Savings FAQs

What is your postal address?

The Savings Team, Shawbrook Bank Limited, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE.

What are your opening hours?

Monday to Friday, 9:00am to 5:30pm, excluding English Bank holidays.

I have just applied for an account online, does that mean I won't receive anything in the post?

That’s correct, you will not receive anything in the post. All documents will be uploaded as eDocuments to your online eSavings account.

Where can I find my account number?

This is shown on your account summary within your online eSavings account, and on your welcome letter that has been uploaded to your eSavings account.

Can I send a cheque to fund my account?

You can send a cheque to fund your account. Please make the cheque payable to yourself and write your Shawbrook account number on the reverse of the cheque. Then send the cheque to:

I have just sent an electronic payment but it's not showing on my online account?

If you send an electronic payment the funds can be credited to your account the same working day, if sent prior to 3.30pm.

Can I make more than one deposit?

Yes. Please ensure that the product is still open for funding before sending a deposit as this will be returned if the product is no longer available. To see a list of the products that have been withdrawn, click here.

Can a third party speak to you on my behalf?

Yes, they can but we must take the account holder through security questions first.

What will I need when I call you?

We will confirm your personal information and answers to the memorable information you provided during the application process.

I am an existing customer but not an online customer, can I open a new account that is online only?

Yes. Please go ahead and apply for your new savings account online and our team will then merge your new and existing profiles.

Can I close my notice or fixed account early and pay a penalty?

You can close or withdraw early from a Notice Cash ISA or Fixed Rate Cash ISA although there will be an early exit charge to pay, please contact us for more information on the charges.

I have forgotten my password?

You can reset your password online if you have a mobile number registered to your account. To do this please select ‘reset password’ located on the log in screen of eSavings. 

I cannot reset my password online

You can only reset your password online if you have a mobile number registered to your eSavings account. If you cannot reset your password online, it’s likely that you do not have a mobile number registered. Please contact us and we will help you to register a mobile number and reset your password.

Can I close an account and transfer the balance of my account into a different Shawbrook product?

This is dependent on the type of account you currently hold. You can only transfer your notice account into a fixed rate bond without providing notice.

Are my deposits protected?

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

For further information or visit www.fscs.org.uk

Can I open an account?

To open an account, we have some basic criteria you’ll have to satisfy. You must:

How do I open my account?

To open an account, you can apply online via our website or contact us by phone. When you complete your application, we will check your eligibility and verify your identity.

Can I cancel my account?

If you change your mind and wish to cancel your account, you may do so at any time within 14 days from opening your account or receiving your contractual terms (whichever is later). Please write to us by post, send us a secure message or call us.

What is a nominated account?

A nominated account is a UK Bank or Building Society account (that you nominate when opening your Shawbrook savings account) that allows you to make and receive electronic payments (including Faster Payments, BACS, and CHAPS). Deposits into your account must come from your nominated account and any withdrawals out of Shawbrook Bank (including interest payments) will be sent to your nominated account.

Do you collect money from my nominated account?

No, Shawbrook Bank will never collect money from your nominated account. To make an electronic transfer from your nominated account into your new savings account contact your bank or building society where your nominated account is held and make a payment using the following details:

Why do I need to provide nominated bank account details?

Nominated account details are required for security reasons. We want to make sure that your money is safe and therefore we check that the UK bank account you nominate is owned by you.

Where can I view my nominated account?

If you are a registered user of eSavings, you can view your nominated account details by logging in online and going to the 'My Accounts' tab. Click on 'Account Details' tab and then select an account to view.

Can I change my nominated account or add a new nominated account?

Yes, you can update your nominated account. Once you have added your new nominated account, your old nominated account will no longer be valid as you can only have one nominated account associated with an existing account.

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

We will verify your address, identity and nominated account details before opening an account for you.

Can I receive gross interest on my savings account?

ISA Accounts all cash ISA accounts pay interest gross (tax free).

Important changes to your personal savings allowance.

How can I manage my account?

You can manage 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?

Non ISA Statements

This depends on the product, please refer to the Key Product Information literature that you received with your welcome letter.  Typically statements are issued annually on the anniversary of your 1st deposit, our older products issue statements in January.

Cash ISA Statements

You will receive a statement on the anniversary of account opening.

 

How can I view my statement?

If your account is registered for eSavings you can view your statement online within the ‘eDocuments’ section. You can also save copies of your statements to your computer and print copies of your statements.

How do I obtain a tax statement?

Tax statements are normally made available within 4 weeks of the end of the tax year.

How do you confirm my identity?

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 to verify your identity.

What is eSavings?

eSavings is the internet banking service provided by us that enables you to service your savings account online. For your accounts registered within eSavings you can:

How do I register for eSavings?

Please contact our customer service team and request an ‘eSavings registration form’. Once you have completed the form and send it back to us, we can process this and set up your eSavings account.

How do I view all of my Shawbrook savings accounts within eSavings?

If you are an existing Shawbrook savings customer and apply for a savings account online, you will be able to view your new account within eSavings. 

What is a secure message?

A secure message is a messaging system that only works within your eSavings account. These messages can only be seen by you when you log into your eSavings account. To view or send a secure message, log into your eSavings account and go to the ‘Messages’ tab.

How do I create a secure message?

You can create a secure message by logging into eSavings, clicking on ‘Messages’, and then clicking on ‘Create Message’. You can then select an account and a subject you wish to message us about.

How do I know you have responded to my secure message?

When we respond to a secure message you will receive an email to your registered email address asking you to log into your eSavings account to view the secure message.

What is a customer number?

Your customer number is a six-digit number unique to you, used when logging into your eSavings account. It is provided to you via email when you first open an online account.

I have forgotten or misplaced my customer number?

If you have forgotten or misplaced your customer number, please contact us.

What is a login name?

You can choose to select a login name when using eSavings that will be remembered by your computer whenever you log in.

What is my eSavings password?

When you apply for a Shawbrook eSavings account, you will be asked to create a password and set up a memorable word.

Can I change my password?

Yes, to do this log into your eSavings account and click on the 'My Details' tab in the top right-hand corner of the page. Click on the option 'Change Password' and follow the on-screen instructions.

What are cookies?

Cookies are small pieces of software that sit on your computer. To use eSavings you must have cookies enabled on your internet browser.

Is there a minimum/maximum deposit amount?

There are minimum and maximum deposit amounts which are specific to each product type. Please view your key product features for further details.

What is Shawbrook Bank's sort code?

Our sort code is 16-58-73.

How do I make a deposit into my Savings account?

You can deposit funds into your account by making a CHAPS or electronic transfer from your nominated account or send us a cheque made payable to yourself and write your Shawbrook account number on the reverse of the cheque. Please send the cheque to:

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

You can make a deposit into your account at any time until your product is withdrawn from the market. Once withdrawn the product will become closed to new applications or new deposits. We will contact you in advance if any of the products you hold are being withdrawn.

Are there withdrawal restrictions on accounts?

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

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. 

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. 

Fixed Term Accounts You will receive your funds on the working day after your maturity day.

Easy Access Accounts Next day electronic transfer where a withdrawal request is received prior to 2.30pm on a working day, your payment should be received by the beneficiary bank on the next working day.

ISA Accounts (Notice ISA, Fixed ISA, Easy Access ISA) Next day electronic transfer where a withdrawal request is received prior to 2.30pm on a working day, your payment should be received by the beneficiary bank on the next working day. 

CHAPS - Where a payment request is via 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. CHAPS payments are subject to a £20 fee.

Cheque withdrawals - Requests received prior to 2.30pm on a working day will normally be processed and sent via the post that day.

What is an ISA?

An ISA is an Individual Savings Account. It is a tax-efficient wrapper for your savings or investments.

Can I have more than one cash ISA in a single tax year?

HMRC rules mean that you cannot hold more than one cash ISA in the same tax year.  If you have already opened a cash ISA in this tax year with another provider then you cannot open and fund a new cash ISA with Shawbrook Bank unless:

What happens if I exceed the maximum annual cash ISA subscription allowance?

We will monitor the total level of deposits made during any tax year and if we receive an individual payment that takes your account above the maximum annual subscription amount, we will return the whole amount of that individual payment. 

Can I transfer my existing ISAs held with other providers across to Shawbrook Bank?

You can transfer your current ISA(s) with another bank to Shawbrook Bank whenever you want. 

What happens if I die?

If a sole account holder dies, the deposit will transfer to the deceased's executors/administrators.

What happens if I move abroad?

If you become non-resident in the UK or  you are planning to become a non-UK resident for tax purposes, you must inform us as soon as reasonably practical of your intention to do so and in any event, you must inform us before the date you become a non-UK resident. Your account will be closed in line with the terms and conditions of the account. 

Where can I find out more information on ISAs?

There is more information available from HMRC regarding ISAs.

You can also get more information from TISA.

Unfunded ISA Accounts

If you do not make a deposit into your cash ISA account in any tax year and that product is open and accepting additional deposits, your account will be treated as inactive.

What is a memorable word?

A memorable word is a word chosen by you in order to add another level of security to your eSavings account.

How do I change my memorable word?

If you would like to change or have forgotten your memorable word for your eSavings account, please contact us and a member of our team will help you to reset it.