Shawbrook Bank - Proof of Income / Bank Accounts

chaotic_j

Hi,

My mum applied for an easy access savings account with Shawbrook Bank as shown near the top of the MSE best buy tables. After waiting some days she heard absolutely nothing from them.

Called and now they have emailed her saying as she is a Homemaker with a certain level of income (quoted the highest level of the income band selected during the application), they want proof of her income and details of her bank accounts. Her income is from dad's old pensions, her state pension etc.

This isn't something she's ever been asked for before on a savings account, is this normal? I would have thought as far as savings were concerned they should be more interested in where the savings have come from?

We are disappointed she had to call them to find out they want more information and their excuse was high levels of applications. In the meantime her savings are not generating any interest.

Thanks,
chaotic_j

xylophone

In the meantime her savings are not generating any interest.

Why ever not?

Bigwheels1111

Got to Al Ryan, 2.1% or Gatehouse 2.0%.
I have all 3 accounts not had that issue with any.
I don’t  remember what I said about job or income. 

As I don’t have both not sure what I put.
No sure they asked 

wmb194

In those circumstances better to put, 'retired.' Has the money already been transferred? If not, forget it and move on to another provider.

Bigwheels1111

wmb194 said:

In those circumstances better to put, 'retired.' Has the money already been transferred? If not, forget it and move on to another provider.

I think I must have put retired.

Albermarle

Not the only one having issues with this bank,
Trouble opening a shawbrook account — MoneySavingExpert Forum

chaotic_j

@xylophone no interest as it was withdrawn from another savings provider under notice to put into the new Shawbrook Bank account.. which they haven't opened.

@Bigwheels1111 yes, it might be worth trying another savings provider, they do seem to give a poor service and that's without the account having even been opened.

@wmb194 will bear in mind putting 'retired' in future - what is the difference though? no money has been transferred as they haven't opened the account.

@Albermarle yes there seem to be a few threads like this, doesn't seem a very good service at all, doesn't instil much confirence in them.

Daliah

Another poignant reminder that you should never put money into any account before it hasn’t been fully opened.

I am sure once your mum has furnished the requested documents, Shawbrook will credit the account on the date the money got transferred to them.

wiseonesomeofthetime

There is nothing in the OP's posts to suggest that any money has been transferred to Shawbrook yet as their mom has not yet opened the account due to the additional requirements.

In fact their latest post said "no interest as it was withdrawn from another savings provider under notice to put into the new Shawbrook Bank account.. which they haven't opened."

wmb194

chaotic_j said:

@xylophone no interest as it was withdrawn from another savings provider under notice to put into the new Shawbrook Bank account.. which they haven't opened.

@Bigwheels1111 yes, it might be worth trying another savings provider, they do seem to give a poor service and that's without the account having even been opened.

@wmb194 will bear in mind putting 'retired' in future - what is the difference though? no money has been transferred as they haven't opened the account.

@Albermarle yes there seem to be a few threads like this, doesn't seem a very good service at all, doesn't instil much confirence in them.

Unless it's an offer that cannot be refused, in that case just ignore the requests and find another account with another  provider.

'Retired' people are expected to have incomes, often very good incomes. 'Homemakers' tend to have no or low incomes. No guarantees that these questions won't arise again but it should be less likely, and actually it sounds like it's probably closer to the truth anyway.

chaotic_j

Hi, we since applied for an account with OakNorth Bank and it was opened immediately - at the end of the application process. Would not recommend Shawbrook Bank..!