Frequently Asked Questions

Islamic finance & banking can be confusing, at Rizq we believe in transparency and want all our customers to understand how we work. Check out the FAQs below and if you can't find what you are looking for then get in touch.

1. Where is my money held?

Your money is held in a teir 1 bank in the UK, within a ring-fenced structure meaning the funds can’t be invested or used.

2. Do you have any physical branches?

No, we are a fully digital banking institution our onboarding happens through digital channels and our customer service is fully digital and very fast.

3. Do you have an ISA?

No, currently our focus is around giving a core banking product with a lifestyle element. We have a standard account with account number and sort-code which works just like your conventional bank account.

4. Do you offer a mortgage?

No, currently our focus is around giving a core banking product with a lifestyle element. We have a standard account with account number and sort-code which works just like your conventional bank account.

5. Can I have my salary paid into my Rizq account?

Yes 100%, you can have your salary paid into your Rizq account and then spend using your physical or virtual card.

6. Are you FCA regulated?

Currently we are not FCA regulated.

Rizq Financial Technologies Ltd. is registered as an EMD Agent of Payrnet Limited, with the FCA (reference 900594). Payrnet Limited is authorised by the Financial Conduct Authority as an Electronic Money Institution.

This partnership enables Rizq to trade and provides protection to all our customers.

7. Is my money protected?

Yes, through our core banking infrastructure your monies are protected with a teir 1 bank (Barclays, Natwest, RBS, etc) which are ring-fenced legally meaning they can’t be invested or touched once deposited into your Rizq account.

8. What happens if my card is lost or stolen?

Using the Rizq banking application you can freeze your card instantly to prevent fraud, you can then order a new card. If you suspect fraud on your account you can contact support who will help you solve the issue swiftly.

9. Do you have a joint account?

Yes we have a shared account functionality where you can setup cards for your freinds & family and track all spending.

10. Does Rizq standard account cost?

Your Rizq standard account is free, we charge a one-off fee of £4.99 to issue your physical card, this helps covers the cost of producing and delivering the card to you.