Atom Bank: A Smartphone Bank in the UK

Atom Bank is a digital financial company that provides mobile banking services through a smartphone app. The bank has no physical outposts. Anthony Thompson and Mark Mullen founded it in 2014 in Durham, United Kingdom. It was publicly launched in 2016.


Atom bank UK

Atom Bank Headquarters

Its headquarters are in Durham, United Kingdom. The bank also has a small office in London. The bank has no physical branches since it provides all of its services from the app.

How Atom Bank Works

It works entirely through an app on your smartphone or tablet. A card is not needed since money is moved via bank transfers. The app is made personal to you, and you can change your brand, theme, and your account name. Atom is currently only available on Apple Store. Android app is coming soon.

So, what are the basic app functions?

  • Atom products. It offers a small pool of different savings accounts and mortgages at competitive rates. You can apply for one of these options.
  • Your savings. Here, you can see how much money you have saved and how much money you will earn through interest. The interest rate will be displayed on the screen.
  • Your mortgage. Once you open a mortgage with Atom, an option to view your repayments becomes available on your screen. It shows how much and when you need to repay your loan.

atom bank UK

Atom Bank Customers

Atom bank is based in the UK. This goes without saying that the targeted customers are from the United Kingdom. You cannot open an account if you are not a UK resident. If you are a resident but you are going to live out of the country for more than three years, you will have to close your account. A significant number of Atom customers are in their forties. Atom bank was also granted permission to offer retail deposits in Germany via a partnership with Deposit Solutions.

Atom Customer Support

The bank’s smartphone app has a 24/7 support team on hand to help with any customer queries. This is done through phone, chat, email, and social media. The team ensures the right products, excellent service, and great value to their customers. The customers use face and voice biometrics to log in to the banking app. Atom bank also uses machine learning technology to guide its customer support team.

Products and Services Offered by Atom Bank

Atom bank focuses on savings, mortgages, and business loans. The savings products offered include fixed-term options that range from 3 months to 5 years. With the savings accounts, the bank offers mortgages through its app. This comes with great advice from an independent broker. You also receive update notifications on your mobile device.

The business loans are provided to limited liability partnerships, limited companies, partnerships, and sole traders. The loans offered come with a maximum Loan-to-Value rate (LTV) of 75% for commercial property investment, commercial owner-occupied and semi-commercial borrowers.

Does Atom Bank Have an App-Only or Both App and Website?

The bank is entirely app-based. All operations are carried out through the app. Atom bank also has a website although the website only directs you to download the app onto your smartphone.


Does Atom Bank have its own Banking License?

Yes. Atom bank secured a banking license in June 2015 and launched the following year officially with a pair of fixed-term savings accounts. It has been authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority.

Pros and Cons of Atom bank


  • You can register in under 30 minutes. This saves on time
  • Atom bank gives you the privilege to choose how long you want to save
  • It offers tight security that will ensure your money is safe
  • It displays your account balance and interest rates, and how much you will earn at the end of the saving period


  • Atom bank does not offer any card
  • The security features often take several tries to work
  • Atom bank app is clunky. Users have reported cases of crashing
  • The bank asks for a lot of information from you
  • The app is only available on Apple Store at the moment

Languages Supported by Atom Bank

Atom bank is a software application from the Accounting and Finance subcategory. It is part of the Business category. The app is currently available in English.

Atom Bank Customer Reviews

This digital bank offers the best services to its customers. 98% of online reviews through Reevoo are positive. Every customer has a story to tell. They recommend this bank to other people. According to the Smart Money People reviews, customers have rated the fixed saver account 2.84 out of 5, and 2.10 out of 5 for the Digital Mortgages.


Research: Vincent Nyoike

Vincent is a writer with an interest in finance, business, technology and health niche. He holds a Bachelors degree in Applied Statistics with computing. Read more about Vincent and see our complete editorial team at FiFi.