OakNorth - Get £30 cash when saving (£2k required)
- Time needed
- 10 minutes
- Deposit
- £2,000
OakNorth offers competitive, FSCS-protected savings accounts, including easy access and fixed term options. A simple option is their Easy Access Tracker, currently paying 3.55% interest. New customers can currently get £30 cash when signing up via this promotion.
How to claim your £30
- 1
Sign up here - You’ll need to enter the details of a ‘friend’. Here’s the details of one of our team: Carl Gregory / carl.gregory@hotmail.co.uk
- 2
Open a new savings account within 30 days of submitting the referral form.
- 3
Deposit at least £2,000 within 14 days of account approval.
- 4
Keep £2,000 in the account for 30 consecutive days.
- 5
Once the qualifying criteria are met, you’ll receive £30 cash paid directly into your OakNorth savings account (or nominated bank account) within 60 days.
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OakNorth FAQs
Is OakNorth a Reputable Bank?
Yes, OakNorth is considered a reputable UK bank. Since launching in 2015, it has built a strong reputation for supporting small and medium-sized businesses (SMEs) and offering competitive savings products. OakNorth is authorised by the Prudential Regulation Authority (PRA) and regulated by both the Financial Conduct Authority (FCA) and the PRA.
The bank has received multiple industry awards for business lending and savings products and has grown rapidly while maintaining a strong capital position. Its focus on technology-driven lending and prudent risk management has helped it establish credibility in the UK banking sector.
Is My Money Safe with OakNorth Bank?
Yes, eligible deposits with OakNorth Bank are protected by the Financial Services Compensation Scheme (FSCS). This means that savings are protected up to £85,000 per person, per authorised bank, in the event that the bank were to fail.
OakNorth operates under UK banking regulations and is subject to strict capital and liquidity requirements. As a fully licensed UK bank, it must meet the same regulatory standards as other high street and challenger banks.
For savers, this provides reassurance that their money benefits from the same protections available across the UK banking system.
Is OakNorth a UK Bank?
Yes, OakNorth is a fully licensed UK bank. It is headquartered in London and authorised to operate in the United Kingdom.
While it has expanded internationally through lending partnerships and advisory services, OakNorth Bank itself is regulated in the UK and provides savings accounts and business loans primarily within the UK market.
Who Is Behind OakNorth Bank?
OakNorth Bank was founded by entrepreneurs Rishi Khosla and Joel Perlman. The bank was established to address the funding gap faced by small and medium-sized businesses in the UK.
The founders previously built a successful technology business before launching OakNorth. Today, the bank is backed by a range of global institutional investors and continues to be led by an experienced management team with expertise in finance, technology, and business lending.
Does OakNorth Bank have a refer a friend scheme?
Yes, OakNorth Bank has a refer a friend offer.
Right now, you can get a £30 bonus when you open and fund your savings account with £1,000 for 30 days.
Have a referral link to share? Share it on our sister site here.
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