Using your business savings account

Putting money in

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

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*
Only Authorised Signatories** 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 - but 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** can make withdrawals to your nominated account.

*Excludes Bank Holidays

**Authorised Signatories are those able to sign off transactions or make decisions about the savings 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 you statements 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.