What you may not know about RCI Bank
When we look back over the last five years, a lot has changed - not just within RCI Bank but also in the wider savings market. In alignment with this changing environment, RCI Bank has continuously evolved, most recently in light of COVID-19, and we’re proud of how far we’ve come. RCI Bank’s vision has always been to offer UK savers straightforward and competitive savings products without gimmicks or restraints. Read on to discover our journey to becoming an award-winning savings bank that’s passionate about providing the best service possible to our customers.

From cars to finance. RCI Bank and Services was born

RCI Bank and Services was born when car company Renault created its own internal bank in 1974 in order to help their customers finance their own vehicles. RCI Bank and Services now operates in over 36 countries across four continents and works exclusively with some of the world’s largest brands such as Nissan, Dacia, and Mitsubishi.

RCI Bank and Services is the financial services provider for the Groupe Renault and Nissan Group brands. RCI Bank is the savings provider whilst its sister company, RCI Financial Services, provides other products such as car financing.

RCI Bank was launched in the UK

A long-established legacy in the Renault Group and a tried and tested model with banks in France, Germany and Austria, meant the next natural step of the journey was a UK launch. In 2015, we were ready to bring simple and flexible banking to UK savers.

We moved to a new home

After two years and plenty of growth, RCI Bank moved to a new office in Rickmansworth in October 2017. We wanted our new office to reflect our international identity. Each room is designed in the style of a city where our sister company, RCI Financial Services, has subsidiaries based. We’re still here today and still love the novelty of going to ‘Rome’ or ‘Chennai’ for a Monday morning meeting.

RCI Bank obtained a UK banking licence in 2019

After almost four years in the UK savings market, we obtained a full UK banking licence in 2019. We’ve always been a fully regulated bank in France, operating as a subsidiary of our French based parent company, RCI Bank and Services, but we had the opportunity to strengthen our roots in the UK and secure a banking licence here. It represented our commitment to offering our UK customers competitive rates and great customer service for many years to come.

RCI Bank was growing so it was time for a refresh…

Having grown to more than 75,000 customers by 2019 and with a newly acquired UK banking licence, we made some changes to the appearance of the RCI Bank brand with a new logo and improved the online user experience with a brand-new website design to make saving as simple and transparent as possible for customers. Committed to always giving customers the greatest opportunity to save, we also launched our Four and Five Year Fixed Term Savings Accounts. Also, in the same year, RCI Bank was named a Which? Recommended Provider for Savings Accounts in 2019 which was a great achievement!

Where are we now?

It has been an incredible journey over the last five years. Today, we offer an Easy Access Account, One, Two, Three, Four, Five Year Fixed Term Accounts and a 95 Day Notice Account.

We’re constantly looking for ways to improve our customer experience so do keep sharing your feedback with us on Facebook and Twitter. Otherwise, for any initial questions we’ve recently updated our FAQs to make life easier for you! As we look forward to the rest of 2020, more exciting initiatives are to come. Watch this space...

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