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Using your business savings account

Information:

Nationwide Business Savings accounts aren't current accounts. You can't use them for everyday business banking purposes.

Putting money in

Each of our Business Savings accounts starts with you making a single deposit. This can be between £5,000 and £10 million.

For an Instant Access Saver or Notice account, you can continue making deposits up to the maximum of £10 million.

For our Fixed-rate Deposit account, you can only make an initial deposit.

Our Business savings accountsPaying into your Savings account

Taking money out

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

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How to withdraw money with your different account types
Account type How to withdraw money
Business Instant Saver accounts
  • You can withdraw as often as you like, but each withdrawal must be at least £500
  • Use our signed withdrawal form (PDF, 84KB) which you can email, post or fax
  • Use our DocuSign withdrawal form (opens in a new window) which you can complete and sign online
  • Get your money the same working day if we receive the instruction before 3pm. This excludes Bank Holidays.
  • Only Authorised Signatories can make withdrawals to your nominated account. Authorised Signatories are those able to sign off transactions or make decisions about the savings account.

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 request a one-off statement by contacting us

Business Notice accounts
  • Please give us the below notice that you’d like to withdraw your money. Each withdrawal must be at least £500.
    • 35 days' notice (for 35 day notice accounts)
    • 45 days' notice (for 45 day notice accounts)
    • 95 days' notice (for 95 day notice accounts)
    • 125 days' notice (for 125 day notice accounts)
  • Notice starts on the day we receive your instruction, so long as we get it before 4pm.
  • We'll process your notice the next working day if we receive an active or expiring notice after we've closed our office or after 4pm on a working day.
  • Use our signed withdrawal form (PDF, 84KB) which you can email, post or fax.
  • Use our DocuSign withdrawal form (opens in a new window) which you can complete and sign online
  • Only Authorised Signatories can make withdrawals to your nominated account. Authorised Signatories are those able to sign off transactions or make decisions about the savings account.

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 request a one-off statement by contacting us

Business Fixed Rate accounts
  • No withdrawals allowed until the account matures
  • You get 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.

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

*Our instant access Maturity Reserve Account earns a variable rate of interest, which you will receive as an annual payment. We’ll send statements to you to let you know what this rate will be.

Need this information as a PDF?

Using your Business Savings account

Here’s everything thing you need to know about our Business Instant Access, Notice and Fixed Rate accounts.

How to use business accounts - PDF, 72KB

Using your Corporate Savings account

Here’s everything you need to know about our Corporate Instant Access, Notice and Fixed Rate accounts.

How to use corporate accounts - PDF, 66KB