Business Savings FAQs

How do I make a deposit into my Savings account?

You can deposit funds into your account via the following methods:

Can I make a deposit into my account at any time?

You can make a deposit into your account at any time until the product is closed for funding. Once a product is closed for funding we may refuse new deposits into the account.

What is Shawbrook Bank’s sort code?

Our sort code is 16-58-73.

Is there a minimum/maximum deposit amount?

There are minimum and maximum deposit amounts which are specific to each account type. 

How quickly will the funds show in my account and when will I start to earn interest?

When you make a deposit, funds will normally be credited to your account on the following basis:

Are there withdrawal restrictions on accounts?

The ability to make withdrawals depends on the type of account you hold:

How do I submit my withdrawal request? (for Notice Accounts and Easy Access Accounts)

Write to us – you can write to us to make a withdrawal. Send your request to our postal address stating:

Where will my funds be sent?

Withdrawals out of Shawbrook Bank will be made to the bank account held in the name of your business. We cannot issue a payment to a third party from Your Savings account.

When will I receive my withdrawn funds?

Notice Accounts - When you put an account on Notice, the expiry of your notice period will always be on a working day (you will be notified of the date in advance) and you will normally receive your funds on the next working day.

Can I open an account?

You can open an account if you are a sole trader, limited company, partnership or limited liability partnership.

How do I open an account?

You can open an account by post. To apply, please download the application form.

Can I cancel my account?

If you change your mind and wish to cancel your account, you can do so within the first 14 days from the opening date of your account. Please note this cancellation right does not apply to Fixed Term Deposit accounts. You cannot cancel a fixed rate fixed term account once it is open.

What checks do you do before I can open a savings account?

We will verify your business entity, the registered address of your organisation, as well as verifying the identity of all key individuals detailed (Partners, Directors, Members, Authorised Signatories etc).

Can I receive gross interest on my savings account?

Interest can be paid gross subject to the tax status of your business.

Are my deposits protected?

Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

How can I operate my account?

You can operate your account in the following ways:

Where can I find my Savings Account Number?

Your Savings account number will normally be provided to you when you open your account in the following ways:

When will I receive a statement?

You will normally receive a statement every January covering the previous year as well as a statement at the closure of your account.

How can I view my statement?

You will be sent a statement via the post to the trading address we hold for your business.

How do I obtain a tax statement for my account?

Tax statements are normally sent to the trading address of your business within 4 weeks of the end of the tax year.

How we verify you when you contact us

When accepting instructions over the telephone (either when we call you or when you call us), we will ask you a number of security questions in order to verify your identity.