Oxbury Bank Reviews, Features, Pros & Cons
By combining the worlds of agriculture, financial services, and technology, bankers, farmers, agricultural enterprises, and technologists, we formed Oxbury, the first bank in the UK wholly committed to supporting the rural economy.
The company’s team of Relationship Managers is essential because they are knowledgeable about farming and banking and can speak with farmers directly on the farm about unique lending prospects.
Overview of Oxbury Bank
The only bank in the UK exclusively focused on the rural economy is Oxbury, a specialist agricultural bank. They offer farmers the specialized financing they require to operate their operations and savings accounts for everyone who wishes to support British farmers and UK agriculture.
The Oxbury bank also regularly converse with farmers about their businesses, which has given them a thorough grasp of the agricultural industry and the difficulties that farmers face.
Their customers can spend less time dealing with the administration since we make prompt and appropriate choices on credit facilities using our industry expertise and a technology platform specifically designed for the job.
Also, the safe platform and mobile app are available around-the-clock for accessing our lending and savings accounts. Their committed relationship managers assist our customers’ requirements by offering various agricultural expertise and banking guidance.
The bank of choice for farmers from its establishment as a fully regulated bank in February 2021, Oxbury has flourished and they are pleased that many of the leads for the hundreds of lending arrangements currently on the books came from recommendations from other farmers and businesspeople.
Oxbury has already disbursed hundreds of millions of pounds in the form of long-term loans and cashflow-related products to support farmers. They are assisting farmers with investments for business expansion and modernization.
At Oxbury, they have a very optimistic outlook on the future of agriculture and the tremendous prospects it offers the food and farming industry. By subsidizing increases in productivity and efficiency, lowering carbon footprints, creating energy, raising high-quality crops and livestock for domestic consumption and export, diversifying operations, and many other strategies, Oxbury is actively working to assist farmers in taking advantage of these opportunities.
Although Oxbury received its banking license in January, it is conducting a new investment round while striving to comply with its requirements. It plans to begin in the early autumn with a current staff of roughly 40 individuals.
Hutchinson, a company specializing in crop production, and Frontier Agriculture, a joint venture between Associated British Foods and US food giant Cargill, are two of the group’s current investors that the Oxbury bank have.
The founding of Oxbury is similar to that of early European financial institutions like France’s Crédit Agricole, which was established in the 1800s to aid farmers’ cooperatives.
Benefits of Using Oxbury Bank
At a glance, the advantages of adopting Oxbury include the following:
1. It is a substitute for supplier/trade credit and overdraft
Because of Oxbury’s flexibility, farmers can purchase inputs whenever they want and pay for them according to their cash flow needs.
Farmers can move when possibilities occur because of traditional banks’ quicker financing decisions.
2. There is relationship-based banking
You get to converse with those familiar with your business and sector. With affordable pricing and a competitive interest rate, Oxbury offers additional operating capital.
3. Flexible security standards
The credit approval staff at Oxbury knows the underlying financial stability of buildings and land used for agriculture.
4. Improve record-keeping and payment processes
Digital technologies from Oxbury enhance the farm office’s management of bills and payments.
Oxbury Farm Credit
Oxbury Farm Credit is a new means of funding agricultural purchases. Oxbury Farm Credit offers a revolving finance account that may adapt to members’ seasonal cash flow needs. This is a very helpful supplementary line of credit because agricultural businesses need working capital more than ever.
This is a solution to the cash flow issue that many members confront because they must pay for inputs (seed, crop protection, fertilizer, feed, and diesel) months before getting money from the sale of their outputs (such as grain and pulses) Credit Farm Oxbury
Oxbury Farm Loan
The Oxbury Farm loan specializes in financing projects related to climate change, land purchases, land productivity, consolidation, and consolidation. Some of the features of the farm loan available at Oxbury Bank include the following:
- 12 weeks to 25 years
- Variable and fixed rates
- Capital & interest, as well as interest-only
- payments tied to cash flow
What Makes Oxbury Farm Loan the Best?
- The loan’s duration may be between six months and twenty-five years.
- Offering variable or fixed interest rates, including interest-only for brief periods
- payback schedules that are tailored to your business’s seasonality and specific demands
- Decisions that are made swiftly enable agricultural enterprises to seize possibilities as they present themselves.
Oxbury Forest Saver
The Oxbury forest saver is becoming the first carbon-free bank in the UK. Since their inception, they have assisted their customers in moving toward net zero. Oxbury Forest Saver is a special account where farmers and the general public can reduce their carbon footprint in favor of the environment.
• The first savings account in the UK to proactively finance new UK woodland
• A £100,000 carbon footprint reduction each year
A one-year bond account typically pays interest over one year. With Oxbury Forest Saver, interest is increased by investing in the planting of trees. Thanks to our collaboration with Forest Carbon, they are assisting in the tree planting at a special Oxbury Forest on Ruddenleys Farm on the Scottish borders.
While this happens, every penny saved with Oxbury Forest Saver exclusively supports other UK farms.
Oxbury Bank Contact Info
You can locate the Oxbury bank at One City Place on Queens Road in Chester, CH1 3BQ Open from Monday through Friday, 9 am to 5 pm.
Phone number:
Oxbury does not post a phone number, which is inadequate. However, you can reach them at 01244 735002.
The website is www.oxbury.com.
Email address: savings@oxbury.com
Frequently Asked Questions
Who is connected to Oxbury Bank?
The only bank in the UK that specializes in agriculture and solely has one area of focus to the rural economy is Oxbury. They give farmers the specialized financing they require to operate their operations, and we offer savings accounts to everyone who wishes to support British farmers and UK agriculture, whether an individual or a corporation.
How huge is Oxbury Bank?
According to research, inquiries for loans totaling more than £100 million have been made to Oxbury which is the first agricultural bank established since 1928. Around 65 people work with the bank and its goals include a balance sheet of £1 billion in five years and a 5% market share for agricultural loans by 2025.
How can I open an Oxbury savings account?
You can open any savings account online by going to the Oxbury Bank website, https://www.oxbury.com, and selecting the savings tab.
- After submitting your application, you will need two devices to authenticate your account to use Online Banking: This procedure, which calls for using your smartphone’s camera, is described in an email you will get.
- Once the account is active, you will use your smartphone to authenticate, login in, and carry out and view transactions.
When am I able to use the Oxbury Farm Credit facility?
As soon as your account is established and you start receiving invoices for payment from the authorized Oxbury Distributors (your suppliers), you can use your Farm Credit Oxbury facility.
After receiving your application, we use our expertise in the field and a platform with custom-built technology to make prompt and accurate choices regarding credit facilities for our clients. This is contingent upon you promptly completing and returning all paperwork granted to you for facilities approved by Oxbury Bank, providing all needed information to your agricultural relationship manager, and otherwise.
What does the Oxbury Farm Loan Do?
You can expand your farm company and meet your longer-term financial needs with the aid of an Oxbury Farm Loan, which specializes in the following:
- Infrastructure Improvements for Farms Using Renewable Energy and Carbon Reduction
- Purchase of Land Consolidation of Existing Loans
- Projects for Rural Diversification
- succession preparation
Is Oxbury Bank protected?
As a UK-regulated bank, your investments are safeguarded by the Financial Services Compensation Scheme (FSCS), the country’s deposit guarantee program, up to a maximum of £85,000 per person.
How can you determine if a bank is safe?
You can ask your bank if it is FDIC-insured, look for an FDIC sign on its property, phone the FDIC at 877-275-3342, or search for the bank in the FDIC Bank Locator to find out.
Conclusion
Oxbury has rapidly expanded and is now the bank of choice for farmers since it began operating as a fully licensed bank in February 2021. We are pleased that many of the thousands of clients who have borrowed money did so after hearing recommendations from other farmers and businesspeople.
The UK’s farm businesses benefit from increased flexibility thanks to Oxbury Bank. It can make quick lending decisions because of its specialized agricultural lending teams and custom technologies, so farmers and growers may devote more time to the farm and capital to expanding their enterprises.
Oxbury can provide prompt decisions and products at affordable prices because of this and modern technology