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Withdrawal timescales

   Amount to be withdrawn (request received by 1.15pm)
Up to £10,000 Over £10,000 under £100,000 £100,000 and over
(bank transfer)
All branch requests
same day next working day within 3 working days
Telephone or online request:
withdrawal to nominated bank account
same day next working day within 3 working days
Telephone or online request:
withdrawal to any other bank account
next working day within 3 working days within 4 working days

Any withdrawal requests received on a non-working day (i.e., a weekend, bank holiday or public holiday) will be processed the following working day.

CHAPS payment instructions will be carried out on the specified business day providing the request is received by 1.15pm. Payments sent by CHAPs will be received in the destination bank account on the same day it is processed. Instructions received after 1.15pm will be processed the following business day. CHAPS payments currently incur a £10 charge.

Nominated and elected accounts

A nominated account is a third party UK Bank/Building Society current account in your name that has been registered and verified by us as a destination for withdrawals.

An elected account is any current account held in your name other than your nominated account that you use to have your savings interest paid to. You may only use an elected account as a destination for withdrawals if the Terms and Conditions of the product you have allow it.

FAQs about nominated and elected accounts

How to request a withdrawal

You can write to Head Office requesting a withdrawal of cleared funds by cheque or bank transfer subject to the terms and conditions of your account. Please make sure that you quote your account number and include your passbook if you have one.

If you have a branch or postal account, withdrawals can be made by cheque or bank transfer to another account. Cheques will only be sent to the address recorded for the account. Money transferred to another account will arrive in the recipient’s account within three working days of the withdrawal date.

If you have online access, you can log on and make a withdrawal from an account opened online or from a postal account. You will not be able to make an online withdrawal from a branch-based account.

If you make an online withdrawal request, money will only be paid by bank transfer to your nominated account. Your nominated account is the account that you provided when registering for online access.

If you are requesting a withdrawal on a notice account, you should specify if you are giving notice to withdraw the money or if you want immediate access to the funds (where this option is available in the terms and conditions of the account, and subject to the relevant early closure/withdrawal penalty).

Unless you are withdrawing from an online account where you have a nominated account please let us know which account you want your money transferred to at the end of the notice period.

If you are requesting a withdrawal on a fixed term account during the fixed term, you will incur an early closure/withdrawal penalty as stated in the account terms and conditions.

Cash withdrawals are not available for postal or online accounts.

When we receive a transfer or withdrawal request, we may contact you by telephone to confirm your instructions. We may also contact you to make you aware of our current range of savings and bond products if your marketing preferences allow. Withdrawals of cleared funds are subject to the terms of your account.

If you have a branch-based account, you can normally withdraw £500 in cash or £50,000 by cheque from passbook accounts in any one day, at any of our branches. A few days’ notice is required for cash withdrawals in excess of £500. The maximum you can withdraw in cash is £2,500.

Please note: withdrawals made by bank transfer must be to a UK Bank/Building Society account held in your name.