Shawbrook Bank Tips!

printedinuk

Edited in light of comments from other users, to make it more useful.  Things to know about Shawbrook Bank:-

• Everything seems to run at snail's pace - don't expect to do anything quickly!
• Withdrawals (without using a secure message to customer services) are only possible via online banking if you have a nominated account setup.  If you don't have the option to withdraw funds, it probably means that a nominated account is not set up or it has failed verification - best to resolve the nominated account issue first before attempting to withdraw, otherwise it would probably just fail.
• Their manual nominated account verification process is very, very slow.
  
• I (personally) had a very negative experience trying to submit documentation to verify the nominated account when it failed automatic verification (refused documentation without any explanation). I'd recommend just using an alternative account, if you can.

Expotter

I haven't had any issues with withdrawals, yes they are quite slow ( next working day when requested before 2:30, after this time it's processed the next working day and available in your account the working day after that), but that is all in their information pages. And I've always been able to request a withdrawal online.

printedinuk

Expotter said:

I haven't had any issues with withdrawals, yes they are quite slow ( next working day when requested before 2:30, after this time it's processed the next working day and available in your account the working day after that), but that is all in their information pages. And I've always been able to request a withdrawal online.

Hmm, must be just me then, I guess?  Just to clarify, though - when you say you've always been able to request a withdrawal online, do you mean send a secure message or use an automated request process?

Daliah

MSE simply lists accounts based on the interest rate. There is no assessment on usability / customer service / business processes / modernity or otherwise of IT systems. Most of these would be subjective, anyway.

It seems Shawbrook is not for you but they have plenty of satisfied customers, including myself on and off, when they have the best rates in the market. I just opened another ISA with them only yesterday. I am quite happy to live with their quirkiness if they offer me the best rates. I also have never had any trouble getting my money out on the day I expected to get it out. It seems you have been exceptionally unlucky with them but there are a wealth of other companies offering savings accounts - better luck with your next one.

EthicsGradient

MSE do not "recommend"; they list the highest paying accounts. Feelings and feedback about how accounts operate are pretty subjective. If any organization were to do an objective assessment of the usability of accounts, it'd take so long the competitive interest rate lists would be out of date.

Expotter

printedinuk said:

Expotter said:

I haven't had any issues with withdrawals, yes they are quite slow ( next working day when requested before 2:30, after this time it's processed the next working day and available in your account the working day after that), but that is all in their information pages. And I've always been able to request a withdrawal online.

Hmm, must be just me then, I guess?  Just to clarify, though - when you say you've always been able to request a withdrawal online, do you mean send a secure message or use an automated request process?

No messaging required, just through their online banking.

printedinuk

Daliah said:

MSE simply lists accounts based on the interest rate. There is no assessment on usability / customer service / business processes / modernity or otherwise of IT systems. Most of these would be subjective, anyway.

It seems Shawbrook is not for you but they have plenty of satisfied customers, including myself on and off, when they have the best rates in the market. I just opened another ISA with them only yesterday. I am quite happy to live with their quirkiness if they offer me the best rates. I also have never had any trouble getting my money out on the day I expected to get it out. It seems you have been exceptionally unlucky with them but there are a wealth of other companies offering savings accounts - better luck with your next one.

That's not quite the case - while that might be the overall strategy, MSE often warns of accounts/services where the process is difficult or unusual or where there have been reports of customer service issues - that's the entire point of my post, to gauge whether this is an isolated incident or typical of their service.  That said, I guess Shawbrook is no different to any of a number of other savings providers who have "quirky" websites, as you say.

Using an alternative provider is exactly what I'm trying to do but it's a bit difficult if I can't get my money out!

printedinuk

Expotter said:

printedinuk said:

Expotter said:

I haven't had any issues with withdrawals, yes they are quite slow ( next working day when requested before 2:30, after this time it's processed the next working day and available in your account the working day after that), but that is all in their information pages. And I've always been able to request a withdrawal online.

Hmm, must be just me then, I guess?  Just to clarify, though - when you say you've always been able to request a withdrawal online, do you mean send a secure message or use an automated request process?

No messaging required, just through their online banking.

OK, that's very strange - that option is simply not available to me and when I queried it with the staff (by telephone), they said I have to telephone them or send a secure message.

Expotter

It is strange. In my account, when you look at  My Accounts there's a quick links box with an option to withdraw money

Daliah

printedinuk said:

Expotter said:

printedinuk said:

Expotter said:

I haven't had any issues with withdrawals, yes they are quite slow ( next working day when requested before 2:30, after this time it's processed the next working day and available in your account the working day after that), but that is all in their information pages. And I've always been able to request a withdrawal online.

Hmm, must be just me then, I guess?  Just to clarify, though - when you say you've always been able to request a withdrawal online, do you mean send a secure message or use an automated request process?

No messaging required, just through their online banking.

OK, that's very strange - that option is simply not available to me and when I queried it with the staff (by telephone), they said I have to telephone them or send a secure message.

I am guessing - could this be because you don't have a nominated account set up?

It's many years since I first set up a Shawbrook account so I can't remember the details but I am still using the current account I used then, and it pops up automatically as the nominated account on new applications.

Daliah

printedinuk said:

Daliah said:

MSE simply lists accounts based on the interest rate. There is no assessment on usability / customer service / business processes / modernity or otherwise of IT systems. Most of these would be subjective, anyway.

It seems Shawbrook is not for you but they have plenty of satisfied customers, including myself on and off, when they have the best rates in the market. I just opened another ISA with them only yesterday. I am quite happy to live with their quirkiness if they offer me the best rates. I also have never had any trouble getting my money out on the day I expected to get it out. It seems you have been exceptionally unlucky with them but there are a wealth of other companies offering savings accounts - better luck with your next one.

That's not quite the case - while that might be the overall strategy, MSE often warns of accounts/services where the process is difficult or unusual or where there have been reports of customer service issues - that's the entire point of my post, to gauge whether this is an isolated incident or typical of their service.  That said, I guess Shawbrook is no different to any of a number of other savings providers who have "quirky" websites, as you say.

Using an alternative provider is exactly what I'm trying to do but it's a bit difficult if I can't get my money out!

It would be totally unusual for MSE to opine on the operation of a given account. The only examples I can think of  where they might do it is if a company is about to go bust. And they have their regular voodoo poll for current accounts which First Direct always wins.