Provider profile · 2026 edition
Bank of London review 2026: scores, fees and alternatives.
A UK clearing bank that holds deposits at the Bank of England.
WhatsApp and Telegram +44 7563 115980
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A UK clearing bank that holds deposits at the Bank of England.
Bank of London scores 3.5 out of 5 (69 out of 100) in the Buckingham Intelligence Safeguarding Banks Index 2026 and ranks 7 of 14. It is strongest for firms opening accounts during authorisation, with 5 out of 5 for products. Not published or not stated on the pages read: who it serves, pricing, protection and scale, published pricing and technology.
Scores from the Safeguarding Banks Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For E-money institutions | 69 | 7 of 14 |
| For payment institutions | 70 | 7 of 14 |
| For firms applying for a licence | 68 | 6 of 14 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
Firms opening accounts during authorisation.
What Bank of London publishes on its own pages, read on 21 October 2026.
A UK clearing bank that holds deposits at the Bank of England. It publishes safeguarding accounts built for EMIs and PIs with an FCA-compliant acknowledgement letter, agency banking with sponsored sort codes, and an operating account for firms still going through FCA authorisation. It does not publish prices, timelines or client numbers.
| Fact | What the provider publishes |
|---|---|
| Legal status | "'Bank of London', 'The Bank of London' and 'TBOL' are registered trading names of The Bank of London Group Limited." "Bank of London is a bank authorised by the Bank of England's Prudential Regulation Authority" and "regulated by the Financial Conduct Authority and the Bank of England's Prudential Regulation Authority." FRN 930379. |
| Who it serves | Safeguarding accounts "Built for E-money Institutions (EMIs) and Payment Institutions (PIs)"; also "pre-regulated entities, businesses in the process of obtaining FCA authorisation". Minimums and countries not published. |
| Products | Safeguarding accounts with deposits "kept 100% at the Bank of England"; operating accounts; CASS accounts; virtual accounts; "Agency Banking sort code sponsored scheme access". The bank describes itself as "a direct settlement participant in Bacs and Faster Payments, with access to CHAPS" and "directly connected to UK payment schemes"; clients reach Faster Payments and Bacs "through our indirect access model, without the need to become a direct scheme participant". |
| Pricing | Not published. |
| Onboarding | "Open an operating account to manage your business funds during the authorisation process"; "we can establish safeguarding account structures in readiness for go-live once authorised." No timeline or document list. |
| Technology | "Real-time access to payment infrastructure and interbank networks though API or Online Banking"; API documentation for Faster Payments, Bacs and CHAPS; virtual IBANs with "a reconciled ledger of customer balances". |
| Protection and scale | "All deposits held 100% at the Bank of England, fully liquid and FSCS protected". Provides "an FCA-compliant acknowledgement letter". No client numbers published. |
| Date read | 21 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 21 October 2026 from: bankoflondon.com, bankoflondon.com/what-we-offer/accounts/…, bankoflondon.com/who-we-serve/…, bankoflondon.com/who-we-serve/…, bankoflondon.com/what-we-offer/….
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Safeguarding Banks Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| ClearBank | 4.2 | 1 of 14 | EMIs and PIs needing direct UK and EU scheme access |
| European Merchant Bank | 3.8 | 2 of 14 | EU EMIs wanting a published safeguarding tariff |
| Mano Bank | 3.8 | 3 of 14 | EU EMIs and PIs wanting fixed published safeguarding fees |
| Memo Bank | 3.6 | 4 of 14 | EU firms wanting interest on safeguarded euros |
| Magnetiq Bank | 3.5 | 5 of 14 | EEA EMIs and PIs still in the licensing queue |
| Banking Circle | 3.5 | 6 of 14 | Multi-currency safeguarding across the UK and EEA |
| Griffin | 3.2 | 8 of 14 | Dedicated per-customer safeguarding accounts |
| LHV Bank | 3.0 | 9 of 14 | GBP and EUR safeguarding with agency banking |
| Starling Banking Services | 2.8 | 10 of 14 | UK payment firms wanting their own sort code |
| Solaris | 2.2 | 11 of 14 | A second safeguarding account for licensed EMIs and PIs |
| CaixaBank | 2.1 | 12 of 14 | Payment firms licensed or passported into Spain |
| BNY | 1.9 | 13 of 14 | Large EMIs investing safeguarded cash in money market funds |
| Sutor Bank | 1.9 | 14 of 14 | Digital e-money and payment firms using banking as a service |
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. Bank of London is compared with its alternatives in the table above.
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