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How do I withdraw money from my Business Savings Account?

POSTED: 18th October 2017
IN: Business Savings FAQs
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You can make a withdrawal in Internet Banking by clicking on the account you wish to withdraw money from. On the next page you will see a section called Account Tools in the bottom right-hand corner of the screen. This will contain a link to 'withdraw funds'. Please note this link will only be visible if the account has been funded.

Your money will be transferred to your nominated account.

What's my withdrawal allowance?

Your withdrawal allowance will depend on your account type:

Easy Access Account Unlimited
Fixed Rate Account with Access A one-off withdrawal is permitted of up to 25% of the account balance
Fixed Rate Account None permitted until maturity
Customised Fixed Rate Account None permitted until maturity

When will my money show in my nominated account?

We'll make withdrawals from your account to your nominated account by Faster Payments. Your money will be in your account by the end of the same business day, provided your instructions are submitted before 2.30pm on a business day.

If your instructions are submitted after 2.30pm on a business day, your money will be in your nominated account by the end of the following business day.

Withdrawal transfer method In your nominated account
Electronic payment Withdrawn before 2.30pm – same business day (for example, if the payment is requested before 2.30pm on a Friday, then it will be in your nominated account by close of business on the same day)
Withdrawn after 2.30pm – following business day (for example, if the payment is requested after 2.30pm on a Friday, then it will be in your nominated account by close of business on Monday)
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