Shawbrook Bank Tips!

printedinuk

Daliah said:

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.

I think I do have a nominated account set up (I did from the start, supposedly), but yes, perhaps it's not actually set up.  It's irrelevant now anyway - my funds have disappeared into thin air now - not in my account, not in a pending payment, not in my nominated account and nobody in Shawbrook seems to be able to tell me where they've gone.  Ah well, just bad luck, I guess!

InvesterJones

While some people might like app-only, ultra-automated approaches, others prefer a more human-based approach. Both have their advantages and disadvantages and it's great that we have the choice. Poor service either way is right to be highlighted though of course - fingers crossed it gets resolved soon. In some other services (not this bank) I've seen a failed transaction seemingly lose the money but it always appeared a few days later when various blocks or whatever expired.

printedinuk

Daliah said:

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.

Fair point - I think I was confusing this with the energy companies who often have customer service ratings against them.  Plus, the bigger issue is that my experience appears to be isolated, so there really isn't a wider warning to be made!

S_uk

Hopefully your issue gets sorted out soon, but based purely on my own experiences I can only say I've been happy with them in the past when I used them. When I've opened easy access accounts they've always been opened and everything set up instantly and I've had confirmation through very quickly. I've had ISAs with them in the past and they've transferred in ISAs in just a few days each time. The downside was that the withdrawals weren't instant, but then I was willing to accept that (along with other providers like Ford etc) as they had some of the highest interest rates at the time. If they offered a higher rate than I'm getting with Zopa then I wouldn't have any hesitation in transferring my savings to them again.

cloud_dog

printedinuk said:

Daliah said:

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.

I think I do have a nominated account set up (I did from the start, supposedly), but yes, perhaps it's not actually set up.  It's irrelevant now anyway - my funds have disappeared into thin air now - not in my account, not in a pending payment, not in my nominated account and nobody in Shawbrook seems to be able to tell me where they've gone.  Ah well, just bad luck, I guess!

Overall I am a satisfied customer of Shawbrook.

Having said that there have been times when they have experienced service issues usually caused by increased demand, that can happen to any organisation.  I have experienced what @printedinuk has encountered.  An account was 'upgraded' to the latest issue to receive the increased interest rate.  Something was not completed correctly because the 'Withdrawal' menu option never listed the 'new' account in the drop-down so money could not be withdrawn.  It was a frustrating time, and eventually I submitted a formal complaint.  The issue was resolved and Shawbrook offered a token in compensation.

pearl123

I've been with Shawbrook for a few years. A fairly plain website, which gets the  job done. You might have to wait until the following day for you money to turn up.

Albermarle

pearl123 said:

I've been with Shawbrook for a few years. A fairly plain website, which gets the  job done. You might have to wait until the following day for you money to turn up.

I think this days delay is common for a lot of the smaller savings institutions as they are not clearing banks, and they actually have their bank account with Barclays, Nat West et al

Millyonare

Yes, Shawbrook is like a throwback from the 1980s. No app, clunky website, and it can take days to get money in or out.

printedinuk

Albermarle said:

pearl123 said:

I've been with Shawbrook for a few years. A fairly plain website, which gets the  job done. You might have to wait until the following day for you money to turn up.

I think this days delay is common for a lot of the smaller savings institutions as they are not clearing banks, and they actually have their bank account with Barclays, Nat West et al

I believe so (RBS in their case) - I wouldn't mind the next day thing if everything else worked, so that the next day delay was the only delay!

Albermarle

Millyonare said:

Yes, Shawbrook is like a throwback from the 1980s. No app, clunky website, and it can take days to get money in or out.

For a savings account, many of which remain untouched for long periods, an app is not really necessary/a deal breaker.
However a smooth website and money in /out within 24 hours during weekdays is important.