- FSCS protects deposits up to £85,000 per person
About Brown Shipley
Founded in 1810, Brown Shipley is a UK authorised private bank with over 200 years of experience, and is regulated by both the PRA and FCA.
Brown Shipley is headquartered in London with offices in seven other UK cities, offering fully integrated wealth planning, investment management and banking services.
Brown Shipley is owned by Quintet Private Bank, and is part of a group of boutique private banks and wealth managers operating across over 50 European cities. Being part of Quintet expands their scale and security and adds a truly global outlook to already strong foundations.
All eligible deposits made into Brown Shipley bank accounts are protected by the FSCS up to a total of £85,000 per individual.
AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.
Accrued interest is calculated daily, compounded monthly and paid gross without prior deduction of tax.
Interest is credited monthly on the last day of each month
The interest rate applicable to your deposit is variable.
Should the bank set a date to lower the interest rate, you will be given a minimum of 14 days’ notice. You may receive less notice if the rate increases.
Please review the Meteor Asset Management (MAM) Terms and Conditions for more information.
The estimated balance after 12 months on a deposit of £1,000 is £1,006.10 This projection is for illustrative purposes only and does not take into account individual circumstances.
This assumes that the interest rate earned remains the same for twelve months where in reality it could increase or reduce, in which case the projection would increase or reduce accordingly.
To open this savings account, you must apply online through Raisin UK. Savings accounts at Brown Shipley are only available through this online application process, and to be eligible to apply, you must:
● Be a UK resident who is aged 18 or over
● Hold a UK bank or building society account from which you will fund your application
● Have a valid mobile phone number and email address
● Have a UK National Insurance Number
Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) check.
The minimum amount you can open and operate this account with is £1,000.
You can top up your account with the minimum amount of £500 per transaction and the maximum balance you can have is £85,000 (per product and banking institution).
You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms & Conditions.
Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.
Yes. There is no limit to the amount of withdrawals you can make; however, you are unable to withdraw less than £500 in a single withdrawal transaction and a withdrawal will not be authorised if it leaves your balance below £1,000. To withdraw below your minimum balance you may close your account at any time by requesting closure from within Raisin UK.
In the event you have requested to close your account fully, funds may be returned to your Raisin UK Account in two separate payments by MAM and can take up to two business days to be returned to your Raisin UK Account. For further information, please refer to clause 4.21 of the MAM Terms and Conditions.
If termination is received on a non business day (either weekend or public Holiday), the termination will be initiated on the next business day.
Once termination has been requested it can’t be revoked.
MAM, with their administration arm Meteor Investment Management (MIM), will administer the deposit on your behalf.
Funds will appear in MIM’s account by the following business day from funding your application at the latest. Funds will be remitted to Brown Shipley by MIM on the next business day after arriving in the MIM account.
It can therefore take up to 2 business days for an ordered product to be set up and start earning interest, and up to 2 business days for withdrawals and closures to be processed and funds received back in your Raisin UK account.
Cash and deposits will be held by MIM and MAM in trust for you under FCA client money and asset rules.
You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account. For further information, please refer to clauses 1.18 and 1.19 of the MAM Terms and Conditions.