Savings Accounts

If you do not have a Shawbrook account you can open on our website by selecting Learn more and apply next to the account you'd like.

All our applications are subject to eligibility and verification of your identity. If we need more information from you to complete our checks and set up your account, a member of our team will be in touch within five working days from the submission of application.

If you already have a Shawbrook account you can open another one easily from your online account. Log in, compare accounts and apply in a few steps.

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: your name
• Account number: your eight-digit account number
• Sort code: 16-58-73
• Reference: your name again 

If you're not sure what account number to use, you can get help on how to find your account number.

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.

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 linked (nominated) account in case it's been returned. This could happen if your account 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.

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.

Cash ISAs are free of income tax. 

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 in-depth information, visit our Cash ISA Allowance for 2024/2025 page.