Personal - FAQs

Personal - FAQs

Making Deposits

How do I make a deposit into my Savings account?

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



Cheque – send your cheque to our address referencing your Shawbrook Savings Account number on the reverse of the cheque. Cheques must be made payable to you, or, (in the case of a joint account) to one or both of you.



Electronic Payments (Faster Payments, BACS, CHAPS) – contact you bank or building society and provide the following details: 


- Beneficiary: Your Name or, (in the case of a joint account) one or both of your names

- Account Number: Your Shawbrook Savings Account Number

- Sort code: 16-58-73

- Reference: Your Name or, (in the case of a joint account) one or both of your names



Transfer funds from another Shawbrook Savings Account – in some circumstances you may be able to transfer funds from existing Shawbrook Savings accounts. The Shawbrook Savings Accounts must be held in your name (in the case of a sole account), or (in the case of a joint account) one or both of your names. Please contact our dedicated customer servicing team on 0845 266 6611 (9am-5.30pm Mon-Fri excluding Bank Holidays) who will be able to assist you with this request.



With the exception of Funds Transfers from other Shawbrook Savings Accounts, deposits into Your account must come from Your Nominated Account or (if there is no Nominated Account associated with Your account) from a bank or building society account held in Your name (if that account is a sole account) or (if a joint account) where You are one of the joint account holders.

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You can make a deposit into your account at any time until the product is withdrawn. Once a product is withdrawn we may refuse new deposits into the account. You can check whether a product has been withdrawn by visiting the ‘Withdrawn Products’ section of our website. We will not normally notify you when a product is withdrawn.

What is Shawbrook Banks 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. The minimum and maximum deposit amount will be shown on the Key Product Features document that is provided to you when you apply for a new account.

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:



Cheque

- when a cheque is received on a working day and within banking hours, it will be credited to your account on that working day

- when a cheque is received on a non-working day or after banking hours it will be credited to your account on the next working day

- your cheque deposit will normally clear within six working days although it will start to earn interest from the second working day after it is credited to Your account



Faster Payment/BACS/CHAPS

- Electronic Payments received on a working day will normally be credited into your account on that day and start to earn interest on that day.



Transferring funds from another Shawbrook Savings Account

- Funds transferred between Shawbrook accounts will show as cleared funds and start to earn interest in the destination account on the same working day the transfer takes place. Transfers between Shawbrook accounts will only take place on a working day.



IMPORTANT NOTE:

A working day is Mon-Fri 9am-5.30pm excluding Bank Holidays
Banking hours are 9.30am-3.00pm Mon-Fri excluding Bank Holidays


Making Withdrawals

Are there withdrawal restrictions on accounts?

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



- 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.



- Fixed Term Accounts – 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.



- Easy Access Accounts – withdrawals can be requested by you and actioned by us on the same working day providing the withdrawal request is received by 2.30pm on a working day (Please see question ‘When will I receive my funds?’ for further information).



IMPORTANT NOTE:


A working day is Mon-Fri 9am-5.30pm excluding Bank Holidays



Please read this question in conjunction with the question entitled ‘Where will my funds be sent?’ and ‘When will I receive my withdrawn funds?’

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

Personal eSavings – If your account is a registered for Personal eSavings then you can submit a withdrawal request via secure message. Simply go to ‘Messages’, then click on the tab ‘Create Message’. Select the product you wish to make a withdrawal from in the account list then select one of the withdrawal options from the subject list.



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


- the account you wish to make the withdrawal from

- the amount of the withdrawal

- the date of withdrawal (or applicable notice period)

- how you wish the funds to be paid to you (subject to ‘Where will my funds be sent?’)



Contact our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).

Where will my funds be sent?

Withdrawals out of Shawbrook Bank will be made to your Nominated Account or (if no Nominated Account is associated with Your account) to a bank or building society account held in your name or a joint account where You are one of the joint account holders. We cannot issue a payment to a third party from Your Savings account.



Where your Savings account does not have an associated Nominated account we can also send funds via Cheque upon request only. Cheque withdrawals will be sent by post to the address we hold for you.



Withdrawals may also be transferred to an alternative Shawbrook Savings Account (subject to the destination account being open and not withdrawn). The Shawbrook Savings Accounts must be held in your name (in the case of a sole account), or (in the case of a joint account) one or both of your names.

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 is 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 – cheque withdrawal requests received prior to 2.30pm on a working day will normally be processed and sent via the post that day.



IMPORTANT NOTE:


A working day is Mon-Fri 9am-5.30pm excluding Bank Holidays.


Opening Your Account

Can I open an account?

To open an account you need to be at least 18 years of age and a permanent resident in the UK (excluding the Channel Islands and Isle of Man). We cannot accept applications from customers who are US residents or citizens, including dual citizenship.



You can open an account in your name only (sole account) or with one other eligible person (joint account). There is no limit to the number of accounts you can hold.

How do I open my account?

You can open an account online or via the post. The quickest way to open an account is to complete the online application form and subject to you being eligible and us being able to verify your identity, we will normally be able to set your account up immediately. To apply by post, click on the application download button on our website.



If you are a registered user of Personal eSavings, you can also apply for an account via the ‘Apply Online’ section of the site. By making an application in this way, the amount of information you have to provide will be significantly less than completing a full new application. In addition, your new account can be viewed using your existing Personal eSavings log on details.

Can I open an account as a Power of Attorney?

To make an application for an account as a Power of Attorney please contact our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).

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 accounts. You cannot cancel a fixed rate fixed term account once it is open.



You can notify us of your cancellation by writing to us at our address or (if you are a registered user of Personal eSavings) sending us a secure message.

What is a nominated account?

A nominated account is a UK Bank or Building Society account (that you nominate when opening your 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.



You can hold one nominated account for each savings account you hold. If your Nominated Account is a sole account it must be in your name, or (in the case of a joint account held with Shawbrook Bank) at least one of Your names. If the Nominated Account is a joint account, then at least one of You must be named on that account.

Do you collect money from my nominated account?

No. Your nominated account is a UK bank account that you should use to make deposits from and where any withdrawals will be paid in to. 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:



- Sort Code: 16-58-73

- Account number: Your Shawbrook Savings Account number

- Reference: Your name as the payment reference



Alternatively you can send us a cheque drawn on your nominated account.

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. This means that when we receive new deposits into your account and make withdrawals out of your account we can be sure the funds are being received and sent to your bank account.

Where can I view my nominated account?

If you are a registered user of Personal eSavings, you can view your nominated account details by logging on and going to the ‘My Accounts’ tab, clicking on Account Details and then select an account to view. There will be a summary of your product details shown and the nominated account details for that specific Savings account will be shown.



If you are not a registered user of Personal eSavings, you can contact our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays) who can confirm your nominated account details.

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

Yes, you can change your nominated account details associated with an account or add nominated account details to an existing account. If you are a registered user of eSavings, you can submit a secure message detailing the new nominated account details you wish to use. Alternatively, you can write to us at our address or contact our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).

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. We do this by checking various electronic databases. In the event that we are unable to verify you in this way, we may ask you to supply us with some identity documents by post. We will not be able to open your account until we have successfully verified your details.

Can I receive gross interest on my savings account?

Interest can be paid gross if you are a non-tax payer and submit a HMRC form R85 to us, this is available at www.hmrc.gov.uk. You can also request an R85 form from us by submitting a secure message (if you are a registered user of Personal eSavings), or contacting our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).


About Shawbrook Bank

Who are Shawbrook Bank?

Shawbrook Bank specialise in the savings and lending markets where we have solid experience and knowledge.



We give our customers a straightforward, no-nonsense alternative to the high street. And we combine traditional banking values with a modern approach.



We think of ourselves as the best of banking past – good customer service and common sense decisions – with the easy access of a modern bank. We use common sense and judgement when we take decisions, not a rigid computer score.



We have been in business since 1944 and became a licensed bank in 1971. RBS Equity Finance bought the bank in January 2011, and provided substantial capital to help the business grow. In 2011 we bought additional lending businesses, and we changed our name to Shawbrook in October 2011.



Shawbrook has no legacy lending from the financial crisis, so we’re free of toxic debt. We are UK owned, operate exclusively in the UK and have office locations in England and Scotland. The dedicated customer servicing team are based at our office in Brentwood, Essex.

Are my deposits protected?

Shawbrook Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The FCA and PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/pra.



Shawbrook Bank is a member of the Financial Services Compensation Scheme (FSCS), a scheme that protects customers’ deposits. Currently £85,000 per person is protected under the scheme. For more information about the scheme, and the limits of the protection, visit www.fca.org.uk.

What is the address for Shawbrook Bank?

Our address for correspondence is:



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


How can I operate my account?

You can operate your account in the following ways:



We think of ourselves as the best of banking past – good customer service and common sense decisions – with the easy access of a modern bank. We use common sense and judgement when we take decisions, not a rigid computer score.



- Personal eSavings (see ‘Personal eSavings’ FAQs) - operate your account online

- Contacting our dedicated customer servicing team - our dedicated customer servicing team can be reached on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays)

- You can write to us - please send your correspondence to our address

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:



- If you apply via the post your account number is provided within your welcome letter sent to your home address.

- If you apply on-line you will be sent a customer number to your email address. You use this number along with the password you set up during the on-line application process to log into Personal eSavings where you can view your account numbers.

- On statements – you will be able to view your account number on any statements you have been sent by us.

If you cannot locate your account number using any of the approaches outlined above please give us a call on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).

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. If your 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.

How can I view my statement?

If your account is registered for Personal eSavings you can view your statement on-line within your eDocuments section. You can also save copies of your statements to your computer and print copies of your statements.



If your account is not registered for Personal eSavings your statement will be sent via the post to the address we hold for you. IMPORTANT NOTES FOR JOINT ACCOUNTS: Although we will address the statement to all joint account holders, all postal correspondence will be forwarded to the address of the account holder named first in our records.

How do I obtain a tax statement for my account?

Tax statements are normally made available within 4 weeks of the end of the tax year on the following basis:



If your account is registered for Personal eSavings a tax certificate will be made available in your eDocuments store where it can be viewed, saved to your computer and printed.



If your account is not registered for Personal eSavings, you can request a paper tax statement after the end of the tax year by contacting our dedicated customer servicing team on 0845 266 6611 (Mon-Fri 9am-5.30pm excluding Bank Holidays).

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. If we cannot verify you, we will be unable to talk to you about your account(s).



When accepting instructions in writing, we will verify that the signature used on the instruction matches the signature you have provided us. If you have not provided us with a signature, we will call you to verify your instruction before actioning it.



When accepting instructions by secure message your identity will have been verified by the secure log in information required to gain access to Personal eSavings (this is usually customer number and password). We cannot accept instructions by general non secure email.


Personal eSavings

What is Personal eSavings?

Personal eSavings is the internet banking service provided by us that enables you to service your Savings account on-line. For your accounts registered within Personal eSavings you can:



- View transactions on your accounts (deposits, withdrawals, transfers and interest paid)

- Check your account balances and interest rates on your accounts

- View various documents associated with your account including statements

- Send secure messages to undertake a wide range of requests, including putting your account on notice and changing your details

- Review your total gross and net interest paid in a tax year for your individual accounts



Once you are a registered user of Personal eSavings you can also apply for new products using a much shorter application form than you would if you applied via our on-line form as a new customer.



IMPORTANT NOTES:

You can currently only view Personal Savings accounts held with Shawbrook Bank. If you hold a Business, Charity or Trust account you cannot view them on-line at this time although we are looking to develop this functionality in 2014.

How do I register for Personal eSavings?

At this time the only way to gain access to Personal eSavings is when applying for a new product on-line where you will be asked to set up the security details and password required to have access. We are working on a registration process for existing customers that we hope to be available during early 2014.

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

If you are an existing Shawbrook Personal Savings customer and apply for a new Personal Savings account online, you will be able to view your new account within Personal eSavings. If you wish to view any existing Savings accounts within Personal eSavings you can send us a secure message instructing us to register your existing accounts.



IMPORTANT NOTES:

You will not be able to view any Business, Charity or Trust Accounts you hold with us. We are developing a Business eSavings service but this will not be available until 2014.

What is a secure message?

A secure message is an email system that only works within your secure Personal eSavings. This means that messages sent by you to us, and messages that we send back you are only viewable within your Personal eSavings service. Information about your accounts is therefore sent and received securely as it can only be viewed once you have successfully logged into Personal eSavings (which requires a customer number and password which are known only to you).

How do I create a secure message?

You can create a secure message by logging into Personal 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. Some of the messages you select will have templates that you can use to help you provide the information we need to action your message. Secure messages can be used for a wide variety of requests and queries including withdrawals, changing personal details, requesting R85 forms etc.

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

When we respond to a secure message you will received a message to your non secure email address we hold for you (for example, a Hotmail address). This message will not contain any personal information but it will inform you that you have a new message waiting for you in your secure message box within Personal eSavings. To view your new secure message simply log into Personal eSavings, click on ‘Messages’ and ‘View Messages’.

What is a Customer Number?

Your customer number is a 6 digit number unique to you. It is usually provided to you when you first open an account that can be operated via Personal eSavings. Your customer number is sent (only once) to the email address you have given us as soon as your account is opened.

I have forgotten or misplaced my Customer Number?

Please contact our dedicated customer servicing team on 0845 266 6611 between 9am-5.30pm Mon-Fri (excluding Bank Holidays).

What is ‘Login Name’?

You can choose to select a Login Name when using Personal eSavings that will be remembered by your computer whenever you log in. When you go to the log in screen of Personal eSavings you will no longer be asked to enter your customer number and password, instead you will see your login name appear and you will be asked to enter your password only. This will save you having to remember your customer number AND password every time you log on. WE STRONGLY RECOMMEND THAT LOGIN NAME IS NOT USED ON SHARED OR PUBLIC COMPUTERS.

Personal eSavings Password

Your password is set up by you and known only to you. It is used along with your customer number to access your Personal eSavings service. It is usually created by you (only once) during the application process when you first open an account that can be operated via Personal eSavings. We will never ask you for details relating to your Personal eSavings password. PLEASE ENSURE YOU KEEP YOUR PASSWORD SECRET AND TAKE CARE WHEN ENTERING PASSWORDS, ESPECIALLY WHEN USING A PUBLIC OR SHARED COMPUTER.

I have forgotten my password?

Simply click on the password re-set button on the login page and follow the instructions. You will be required to enter your customer number and the answers to a few security questions and you will normally be able to re-set your password instantly.

I cannot re-set my password on-line

If you are unable to re-set your password using the process outlined in the question above then please contact our dedicated customer servicing team on 0845 266 6611 between 9am-5.30pm Mon-Fri (excluding Bank Holidays).

Can I change my password?

Log in to Personal eSavings and click on the ‘My Details’ link in the top right hand corner of the page. Click on the tab called ‘Change Password’ and follow the on-screen instructions.

What are Cookies?

To use Personal eSavings you must have cookies enabled on your internet browser. Cookies are small pieces of software that reside on your computer. The cookies used to enable Shawbrook Personal eSavings will not hold any personal data (apart from your login name if you choose that option).