Depositing & withdrawing money

Making a deposit

How do I make a deposit into my business 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.

Do you collect money from my nominated account to fund my business savings 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.

Your payment will need to come 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.

When can I make a deposit into my business savings notice account?

You can add money to your account, up to your maximum deposit amount, whenever you like.

How to make a deposit into your account.

How long do I have to deposit money into my account after I open it?

That depends on the account. Our easy access and notice period accounts allow you to deposit money any time, subject the maximum balance allowed on the account.

You can add money to your fixed term bond as long as the product is not withdrawn. When we withdraw a product, you will be able to fund it for 7 working days after we withdraw it. You can find a list of our withdrawn products in our savings documentation.

Can I make more than one deposit into my business savings account?

Easy access and notice accounts

You can make as many deposits as you like, up to the maximum deposit amount.

Fixed rate bonds

You can add 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You can check if a product is withdrawn by checking the savings documentation page and checking the withdrawn product list.

You're welcome to take out an additional bond if you wish for further funds. Please contact the team by secore message and they'll help you apply for a second account.

You can contact the team by logging in and sending a secure message.

Can I add more money to my business savings fixed rate bond?

Yes, you can add more money to your fixed rate bond if 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 the savings documentation page and checking the withdrawn product list.

You're welcome to take out an additional bond if you wish for further funds. Please contact the team by secore message and they'll help you apply for a second account.

You can contact the team by logging in and sending a secure message.

What is Shawbrook's sort code?

Our sort code is 16-58-73.

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

Funds are credited to your account the same working day, if sent before 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.

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

If you've registered a mobile number with us, we'll send you a text to let you know the funds have been credited.

Withdrawing your money

How do I submit my withdrawal request for my business savings account?

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 write to us either 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

Please write to us at:
The Business Savings Team, Shawbrook Bank Limited, Sunderland SR43 4AG

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 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.

Are there withdrawal restrictions on business savings accounts?

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.

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

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 to log in and send us a secure message, as we'll need to help you do this.

When will I receive my withdrawn funds from my business savings account?

Easy Access 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.

Where will my funds be sent from my business savings account?

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 all relevant parties listed in your Shawbrook savings account.

Please note, we no longer issue cheques.