Triodos Bank (green personal and business accounts)
Triodos Bank is Europe’s main ethical bank, and is headquartered in The Netherlands. However, it has a main branch in England (in Bristol, where calls are answered by real people – yeh!)
Join the already over 740,000 customers who have switched to this bank (including wildlife presenter Chris Packham, who uses his profile to encourage people to bank at a company that uses your money for good. This bank publishes every organisation it finances for transparency.
Just like any other regulated bank, your money is protected for money up to £85,000 or £170,000 (joint accounts) and you can switch in 10 minutes using the Current Account Switch Service. Just open your Triodos Bank account and request the switch in the app (or by phone/online) and the service will securely move your salary, regular payments and direct debits in seven days.
If you’re in debt, you can usually still switch your bank account, while paying off debt at the old bank. So don’t let that stop you switching.
Switching to a greener bank account takes just minutes using a switching saver, and creates huge changes a ripple effect. These banks are regulated by the Financial Conduct Authority (FCA) and covered by the Financial Services Compensation Scheme. You get all the protection you’d expect from a high street bank, with the bonus of strong green ethics.
The bank offers a range of accounts:
Ethical Current Account
This is the main bank account which includes a debit card made from recycled plastic. There is a £3 monthly fee, but this is to cover costs, so you don’t get charged for other things, like if banks send you a letter. You can bank by phone or online, and pay in cheques by post.
Your money is used to fund:
- Renewable energy
- Nature restoration
- Social housing
- Small charities
Triodos Bank never funds:
- Fossil fuels
- Fast fashion
- Weapons and ammunition
- Deforestation
You can also use ‘tap to pay’ Google Pay and Apple Pay accounts, download bank statements on the app, and find 24/7 phone support for lost cards or fraud. A cheque book is available on request.
Triodos Bank does not offer:
- Overdrafts
- Interest on current accounts (instead choose savings accounts below)
- Cash deposits in post offices
- Immediate Faster Payments (it does offer CHAPS and international payments for a £20 or £25 fee respectively).
Savings Accounts
- Everyday Savings (save from £1)
- Ethical Savings Bonds (save from £500)
- Online Cash ISA (tax-free from £10)
- Fixed Rate Cash ISA (tax-free from £1)
- Fixed Term Deposit Account (minimum £50,000)
- Business and Charity Deposit Account (minimum £50,000)
Investment Funds
Triodos Bank also offers investment funds, which are hand-picked to ensure they have a positive impact on society and the planet. These are designed to be invested in for at least five years.
All investments go up and down in value over time, so are always a risk, which is why they should be held for the long-term. Investment funds are not covered by the Financial Services Compensation Scheme.
