Ikano Bank UK Reviews 1,171

I used Ikano for a loan to pay for a sofa, set up via dfs and they have been great throughout. I never had any issues or concerns. I never missed a payment. Received a monthly update via e mail, would definitely use them again.

Requested a settlement figure and it was higher than the remaining balance on my loan. How does that work?

Update 4/9/24 - Ikano left me a voicemail asking me to call their customer service team. I did (took a while to get through) basically they didn’t really tell me anything. The settlement figure for my loan is £100 higher than the remaining balance. That just seems wrong to me, all Ikano are doing are encouraging people to remain in debt for longer rather than assisting people to pay their debts off early. Should be against the law as it’s exploiting people who perhaps are facing financial hardship. This practice should be illegal.

Update 10/9/24 - Customer service contacted me about my complaint saying it has not been upheld. Response was blunt but to the point…if not a touch snotty! Just beware any finance with these guys will incur 58 days interest charges if you wish to settle your account early. For me that’s unethical and not the type of company I would want to trust in the future, especially with them being a finance company.

Only good point was that they did contact me to discuss the complaint and they did officially answer the complaint in writing.

Not able to get intouch , no one responded to email, said they can not find account detail , completed complaint form did not allow me to submit it, no way of contacting them , no telephone not on website!

Went into arrears due to reduction in my income, called IKANO Customer Service to set up a new payment plan. The chap was nice enough but IKANO BANKS policy is to terminate and default the debt with Credit Reference companies anyway, and cannot guarantee that the debt will not be sold on to a 3rd party, EVEN THOUGH I CONTACTED THEM TO SET UP A PAYMENT PLAN BETWEEN US!!!

ABSOLUTLY RIDICULOUS WAS TO TREAT A CUSTOMER.

TBH Im only dealing with them as they have a contract with IKEA, otherwise I would avoid at all costs.

I am so disappointed in the service I have received and feel the need to express my extreme dissatisfaction with the handling of a recent payment issue and the overall poor customer service I have received. A payment accidentally returned from my bank account. I rectified this error on [25/07/24] by making another payment.
Despite multiple attempts to resolve this matter, I have encountered significant difficulties. I have contacted your customer service department on several occasions, both by phone and email, but have received no satisfactory resolution.
I have provided clear evidence of the payment, including a screenshot of the transaction, but Ikano Bank continues to claim that the payment has not been received. This is causing me considerable stress and inconvenience.
It has now been two weeks since the initial payment was made, and the funds have left my account , I feel my only actions will be to escalate this complaint to the Financial Ombudsman Service.

Total waste of time put a complaint in back in April to claim on section 75 of the 1974 credit consumer act. Sent in the estimate to sort out the problem not heard since, ringing weekly to be told complaints will call back within 5 working days, 7 weeks later nothing. Managers won’t take calls so have had to involve the FCA and the ombudsman now waiting the outcome of that. They are a disgrace, not keeping customers in the loop as per FCA rules and not sorting out within 8 weeks of the initial complaint. Do yourselves a favour don’t get involved with them.

Thanks for your response but I don’t believe anyone will contact us but we will see

Awful Service.

Can't get through to a customer service rep.
Just going round in circles for a Payment line.

impossible to speak with a representative. Multiple on line options but no human contact. After phione menu several options where it asks if you want to speak to a representative, you get cut off. Not one off. tried several times over few days. Absolutely infuriating.
They obviously don't want the inconvenience of speaking to their customers. Advice. DONT WASTE YOUR TIME TRYING!!!!!!!!!!

Good concept, easy to get credit etc. But website is really slow, took a few days just to view a message and loan overview as the pages don’t load, please fix this and I will happily use the services more often.

VERY GOOD SERVICE 👍

Havent really had any issues, just a shame there is no way to pick up the phone and call them if you need

EDIT: Upon the response from Ikano below, I was able to call and get through to someone in under 1 min. Really appreciate this, as when i started to use Ikano it was impossible to get through to someone,

Everything is easy to use and someone on the other end of phone ☎️

Nice easy going, no hassle just an email every month with ur up to date balance.. Perfect..... ⭐⭐⭐⭐⭐

I am not happy with IKANO. I missed my first payment (by accident!) and as charged a late fee which is fine as I got my payment dates wrong. This month I then made sure payments were made on time and I'm still being charged a late fee? I received another letter about a late fee this morning. This repayment scheme was meant to make my life EASIER not harder. Emails have been sent and calls have been made but can't get through to anyone.

We received statements which is a great easy way to see your balance with no hassle.thank you.

Absolutely disgusting company and incompetent useless staff , they are incompetent and no one helps you or calls you back, I have a faulty boiler and i purchased it through a loan from IKANO, the original company has gone bust and my boiler is banging and screeching they wont help me and just keep asking for more info, I had emergency gas guy come out and he said it needs urgent parts. Its GAS and they still are useless, the warranty falls with them but they take no responsibility, I just hope my boiler doesn't blow up and no one gets hurt or my home is destroyed as they should be liable for fixing it and providing me with help, safety and customer service...........DO NOT EVER USE THIS COMPANY

One of the worst companies I’ve ever dealt with in 20 years of running my business. Always someone else’s fault, they think nothing to bombard a customer with threats, emails and calls. My experiences with this company are based on their inability to do their jobs in-correctly and then take absolutely no responsibility for their own failures and mistakes. They simply will make out that you’re at fault and try to charge you more in late payments fines. It costs me a lot of money in down time every time I’m forced to call them to sort out their bad business practices. Knowing what I know now, avoid like the plague.

Incompetent & terrible customer service.
In 2022, after trying to pay off my balance for my DFS sofa, no payment was taken & I then had a default notice put on my credit report. I made a formal complaint & also appealed it with Equifax, there was no response from Ikano bank & the default was removed. 2 YEARS later, Ikano responded & put the notice back on.
Why do we as consumers need to provide evidence but the this incompetent organisation doesn’t?
I have seen other similar reviews too.
My advice is DO NOT have anything to do with them.

Rude and VERY unhelpful staff !!
Customer 'service' is non existent and they don't want to help you when you need it !
There's far better loan companies out there with better rates and better service, my advice is to stay well clear of Ikan(o-be bothered) Bank !