Shawbrook Bank

ranciduk

Sorry I don’t follow

sometimes I ring TSB and instruct them via telephone banking to transfer money to my Halifax current account 

so would it be the same principle?

does that mean Shawbrook give you an account number and sort code - which I would give to TSB?

Daliah

ranciduk said:

Sorry I don’t follow

sometimes I ring TSB and instruct them via telephone banking to transfer money to my Halifax current account 

so would it be the same principle?

does that mean Shawbrook give you an account number and sort code - which I would give to TSB?

In Shawbrook, you must specify a nominated account. It is the account from which all deposits are made into your Shawbrook account, and to which all your withdrawals from your Shawbrook account will be made. 

Therefore, the nominated account must be able  to send and receive payments, best a current account that you will still have when you want to withdraw your money from Shawbrook.

It is your choice which bank you hold your nominated account with

ranciduk

Yes I fully understand that!

so i would nominate my TSB current account with Shawbrook 

but how does the money then actually get from my nominated account - to Shawbrook 

I know this sounds dumb but this is the bit I don’t get 

Daliah

The same way you move money from TSB to other accounts. The easiest is a faster payment but as you are not willing to have TSB online/app banking, you‘d have to ask TSB

Billycock

ranciduk said:

Yes I fully understand that!

so i would nominate my TSB current account with Shawbrook 

but how does the money then actually get from my nominated account - to Shawbrook 

I know this sounds dumb but this is the bit I don’t get 

If you use your TSB current account for online banking then you can nominate that account on your account with Shawbrook, if the TSB account isn't set up for online banking (electronic/digital) and is used only for telephone banking then it can't be used.

Do you have any bank accounts which you use to transfer money online/mobile?
Which bank do you have as your nominated account with your Vanguard Investor?  Whichever it is use the same bank as your nominated account with Shawbrook, then you would transfer money via phone banking from TSB into 'whichever bank' then transfer it again from 'whichever bank' to Shawbrook via online/mobile

ranciduk

I don’t use online/mobile/internet banking - full stop

this is ok with Ns&i and vanguard as you can use your debit card from Your current account to make deposits 

is the simple answer - if you don’t do online banking - you cannot fund a Shawbrook account?

Billycock

how-do-i-make-a-deposit-into-my-savings

-where-will-my-funds-be-sent

Via cheques, but temporarily suspended due to Covid. Seems like too much hassle via cheques. Easier, faster, straightforward and cheaper to use online/mobile banking. 

wmb194

Just call TSB's telephone banking and have them make a payment for you to the Shawbrook account. When you opened the account Shawbrook must have given you a sort code, account number and possibly a reference. If you had to give Shawbrook a nominated  account make sure the deposit comes from this account.

ranciduk

wmb194 said:

Just call TSB's telephone banking and have them make a payment for you to the Shawbrook account. When you opened the account Shawbrook must have given you a sort code, account number and possibly a reference. If you had to give Shawbrook a nominated  account make sure the deposit comes from this account.

Thats all i needed to know

thanks

ranciduk

Billycock said:

ranciduk said:

I don’t use online/mobile/internet banking - full stop

this is ok with Ns&i and vanguard as you can use your debit card from Your current account to make deposits 

is the simple answer - if you don’t do online banking - you cannot fund a Shawbrook account?

So your Vanguard fees are taken from your investments?  Oh my!!

No I have a small amount of cash with them for that purpose!