Al Rayan Bank PLC vs Santander UK plc
Al Rayan Bank has a blended long-term credit rating of A and Santander UK A+, so Santander UK is rated 1 notch higher. Al Rayan Bank and Santander UK hold separate banking licences, so eligible savings with each are protected by the FSCS up to £120,000 per person separately. In the CMA's August 2026 service quality survey, 55% of Santander UK's personal customers would recommend it for overall service; Al Rayan Bank is not one of the brands surveyed.
Al Rayan Bank PLC
Moody's
Santander UK plc
S&P, Moody's, Fitch
Rating History Comparison
Comparison Summary
| Metric | Al Rayan Bank PLC | Santander UK plc | Difference |
|---|---|---|---|
| Credit Rating | A | A+ | Santander UK 1 notch higher |
| Normalized Score | 75 | 80 | -5 points |
| Agencies | Moody's | S&P, Moody's, Fitch | Different |
| Outlook | Stable | Stable | Same |
| Trend | NEW |
Different | |
| Investment Grade | Yes | Yes | Same |
Service record and deposit protection
| Measure | Al Rayan Bank | Santander UK |
|---|---|---|
| Would recommend for overall service (CMA survey, Aug 2026, personal, GB) | not surveyed | 55% (rank 13= of 17) |
| Would recommend for online and mobile banking | not surveyed | 68% (rank 13 of 17) |
| Banking complaints per 1,000 accounts (FCA) | not published | 2.36 (2026 H1) |
| Complaints upheld by the bank | not published | 47% |
| Major operational or security incidents reported to the FCA, last 12 months | not collected | 33 (to Jun 2026) |
| Banking licence (FCA reference) | 229148 | 106054 |
Al Rayan Bank and Santander UK hold separate banking licences, so eligible savings with each are protected by the FSCS up to £120,000 per person separately.
Survey: CMA / Ipsos, share of each brand's own customers who would recommend it (full rankings). Complaints: FCA firm-level data for the licence holder (all banks). Incidents: figures each bank must publish under the FCA's BCOBS 7 rules (all banks). A service score is about experience, not financial strength.Frequently asked questions
Is Al Rayan Bank or Santander UK financially stronger?
Al Rayan Bank has a blended long-term credit rating of A and Santander UK A+, so Santander UK is rated 1 notch higher. A credit rating is an agency's opinion of a bank's ability to repay its debts, not a guarantee, and it says nothing about service.
Do Al Rayan Bank and Santander UK share FSCS protection?
Al Rayan Bank and Santander UK hold separate banking licences, so eligible savings with each are protected by the FSCS up to £120,000 per person separately.
Which has better customer service, Al Rayan Bank or Santander UK?
In the CMA's August 2026 service quality survey, 55% of Santander UK's personal customers would recommend it for overall service; Al Rayan Bank is not one of the brands surveyed. A service score reflects customers' experience, not the bank's financial strength.
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