Closing or maturing your account

Maturing Accounts

I want to change my maturity instruction, how do I do that?

You can change your mind at any time until the date your account matures. You may want to do this if rates have increased since you gave your original instruction and you’d like to take advantage of the new rates.

The quickest way to change your maturity instruction is in your online account. We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens.

Follow these steps if your online account has not been upgraded yet.

Log in, go to Home and look for the account that's maturing.
Select the three dots under Action.
Select Delete Maturity Instructions and then Confirm.
Go back to Home and look for the account that's maturing.
Select the three dots under Action.
Select Setup Maturity Instructions.
Follow the steps to give your new instruction.

Follow these steps if your online account has been upgraded.

Log in, go to Home and look for the account that's maturing.
Select View maturity instruction.
From there, you can either edit your instruction or cancel it and start again.

The change will be processed immediately and your new instruction will be actioned when your account matures.

How can I give you a maturity instruction online?

We'll write to you before your account matures and let you know your options. Then you can log in to your online account to send your maturity instruction.

We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens.

Follow these steps if your online account has not been upgraded yet.

Log in, go to Home and look for the account that's maturing.
Select the three dots under Action.
Select Setup Maturity Instructions.
Follow the steps to send your instruction.

Follow these steps if your online account has been upgraded.

Log in, go to Home and look for the account that's maturing.
Select Explore maturity options.
Follow the steps to send your instruction.

If you decide to reinvest with us, you’ll have access to exclusive maturity rates only available to existing customers. You can also choose any of the accounts on our website.

You’ll only see maturity offers for the type of account you currently have. Contact us if you’d like to reinvest:

from a fixed rate to an easy access or notice account
from a fixed rate ISA to a standard fixed rate bond
from a standard fixed rate bond to an ISA

What happens when my account matures?

When your account matures, you can withdraw your money, or put it into a new bond or notice account.

We'll write to you before your account matures and let you know what the options are if you want to transfer to a new product with us.

If you don't tell us what you'd like to do, the balance will remain as 'matured funds' until you let us know what you'd like to do. The account number will remain the same, but your interest rate will change to the 'matured funds' rate. You can withdraw funds from this account at any time, but you cannot deposit additional funds.

My bond is about to mature and the rates offered to me are different to the rates on your website

We create your maturity invite a few weeks before your bond is due to mature. That means that we may have new products on offer by the time your bond matures.

You're more than welcome to choose any of our current products, or we'll honour the products on your maturity letter - whichever you prefer.

To take advantage of your maturity rates, we'll need to receive your instruction before the maturity date.

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

Easy Access Accounts

You can transfer your Easy Access account to any of our products. Please log in and open the new account online, then send us a secure message to request that we close the older account and transfer money to the new account.

Notice Accounts

You can transfer your notice account to any of our products once you’ve served the notice period on the account.

Fixed term bonds

Just before your account matures, we’ll get in touch about how to transfer to a new product. You can’t transfer your fixed term bond to another product until your current product matures.

Closing an account

How do I let you know someone has died?

If we were entrusted with the late account holders savings, we're committed to ensuring their savings are released to the person(s) they have chosen. In most cases, the account can be transferred or closed. We can also arrange to pay funeral costs directly from the account should this be needed.

We work with the Death Notification Service (DNS) to make the process as simple as we can.

Once you’ve used the service to let us know someone has passed, we’ll be in touch to let you know what the next steps are. If they had more than one account with us, there’s no need to tell us separately. We’ll check all Shawbrook accounts and let you know about them together.

You can find out more about how to use the service on our dedicated bereavement page.

Can I cancel my account if I change my mind?

It depends on the account you have.

Easy Access

If your account is an ISA, you can cancel your new account within the 14 day cooling off period. You might want to cancel if your account is an ISA and you want to open another as you can only open one cash ISA account per tax year. If you want to transfer your funds to another ISA account (with us or elsewhere), please contact us. We’ll talk you through the process and what the next steps are so that your money maintains its ISA status.

If you have a standard easy access account, you can close it any time without penalty. To close your account, please contact us. When you cancel your account, we’ll return any deposits to your nominated account.

Notice accounts

Yes, you can cancel your new account within the 14 day cooling off period. When you cancel your account, we’ll return any deposits to your nominated account. To cancel your account, please contact us.

Fixed term bonds

You don’t have a cooling off period with fixed term bonds - once you've opened a fixed term deposit account, it can't be closed until the term ends (also known as maturity).

Fixed term bond ISAs

If your fixed term bond is an ISA, you will have a 14 day cooling off period. You can cancel your ISA account within 14 days with no charge. If you’re transferring your funds to a new ISA account (with us or elsewhere), please contact us before closing your account.

After 14 days, you can't cancel your ISA. You are able to withdraw your funds early, but there will be an early exit charge to pay, even if you transfer funds to another provider. Please contact us for more information.

Getting in touch

You can contact the savings team by logging in and sending a secure message, or contacting us by phone.

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

Notice accounts

You have a 14 day cooling off period on your notice account from when the account is opened, but after this, you'll need to wait until the notice period has been served.

Fixed term bonds

You don’t have a cooling off period with fixed term bonds - once you've opened a fixed term deposit account, you are unable to withdraw funds until the term has expired.

Fixed term bond ISAs

If your fixed term bond is an ISA, you are able to withdraw your funds early, but there will be an early exit charge to pay, depending on the product you’ve chosen. Please contact us for more information.

You can contact the savings team by logging in and sending a secure message, or contact us by phone.

You’ll also find details of early exit charges in the Key Product Information document provided when you open your account.

What happens if I die?

In the event of your death, we will transfer savings held solely in your name to your executor or administrator. They will have the choice to receive the savings immediately, or let the account run for its contractual period and be released at the end of the fixed term or the expiry of any notice period.

We work with the Death Notification Service to help those administering your estate to inform many companies like us with one set of paperwork.

You can find out more about how we’ll work with those administering your wishes by visiting our dedicated bereavement page.

Transferring an ISA

What you should know before transferring an ISA

The differences between withdrawing and transferring an ISA

There is a difference between withdrawing and transferring. If you withdraw money from an ISA into a non-ISA, before then placing it into another ISA, the money will lose its tax-free status.

In addition, if the money was deposited in the same tax-year, it may reduce how much money you can pay back into an ISA during that tax-year given the Annual ISA Allowance of £20,000.

Transferring from one ISA to another ISA ensures you maintain ISA tax-free status benefits.

Flexible ISAs are the exception. A flexible ISA allows the withdrawal and replacement of money during the same tax year, without affecting your Annual ISA allowance year. Shawbrook does not offer flexible ISAs.

Please consider your individual circumstances, and if it would be best to undertake the ISA transfer process to ensure your money maintains its tax-free status. 

For more information, visit our pages below:

Operating multiple ISAs across different providers 

In 2024, it became possible to operate more than one ISA in the current tax year. This means you can invest in multiple ISAs with different providers at the same time – spreading your annual allowance across them all. However, at Shawbrook you can only open one Cash ISA per tax year, and you cannot split your allowance across more than one Cash ISA in the same tax year.

For more information, visit our 2025/26 cash ISA allowance page. 

How to transfer your ISA

Transferring an ISA is a straightforward process, provided you follow the correct steps to maintain your tax-free benefits. Before proceeding with the transfer, please consult our guidance: What You Should Know About Transferring an ISA. 

Transferring an ISA from another provider to a Shawbrook ISA
To transfer an existing ISA from another provider to a new Shawbrook ISA you will need complete the online ISA application form. If your provider is not part of the Electronic Transfer Scheme, a separate form is required for a manual transfer.

As part of your application process, we will capture the details of your current ISA. We will then work with your existing ISA provider to complete the transfer for you, and you'll keep your ISA tax-free status benefits.

To transfer money into a Shawbrook ISA that’s newly opened please contact our friendly Savings Team by phone, or log in and send us a secure message.

At Shawbrook, we accept transfers from Cash ISAs or Stocks and Shares ISAs. Cash ISA transfers typically take 4 to 5 working days but can take up to 15 working days. Stocks and Shares ISA can take up to 30 calendar days.

Transferring from one Shawbrook ISA to another Shawbrook ISA 
To transfer your Shawbrook ISA to another Shawbrook ISA please contact our friendly Savings Team by phone, or log in and send us a secure message and we will complete the transfer.

Transferring a Shawbrook ISA to another provider 
If you want to transfer your Shawbrook ISA to a new provider, you need to follow their process for transferring ISAs to them. The information your new ISA provider asks for may vary, but in general you will need to provide a sort code and account number of your Shawbrook ISA.  

Your account number - You can find your account number by logging in to your account. Your account number is displayed on the home screen next to your account name. 

Your sort code - Our sort code is 16-58-73. This is the same sort code used on all Shawbrook savings accounts.   

Other references - Your new provider may ask you for information like a roll number or reference number. We don't use role numbers or reference numbers, so you can leave this blank if your new provider asks for it.   

What happens next  
Your new provider will manage the transfer, confirm next steps and let you know if they have any questions. They'll also confirm when the transfer is complete. 

Partial Transfers 
We don't offer partial transfers, so if you wish to transfer funds from your Shawbrook ISA to another provider, you’ll need to transfer the whole amount and close your Shawbrook ISA.  