When people search for Hoares Bank, they are usually referring to C. Hoare & Co., one of the UK’s most established private banks. Unlike a typical high-street bank, C. Hoare & Co. focuses on personal relationships, private banking and tailored financial services for individuals, families and businesses.
Founded in 1672, the bank has remained continuously owned by the Hoare family for 12 generations. Today, it combines its long history with modern online and mobile banking, specialist borrowing, deposit accounts, foreign exchange and other financial services.
But what exactly does Hoares Bank offer, who can use its services and how does it compare with a conventional UK bank?
This guide explains everything you need to know.
What Is Hoares Bank?
Hoares Bank, officially known as C. Hoare & Co., is a privately owned UK bank specialising in relationship-led private banking.
The bank describes itself as the UK’s oldest privately owned bank. It was established in 1672 by Richard Hoare, who began as a goldsmith and operated from the Sign of the Golden Bottle. The business moved to Fleet Street in 1690, which remains an important part of the bank’s heritage.
Rather than trying to serve every customer in the same way, C. Hoare & Co. emphasises a more personalised approach. Customers are assigned a private banker who can understand their circumstances and coordinate banking services around their requirements.
The bank serves both personal and business customers, with specialist support available for groups such as entrepreneurs, family offices, farms and estates, City professionals, and customers involved in arts, culture and entertainment.
Why Is C. Hoare & Co. Different?
One of the biggest differences is its approach to customer service.
A conventional bank may encourage customers to manage most services through an app or call centre. C. Hoare & Co. combines digital banking with a dedicated private banker and relationship-based support.
Its website explains that private bankers work to understand customers’ individual needs and financial goals. They can also coordinate with specialist teams covering borrowing, foreign exchange, philanthropy and other services.
This approach can be particularly useful for people with more complicated financial affairs who prefer to have a direct relationship with their bank.
Hoares Bank Current Accounts
The current account is at the centre of C. Hoare & Co.’s private banking service.
Customers can manage everyday banking while receiving support from a dedicated private banker. The bank offers current accounts in several major currencies and provides different debit and credit card options.
Digital banking is also available, meaning customers do not need to rely exclusively on their private banker for routine transactions.
Depending on the service, customers can:
- View balances and transactions
- Transfer money between accounts
- Make UK payments
- Make international payments
- Manage regular payments
- Access account information digitally
- Give delegated users certain levels of account access
The bank also participates in the Current Account Switch Service, subject to eligibility.
A More Personal Banking Experience
The major selling point is not simply the current account itself. It is the combination of everyday banking and personal service.
A dedicated private banker can oversee current and deposit accounts and coordinate with specialist teams when customers require additional services.
For customers who value personal contact, this can be an important difference from app-first banking providers.
Hoares Bank Savings and Deposit Accounts
C. Hoare & Co. offers several types of deposit accounts designed around different access requirements.
According to the bank’s current information, personal customers can access:
- Instant-access accounts
- 35-day notice accounts
- 95-day notice accounts
- Fixed-term deposit accounts
- Children’s savings accounts
Fixed-term deposits can be available for periods ranging from one month to 24 months, with sterling and, on request, certain major foreign currencies available.
This range gives customers different ways to balance access to their money against the potential benefits of committing funds for a particular period.
Which Savings Account Could Be Suitable?
There is no single best account for everyone.
If you need frequent access to your money, an instant-access option may be more convenient.
If you are comfortable waiting before withdrawing funds, a notice account could be worth considering.
For customers who can leave money untouched for a defined period, a fixed-term deposit may offer a different combination of rate and access.
Always check the latest interest rates, terms and conditions before opening an account because rates can change.
Hoares Bank Business Banking
C. Hoare & Co. also provides banking services for businesses.
Its business banking service is designed around close relationships, with private bankers taking time to understand how a company operates and what it is trying to achieve. The bank works with a variety of businesses, including established companies and newer ventures.
Business customers can access services including:
- Business current accounts
- Deposit accounts
- Business borrowing
- Foreign exchange
- Treasury services
- Business cards
- Payment facilities
Business current accounts are available in several major currencies, while business credit cards provide online account management and flexible credit limits for staff.
One interesting feature is that the bank can provide an integrated online view of personal and business accounts for customers who have both relationships with the bank.
Borrowing and Lending
Banking with C. Hoare & Co. is not limited to deposits and current accounts.
The bank also provides bespoke borrowing facilities for eligible personal and business customers.
Its lending services can support customers such as individuals, professional-firm partners, trustees and executors. Rather than taking a one-size-fits-all approach, the bank says it works with customers and their advisers to structure flexible lending facilities around individual circumstances.
This can make private banking particularly relevant to customers whose financial arrangements require more detailed consideration.
However, borrowing is subject to the bank’s assessment, terms and eligibility criteria. Customers should never assume that a particular facility will be available without discussing their circumstances with the bank.
Foreign Exchange and Treasury Services
For customers with international financial requirements, Hoares Bank also offers Treasury and Foreign Exchange services.
Its specialist Treasury team can facilitate currency transactions, including spot and forward trades on an execution-only basis.
This may be relevant to:
- International businesses
- Customers receiving money in foreign currencies
- People making overseas payments
- Customers with assets or commitments in different currencies
- Businesses involved in international trade
Foreign exchange costs and rates can vary, so customers should review the applicable terms before making a transaction.
Hoares Bank Mobile and Online Banking
Despite its traditional heritage, C. Hoare & Co. has invested in modern digital banking.
Its mobile app allows personal and business customers to manage accounts while away from a branch. Features include regular payments, bulk payments, future-dated payments and transfers between accounts. Customers can also manage certain spending limits and approval structures, download transaction information and connect to other services through Open Banking.
This combination of private banking + digital access is an important part of the bank’s modern proposition.
Customers can still communicate directly with bank staff when they prefer a more personal approach.
Is Hoares Bank Safe?
Safety is naturally one of the most important considerations when choosing a bank.
C. Hoare & Co. says its business operates with a conservative approach to risk. The bank is owned entirely by the Hoare family on an unlimited liability basis and says it maintains strict risk controls.
The bank also states that it favours high-quality, low-risk Treasury assets and maintains a conservative approach to lending.
Eligible customer deposits are protected under the Financial Services Compensation Scheme (FSCS), subject to the applicable rules and limits. The bank currently states that eligible balances are protected up to £120,000.
Because protection rules can change, customers should check the latest FSCS information and the bank’s current documentation before making decisions about large deposits.
Hoares Bank Fees and Charges
Fees are another important factor to consider.
C. Hoare & Co. publishes its Tariffs and Cut-Off Times information, which sets out charges and payment processing details. The bank’s current tariff information is subject to change, with the latest versions published on its website.
Depending on the service, customers may need to consider costs associated with:
- Payments
- International transfers
- Foreign exchange
- Cards
- Borrowing
- Other banking services
Rather than relying on an old comparison or third-party article, it is better to check the latest tariff directly before opening an account or making a large transaction.
Who Does Hoares Bank Serve?
C. Hoare & Co. focuses on a range of personal and business customers.
Its specialist areas include:
Entrepreneurs
Business owners may benefit from having personal and business banking needs managed within a relationship-based banking structure.
Family Offices and Family Businesses
Customers with more complex family or business arrangements may value the bank’s tailored approach.
Farms and Estates
The bank specifically supports customers connected with farms and estates, where financial requirements can extend beyond a standard current account.
City Professionals
Professionals with complex financial affairs can access private banking and specialist services.
Arts, Culture and Entertainment
The bank also works with customers in creative and cultural sectors.
Main Benefits of Hoares Bank
There are several potential advantages to consider.
1. Centuries of Banking Experience
C. Hoare & Co. was founded in 1672 and has remained under Hoare family ownership for 12 generations.
2. Dedicated Private Banker
Customers receive a relationship-led service rather than relying entirely on automated support.
3. Specialist Financial Services
Current accounts are only one part of the offering. Customers can also access deposits, borrowing, foreign exchange and philanthropy services.
4. Modern Digital Banking
The bank combines personal service with online and mobile banking facilities.
5. Personal and Business Banking
Eligible customers can access both personal and business services, potentially allowing their financial affairs to be managed through one banking relationship.
Potential Drawbacks to Consider
Although private banking can provide significant benefits, it may not be the right fit for everyone.
Less focused on mass-market banking: C. Hoare & Co. is a specialist private bank rather than a typical everyday banking provider.
Personal service may come with higher costs: Customers should carefully review the latest tariff and account terms.
Eligibility matters: Not every product is necessarily available to every customer.
Some services are relationship-led: Customers who prefer completely self-service banking may prefer a digital-first provider.
For these reasons, it is sensible to compare your specific requirements before making a decision.
Is Hoares Bank Worth Considering?
Hoares Bank can be worth considering if you value personal service, specialist banking and a long-term relationship with your bank.
Its combination of private bankers, current and deposit accounts, borrowing, foreign exchange and business services makes it different from many mainstream banking providers.
Its biggest strength is arguably the balance between traditional relationship banking and modern digital facilities. Customers can communicate with a dedicated banker while still using online and mobile banking for everyday transactions.
However, suitability depends on your circumstances. If your priority is simply finding the cheapest everyday current account or the most advanced banking app, other providers may be worth comparing.
Frequently Asked Questions
Is Hoares Bank the same as C. Hoare & Co.?
Yes. C. Hoare & Co. is the bank’s official name, while “Hoares Bank” is commonly used when referring to it.
How old is Hoares Bank?
C. Hoare & Co. was founded in 1672, making it one of the UK’s longest-established banking institutions and the UK’s oldest privately owned bank.
Is C. Hoare & Co. privately owned?
Yes. The bank states that it has remained continuously owned by the Hoare family for 12 generations.
Does Hoares Bank offer savings accounts?
Yes. C. Hoare & Co. offers instant-access, notice and fixed-term deposit accounts, as well as children’s savings accounts.
Does Hoares Bank have a mobile app?
Yes. Its mobile app supports a range of personal and business banking functions, including payments and transfers.
Does Hoares Bank offer business accounts?
Yes. C. Hoare & Co. offers business current accounts, deposit accounts, borrowing, foreign exchange and other services for eligible businesses.
Are Hoares Bank deposits protected by FSCS?
Eligible deposits are protected by the FSCS, subject to the scheme’s rules and applicable limits. C. Hoare & Co. currently states protection of up to £120,000 for eligible balances.
Final Verdict
C. Hoare & Co., commonly known as Hoares Bank, offers a very different banking experience from a typical high-street or app-based bank.
Its defining features are its long history, family ownership, dedicated private bankers and specialist financial services. Customers can access current accounts, savings and deposits, business banking, borrowing, foreign exchange and other tailored services.
At the same time, the bank has embraced modern banking technology through its online and mobile services.
If you are looking for a personalised private banking relationship rather than a basic everyday account, Hoares Bank may be an interesting option to investigate. Before applying, compare the latest account terms, interest rates, fees, eligibility requirements and FSCS protection with other UK banking options.
Information and rates can change. Always check C. Hoare & Co.’s latest official documentation before making a financial decision.
