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Putting Money Into Shawbrook and FSCS Limits

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jaceyboy
jaceyboy Posts: 245 Forumite
100 Posts Second Anniversary Name Dropper Photogenic
edited 19 June 2023 at 8:42PM in Savings & investments
Does anyone know the best time of day to put money across into Shawbrook? seems to take them age to receipt funds into the account, also I have £40k in an ISA with them, my wife has £20k, and we have £78k in our joint savings account, am I at risk of losing funds if they go under?

Thank you

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  • TheBanker
    TheBanker Posts: 2,217 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    The £78k is split 50/50 for FSCS purposes so £39k each.
    That means you have £79k in total (£39 + £40). Your wife has £59k. So no problem with FSCS limits at the moment. 
  • jaceyboy
    jaceyboy Posts: 245 Forumite
    100 Posts Second Anniversary Name Dropper Photogenic
    Great thank you
  • ranciduk
    ranciduk Posts: 719 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I generally transfer money to Shawbrook around 10am

    i then get a text about 1:30pm from Shawbrook conforming they have received my money 


  • jaceyboy
    jaceyboy Posts: 245 Forumite
    100 Posts Second Anniversary Name Dropper Photogenic
    ranciduk said:
    I generally transfer money to Shawbrook around 10am

    i then get a text about 1:30pm from Shawbrook conforming they have received my money 


    Thanks, i just read their terms and conditions and seems you need to send funds before 15:30 otherwise you dont see funds credited until next working day and also dont start earning interest!
  • ranciduk
    ranciduk Posts: 719 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    It’s not the best if you want ultra speedy transfers in and out 

    not an issue for me personally 
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