Using your business savings account

Important

Nationwide Business Savings accounts aren't current accounts and can't be used for everyday business banking purposes.

Putting money in

Each of our Business Savings accounts starts with you making a single deposit – anywhere between £5,000 and £10 million. If you choose an Instant Access Saver account or a Notice account, you can continue making deposits up to the maximum of £10 million. If you opt for our Fixed-rate Deposit account, you can only make an initial deposit.

Taking money out

How and when you withdraw money depends on the type of account you’ve chosen:

Business Instant Saver accounts

  • Withdraw as often as you like – but each withdrawal must be at least £500
  • Use our signed withdrawal form – you can email, post or fax this
  • Get your money the same working day if we receive the instruction before 3pm (excludes Bank Holidays)
  • Only Authorised Signatories (those able to sign off transactions or make decisions about the savings account) can make withdrawals to your nominated account

Business Notice accounts

  • Give us 45 days' notice (for 45 day notice accounts) or 95 days' notice (for 95 day notice accounts) that you’d like to withdraw your money. Each withdrawal must be at least £500.
  • Notice starts on the day we receive your instruction, so long as we get it before 4pm. If we receive a notice when our office is closed (or after 4pm on a working day), we’ll process it the next working day. If your notice expires on a day when our office isn’t open for business, we’ll action your withdrawal the next working day.
  • Use our signed withdrawal form – you can email, post or fax this.
  • Only Authorised Signatories (those able to sign off transactions or make decisions about the savings account) can make withdrawals to your nominated account. 

Business Fixed Rate accounts

  • No withdrawals allowed until the account matures
  • You get a maturity options form 14 days prior to the maturity of your account
  • As long as we’ve received your instruction, you’ll get your money on its maturity date
  • If we don’t hear from you when your account matures, we’ll move your money into a Maturity Reserve Account* until we receive further instruction.

*Our instant access Maturity Reserve Account earns a variable rate of interest, paid annually. We’ll send statements to you to let you know what this rate will be.

Account statements

Business Instant Saver / Business Notice accounts

You’ll get an annual statement every April showing the interest your savings have earned. We’ll also send you a monthly statement if there have been any transactions on your account during any given month. You can also contact us to request a one-off statement.

Fixed accounts

You’ll get a statement when your fixed term ends and your account matures.

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