Harrods Bank

Harrods Bank

Harrods Bank Limited is a private personalized banking service which operates from the Harrods store in Knightsbridge. Harrods Bank was started in 1893. The bank made a trading loss of £391,633 in 2010.

In 1991 the House of Commons Trade and Industry Committee ordered the Governor of the Bank of England, Robin Leigh-Pemberton, to order the owners of Harrods, Mohamed Al-Fayed, and his brother Ali Al-Fayed, to transfer control of the Harrods Bank to trustees, after they found that the Fayeds were not "fit and proper" to run the bank.

In October 2009, Harrods Bank started to sell gold bars and coins that customers can buy "off the shelf". The gold products range from 1g to 12.5kg, and can be purchased within the Bank. Harrods Bank also offer storage services, as well as the ability to sell back gold to the bank in the future.