months of bank statements signed and stamped by the bank.

Four days later another letter arrived claiming the needed further information and asking me to call them. This resulted in two 20 minute phone calls going over the bank statements.

Three days after that a letter arrived claiming the loan was accepted...

Quick and easy... No

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22nd February 2017

Loan that say's they will help in dire needs but then tell you no way!!

Got a loan quite easily and was in my account the same day - all...

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Got a loan quite easily and was in my account the same day - all good
I have had the loan for 2 years with no trouble - all good
Then i changed my job and had to wait for 2 months to get paid next so called Ikano as they said there is no problem to move the loan repayment to another month and the month you missed will be added to the end of the loan. I called them back 7 days after and they told me this is not the case and was told wrongly by the agent. I then went through Ombudsman service to get this sorted for me as they knew they were in the wrong. This service sorted everything out for me. Now I'm back on my feet I will pay off the loan in full so I can get out from Ikano. They should stick to card and bonds and not loans as people to get in dire straits but they don't care. Better off going to a bank to get a loan as they do help and manage your loan from start to finish.

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3rd January 2017

SCAMMERS, STAY AWAY

I applied for a personal loan, was accepted and told the money would be in my account within 2 hours. I was on holiday at the time so I stupidly didn't check my bank and continued spending the money I thought I had. When I got home and checked my...

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I applied for a personal loan, was accepted and told the money would be in my account within 2 hours. I was on holiday at the time so I stupidly didn't check my bank and continued spending the money I thought I had. When I got home and checked my bank, I realised I hadn't received the loan and was broke. I contacted Ikano, and was told after further checks they withdrew the loan. They did not contact me to let me know this, so I'd been assuming I had the money all along and spending money I didn't have.
Fast forward to a month later (today), I received a text from my regular bank saying I'm overdrawn by £230 and have been charged an unplanned overdraft fee. I immediately checked online banking and found that Ikano had charged my first payment (£400) FOR A LOAN I NEVER RECEIVED BECAUSE THEY WITHDREW IT WITHOUT TELLING ME. I called Ikano and when they finally answered, they told me to call my bank and work it out with them. Outrageously rubbish service DO NOT USE THIS COMPANY

Reply from Ikano Bank
I’m sorry you didn’t have a great experience with Ikano Bank and for any distress this has caused you. If we got it wrong, then we’d welcome the opportunity to put it right. Please would you contact our Customer Service team on 0371 781 3080. Thank you. Simon Ripton Head of Consumer Banking, Ikano Bank UK
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1st November 2016

completly waste of time

dont apply with ikano.. i applied for loan about month ago didnt hear anything from them for 4 weeks when i contacted they said they can not proceed with my application they could say this to me in 1st place rather than wasting 1 month time of mine.

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dont apply with ikano..
i applied for loan about month ago didnt hear anything from them for 4 weeks when i contacted they said they can not proceed with my application they could say this to me in 1st place rather than wasting 1 month time of mine.

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9th September 2016

2 weeks in and still no loan

I applied for a loan 2 weeks ago and after many calls, each of which led me to believe that I would have the funds the following day, I still have nothing. I am assured that the loan is approved however I have since applied with another lender.

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4th August 2016

As bad as their furniture!

Trying to get a loan from them, was like being in front of the Soanish inquisition....

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Trying to get a loan from them, was like being in front of the Soanish inquisition.
Went through a deep telephone grilling, answering all their questions honestly and proving I was more than capable of paying the monthly repayments.
Obviously, someone on a more hefty salary decided otherwise !!
As bad as their furniture !!!

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27th June 2016

Quote more than double the advertised interest rate

Just got a quote for a loan to refinance the one I already have. Advertised rate 3.2%, rate quoted 7.2% - more than I am paying at the moment. My own bank, who aren't the greatest, have offered me a rate below 4%. Needless to say I won't be taking...

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Just got a quote for a loan to refinance the one I already have. Advertised rate 3.2%, rate quoted 7.2% - more than I am paying at the moment. My own bank, who aren't the greatest, have offered me a rate below 4%. Needless to say I won't be taking Ikano up on this.

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20th May 2016

Messed around

So after waiting over a week to hear back and numerous calls to them, I called today to be told the loan was not accepted?! They did not have the decency to email me with the outcome or contact me within the 24 hours they promised. I have luckily...

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So after waiting over a week to hear back and numerous calls to them, I called today to be told the loan was not accepted?! They did not have the decency to email me with the outcome or contact me within the 24 hours they promised. I have luckily passed elsewhere for a loan and I am glad to not be dealing with this company as they dont know how to communicate with their customers. I have been waiting more than a week and I Have had to call them yet again! Disgusting . Do not deal with this company if you want any response at all! If i could give no stars I would.

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19th May 2016

Still waiting!!!

I have never ever known anything to be so slow..... I was told i would hear something in 24 hours that was yesterday morning. Still nothing.... No communication, no emails... When I call up I get asked to call back as they are busy! I would not...

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I have never ever known anything to be so slow..... I was told i would hear something in 24 hours that was yesterday morning. Still nothing.... No communication, no emails... When I call up I get asked to call back as they are busy! I would not recommend this company if you want a quick and easy application !!!

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18th May 2016

Slow process...

Still waiting for application to go through! Completed this middle of last week, thought I would recieve email with information (like it states on website) did not. Instead recieved a letter asking for bank statememt. Sent that away a few days back...

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Still waiting for application to go through! Completed this middle of last week, thought I would recieve email with information (like it states on website) did not. Instead recieved a letter asking for bank statememt. Sent that away a few days back and still nothing back. Poor communication and false information on website. Very slow process... Can't rate the loan or service as not received the funds yet! I have had loans in the past and have never known anything to be so slow. I wouldn't mind if they kept in touch with updates on my application! I didn't even know at 1 point if the credit check had been succesfull. Potentially missed out on car I want because of this. Kind of wish I'd applied elsewhere but too late to do that now as too many credit checks would kill my credit. Just going to have to wait it out.

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28th April 2016

Slow and Cumbersome

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Pour communication, the online loan application says they will telephone or email for any further detail. They requested detail via post, which did not arrive even after 7 days. Email is more reliable than the postal service and also legally binding. After telephoning the bank they told me to send in further information confirming my address which later they informed me they did not require, but then asked for a bank statement. We live in the 21st century people don't receive hardcopy statements or utility bills anymore and getting them is costly. 7 days passed, so using the next loan provider on GoCompare they turned the loan around in 48 hours with no issues. This process has cost me the same amount in savings that IKANO offered against the next loan provider. I have no CCJs and an excellent credit history with a good income with no large outgoings, so why had this got be so painful for a reasonable sized loan?? IKANO should request via email or phone all decision making documents with in the first 24hours.

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