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Shawbrook Bank: Savings reviews

Name: Savings
Rating: 4.83 (1123 reviews)

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4.84

Based on 1,123 reviews, last reviewed 30th Sep 2024

50% decrease in 5 star reviews

in the past 90 days

50% decrease in 1 star reviews

in the past 90 days

93%

Latest highest rating:

5

Having always used 'BIG' banks I was hunting around... Having always used 'BIG' banks I was hunting around for the best rates for my cash ISAs. Shawbrook had great interest rates but I was a little nervous... Read more Reviewed on: 30th September 2024

Latest lowest rating:

1

They won't act on ISA transfer instructions to trans... They won't act on ISA transfer instructions to transfer an ISA for one with a much better rate, it's October tomorrow and this has been ongoing since ... Read more Reviewed on: 30th September 2024

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About this product

Shawbrook savings reviews can help you to find out more about life at Shawbrook. How easy is it to contact Shawbrook? And how friendly are they? Our Shawbrook savings reviews can help you to find out information like this. Smart Money People is an independent source of honest reviews.

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Shawbrook Bank Savings reviews (1123)

Closure Problems

I want to close my 0.01% interest account but the online procedure simply will not let me. Although in my account details it shows my "Nominated Account" when you try to transfer the funds into it, the nominated account disappears and then the process will not continue. Like others have said, very easy to put your money in and very difficult to get it out again Reviewed on: 15th December 2023

BEWARE PENNY PINCHING BANK

I have transferred matured fixed rate ISA's to new providers on numerous occasions. From my past experience the new provider has requested funds from the existing provider ahead of the maturity date and the transfer has been completed on the day of maturity or on the next working day. However, Shawbrook Bank acknowledged the request had been received but chose to place my funds in an account earning 0.10% for 16 days until making the transfer. I feel that I was punished for withdrawing funds and will not use this bank again. Reviewed on: 7th November 2023

Painfully Slow ISA Transfer So They Fleece Money From You

Zero stars if I could. Started a ISA transfer of £60k transfer from Shawbrook to NatWest on 19th October, given ISA maturity on 27th October. I wrongly thought this would provide Shawbrook with plenty of time to act on the day of maturity, as my previous experience of many other transfers were measured in low number of days. On 27th October my funds matured and Shawbrook transferred them into their matured funds account paying 0.1% interest. You can guess why they operate at a snails pace while creaming 5.25% depositing my money overnight with the Bank of England and paying 0.1% to me. Funds were ‘ready for payment’ 1st November. It is now close of business on 3rd November and still no transfer. More delays with the weekend ahead. Zero customer service when you call for any updates. Avoid, avoid, avoid. Cheap, grubby tactics to rinse customers out of £150 lost interest and soon to be rising. Reviewed on: 3rd November 2023

No one time code is ever received

Setting up ISA online, they tell me i need to reset password, which i do and they say they will send a one time code.....which they dont. Glad to find out how inefficient before i put in money. now going elsewhere Reviewed on: 19th September 2023

Savings Plan Account

Easy way of placing savings via an ISA, which delivers good returns Reviewed on: 31st August 2023

Iffy log in set up

Products and bank fine and have been with them a long time. However lately the stage of the log in process once you have the code by text can take forever - record so far 1 min 20 secs. Reviewed on: 8th August 2023

Very poor customer service which is non existent.

Tried to contact customer services by telephone (cut off as soon as connected) Left message for CEO (no reply) emailed twice and had no response. Have withdrawn savings to another bank with customer service. Reviewed on: 2nd August 2023

Happy so far.

I opened an easy access savings account at just over 4.5%. This went smoothly and completed the process on same day with no need to contact customer services. Reviewed on: 27th July 2023

Easy to read and use website

Always look at this website to compare the market Reviewed on: 18th July 2023

Good interest rates

Consistently good rates, easy to use, good communication Reviewed on: 1st June 2023

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