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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)

I've never had an issue with this

The ISA interest rates are the most competitive and you can easily transfer you money to the account. The application process was easy as well. I got my account set up almost instantaneously. Reviewed on: 10th December 2022

Never had an issue over many years

Up until recently they had one of the best easy access rates and I have swapped account a number of times to get the new better rate and while a pain not automatic also been informed and easily swapped using the online secure messaging. I am moving my easy access saving, but only so I can use my protected £85K for a 1Yr cash ISA again one of the best rates. Reviewed on: 4th December 2022

Cumbersome, antiquated and inept.

Shawbrook Bank took over two weeks to process our online application for a fixed rate bond. By the time they opened the bond it had been withdrawn and despite us transferring the funds from our linked account on the same day they were returned without explanation. A week of lost interest earnings on a significant sum of money. We would never trust this outfit again. Reviewed on: 18th November 2022

Poor Interest

Despite the BOE base rate increases, Shawbrook have only raised my cash ISA from 0.92 to 1.39 in July & 1.39 to 1.49 in August. Very Poor! Reviewed on: 15th November 2022

Taking what does not belong to them

These people have a policy of allowing themselves 24-48 hours to return your money to your designated account. They use the excuse that they are not a UK clearing bank. Neither is Marcus Goldman Sachs but I have my money same day. In a technology world that can transfer money in nano seconds it is a sad indictment of senior management that they retain old fashioned ripping the customer off rather than providing a customer service that is available in today's world. Pathetic R. Gilbert Reviewed on: 11th November 2022

Poor return

They don't pass on the interest rises on to the customer, still stuck on 2.04 percent..... Sort it out! Reviewed on: 28th October 2022

Knowledgeable

I have had no issues with this company, they are fair, honest and reliable. Reviewed on: 20th July 2022

No Customer Service

Do not transfer an existing ISA to this company. You will not speak to anybody on a phone call as you will probably be No 72 in the queue. Online the "secure" messaging service is worse than useless. They will tell you that they cannot find transfer forms until the 14 day cooling off period has passed, then they can pull 90 days interest charge....the list goes on. I have complained of course and they reassured me that my complaint will be dealt with in the next 8 weeks, need I say more. thoroughly bad experience wit this sharp, unpleasant Bank. Don't be fooled by the advertising Bull**** Reviewed on: 18th June 2022

Use at your peril!

Have tried several times to contact customer services - to no avail. Have waited on the phone for 50 mins with no answer and then was rudely disconnected. I transferred a sum of money and it has not appeared! Am extremely concerned and have no idea what to do now! Don't waste your time with this bank -.utterly incompetent!. Reviewed on: 14th May 2022

Absolutely dreadful product and customer service.

I opened a savings account Easy Access Issue 25 with an interest rate of 0.4% around a year ago. The newer Issue 29 has an interest rate of 0.89% so I was losing out. I tried to call the bank on several occasions to see if my account could be upgraded to the higher interest rate. Each and every time I have called, I have been put in a queue ranging from no.23 to no.36 in this queue when I call. I must hang up before an hour elapses or I am chargd for the call so I have never been able to get further than no.14 or or better in the queue. It appears from the wait times that only one person is taking telephone calls. So being unable to transfer my money to the higher rate account, I am in the process of closing the account with the ridiculous 0.4% interest rate and moving my savings elsewhere. Unfortuntely, I have to give at least one star rating which is too much for this abysmal service, Never again. Reviewed on: 9th May 2022

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