A new bank has launched in the UK, promising competitive rates and a return to what it calls “human-first” banking. The new provider, thisbank, says it wants to offer consistently strong deals rather than short-term headline rates that quickly disappear. The bank opens with an easy access savings account paying 3.76% gross / 3.82% AER variable. 

It is also offering a range of fixed-term products at 3.99% gross/AER fixed across one, two and five years. While these rates do not top the current best-buy tables, they are high enough to challenge many established rivals. Chief executive Chris Waring said the bank has been built around giving savers more choice and better support.

He added: “We’ve built thisbank around people. While we are technology-forward, our approach will always be customer-first. Our goal is to deliver sustainable value and a service that feels human, not transactional.”

He continued: “Our strategy is clear: deliver customer-focused savings rates, invest in specialist assets where others can’t compete, and never lose sight of the fact that banking is about people, not just numbers. 

“We don’t just want to follow the market, we want to deliver what our customers need. Our promise is simple – competitive, sustainable savings for customers.”

According to initial reports, the bank will not operate physical branches, but customers will be able to speak to trained staff based in London. 

Mr Waring said: “Our people-first approach means replicating the human-to-human connection you used to receive in your local banking branch, adapted to today’s times.

Chief transformation officer Declan Halton-Woodward said the bank is focused on understanding the needs of people who often struggle with rigid processes at traditional banks.

He told The Independent: “We understand humans are complex – from the self-employed to the retired – not everybody fits in the ‘mould’ required by the high-street banks – that’s where this can help.

“Online, email, or phone, our customers will get a service that works for them – not an AI chatbot – our people treat your money better than our own, because it’s just that, yours – and it needs to work for you.”

• Instant access: Yes
• Rate: 3.76% gross / 3.82% AER variable
• Best for: casual savers, short-term goals such as holidays or home improvements.

Fixed-Term Savings Accounts

• 1-Year Fixed Term Deposit – 3.99% gross/AER fixed
• 2-Year Fixed Term Deposit – 3.99% gross/AER fixed
• 5-Year Fixed Term Deposit – 3.99% gross/AER fixed

These accounts are marketed for savers wanting dependable returns, from building a nest egg to setting aside money for major purchases.

The bank says it intends to stay consistently competitive rather than offering a top rate briefly and then cutting it – a common issue for savers who often need to move their money once introductory deals end.

Experts say the arrival of a new bank is positive news for the savings market.

Adam French, head of consumer finance at Moneyfactscompare.co.uk, told the Express: “Competition really matters in the savings market, and the launch of a new bank offering inflation-busting savings rates is welcome news, especially with many competitors’ accounts failing to keep pace with rising prices. 

“The Moneyfacts Average Savings Rate has been below the level of inflation for the last nine months, meaning many savers have had a tough time securing positive real returns on their cash.

“While savers should always shop around for the best deals and check the terms and protections attached to any new account, new providers like thisbank can keep established banks on their toes and play a vital role in pushing better rates across the board, so they are very worthwhile keeping a close eye on. 

“Combined with a healthier and more neutral base rate, it should all add up to mean it is less and less likely we go back to what was more than a decade of rock-bottom rates that savers had to endure before the latest rate-rising cycle began.”

Although thisbank is launching as a brand-new name, it is part of a wider group with roots stretching back 150 years to the Westmoreland Building Society.

The group later became part of JN Group before being reshaped into a new UK-focused bank in 2025.

The company says it wants to “lead the market” with products that are simple to understand and work well for modern savers.