Shawbrook Bank

Shawbrook Bank

Up to £50 Bonus
  • FSCS protects deposits up to £85,000 per person

All offers from Shawbrook Bank

Interest rate Term Currency

About Shawbrook Bank

Specialising in providing the UK with savings and lending products, Shawbrook Bank was founded in 2011 and as of the end of 2017 they have raised over £4.4 billion in customer deposits. Eligible deposits with Shawbrook Bank Limited in the UK are protected by the Financial Services Compensation Scheme (FSCS) up to a total of £85,000.

Bank details

Year established: 2011
Number of customers: 270000

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Who is Raisin?

At Raisin UK, we have one mission; to help you save time and make money. In Europe, Raisin has already helped over 150,000 consumers get competitive rates on their savings and now we're shaking up the UK savings market.

The Raisin UK savings marketplace is designed to provide savers with an easy way to apply, manage and fund savings products - all with attractive rates.

By registering for a Raisin UK Account, you'll only ever need to fill in one application form to enjoy simple one-click funding on a range of savings products from our partner banks.

The FSCS covers deposits in savings accounts up to £85,000, or £170,000 if you have a joint account, and investments up to £85,000 per person, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It’s available for deposits with most UK high-street and online banks and means if the bank fails and deposits become unavailable, then the scheme will cover your savings account deposit up to the £85,000 per person per banking group limit.

The FSCS will pay compensation up to the limit of £85,000 per person, per authorised institution/banking group. However, if each of the banks is covered by a single authorisation within a group, the FSCS will only pay compensation up to a total limit of £85,000 once. This limit will be for the total of all the accounts you have with the different bank brands under the authorisation, irrespective of how many different institutions a person holds accounts with.

Raisin UK will always let you know which products are within the same banking group, so you can make informed decisions as to which products are right for you.