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Ikano Bank: Personal Loan reviews

Name: Personal Loan
Rating: 1.86 (36 reviews)

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1.97

Based on 36 reviews, last reviewed 11th Jul 2023

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

17%

3 star

11%

69%

Latest highest rating:

5

Again and again I've used Ikano bank for several personal loans and always found them to be spot on. Rates are low and Repayments are flexible. I've always paid my ... Read more Reviewed on: 11th July 2023

Latest lowest rating:

1

The worst bank to deal with Ikano bank just do not care about they client they just focus on make money out of them. I have been trying to get in touch for about 4 weeks and ... Read more Reviewed on: 10th May 2022

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About this product

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.

Ikano Bank Personal Loan reviews (36)

Review of the Ikano Bank, Personal Loan:

Horrific

I want to advise everyone to stay away from this company as I do not think anyone should have to go through the stress and upset I am currently experiencing with them now! I took out a 4 year loan with in 2014, I paid the agreed amount every month without fail. My contract was finished in 2018 and my final payment was made. I then moved the later received a letter from a debt collection company (Lowell) stating I was still owing £124! This was incorrect! I gathered all my bank statements and I had actually over paid! After years being messed around trying to contact someone who would help me clear my name I eventually spoke to someone in 2020 (please note the time scale here!) Who confirmed the debt had been reported wrongly and it would be corrected and I would receive confirmation of this in writing and a manager would phone me directly. Obviously this NEVER materialised, I phoned again in Febuary and was advised once again confirmed this was the case even though my credit score was still showing the same problem. I was told it would be updated and corrected at the end of Feb, once again surprise surprise this never happened. I called on the 18th of March and was told by Esme this should have been sorted and she would chase it up - telling me AGAIN I was not a fault! I phoned today as I had still not received the call from a manager or a written confirmation only to be told by Zigara my file would not be updated and the debt was correct WHICH IT IS NOT! WHAT AM I MEANT TO DO NOW! I have all the evidence to prove I am the victim here although Ikano seems to have no intention of admitting and correcting this! I only write this here today as a last resort as this problem is now affecting my life as I cannot get a mortgage because of Ikanos incompetence! Ikano get this sorted!!! I am waiting on a severe apology, and believe I should be refunded the money I have had to pay out checking to see if you had actually done your job which you did not!!! Ansolute sham of a company DO NOT GO NEAR THEM WITH A BARGE POLE! Reviewed on: 23rd March 2021

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 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 Reviewed on: 3rd January 2017

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 Response date: 10th January 2017

think these guys need to rethink going into personal, finance

rubbish , should stick to making furniture Reviewed on: 20th November 2016

Loan

Excellent service !!!! Easy to apply for a loan!! Reviewed on: 17th 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. Reviewed on: 1st November 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. Reviewed on: 9th September 2016

As bad as their furniture!

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 !!! Reviewed on: 4th August 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 Ikano up on this. Reviewed on: 27th June 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 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. Reviewed on: 20th 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 recommend this company if you want a quick and easy application !!! Reviewed on: 19th May 2016

Stlll waiting............

still waiting like last person said, so slow. Heard nothing since 20th April, when called they said we would hear soon. How long does one have wait! Reviewed on: 18th May 2016

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