Vanquis review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Vanquis is a sensible easy-access savings home if you want a variable rate, no monthly fee and money you can move in and out as often as you like.
Key facts
- Best for
- Savers who want fee-free easy access to a variable-rate pot.
- Headline rate
- 3.25%↗
- Rate type
- Variable↗
- Minimum deposit
- £1,000↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Unlimited withdrawals and deposits with no fees, notice periods or loss of interest; interest paid monthly or annually↗
- Monthly fee
- £0↗
- Account kind
- Easy access↗
- Legal entity
- Vanquis Bank Limited↗
- Headquarters
- United Kingdom↗
- Founded
- 1880↗
- Support channels
- Phone, Email, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- vanquis.co.uk
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Elsewhere
- WikidataWikipediaTrustpilotLinkedIn
Pros and cons
Pros
- Monthly fee of £0 on the easy-access account, so the balance keeps earning without an account charge
- A long-established UK bank, founded in 1880 and authorised by the Prudential Regulation Authority and the Financial Conduct Authority
Cons
- The rate is variable, so the 3.25% return can move over time rather than staying fixed for a term
- A minimum deposit of £1,000 is higher than the savings category median of €0.17
- The rate sits below the savings category upper quartile of 4.5%
Who it suits
- Savers who want access to their money without notice periods or withdrawal limits
- Anyone prioritising a fee-free balance over a higher headline rate
- People who want a UK bank with FSCS protection and support across phone, email and help centre
Who should look elsewhere
- Plazo ES and AXI Card Tarjeta y Credito, where the headline rate is 24.19% and 21.59%
- PayPal Colombia, listed at a headline rate of 3.3%
- Anyone who needs a minimum deposit below £1,000
Fees and currency costs
The easy-access account carries a monthly fee of £0, so there is no charge for keeping your savings there. You need a minimum deposit of £1,000 to open and hold the account, which is above the savings category median of €0.17. Money moves in and out of the account without charge, so the balance can earn while staying reachable.
How Vanquis compares
9.3 vs 8.6
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9.3 vs 9.1
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9.3 vs 8.7- 9.3 vs 8.0
9.3 vs 9.0
9.3 vs 8.1
9.3 vs 8.7
9.3 vs 8.0
9.3 vs 9.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 9.2
9.3 vs 9.0
9.3 vs 8.7
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.4
9.3 vs 8.3
9.3 vs 9.0
Where Vanquis is available
- Available
- United Kingdom
- Licence in United Kingdom
- Prudential Regulation Authority / Financial Conduct Authority (221156), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does Vanquis pay on easy-access savings?+
The easy-access account pays a variable rate of 3.25%. Because it is variable rather than fixed, the rate can change over time, so the amount you earn is not locked in for a term.
Is there a monthly fee on the easy-access account?+
The monthly fee is £0, so there is no charge for holding the account. The model is listed as no monthly fee, which makes it easier to compare with providers that deduct a charge each month.
How much do I need to deposit to open the account?+
The minimum deposit is £1,000. That sits above the savings category median of €0.17, so it suits savers with a lump sum rather than someone building a balance from a very small opening deposit.
Who is the account for?+
It fits savers who want easy access to a variable-rate pot with no monthly charge, and who like the reassurance of a bank founded in 1880. It is less suited to anyone locking money away for a set period.
Where is the account based?+
It is a UK account from Vanquis Bank Limited, based in the United Kingdom. Balances are held in pounds, which matters if you keep money in another currency, and eligible deposits sit under FSCS cover of FSCS up to GBP 85,000.
How do I get help if something goes wrong?+
Support runs on phone, email and help centre, so you can reach the team by phone, by email or through the help centre. The help centre is the most common channel among the savings accounts listed, while chat is less widely offered.
Sources
- vanquis.com/about-us checked September 26, 2026
Backs: Deposit protection, Founded, Headquarters, Legal entity, Licences
“Our story started back in 1880.”
- vanquis.com/contact-us checked September 26, 2026
Backs: Support channels
“If you need to call us, it's 0191 505 0033 ... Loan questions: Email our Loans Enquiries Team ... Start with our help centre”
- vanquis.com/savings/easy-access-accounts checked September 26, 2026
Backs: Account kind
“Compare our easy access accounts - Easy Access Account (issue 10) 3.25% gross/AER* (variable)”
- vanquis.com/savings/easy-access-accounts/easy-access checked September 26, 2026
Backs: Access terms, Headline rate, Minimum deposit, Pricing model, Monthly fee, Rate type
“Unlimited withdrawals and deposits with no fees, notice periods or loss of interest - Interest can be paid monthly or annually”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.