ClearBank

ClearBank

ClearBank is a new clearing bank founded by WorldPay founder Neil Ogden. It is the first new clearing bank opened in the UK in 250 years. It is a ‘bank for banks’ and offers no services to the public. Instead, ClearBank focuses on delivering payment processing and banking services to financial companies including banks, building societies, challenger banks and financial start-ups.

Reviews Rating
78%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
64%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

ClearBank is a new clearing bank founded by WorldPay founder Neil Ogden. It is the first new clearing bank opened in the UK in 250 years. It is a ‘bank for banks’ and offers no services to the public. Instead, ClearBank focuses on delivering payment processing and banking services to financial companies including banks, building societies, challenger banks and financial start-ups.

Contact Info

Email
press@clear.bank
Address
floor+29, 30 Saint Mary Axe - Swiss Re, 30 St Mary Axe, London EC3A 8EP, UK
Phone
0203 111 2370

About ClearBank

ClearBank is a new clearing bank founded by WorldPay founder Neil Ogden. It is the first new clearing bank opened in the UK in 250 years. It is a ‘bank for banks’ and offers no services to the public. Instead, ClearBank focuses on delivering payment processing and banking services to financial companies including banks, building societies, challenger banks and financial start-ups.

ClearBank is only the sixth major clearing bank to exist in the UK (the others being Clydesdale and Yorkshire Bank, HSBC, Barclays, Royal Bank of Scotland and Lloyds). These are the only UK banks that can process payments from all major payment providers, so all companies taking or making payments in the UK must go through one of these six banks.

ClearBank Products and Services

 ClearBank has been built using cutting-edge technology aimed at making its clearing services cheaper and faster than those of its rivals. It can process payments from all the major providers including VISA, Mastercard, BACS, CHAPS, Faster Payments and Swift.

Alongside clearing services ClearBank also offers a means by which credit unions and building societies can offer banking services without spending a huge amount of money on building their own system.

All services can be accessed via a single, simple dashboard.

Security at ClearBank

ClearBank has a strong commitment to customer security and uses several means to ensure user identity can be verified.

On signup, a customer must upload photo ID, which is then matched to a photograph of the customer that they take themselves. ClearBank also uses voice recognition technology when needed, capturing the customer’s voice and comparing it to their known ‘voice signature’.

Palm biometrics is also used to read the palm veins and arteries of users. Palms are unique and so are a great way to authenticate an identity. Power users of ClearBank can use their palm as their second authentication factor if they choose.

ClearBank Bank Contact Details

Floor 29
30 St Mary Axe
London
EC3A 8BF

Telephone: 0203 111 2370

Email: press@clear.bank

Clear Bank

Have a question about ClearBank?

Find answers in Q&As and ask your question

How do i register — CHIDINMA Kontoh

Hi iv been a costem of fraud lately and this is the bank it came to, so want to no if I can get it back, — Richard Stewart

Does you work internationaly? — Eunice Engelhardt

ClearBank Reviews

Wrong Information
March 26, 2024

“ClearBank is banking as a service, it has no direct retail customers, it’s a bank for banks/fintechs”

ClearBank is banking as a service, it has no direct retail customers, it’s a bank for banks/fintechs. Almost all the information is wrong on this article.

Akinwumi Afolabi
March 26, 2024

“I think lemfi (lemonade) is working with this bank to scam people”

I think lemfi (lemonade) is working with this bank to scam people. I never open any account with this clear bank but went and open an account in my name and put it under my revolut account. Because all my account bear my name. Therefore, when I want to move money to my monese account.. I moved the money into clear bank….so painful..,still connecting them since. Please anybody with useful information on how I can get my money back 🙏

Vince Stop
March 26, 2024

“I was a victim of fraud by a customer of Clearbank”

I was a victim of fraud by a customer of Clearbank. Having investigated further this customer should never have been onboarded by a UK bank. Clearbank has very aggressive growth and market share targets and they clearly cut corners on their AML/KYC onboarding processes in order to achieve these targets. As a result they are giving criminals access to the financial system and enabling and supporting their crimes as a result.

Ferdinand Vi
March 26, 2024

“Reviewing without having no accounts.”

Reviewing without having no accounts.

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