Depositing & withdrawing from your account
Making a deposit
How do I make a deposit into my savings account?
You can make a payment to us by electronic payments only. This includes Faster Payments, BACS and CHAPs.
As we don't take payment from you automatically, you'll need to make any payments from your nominated, or linked, account, using the following details:
Payee Name: Shawbrook Bank
Sort Code: 16-58-73
Account number: Your Shawbrook Savings Account number
Reference: Your name as the payment reference
If you're not sure what account number to use, you can get help on how to find your account number.
We're not part of the confirmation of payee scheme, so your bank may tell you this when you try and make a payment. It's nothing to worry about. For peace of mind, you may wish to make a small 'test' payment of £1. Once the payment has processed, you'll see it in your account.
If you already have an ISA and want to transfer your previous allowances to us, you can find out more on how to transfer an ISA.
Do you collect money from my nominated account?
No, we never collect money from your nominated account.
You can make a payment to us by electronic payments only. This includes Faster Payments, BACS and CHAPs.
As we don't take payment from you automatically, you'll need to make any payments from your nominated, or linked, account, using the following details:
Payee Name: Shawbrook Bank
Sort Code: 16-58-73
Account number: Your Shawbrook Savings Account number
Reference: Your name as the payment reference
If you're not sure what account number to use, you can get help on how to find your account number.
For peace of mind, you may wish to make a small 'test' payment of £1. Once the payment has processed, you'll see it in your account.
If you already have an ISA and want to transfer your previous allowances to us, you can find out more on how to transfer an ISA.
Can I make more than one deposit?
Easy access and notice accounts
You can deposit money at any point, up to the maximum deposit amount.
Fixed rate bonds
You can add more money to your account as long as the product is still open for funding, up to the maximum deposit amount.
If your bond is removed from sale (we'll do this when we have new rates), you'll usually have seven days from removal to add any more funds to your account.
You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list.
You're welcome to take out an additional bond if you wish to deposit further funds.
Fixed rate bond ISAs
You can deposit up to the maximum ISA allowance per year into a fixed rate ISA, each tax year, up to the maximum deposit amount of the account. Even if your fixed rate bond has been withdrawn, you can still make a deposit if it's an ISA.
The ISA allowance for the 2024/25 tax year is £20,000. This means you can save £20,000 of new money into your ISA in this tax year.
Our Cash ISA maximum balance is £250,000 so you can transfer other ISA balances into your new Shawbrook ISA up to £250,000.
If these balances are from previous tax years, they do not count towards the £20,000 limit in the current tax year 2023/24.
If you're splitting your ISA allowance over several ISAs, the maximum deposit across all of your accounts is £20,000.
For more about ISAs, please look at our guide to ISAs.
If you've already opened an ISA with us this tax year, any other accounts would need to be from our standard, non-ISA range.
You can apply for any new products online by logging in as an existing customer.
Can I make a deposit into my account at any time?
Easy access and notice accounts
You can deposit money at any point, up to the maximum deposit amount.
Fixed rate bonds
You can add more money to your account as long as the product is still open for funding, up to the maximum deposit amount.
If your bond is removed from sale (we'll do this when we have new rates), you'll usually have seven days from removal to add any more funds to your account.
You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list.
You're welcome to take out an additional bond if you wish to deposit further funds.
Fixed rate bond ISAs
You can deposit up to the maximum ISA allowance per year into a fixed rate ISA, each tax year, up to the maximum deposit amount of the account. Even if your fixed rate bond has been withdrawn, you can still make a deposit if it's an ISA.
The ISA allowance for the 2024/25 tax year is £20,000. This means you can save £20,000 of new money into your ISA in this tax year.
Our Cash ISA maximum balance is £250,000 so you can transfer other ISA balances into your new Shawbrook ISA up to £250,000.
If these balances are from previous tax years, they do not count towards the £20,000 limit in the current tax year 2024/25.
If you're splitting your ISA allowance over several ISAs, the maximum deposit across all of your accounts is £20,000.
For more about ISAs, please look at our guide to ISAs.
If you've already opened an ISA with us this tax year, any other accounts would need to be from our standard, non-ISA range.
You can apply for any new products online by logging in as an existing customer.
How long do I have to deposit money into my account after I open it?
Easy access accounts and notice accounts
You can deposit money at any point, up to the maximum deposit amount.
Fixed rate accounts
You can add more money to your account as long as the product is still open for funding, up to the maximum deposit amount. When we withdraw a product, you will be able to fund it for 7 working days after we withdraw it.
You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list.
ISAs
You can deposit money into an ISA account, even if it's a fixed term bond that's been withdrawn. You can only deposit up to £20,000 in an ISA per tax year, although you can arrange to transfer ISA funds from previous allowances into your account, subject to the maximum deposit amount.
If you opened your ISA with us before May 2018, your ISA may be closed to funding. Please contact us and we’ll be able to check if you still add funds.
How quickly will the funds show in my account and when will I start to earn interest?
Funds are credited to your account the same working day, if you send them before 3.30pm. If you send the funds after this time or not on a working day (Saturday and Sunday or English bank holiday), the funds will credit your account the following working day.
For example, if you send funds from your bank account on Friday after 3.30pm, your account will show that the money has left, but it won’t show that we’ve received it in your Shawbrook account until the Monday, when we’ve applied it to your account.
If the Monday is an English public holiday, it won’t show until Tuesday.
You will begin to earn interest once the credit has been applied to your account.
If you've registered a mobile number with us, we'll send you a text to let you know the funds have been credited.
I have just sent an electronic payment but it's not showing on my online account?
Funds are credited to your account the same working day, if sent prior to 3.30pm. If funds are sent after this time or not on a working day (Saturday and Sunday or English public holiday), the funds will credit your account the following working day. You will begin to earn interest once the credit has been applied to your account.
If you've registered a mobile number with us, we'll send you a text to let you know the funds have been credited.
If it's been more than one working day since you transferred the funds, check your nominated account in case it's been returned to your account. This could happen if the product is no longer open for funding. Please contact us if you have any issues and we'll take a look.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
Can I add more money to my fixed rate bond?
Standard fixed rate bonds
You can add more money to your account as long as the product is still open for funding, up to the maximum deposit amount.
If your bond is removed from sale (we'll do this when we have new rates), you'll usually have seven days from removal to add any more funds to your account.
You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list.
You're welcome to take out an additional bond if you wish to deposit further funds.
ISAs
You can deposit up to maximum ISA allowance per year into a fixed rate ISA, each tax year, up to the maximum deposit amount of the account. This can be over several deposits if you wish.
The ISA allowance for the 2024/25 tax year is £20,000. This means you can save £20,000 of new money into your ISA in this tax year.
Our Cash ISA maximum balance is £250,000 so you can transfer other ISA balances into your new Shawbrook ISA up to £250,000.
If these balances are from previous tax years, they do not count towards the £20,000 limit in the current tax year 2024/25.
If you're splitting your ISA allowance over several ISAs, the maximum deposit across all of your accounts is £20,000.
For more about ISAs, please look at our guide to ISAs.
If you've already opened an ISA with us this tax year, any other accounts would need to be from our standard, non ISA range.
You can apply for any new products online by logging in as an existing customer.
What is Shawbrook's sort code?
Our sort code is 16-58-73.
What is confirmation of payee
Most banks have introduced the 'confirmation of payee' scheme which is designed to help you avoid fraud.
As part of this check, your bank will search a database of current accounts and try to verify the sort code and account number.
Because we don't operate a current account, we're not included in this scheme. This means your bank is likely to say that they can't confirm the payee and that you should be careful, and to double check you're sending money to the right place.
There's no need to worry - as long as you use the sort code 16-58-73 and enter your eight-digit Shawbrook savings account number correctly, everything will go through fine.
If you're not sure what account number to use, you can get help on how to find your account number.
You may wish to make a small 'test' payment of £1. Once the payment has processed, you'll see it in your account.
Withdrawing your money
How do I withdraw money from my account?
You can request a withdrawal by logging into your eSavings account online by selecting withdrawals and following the on-screen steps.
How much you can withdraw and how often will depend on the type of account:
Cash ISAs
All our ISAs allow withdrawals but if you choose a fixed cash ISA, you’ll be charged an interest fee for any withdrawals. Our easy access cash ISA allows fee-free withdrawals but redepositing is less flexible than a standard easy access account, as you’ll need to keep within your £20,000 tax-free allowance.
Fixed rate bonds
With a fixed rate bond, you can’t withdraw money until the end of the term – also known as when the account reaches maturity. If you think you may need your savings before the maturity date, a notice account or easy access account may be more suitable for you.
Notice accounts
Withdrawals can only be made subject to the notice period of the account, which is either 45 or 120 days. Just let us know you want to access your savings, and we’ll send your money to your nominated account when the notice period has passed.
Easy access
With an easy access account, there are no limitations on the number of withdrawals you can make up to the full balance, but the account is subject to minimum withdrawal amounts. Our standard easy access accounts have a minimum withdrawal amount of £500.
How do I submit my withdrawal request?
Please check if there are withdrawal restrictions on your account before submitting a request.
For online accounts
You can submit a withdrawal request online via our eSavings portal. Simply log in, then go to the ‘request’ tab in eSavings. Select either ‘withdraw’ if you want a specific sum or ‘closure’ if you wish to withdraw the full amount and follow the instructions on screen.
For postal accounts
You can submit your request by post or call us stating:
• The account you wish to make the withdrawal from
• Amount of the withdrawal
• How you wish the funds to be paid to you
By post: The Savings Team, Shawbrook Bank Limited, Sunderland SR43 4AG
By phone: If you'd rather call, please call our dedicated customer servicing team, who will be able to assist you.
You can contact the savings team on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
Are there withdrawal restrictions on accounts?
It depends on the account.
If your account does allow you to withdraw funds, taking your account below the minimum balance will affect the interest we pay. Check your terms and conditions for more details.
Notice Accounts
If your account has a notice period, then you will not be able to withdraw funds within your applicable notice period. You will need to submit a withdrawal request to us and once your notice period has expired your funds will be sent to you. Find out how to submit a withdrawal request.
Fixed Term Bonds
You will not be able to withdraw funds prior to end of your fixed term. Before expiry of your fixed term we will write to you to let you know the Shawbrook Savings options available for your maturing funds which will include withdrawing the funds out of the bank.
If your fixed term bond is an ISA, you can withdraw funds (although you'll lose your ISA status on these funds), with a minimum withdrawal of £1,000. If withdrawing money will leave you with less than £1,000, you'll need to contact us so we can discuss the options with you.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
Easy Access Accounts
If we receive an online withdrawal request before 9:30pm on a working day (or a request made by phone or secure message by 2:30pm), you should receive your funds into your nominated account on the next working day.
Find out more information on when you'll receive withdrawn funds.
Some Easy Access Accounts have a minimum withdrawal limit. Please check your Key Product Information for more information.
If you want to withdraw less than £500, you'll need log in and send us a secure message, as we'll need to help you do this.
ISA Accounts
You can withdraw your funds at any time but this will result in you losing your tax benefits from the point of the withdrawal. If your account has a fixed term or notice period, there may be an early exit charge to pay
To maintain your tax benefits you can transfer out your cash ISA balance to another ISA provider at any point. To make a transfer out you must contact your new ISA provider and request a transfer. Your new ISA provider will undertake the transfer on your behalf. If you withdraw funds or transfer funds out to another provider before the end of any fixed term or notice period you may incur an early exit charge (normally a loss of interest). After the exit charge has been applied you may have less money than you originally deposited depending on the terms of your particular Shawbrook Bank cash ISA.
Details of early exit charges will be contained in the Key Product Information document provided when you open your account.
If you make a withdrawal from a cash ISA account you cannot deposit funds back into your account if the deposit amount means you exceed the maximum annual subscription allowance.
Where will my funds be sent?
Withdrawals out of Shawbrook Bank will be made to your nominated account. We cannot issue a payment to a third party from your savings account. If you need to, you can change your nominated account.
Withdrawals may also be transferred to an alternative Shawbrook savings account (subject to the destination account being open for funding and not withdrawn). The Shawbrook savings accounts must be held in your name (in the case of a sole account), or one or both of your names (in the case of a joint account). You'll need to contact us to arrange this.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
When will I receive my withdrawn funds?
Easy Access Accounts & ISA accounts
It takes a working day for funds to reach your account, so if you make your request on a Wednesday, the funds will be with you by midnight on Thursday.
Our payment process halts at the weekends and on public holidays, so payments can take longer.
- Cut-off times for eSavings
You'll need to request a withdrawal by 9.30pm on a working day in order for your funds to reach you the next working day. - Cut-off times for phone and secure message requests
You'll need to request a withdrawal by 2.30pm on a working day in order for your funds to reach you the next working day. - Requests made at the weekend
If you make a withdrawal request after the cut-off point on Friday, or at any point on a Saturday or Sunday, you will receive your funds by midnight on Tuesday. If there's bank holiday, this will add an extra day to the process.
Notice Accounts
When you request a withdrawal of funds from your notice account, you will be told which date the notice expires on, in advance. You'll typically receive your funds the next working day after this date.
Fixed Term Accounts
Before expiry of your fixed term we will write to you to let you know the Shawbrook Savings options available for your maturing funds which will include withdrawing the funds out of the bank.
If you tell us you wish to withdraw your money, you'll receive your funds on the working day after the account matures.
View all savings help
If you have a question about our savings products you’ll probably find the answer here.
Opening an account
Helpful information if you’re applying for a savings account with Shawbrook.
Documents & information
You’ll find forms, standard terms and other information here for our personal savings products.
About our savings products
Find a contact number, explore our products or get help and inspiration with our savings insights hub.
Contact us about savings
If you need to get in touch with our team, you can find details here.
Our savings proposition
You’ll find out more about our products and proposition on our savings home page.
Savings insights hub
Whether you’re looking to brush up on your knowledge of the savings basics or understand what to consider when choosing a savings account, our insights hub has a range of useful information to help you to make the most of your money.