Weatherbys Bank is a well-established bank based in Weatherby, Yorkshire.
A family business dating back as far as 1770, Weatherbys focus is combining traditional values with a modern approach to banking. The company pride themselves on delivering exceptional service with bespoke, personal advice that is tailored to the individual rather than a blanket computerised credit scoring approach.
The bank offers a range of services including private banking and the Racing Bank, which specialises in accounts for those involved in horse racing. With the famous racecourse in Weatherby, the bank provides services to outright owners, syndicates and trainers. The bank also offers mortgages, loans, current and savings accounts.
Weatherbys Bank was established in 1994 when parent company Weatherbys received a banking licence. Focused originally and to this day on providing banking services to the sport of horse racing, the success of the racing bank led the company to add a private banking facility and begin providing services to a wider customer base.
The parent company, known simply as Weatherbys, was founded in 1770. The company is the central bank for the British horse racing industry, as well as maintaining the Thoroughbred breed register. Weatherbys has been owned and run by the Weatherby family since its inception and is now in its seventh generation of family management.
Weatherbys Bank Products and Services
The Weatherbys Racing Bank provides racehorse owners with a banking service for racing transactions and finances that can be kept apart from their ordinary day-to-day banking. The Racing Bank is also open to people working in the bloodstock industry.
Weatherbys specialise in bespoke lending, both loans and mortgages. Rather than using credit scoring, decisions are made on a case-by-case basis. Private banking customers can also choose from a range of deposit accounts – both instant-access and fixed term.
Weatherbys also offers asset finance through a wholly owned subsidiary, Arkle Finance. Arkle helps large and small businesses and individuals to purchase assets including vehicles and property that will assist in growing their business.
The investment and advice team work with high net worth individuals to plan their investments, retirement or succession planning.
Insurance products are offered via Weatherbys Hamilton, an insurance broker that forms part of the larger Weatherbys Group of companies.
Weatherbys also provides foreign exchange services including spot foreign exchange, forward exchange, onshore currency accounts and currency options.
Weatherbys Bank Security
Weatherbys Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority. Deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS) the UK’s deposit protection scheme.
Weatherbys Private Bank
Bankers have access to a variety of services including financial advice and Weatherbys aim for customers to stay with them for life. Features of the current account include access to a personal advisor, contactless Visa debit card, cheque book, 24/7 24/7 online and mobile banking, overdrafts, free transactions, emergency card replacements and overseas banking.
Weatherbys Racing Bank
Clients have access to a comprehensive range of specialist banking and accounting services. Key features include online, phone and mobile banking, electronic bank statements with VAT breakdown, paying in books, domestic and international payments, standing orders and direct debits. Customers can also pay training fees, veterinary bills and racing registration fees directly from their accounts and arrange for the fast payment of racing prize funds.
Weatherbys Mortgages and Loans
Weatherbys offers short to medium term loans secured against property, with more of an emphasis on personal circumstances than credit scoring. The bank says that customers can expect personal attention from private banking adviser and wealth management experts, fast decision making with easy access to decision makers and stress-free cash transfers. They will also liaise with third parties such as lawyers and surveyors on behalf of clients.
The bank provides a flexible range of deposit accounts as well as third-party solutions. They state that the loan to loan ratio never exceeds 65% and that all capital ratios exceed normal regulatory levels. All deposits of £85,000 or more are protected by the Financial Services Compensation Scheme/Deposit Protection Service.
The bank offers customers the opportunity to easily move money all over the world. Key features of this service include same day transfers in most cases, fixed rate forward exchange services, offshore accounts and international currency exchanges.
Developed specifically for UK domiciled individuals who are now living abroad, Weatherbys expatriate services include bank accounts and mortgages in foreign currency, bespoke underwriting and loans of between £500,000 and £5,000,000. There is a loan to loan value ratio of up to 65% and an interest-only option for up to five years.
Other services delivered by Weatherbys Bank include investment and wealth advice. Asset finance and mobile banking. The company also has an insurance arm; Weatherbys Hamilton, which specialises in insurance products including residential property, farms and land, motor insurance and protection for classic cars and other high-value collectables.