How to withdraw funds from your account
Transaction accounts
Notice accounts
Rules on electronic transfers
Withdrawal restrictions
Payment information
View our latest charges sheet here
Transaction accounts
Unless otherwise stated in the account-specific terms, funds can be paid from an account in any of the following ways:
Electronic transfer in sterling to a UK bank or building society
The amount to be transferred will be debited from the account on the working day we are treated as having received the instruction (even if your instruction is not processed until the next working day because we received it after the relevant cut off times). Provided we receive the instruction by 2:30pm on a working day (or 3:00 in the case of instructions given using Online Banking), the funds will be received into the payee’s bank on the same working day.
If we receive the instruction after 2:30pm on a working day (or after 4:30pm in the case of instructions given using Online Banking), or on a day that is not a working day, the funds will be transferred on the next working day.
We will use the Faster Payments Service to process payments provided:
- the payment is below our payment limit for the Faster Payment Service (currently £100,000); and
- the receiving bank is a member of the Faster Payments scheme.
If these conditions are not met, we will send the payment by CHAPS, A charge may apply in these circumstances. Please refer to the Charges Sheet for details.
Electronic transfer to another account held with us
- Provided we receive the instruction by 4:30pm on a working day, the funds will be received into the other account on the same working day.
- If we receive the instruction after 4:30pm on a working day, or on a day that is not a working day, the funds will be transferred on the next working day.
Electronic transfer in a foreign currency (provided we make payments in that currency)
- Please call us for information about the currencies we make payments in and how long it will take for the money to be transferred.
By cheque drawn on the account (where the account has a cheque book)
- We will treat a cheque drawn on an account as being out of date six months after the date on the cheque. If the cheque is presented to us for payment after then, we will return the cheque to the collecting bank unpaid with the notice “out of date”.
By standing order
- Money paid by standing order will be debited from the account on the date you agree with us or, if this is not a working day, on the next working day.
By direct debit
- Money paid by direct debit will be debited from the account on the date you agree with the originator (payee) of the direct debit or, if this is not a working day, on the next working day.
Notice accounts
Unless otherwise stated in the account-specific terms, funds from a notice account can be paid in any of the following ways:
Electronic transfer in sterling to a UK bank or building society
Funds will be received into the payee’s bank on the day that the notice period expires. If this is not a working day, the funds will be transferred on the next working day.
We will use the Faster Payments Service to process payments provided:
- the payment is below our payment limit for the Faster Payment Service (currently £100,000); and
- the receiving bank is a member of the Faster Payments scheme.
If these conditions are not met, We will send the payment by CHAPS, A charge may apply in these circumstances. Please refer to the Charges Sheet for details;
Electronic transfer to another account held with us
- Funds will be received into the other account on the day that the notice period expires. If this is not a working day, the funds will be transferred on the next working day.
Electronic transfer in a foreign currency (provided we make payments in that currency)
- Please call us for information about the currencies we make payments in and how long it will take for the money to be transferred.
Notice received by post, fax or using Online Banking to withdraw funds from an account by 5:30pm on a working day will be treated as having been received on that working day. In all other cases notice will be treated as having been received on the next working day.
Download the notice withdrawal form here
Rules on electronic transfers
Notice accounts and fixed term deposits
- Unless otherwise stated in the account-specific terms, electronic transfers can only be made to another account in your name (or in the case of an account that is held by more than one of you, transfers can be made to another account held in either of your names).
- Notice accounts are not subject to the payment limit in electronic transfers using Online Banking.
Transaction accounts and structured deposit accounts
- Unless otherwise stated in the account-specific terms, electronic transfers can be made to an account in your name or in the name of another person.
- Where you wish to instruct us to transfer funds to an account in the name of another person, you must give us your instructions by post or using Online Banking.
- We will only accept fax instructions to transfer funds to an account in the name of another person if that person is a UK solicitor.
All accounts
- Where you hold money in the account as trustee, as agent or in a similar legal capacity, the account to which the money is to be transferred must be held by you for the benefit of the same underlying beneficiary/ies.
Withdrawal restrictions for notice accounts, fixed term deposits and structured deposit accounts
Notice accounts
- The account-specific terms set out the amount of prior notice you must give us in order to withdraw funds from the account.
Fixed term deposits and structured deposit accounts
- No withdrawals are permitted during the deposit term set out in the account-specific terms.
We will only consider whether to allow withdrawals from a notice account, fixed term deposit or structured deposit account on shorter notice, or before the end of the deposit term or the payment date, where you are able to demonstrate to us that exceptional circumstances apply which directly affect your personal or business financial situation. Even in these circumstances we are not obliged to agree to allow an early withdrawal.
If in exceptional circumstances we do allow an early withdrawal, we can apply a charge for agreeing to this. In the case of notice accounts, please refer to the charges sheet for more information. In the case of fixed term deposits or structured deposit accounts, the account-specific terms will confirm what charge is payable.
Payment information
The payment information you must give us in order for the funds to be transferred by electronic transfer in sterling or by standing order is as follows:
- The sort code of the bank or building society to which the funds are being transferred
- The account number of the account to which the funds are being transferred
- The account name
- The name of the bank or building society to which the funds are being transferred should also be included
The payment information you must give us in order for the funds to be transferred by electronic transfer in a currency other than sterling is as follows:
- The Bank Identifier Code (BIC) of the bank to which the funds are being transferred
- Where this is available, the International Bank Account Number (IBAN) of the account to which the funds are being transferred, or in all other cases the account number of the account to which the funds are being transferred
- The account name
- The name of the bank to which the funds are being transferred should also be included in the instruction
