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 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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