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US citizens in the UK · Institutions

Which Al Rayan Bank accounts accept US citizens

Last checked

Al Rayan Bank has been checked for US citizens across 3 account types. 2 are open to a US person and 1 is not on offer, whatever your nationality.

If you already have an account with Al Rayan Bank, a second one there is usually the easier application, because Al Rayan Bank has already checked who you are. Each account below carries its verdict, the evidence behind it and the date it was checked.

At a glance

Account Verdict Last checked
Current accounts Opens
Savings accounts Opens
Mortgages Not offered

Current accounts

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Opens

Al Rayan sets no nationality condition and treats US citizens as a routine reporting matter, so the only real gate is the minimum balance. It is Sharia compliant, so it pays expected profit rather than interest, and this account pays neither.

FSCS £120,000 · app and desktop, counters at Premier offices and Lloyds branches

Account Terms The catch
Current Account
Monthly fee
Free if you hold a UK passport or your main home is in the UK, otherwise £20 a month
Interest
None; Sharia compliant, so it pays expected profit rather than interest, and this account pays neither
Abroad
No fee on card payments in a foreign currency; £1.50 on each foreign cash withdrawal
 You must keep at least £2,500 in the account for it to stay open, and there is no overdraft.

Source: Al Rayan personal current account, 2026-08-17 Last checked Al Rayan Bank's own page

Savings accounts

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Opens

Al Rayan sets no nationality condition on savings, so US citizenship is a reporting matter rather than a bar. It is Sharia compliant, so every figure here is an expected profit rate rather than guaranteed interest; the rate is a target the bank expects to pay, not a promise. The US still taxes what you receive as ordinary income.

FSCS £120,000 · app and desktop · sole applicants only

Account Terms The catch
12 Month Fixed Term Deposit
Access
Fixed term
Rate
4.77% EPR, fixed
Term
1 year
Min
£10,000
Max
£1,000,000
Rate as of
 An expected profit rate, not guaranteed interest. Gross per annum on a £10,000 minimum; reinvested and paid at maturity it is quoted at 4.85%.
Educate A Child International 36 Month Fixed Term Deposit
Access
Fixed term
Rate
4.48% EPR, fixed
Term
3 years
Min
£10,000
Max
£1,000,000
Rate as of
 An expected profit rate, not guaranteed interest, and no withdrawals before maturity. Gross per annum on a £10,000 minimum; reinvested and paid at maturity it is quoted at 4.55%.
Everyday Saver
Access
Easy access
Rate
2.75% EPR, variable
Min
£10,000
Max
£1,000,000
Rate as of
 An expected profit rate, not guaranteed interest, and the balance must stay at £10,000 or above or it drops to 0.05%.

Source: Al Rayan Bank savings, 2026-08-17 Last checked Al Rayan Bank's own page

Mortgages

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Not offered

Al Rayan has stopped selling home purchase plans to ordinary UK residents, and its home finance pages now serve existing customers. The one product still open to new business is premier home finance, for applicants from Qatar, Saudi Arabia, Kuwait, Bahrain or Oman, so someone living here is outside it whatever their passport.

Closed to ordinary UK residents · premier product limited to six Gulf states

Source: Al Rayan premier home finance page, 2026-08-17 Last checked Al Rayan Bank's own page

Account names link to the provider's own site. momo has no active affiliate partnerships; if that changes it will be disclosed and will never change a verdict. Every institution, A to Z.

Confirm your own position with a cross-border specialist. Acceptance policies and tax rules change, and your facts may differ from the general case. Rates and terms here are the provider's published figures rather than an offer, and the provider decides each application on its own criteria. Use this as a map, not a ruling. Last checked .
Tax

FATCA

FATCA makes UK banks report accounts held by US persons to the IRS. It is not a tax; it is a reporting trail. Where it bites is access.

 Tax

FBAR

If your foreign accounts top $10,000 combined at any point in the year, you file an FBAR. What counts, when it is due, and what happens if you miss it.