Shawbrook ISA



  • Update: Charter bank ISA is fine. Their online form specifies you only need to be resident at current address for 6 months. If it's less, they allow you to give a non-UK address. (Not that I needed to, but it might be useful for others newly-returned to the UK to know.)

    Much more sensible.
  • eskbanker
    eskbanker Posts: 30,786 Forumite
    First Anniversary Name Dropper Photogenic First Post
    JJ606 said:
    eskbanker said:
    35har1old said:
    eskbanker said:
    JJ606 said:
    it came about because during the online application, you have to input your address details. It only accepts UK post codes. Unless you can use UK postal address, you can't proceed with the form. There's no other way to enter an address.

    So I phoned, and that's what I was told. 'Company policy' to require residence for minimum of 3 years. They confirmed it's not a government rule about ISAs.

    I was living elsewhere, in the EU, at the time. Had nevertheless been paying UK tax. Had a UK bank account. Am UK citizen.
    You certainly need to be resident in the UK to open an ISA, and it's pretty much standard for UK-based financial institutions (certainly Shawbrook) to require current UK residency for their other products too, so if you weren't compliant with that fundamental requirement then I'd take the verbal reference to three years residency with a large pinch of salt.

    If you try to open a (non-credit) savings account with a UK financial institution once you do reside here, and are told that you need three years residency, then please come back and share something verifiable about that....
    Your are usually asked for your previous address if your have only moved to the address in the past 3 is to help to prove ID
    Yes, but that doesn't necessarily equate to needing those three years all to be as a UK resident, when applying for non-credit products such as cash ISAs....
    Just to clarify...
    I am now living in the UK again (for past 6 months). I have, and always have had, even during my time abroad, a UK bank account (with the same bank) which has always shown my correct address, wherever I was living at the time I never tried to apply for an ISA while non-resident, as I know it's not allowed. I also have paid UK tax (by self-assessment reporting to HMRC) each year while abroad and continue to do so now I'm back in the country. All of this is verifiable, if Shawbrook want to check.

    I tried to apply for the ISA 2 days ago. I came a cropper because of the requirement to give current address (which is obviously in the UK) and then, if not been living there for 3 years, to list previous address(es) that will cover the preceding period up to 3 yrs.

    At that point, the online form has no way of inputting a non-UK address, so you can't continue.

    On telephoning Shawbrook, I was told it was company policy that without 3 years worth of UK addresses, they wouldn't allow me to invest in the ISA product. Nor any other of their accounts/products. I explained all the facts about my UK residency, UK tax status, UK citizenship... but these are not enough, without the 3 years continuous residency, to allow me to invest in their ISA.

    I'll try other banks, and see if it is a widespread policy.
    Ah right, I understand what you're saying now - the bolded wording above implied to me that you were living abroad at the time of applying, but it's now clear that you were applying as a UK resident and couldn't register a previous address.

    I agree that if this is Shawbrook policy then it should be published accordingly, so when their Ts & Cs (like most) state that you must be a UK resident, it wouldn't be difficult for them to clarify that you must have been one for the previous three years.

    Glad you're now sorted elsewhere....
  • Not strictly on the same topic but don't think this is worth opening a thread for.

    How long is it usually before Faster Payments show up on your Shawbrook online account?
Meet your Ambassadors


  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235K Work, Benefits & Business
  • 607.7K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards