Shawbrook Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Shawbrook Bank suits savers who want quick access to their money rather than the highest rate in the field. Its easy-access account pays a variable 2.7% and charges no monthly fee, while deposits sit under FSCS up to GBP 85,000 and money can be moved out online whenever you want.
Key facts
- Best for
- Emergency funds and short-term saving where access speed matters more than the highest rate.
- Headline rate
- 2.7%↗
- Rate type
- Variable↗
- Minimum deposit
- £1,000↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Next working day access to linked account, withdraw online any time with no limit, minimum withdrawal GBP 1↗
- Monthly fee
- £0↗
- Account kind
- Easy access↗
- Legal entity
- Shawbrook Bank Limited↗
- Headquarters
- United Kingdom↗
- Founded
- 1988↗
- Support channels
- Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- shawbrook.co.uk
Facts checked September 26, 2026, 4 sources
Apps and profiles
Pros and cons
Pros
- No monthly fee on the easy-access account, at £0
- Money in a linked account transfers over on the next working day, and withdrawals can be made online whenever you want
- Variable rate of 2.7% that can move with the market
- Deposits covered by FSCS up to GBP 85,000
Cons
- The variable rate of 2.7% sits below the 4.15% of comparable accounts
- A minimum deposit of £1,000 puts the account out of reach for small savers
- Support runs on phone and help centre only
Who it suits
- Savers keeping an emergency fund they can reach at short notice
- Customers happy with a rate that moves, since the rate is variable
- Customers who want deposit protection under FSCS up to GBP 85,000 at a named UK bank
Who should look elsewhere
- Savers whose first concern is the rate, since AXI Card Tarjeta y Credito lists 21.59% against 2.7% here
- Savers opening with a balance below £1,000
- Savers wanting a fixed rate for a set period, since the rate here is variable
Fees and FX
The easy-access account carries no monthly charge, at £0, so the only thing that costs you is the interest you earn. The barrier to opening is the minimum deposit of £1,000, which sits above the typical minimum of €0.11 across savings accounts on the site and ranks 346 on that measure.
Rates and card terms
The account pays a variable rate of 2.7%, so the figure can rise or fall with the market instead of being fixed for a term. That suits savers who expect to move money in and out, and a fixed product less so. Most accounts in this field carry a variable rate, at 79%.
How Shawbrook Bank compares
9.0 vs 8.6
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9.0 vs 9.0
9.0 vs 8.1
9.0 vs 8.7
9.0 vs 8.0
9.0 vs 9.5
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9.0 vs 9.0
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9.0 vs 8.5
9.0 vs 8.5
9.0 vs 8.4
9.0 vs 8.3
9.0 vs 9.0
Where Shawbrook Bank is available
- Available
- United Kingdom
- Licence in United Kingdom
- Financial Conduct Authority (204574), checked September 26, 2026
- Licence in United Kingdom
- Financial Services Compensation Scheme (FSCS), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the Shawbrook Bank easy-access account pay?+
The easy-access account pays a variable rate of 2.7%. Variable means the figure can rise or fall with market rates rather than staying put for a set term, so the interest you earn can change over the life of the account.
Is there a monthly fee to hold this account?+
There is no monthly charge on the account, at £0, so holding it costs nothing beyond the interest you earn. The median monthly fee across savings accounts on the site is €0, so a charge of this kind is rare in the category.
How much do I need to deposit to open it?+
The minimum deposit is £1,000. That is well above the €0.11 typical across savings accounts on the site, so the account suits savers who already hold a balance they are comfortable leaving in place.
Is my deposit protected and who regulates the bank?+
Deposits are covered by FSCS up to GBP 85,000, the Financial Services Compensation Scheme. Shawbrook Bank Limited is authorised and regulated in the UK by the Financial Conduct Authority under reference 204574, and the account is held directly with the bank.
How do I get help if something goes wrong?+
Support runs on phone and help centre, so a phone line and an online help centre. Email and live chat are not listed among the channels, which matters if you prefer to keep a written record of what was said to you.
What kind of savings account is this?+
It is an easy-access account, the kind most of the field offers, at 76.7%. Money stays available rather than being tied up, unlike the fixed accounts that make up 17.2% of savings accounts on the site.
Sources
- en.wikipedia.org/wiki/Shawbrook_Bank checked September 26, 2026
Backs: Founded
“Founded 1988”
- shawbrook.co.uk/savings checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Pricing model, Monthly fee, Licences
“Registered Office: Floor 10, 40 Leadenhall Street, London, EC3A 2BJ.”
- shawbrook.co.uk/savings/contact-us checked September 26, 2026
Backs: Support channels
“Most customers get what they need from our help sections or by sending a secure message from their account. You can call our savings team on 0345 266 6611.”
- shawbrook.co.uk/savings/easy-access-savings-accounts/easy... checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“You can request to withdraw your money online at any time, and there is no limit on how often you withdraw; the minimum withdrawal amount is GBP 1; you should receive your funds into your linked...”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.
Related by the facts
Shawbrook Bank
Emergency funds and short-term saving where access speed matters more than the highest rate.