Shawbrook ISA maturity - fund available date

mjstephens2001

Hi,
I have a fixed ISA maturing with Shawbrook on the 6th August. We're using the matured funds to partly buy a van, and are planning on flying to collect the van once we have the money.
It's too early to choose maturity options but I wanting to book flights etc and we're short on time slots to travel. 
If the ISA is maturing on the 6th, can anyone clarify when I'll be able to access the funds? For example, will it be on the 6th, or does it mature on the 6th and I can access the funds on the 7th? 
TIA

refluxer

The 'Terms and Conditions' section at the bottom of the Summary Box document for my last Shawbrook fixed rate cash ISA said the following...

If the end of the fixed-term falls on a non-working day, your funds will be made available on the next working day provided you have given us a withdrawal instruction prior to maturity.

This implies to me that your funds will be available on some point on the day of maturity if it falls on a weekday or the following Monday if it matures over the weekend so if your ISA matures on Tuesday 6th August, then the money should be available the same day - however, if the timing is critical, I would first check your own T&Cs and then get this confirmed by Shawbrook before you book any flights. Also bear in mind that you won't know what time the payment will arrive on the 6th and that there's no way of knowing how long the payment will take for both banks to process, so there might be a chance that the payment could push over into the 7th.

If I was in your position, I'd probably play it safe and wouldn't cut it too fine (eg. go for the 8th) if you didn't have emergency funds that would cover any unexpected delays if you booked for the 7th. Best to get something in writing from Shawbrook either way though.

Note that I don't have any personal experience in closing a Shawbrook ISA and withdrawing funds - I've only ever transferred to another cash ISA, either internally or externally.

slinger2

I also don't have any personal experience in closing a Shawbrook ISA. For the 45 day notice (non-ISA) account "funds will credit your nominated account on the next working day following the date of withdrawal." but whether it's the same for you?

refluxer

Thinking about it, Shawbrook do seem to be a 'next working day' type of bank so I'm starting to think that my inference that the funds might be paid out on the same day if it's a working day (from the T&C quote above) may not be correct.