Easy access
Atom Bank savings accounts review
Atom Bank offers a broad range of savings accounts with interest rates up to 5.1%.
No reviews yet.
Write a review
Atom Bank was founded in 2014 as the UK’s first app-based bank. It was also the UK’s first digital-only bank to be granted a regulatory licence.
As well as offering mortgages and business loans, Atom Bank also offers a range of savings accounts.
Atom Bank's top savings rate of 5.1% is available on one of its fixed-rate bond accounts.
Easy access savings accounts
Table: sorted by interest rate
Atom Bank's best easy access rate of 4.11% is significantly lower than today's market-best rate of 7.49%.
1 - 1 of 1
Fixed-rate bonds
Table: sorted by interest rate
Atom Bank's best fixed-rate bond rate of 5.1% is very slightly lower than today's market-best rate of 5.4%.
1 - 5 of 12
What is Atom Bank's best savings account with the highest interest rate?
The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.
Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Atom Bank offers, plus the highest interest rate currently available.
| Savings account types include | Easy access, fixed-rate bonds |
|---|---|
| Best easy access rate | 4.11% |
| Best fixed-rate bond rate | 5.1% |
| Fixed bond terms | 6 months - 5 years |
| Opening options | Mobile app |
| FSCS protection |
Sign up to get the latest savings account interest rates
Join 100,000 subscribers who are notified about better interest rates. Plus a chance to win £800!
By signing up you agree to receive emails from Finder and to the privacy policy and terms & conditions.
How to open an Atom Bank savings account
To open a savings account with Atom Bank, you will need to be at least 18 years old and a UK resident. To open an instant access account, you will also need to have a UK current account so that your savings and current accounts can be connected.
To apply for an account, you will first need to download the Atom Bank app (if you’re a new customer). Once you have downloaded the app, tap on “New customer, get started”, select the account you want and then tap “Apply”.
Completing your application via the app should only take a few minutes. You’ll need to provide a few personal details, such as your name, address and date of birth and set up your security. As part of the security set-up, you will need to provide a 6-digit passcode, a scan of your face and a recording of your voice.
Atom Bank will also run an identity search with a credit reference agency but for savings accounts, this will only leave a “soft footprint” on your credit file so it won’t affect your credit history.
Documents needed to open an account
When you apply for a savings account, you don’t need to provide any paper documents. Atom Bank will instead verify your identity electronically through the app.
Is Atom Bank safe?
Yes, Atom Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. This means all eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS).
Pros and cons
Pros
- Easy to open an account. Quick to open via the app and no paper documents required.
- Flexibility. Range of accounts available, whether you want to lock your money away or easily access your funds.
- FSCS protection. Money in accounts will be protected up to £85,000 per person.
Cons
- App access only. You can only open and manage your account via the app.
- Limited account balances. You can only save up to a maximum of £100,000 across all Atom Bank fixed rate accounts, and £200,000 across all Atom Bank savings accounts.
Our verdict: Is a savings account from Atom Bank worth it?
If you’re happy to manage your account via an app, the savings accounts on offer from Atom Bank are well worth a look. Both the easy access and fixed rate options pay competitive rates of interest and the application process is quick and easy.
However, if you’re looking for an alternative way to bank or an alternative type of account such as a cash ISA or regular saver, you’ll need to look elsewhere.
Frequently asked questions
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 has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
More resources on Finder
More guides on Finder
-
Revolut authorised as a bank after 3-year wait
Revolut will be able to offer its own loans and mortgages as a bank and deposits will be protected. Here’s what customers need to know.
-
M&S Bank Credit Card Purchase Plus Offer Mastercard review
Enjoy the longest introductory purchase 0% deal offered by M&S Bank, and earn M&S points on all your spending. Compare live rates and alternative options.
-
Winners of the Finder Green Banking Awards 2024 revealed
How green is your bank? We’ve published the winners and highly commended brands of the Finder Green Banking Awards 2024.
-
Winners of the Finder Green Banking Awards 2024 revealed!
Finder analysed the UK’s most popular banking brands’ sustainability credentials to reveal the winners of the Green Banking Awards 2024
-
Example email
An example of an email sent to Finder subscribers.
-
Finder Green Banking Awards 2024
These awards cut through the greenwash and recognise the banking brands in the UK which are sustainable and making a difference.
-
GoHenry vs Starling Kite: Find out which app is better
Learn more about GoHenry and Starling Kite and find out which is the better prepaid card option for your child.
-
Fixed-rate ISA calculator: Should you switch to a better rate?
Our fixed-rate ISA calculator estimates whether paying the get-out penalty on your ISA is worth it to open a new one at a better rate.
-
The ‘single tax’ revealed: What’s the true cost of being single?
Recent estimates suggest that over 8 million people live alone in the UK, so we’ve crunched the numbers to find the cost of being single.
-
Monzo’s new children’s account for under-16s, launching in 2024: What we know
Monzo is getting in on the cards-for-kids action. And this one is free. Get ready to dish out the Monzos, mum-zos!