There are 2 parts to Weatherbys, the Private Bank and the Racing Bank. Weatherbys Private Bank offers banking services to private individuals, while Weatherbys Racing Bank provides racehorse owners and bloodstock industry professionals with bank accounts specifically designed for racing transactions.
We currently don't have that product, but here are others to consider:
How we picked these
Finder Score for bank accounts
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
Whether you’re after an account from Weatherbys Private Bank or Weatherbys Racing Bank, here’s what you can choose from:
Weatherbys Private Bank
Weatherbys Private Bank current accounts can be operated online or via the mobile app. The accounts come with a debit card that can be used to make purchases in person or online, at home or abroad. There are no foreign transaction charges for using your card for withdrawing cash or making payments overseas. Your dedicated Private Banker and assistant will always be on hand to help you with any queries and you can operate accounts in most currencies.
The main account has a £75 monthly fee, but this is waived if you have a combined balance of more than £300,000 in borrowing, deposits or investments with Weatherbys. For more detailed information about the private accounts on offer, you will need to make an enquiry.
Weatherbys Racing Bank
Racing Account
This is a simple bank account for UK resident sole or joint racehorse owners looking to separate their racing finances from their day-to-day banking. The account offers 5 free racing transactions per month and a 10% discount on Weatherbys VAT Return Service. There is a £5 monthly account fee, and if you pay a further £10 a month, you’ll have access to the Racing Payment Service to help pay invoices.
Multi Owner account
This account is designed for groups of owners (such as syndicates, clubs and partnerships) who are looking for a simple bank account to help them keep track of their racing finances. Again, the account offers 5 free racing transactions per month and a 10% discount on Weatherbys VAT Return Service. The account has a £15 monthly fee, with charges for additional racing transactions. For an additional £10 a month you can also access the Racing Payment Service.
Racing Gold account
An account available to sole or joint owners, bloodstock professionals and companies, plus owners who live outside the UK. It offers a more personalised service with a dedicated relationship manager, a debit card and an optional overdraft facility. Additional benefits include 20% off the Weatherbys VAT Return Service, and full use of the Weatherbys Racing Payment Service. The account also offers 10 free racing transactions per month and has a £30 per month fee.
Benefits of opening an account with Weatherbys
Fee-free foreign transactions. There are no fees for using your debit card abroad with the Weatherbys Private Bank current accounts.
Personal service. Depending on the account, you may have a dedicated relationship manager or Private Banker who will provide you with a tailored service.
Exclusive benefits. All Racing accounts offer discounts on the Weatherbys VAT Return Service to help you reclaim VAT on many costs such as training fees and vet’s fees.
Banking on the go. You can manage your accounts online or via the banking app.
How to open an account
To open a Private Bank or Racing Bank current account you can fill in a form online, contact the bank by phone or you can visit one of its main banking offices in London, Wellingborough and Edinburgh.
To qualify, you’ll usually need an income of at least £300,000 a year or assets worth than £5 million.
Is Weatherbys safe?
Yes, Weatherbys is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Eligible deposits are protected up to £120,000 per person under the Financial Services Compensation Scheme. This means you’ll be able to get your money back if the bank ever went bust.
Pros and cons of Weatherbys
Pros
Fee-free foreign transactions abroad
Tailored customer service
FSCS protection
Exclusive benefits
Cons
Monthly account fees apply
No interest paid on account balances
Additional fee applies to Weatherbys Racing Payment service (unless you have the Racing Gold account)
Customer service information for Weatherbys
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict
Weatherbys’ current accounts are tailored towards racehorse owners or those looking for a private bank. If that’s what you are after, the current accounts available certainly have a lot to offer. But if not, you’ll need to look elsewhere.
Frequently asked questions
Yes, Weatherbys is part of the Current Account Switch Service which offers the Current Account Switch Guarantee. This means your current account switch will be completed within 7 working days and if anything goes wrong, you’ll be refunded for any interest or charges made on either your new or old account.
Yes, you can use both Google Pay and Apple Pay.
You will be able to view account balances, make payments, view your transaction history, move money between accounts, request international and high value payments, upload and make payments in bulk, and use face ID, touch ID and fingerprint login.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time.
See full bio
Is Monzo’s app-only current account the right option for you? Read our review to get the low-down on all of the features of the account, its card and the app.
Premier bank accounts offer additional perks for people who hold significant sums with the bank providing them, and can be good value for money. We take a look at how they work, what features they offer and what the eligibility criteria can look like.
For foreigners opening a bank account in the UK, the process is easy and user-friendly, and often comes with attractive deals and discounts on transaction fees.
Avoid international transaction fees when shopping online or travelling overseas.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
