Weatherbys Racing Bank

Weatherbys Racing Bank is the racing side of Weatherbys Bank, a UK bank used by racehorse owners, trainers, studs, bloodstock professionals and companies connected to the sport. It offers current accounts built around racing, a charge card, savings accounts, and lending that includes mortgages, bridging finance and Lombard loans secured against an investment portfolio. The Racing Bank Help Desk is on +44 (0) 1933 543 543¹.

Weatherbys Racing Bank is the name the bank uses for its racing and bloodstock customers, and it sits alongside Weatherbys Private Bank, Weatherbys Private Banking, Weatherbys Business Bank, Ironstone and Arkle Bank as names under which the same bank operates². That matters for two practical reasons: money held across those names counts towards one compensation limit, and complaints about any of them go through the same process.

Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person, with up to £240,000 protected for joint accounts³. Lending is secured, which means the bank can take the asset behind the loan if repayments are not kept up.

What Weatherbys Racing Bank offers

The racing accounts are the core of the offer. The Racing Gold Account includes a dedicated relationship manager, a Weatherbys debit card with an optional overdraft facility subject to credit criteria, access to online and mobile banking, and the Weatherbys Racing Payment Service, which automatically transfers race entry payments and race winnings⁶. The Classic Racing Account is the other current account on the racing side⁷.

The Weatherbys Racing Account works alongside these, with all race entry payments and race winnings transferred automatically through it, and access to online and mobile banking⁷.

On the private banking side, which racing clients may also use, there is a private current account with direct access to a named private banker, and a Weatherbys Charge Card offering travel and lifestyle insurance, airport lounge access and digital and mobile payments⁸. The charge card is only available to existing Weatherbys Private Bank clients, and comes with a comprehensive suite of travel and lifestyle insurance cover when the card is used to pay for travel arrangements⁹. The insurance is arranged through the card rather than underwritten by the bank.

Savings sit under the private bank. The Private Reserve Account is an instant access account available exclusively to Weatherbys Private Bank clients, with interest paid quarterly³. All accounts and financial services are subject to eligibility criteria and terms and conditions⁸.

If you are comparing the basics of day-to-day banking, our guide to current accounts sets out how they work, and savings accounts covers how interest is calculated and paid.

Borrowing through Weatherbys: mortgages, bridging and secured loans

Weatherbys offers flexible loans and mortgages secured against residential property, and provides short-term bridging finance for clients who need fast access to capital before longer-term funding is in place⁴. Bridging is designed to cover a gap, not to run as a long-term mortgage, and the cost of it reflects that.

Lending is primarily secured against residential property, but the bank also considers investment portfolios, land and personal guarantees⁴. The bank's own warning on its lending pages is the one that applies to any secured borrowing: "Your home may be at risk if you don't keep up repayments on the mortgage or loan secured against it"⁴.

The process runs through five stages: an initial consultation with your named private banker, a holistic assessment, a decision in principle, valuation and legal work, then drawdown⁴. Decisions in principle come from an in-house lending committee⁴.

For borrowers whose income is largely bonus-based, the bank says it may be able to lend more even if salary makes up less than half your income, and repayments can be structured to coincide with bonus payments, taking larger amounts off the mortgage at certain times rather than equal instalments every month¹⁰. That suits people whose earnings arrive in lumps, but it also means the repayment schedule does not look like a standard mortgage.

Our mortgages guide covers how lenders assess affordability, and buying a home walks through the stages of a purchase.

Lombard lending against an investment portfolio

Lombard lending is a form of borrowing secured against an existing investment portfolio¹¹. The point of it is unlocking liquidity without selling investments, so the portfolio stays invested while you borrow against it⁴. Weatherbys can consider portfolios held elsewhere, subject to review and eligibility requirements¹¹.

The facility works in a similar way to an overdraft: you can draw funds when required, repay borrowing when convenient, and only pay interest on the amount used¹¹. It is a flexible revolving facility, with ongoing monitoring throughout the life of the facility¹¹.

Some investors use Lombard lending to increase investment capacity through gearing, and the bank states plainly that this approach carries additional risk and may not be suitable for everyone¹¹. Gearing means borrowing money to make additional investments, and the more an investment trust or portfolio borrows, the more risky it is¹².

How Weatherbys assesses lending decisions

Weatherbys uses human assessment, not algorithms, to understand wealth and affordability, and says every decision is made by a person⁴. Rather than relying on credit scoring alone, it looks at the whole picture of your finances, including bonuses and profit shares¹⁰. It considers applicants of all ages and assesses a variety of income streams, such as salary or investments, and pension income for older clients⁴.

This approach is not unique to private banks. Responsible finance providers describe their method as looking beyond a credit score or standard lending criteria to understand the person, business or organisation behind an application¹⁴. It has also become more common across the wider market for lenders to make an affordability assessment, looking at your whole financial situation, when calculating how much they will lend¹⁵.

The practical difference for a borrower is what you are asked to provide. A manual assessment based on a full financial picture usually means more documentation and a conversation about assets, bonus history and income sources, rather than a score deciding the outcome. Each finance provider has its own eligibility and assessment criteria and makes its own lending decisions¹⁴, so a decision from one lender says nothing about another.

Our guide to credit scores and credit reports explains what a credit score does and does not determine.

Who can apply and what security is accepted

The Racing Gold Account is available to sole or joint owners, bloodstock professionals, studs and companies, plus owners who reside outside the UK⁶. The Weatherbys Racing Account is available to UK resident sole or joint owners⁷. The charge card is only available to existing Weatherbys Private Bank clients⁹.

For borrowing, you must be 18 or over to apply, and Weatherbys states it has no upper age limit for applicants⁴. That is a contrast with many lenders, which do set maximum ages. Ulster Bank, for example, sets a maximum age for application of 65 years old and a maximum age for repayment of 70 years old¹⁶, though its own pages also refer to a maximum age of 70, so the two figures do not agree. Royal Bank mortgages are available for over 18s, with a minimum term of 3 years and a maximum term of 35 years and a maximum age of 70¹⁷.

Security accepted for lending is primarily residential property, with investment portfolios, land and personal guarantees also considered⁴. Where a personal guarantee is involved, the person giving it takes on serious risks: the cost of the debt can be high and the interest rates can be high¹⁸.

Margin calls and the risks of secured borrowing

A margin call occurs when the value of investments securing the borrowing falls below agreed levels, requiring additional funds or a reduction in borrowing¹¹. If a margin call is not met, the bank may need to sell investments to bring the position back within agreed limits¹¹. That is the risk that separates Lombard lending from an unsecured loan: a fall in the market can force a sale at the worst moment, and the decision is not yours.

Gearing carries the same risk in a different form. Investment trusts can borrow money to make additional investments, and as a rule, the more an investment trust borrows the more risky it is¹².

Secured borrowing more generally puts the asset at risk. Loans advertised on television or the internet usually involve very high interest rates, and borrowers can be asked to secure these loans against their home, putting the home at risk if payments cannot be kept up¹⁹. A charging order, which a creditor can seek when a debt is not paid, can put your property at risk and cause issues when selling²⁰.

If borrowing becomes unmanageable, free and impartial help is available. StepChange and other debt advice charities provide free guidance, and our debt guide sets out the options and your rights.

Banking with Weatherbys: relationship managers and switching

Racing Gold Account holders get a dedicated relationship manager⁶, and private current account clients get direct access to a named private banker⁸. That is the main structural difference between this bank and a high street one: the relationship is with a person rather than a call centre queue.

Day-to-day banking runs across online banking, a mobile banking app, a card app, Apple Pay and Google Pay²¹. Not every feature is in every channel. Transferring money between your own accounts, setting up a new payee, editing or deleting payees, sending a message, requesting international payments, making bulk payments, filtering and searching transactions, and viewing statements are all available in online banking and the bank app but not the card app²¹. Viewing pending and historic transactions works in all three²¹. Placing a temporary block on a debit card, making secure payments using your mobile device, activating your debit card, viewing your debit card PIN and blocking regions globally are available in the bank app only²¹. Touch ID and Face ID login is offered across online banking, the bank app and the card app²¹.

To set up mobile banking, download the app from the Apple App Store or Google Play store, then enter your usual online banking credentials¹. If you have just received your credentials, you need to log in to Weatherbys Online Banking first, as this activates your access to mobile banking¹. If you lose your mobile device or it is stolen, contact the bank and access to mobile banking will be revoked¹.

Weatherbys Private Bank is a full participant in the Account Switch Service²², and the private current account page tells clients to switch their banking using the Current Account Switch Service⁸. If you are switching, our guide to everyday money tasks covers the steps.

How to contact Weatherbys Racing Bank

The Racing Bank Help Desk is on +44 (0) 1933 543 543¹. The Private Bank Help Desk is on +44 (0) 1933 543 600¹.

For a lost or stolen debit card, you can block the card in the Weatherbys Card app while trying to locate it, or contact your private banking team, your relationship manager, the Private Bank Help Desk on +44 (0) 1933 543 600 or the Racing Bank Help Desk on +44 (0) 1933 543 543²³. If you have forgotten your PIN, you can view it in the Weatherbys Card app under 'Card PIN', or contact either help desk to arrange for one to be sent²³.

If you suspect someone may have access to your online or mobile banking, speak to your private banker or relationship manager immediately, or contact the Private Bank Help Desk on +44 (0) 1933 543 600 or the Racing Bank Help Desk on +44 (0) 1933 543 543¹.

Weatherbys warns that it may contact you about fraud through someone you already know at the bank, such as your private banking team, relationship manager or a usual contact²⁴. That is worth knowing, because it means a genuine call about fraud can come from a familiar name, and it also means a fraudster claiming to be from the bank is not automatically ruled out by knowing your details. Our scams and fraud guide covers how to check whether a contact is genuine.

How to complain to Weatherbys

Weatherbys Racing Bank clients should speak to their Relationship Manager in the first instance²⁵. Private Bank clients should speak to their private banking team first²⁵.

If that does not resolve it, you can make a complaint by telephone, by email or by letter: telephone +44 (0) 1933 543 577, email bank@weatherbys.bank, or write to Complaints, Weatherbys Bank, Sanders Road, Wellingborough, Northamptonshire, NN8 4BX⁵. The bank says that if you have a complaint relating to a Weatherbys Bank product or service, it will do its utmost to put things right as soon as it can²⁶. If it is unable to resolve the complaint within five days, it will write to explain why, who is dealing with it and when it will contact you again⁵.

If you are not satisfied with the response, or the complaint cannot be resolved within eight weeks, you can refer it to the Financial Ombudsman Service⁵. The ombudsman can help if you have complained to the financial business and are not happy with their answer²⁷. It can also look into complaints about the bank or payment service provider that received money in a scam payment, considering the steps taken to recover it and whether it should have had concerns about its customer's account²⁸. The service is free to consumers, and can also consider complaints from microenterprises and SMEs²⁹.

How deposits at Weatherbys are protected

Eligible deposits with Weatherbys are protected by the Financial Services Compensation Scheme³.

Because Weatherbys Racing Bank and Weatherbys Private Bank are names used by the same bank, money held across both counts towards the same limit rather than being protected separately². The same applies to the other names: Weatherbys Private Banking, Weatherbys Business Bank, Ironstone and Arkle Bank². If you hold deposits under more than one of those names, add them together when working out how much is covered.

The bank behind these names is authorised by the FCA under firm reference number 204571, with a status effective date of 01/12/2001². It appears on the Bank of England's list of banks incorporated in the UK authorised to accept deposits, dated 01 September 2026³⁰. The company is active on the Companies House register, company number 02943300, incorporated on 1994-06-28³¹. Its permissions include entering into regulated credit agreements as lender, entering into regulated mortgage contracts as lender, and accepting deposits².

Money in a Weatherbys Racing Bank account and a Weatherbys Private Bank account is added together for this purpose³.

If a client dies

Weatherbys publishes a downloadable bereavement guide for Weatherbys Racing Bank clients, separate from the guide for Private Bank clients³². The guides are for people dealing with the financial affairs of someone who has died³². The bereavement page names Jane Wyles as the contact³².

Most banks and financial firms have a specialist bereavement team³³. A bank may temporarily stop access to the account after someone dies, but it might still release money for funeral costs¹⁵. In Scotland, funeral costs can be met from the deceased person's estate in certain circumstances¹⁵.

If you are dealing with a bank after a bereavement, our guide to life events covers the practical steps, and debt explains what happens to debts left behind.