How can I withdraw money if I have not yet registered my nominated account?
If you have not registered your nominated account details against your account you will not be able to withdraw funds online. If you have already registered them at a branch then you will be able to withdraw funds.
How do I register my nominated account?
Your nominated account is normally registered when you open a new account online. In some cases, we will request a recent bank statement before your nominated account can be registered. If you are registering to view your existing account(s) online then you will need to add your nominated account before you can transact, unless you already have registered your nominated account in branch. To register a nominated account you will need to login and send a secure message to us using the 'Registering/Changing my nominated account' instruction containing the sort code, account name and account number (and reference if applicable) of your nominated account. We will then verify your bank details. In most instances we will be able to electronically verify your account details. However if we cannot we will ask you to provide us with a recent bank statement (no more than 3 months old). We will confirm when we have completed the registration of your nominated account details using the secure messaging facility.
When can I withdraw money and where to?
You can withdraw online by transferring money to your specified nominated account, depending on your account terms and conditions. You can also transfer funds to another Society account you hold. Withdrawals are not allowed during the first 14 days following receipt of your initial opening payment for security reasons. If you are an existing customer and your account has been open more than 14 days, then you can request a withdrawal immediately.
There is a daily online withdrawal limit of £50,000 per customer per day.
How do I withdraw to my nominated account?
Once you have logged in, select the account you want withdraw from on the homepage. Then select 'Take money out' and follow the instructions on the screen. Your funds can be sent to your nominated account or another Society account you hold. If you do not have the 'Take money out' option you will need to enter your verification code before you are able to make any withdrawals. Your verification code is sent to you by post when you register or apply for your first account on myaccounts
Withdrawals against cheques
Withdrawals against a cheque paid into your account can be made on the sixth working day after it has been deposited with us, provided we have not received notice that it has not been cleared. For example, a cheque paid in on a Monday will normally be available for withdrawal on the Tuesday of the following week. See our Savings terms and conditions for more details.
How can I see my transaction history?
You can view your account history through our online service back to 2001, if your account has been open that long! If you require your transaction history over a longer period of time, please refer to your passbook or contact us and we will be able to issue you with this information.
Can I withdraw money in a branch?
If you have opened your account online you will not receive a passbook automatically. If you want to transact in a branch on an account opened online, you will need to request a passbook by visiting your local branch. The passbook can only be issued in branch and will have to be signed before a withdrawal is completed. Please remember to bring signed identification with you, for example, a current passport or photocard driving licence so we can check your signature.
Requesting notice to withdraw
You are unable to request a withdrawal from a notice account until a period of time equal to the notice period has passed. For example, an account that requires 90 days’ notice would need 90 days from the date you put the account on notice before you can withdraw.
If you wish to make an online withdrawal from your notice account without penalty, you will need to contact us to put the account on notice. Send a secure message selecting the message subject ‘Notice to withdraw’. The myaccounts team will put your account on notice and contact you by secure message to advise the date you can close your account. You will need to log into myaccounts on the agreed date (or within 7 calendar days) to request the transfer of funds, then select 'Make Withdrawal' and follow the instructions on the screen. Your funds can only be sent to your nominated account or another Society account.
What if I need to withdraw over £50,000?
We are unable to process requests over £50,000 online. You can withdraw by cheque in branch or by requesting by post or request a CHAPS payment (there is a charge for this service, see our Savings terms and conditions). In both cases a passbook will be required.
I’ve registered my nominated account, why am I unable to withdraw funds?
If you have registered your account but when you attempt to make a withdrawal the menu option does not appear, it means there is a restriction on your account. This could be relating to the terms of the account itself or because you are operating the account on behalf of an individual (withdrawals from these accounts unless you have a registered power of attorney or Court of Protection are not permitted online). It also may be because we have protected your account due to a period of non-use, in which case we will need to carry out some additional identity checks before allowing you to carry out a withdrawal.
If you are unsure why you are unable to make a withdrawal, please send us a secure message or telephone us on 0800 988 4857.