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Shawbrook
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Shawbrook Bank - Savings, Loans, Business & Property Finance
Shawbrook is a specialist savings and lending bank, offering personal loans, residential and commercial mortgages, business finance, and savings products.
Website
shawbrook.co.uk
P Gilbert
"Difficulty accessing my money"
Followed their process for withdrawing money requested it before 9 30pm on Thursday expecting it to go into my current account by midnight Friday It s now Saturday afternoon and still no sign Also changed my nominated account a couple of weeks ago and their messaging during the process was unclear One message said thanks for sending proof meets our requirements no further information required but the following day I got a message saying the information will be sent to us and actioned I ve checked the sort code and account number for the new nominated account on the Shawbrook website and they are correct I have messaged Shawbrook but as it s the weekend and they are closed will need to wait until next week
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Paul
"Can t access your money quickly "
Just be aware unlike other banks that seem willing and able to transfer your money out within 2 hours of a request instruction this one holds on to it for up to 36 hours or more Not helpful at all This was when the funds sat in a Matured Funds account a place you d have thought was specifically designed to allow the funds to be moved simply and quickly to their next destination Not so
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MikeSheffield
"Fixed Rate bond funds paid by BACS"
Previous years fixed rate bonds have gone into my bank on the day they matured Now they send them via BACS takes 3 working days so my latest bond which expired on 28th March 2024 won t reach my bank until a weeks time due to the Easter holidays If I can transfer up to 100k per day immediately WHY CAN T Shawbrook Then again they don t pay any interest while you wait for a few days for your own cash
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Chris
"I had been a long time member of "
I had been a long time member of Shawbrook Bank but since the start of 2024 I am glad to be leaving for a number of reasons 1 My interest rate was downgraded 3 times since the start of the year 2 Constant errors on the website saying that another user had changed my login details whenever I tried to log in - this meant I was having to constantly reset my password3 Requested to close my account on Wednesday 27th March 2024 and move my balance into my bank account I received this money on Tuesday 2nd April 2024 - now whilst I am aware that there was bank holidays - this is not great service for a standard 1 business day 4 My interest rate had dropped from over 5 when initially signing up to an easy access but by the time I left it was down to 4 6 - there are plenty more on the market still offering 5 percent or more I doubt I will ever return back here - such a shame as this place had outstanding reviews when I signed up over 3 years ago
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Simon B
"Not recommended"
I have an Easy Access account and twice in the past few weeks I ve been notified of interest rate drops there have been none for my accounts with other bank So today I logged in intending to open a Notice account and just transfer all my funds from my Easy Access to that WIth other banks this takes literally minutes - log in open new account choose transfer all funds from and five minutes later the account is set up and money transferred But with Shawbrook you have to log in re-enter your nominated account information open the new account then wait for validation I assume close your old account wait for the funds from your old account to be received into your nominated account then transfer them from your nominated account to the new account I really can t be bothered to do this so I think I ll be looking elsewhere In addition the site log on is not great occasionally producing error pages if you click too quickly Deposits take half a day to be received and apparently the bank is not part of the bank validation scheme In summary the whole process with Shawbrook is clunky and slow
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Val Wilson
"Disappointing News"
l have only just taken out an easy access savings account with an interest rate of 5 only to be informed that this rate is due to be reduced soon to 4 70 A bit disappointing
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John
"Shawbrook Needs To Up It s Game "
I ve had a number of accounts with Shawbrook in the past I ve come and gone depending on how competitive the interest rate are at the time Banking with Shawbrook is archaic compared to other banks The following needs addressing- Too slow to respond to messages No app Minimum 500 withdrawal limit and no faster payments so credits are delayed especially over the weekend and withdrawals are the next day The challenger banks like Zpoa Tandem Marcus Gatehouse Atom and Monument are much user friendly banks
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G S
"Changed rate"
Was waiting to hear back about a loan application and then got an email saying they were waiting to hear back from me and to check my spam folder because it was a known problem for some providers that it would go straight to spam I was still able to complete the requirements of sending information in the time i had however the sneaky snakes had increased the interest rate by a few percent to what i d applied for I hadnt got time to argue it as the email problem had cost me a week Read the small print folks
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A K
"Maturity Fiasco"
This is the 2nd time I have experienced difficulties when my ISA account reached maturity with Shawbrook Despite my new provider informing me the transfer has been approved the funds are ready for payment the payment has not been made from Shawbrook It appears the funds are held for far longer than necessary at this Bank after maturity This is obviously a scam as my funds while being held up are receiving just 0 01 from Shawbrook Bank
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Bhasker Patel
"Cash ISA Transfer delay"
Cash ISA Transfer delay ISA competitive rates make customers move the funds but in today s digital world banks and governments set a guideline of 15 working days While the fund is sitting with the original bank interest rate of 0 1 If the new ISA rate is 5 2 Loss of earnings is 5 1 Original bank asks the customer to make a maturity wish a month before the date but it still takes 15 WD as per the guidelines If a customer delays the payment date he she will be charged by the bank a late payment fee plus charges but banks can delay funds transfer that s ethical
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