Withdrawing with Faster Payments
Payment timescales| Cut-off time | When the payment will be received |
|---|
| 8pm on a business day | For payments before the cut-off time: Your payment will usually arrive within two hours. The latest your payment will arrive is by the end of the next business day.
For payments after the cut-off time: Your payment will be sent at 9am on the next business day, and will usually arrive within two hours of this time. The latest your payment will arrive is by the end of the next business day. The payment will be deducted from your savings account for the purposes of calculating interest from the time you instruct the payment to be withdrawn.
For payments made by post: The execution times above will start from when we have received your postal instruction. We may also need to undertake certain security checks for postal instructions, which may also delay the start of the execution times.
|
Ways to withdraw
In branch
If your account allows withdrawals in branch, you can request a Faster Payment in any of our branches by completing a Faster Payment Authorised Bank Details Form and handing the form to us in branch. When you do this, you're able to withdraw up to a maximum of £100,000 to an account held in your name. Requests for any amount higher than £100,000 will be sent to our Head Office for withdrawal by CHAPS.
Faster Payment Authorised Bank Account Details Form [PDF]
Online or in the App
You can request up to £100,000 to a UK bank or building society account in your name as long as you've set up a nominated account in Skipton Online. A nominated account must be a UK bank or building society account in your name, we will not make an electronic payment to any other type of account. Any withdrawal requests made online after 8pm, or on a non-business day, will be processed the next business day (please note, Saturdays, Sundays and Bank Holidays are not business days).
Log in to Skipton Online and select 'Withdraw' next to the relevant account and follow the instructions.
You can also transfer via our Skipton App. Log in to the app and select the account you want to withdraw from then follow the instructions. You will need to have set up a nominated account in Skipton Online first.
Online withdrawals by Faster Payment over £30,000 need authorisation. To do this, please call us on 0345 850 1722 within five days of your online withdrawal request. We will not process your request until you have completed this step.
Over the phone
You can request up to £100,000 to a UK bank or building society account in your name as long as you've set up telephone access. Any withdrawal requests made over the phone after 8pm, or on a non-business day, will be processed the next business day (please note, Saturdays, Sundays and Bank Holidays are not business days).
To set up telephone access you'll first need to complete the Faster Payment Authorised Bank Account Details Form. We'll then send further details in the post for you to complete and return to set up telephone access.
Please note if you have not set up telephone access then you will not be able to withdraw funds over the telephone.
Faster Payment Authorised Bank Account Details Form [PDF]
By writing to us
You can request up to £100,000 to a UK bank or building society account in your name by completing a Faster Payment Withdrawal Form and send it to us, to:
Savings Operations
Skipton Building Society
Principal Office
The Bailey
Skipton
BD23 1DN
Faster Payment Withdrawal Form [PDF]
Alternatively request a CHAPS payment
You can request to send up to £1,000,000 the same business day, subject to restrictions. Find out more on our CHAPS payments page.
