Companies, partnerships and shareholding companies must be UK registered and only liable for UK tax.
All partners/directors/sole traders/additional signatories and shareholders must be:
We do not apply account fees or charges.
Yes. The balances vary by product, so you will need to check the Key Product Information of the product you wish to apply for.
The ability to make withdrawals depends on the type of account you hold:
Yes, however you will only be able to open one account online initially, any additional accounts will need to be opened following the below methods.
You can, however each business will need to have its own individual account.
We will verify your business entity, the registered address of your organisation as well as verifying the personal identity of all key individuals detailed (Partners, Directors, Members, Authorised Signatories etc).
Please refer to the Key Product Information for your product for details on how you can apply.
Alternatively, contact our dedicated customer servicing team on 0345 266 6611 (Monday to Friday, 9am to 5:30pm, excluding Bank Holidays) who will be able send you an application pack.
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.
No, we will not automatically take any deposit. We ask for a nominated bank account to be held against your Shawbrook account to ensure against fraudulent activity, so we will only accept deposits and credits to/from this account. You will need to set up and arrange for any transfer of deposits from your nominated account.
All interest payments will be paid gross.
When you make a deposit, funds will normally be credited to your account on the following basis:
You can operate your account in the following ways:
Our sort code is 16-58-73
Your Savings account number will be provided to you when you open your account in the following ways:
When accepting instructions via the telephone (either when we call you or when you call us), we will ask you several security questions to verify your identity. We will use your security details you provided on your application. If we cannot verify you, we will be unable to talk to you about your account(s).
Please note that you can only reset your password online if your online access has not been blocked. Simply click on the password reset button on the login page and follow the instructions. We will send a temporary password to your registered mobile phone.
If you are unable to reset your password using the process outlined above, then please contact our dedicated customer servicing team on 0345 266 6611.
You will receive an annual statement on the anniversary of your first deposit as well as a statement on the closure of your account. If your initial savings account has a duration of less than a year, for example, a 6 month bond, you will only receive a statement at the closure of your account.
If an online account – you can view your annual statement in the eDocuments section of your portal.
If a postal account - you will receive an annual statement in the post.
If an online account – you can view your Tax statement in the eDocuments section of your portal.
If a postal account - Tax statements are normally sent to the trading address of your business within 4 weeks of the end of the tax year.
For online accounts – you can request this by logging into your eSavings account online by selecting withdrawals and following the on-screen steps.
For postal accounts - you can write to us either by post (at the address below) or call us stating:
By post - The Savings Team, Shawbrook Bank Limited, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE.
By Phone – Please call our dedicated customer servicing team who will be able to assist you on 0345 266 6611 (Monday to Friday, 9am to 5:30pm, excluding Bank Holidays).
Withdrawals from your Shawbrook Bank savings account will be made to the bank account listed against your account. We cannot issue a payment to a third party or an unidentified account from your savings account.
You can change your nominated account via post. Your request would need to be signed by the authorised signatories as per your signing mandate. We will also require proof that the new nominated account is held in the name of the business. This could be in form of a void cheque or a bank statement sent to the address below:
Business Savings Team, Shawbrook Bank Limited, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE
Alternatively, you can contact us on 0345 266 6611.
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 following this.
Fixed Term Accounts - You will receive your funds on the next working day after your maturity date, provided we have received confirmation from you that you wish to withdraw your maturing deposit.
CHAPS - Providing the CHAPS payment details are received by 2.30pm on a working day, then the funds will normally be received by the beneficiary bank the same day.
Cheque withdrawals – Cheque withdrawal requests received prior to 2.30pm on a working day will normally be processed and sent via the post the next working day.