Subject to the terms and conditions of your account, you may be eligible to withdraw funds electronically.
All payments must be to a UK bank or building society. Please note that some banks and building societies may be unable to accept payments through the Faster Payment or CHAPS payment methods. You can check if the recipient account is eligible by using the sort code checker at www.paymentscouncil.org.uk
The Faster Payments Scheme is a method of transferring money electronically between accounts. Faster payments can be made from Skipton accounts up to the value of £100,000. If the value exceeds £100,000, the payment will be processed as a CHAPS payment.
To set up a faster payment for online accounts you need to:
- Login to Skipton Online
- Underneath the selected account, on the right-hand side select ‘Withdraw’ and follow the instructions on screen
Any online requests that are received before the payment cut-off time of 8pm on a working day will arrive in your nominated account no later than midnight of the next working day. Any requests received after 8pm or on a non-working day will be processed on the next working day.
If total payments from your account exceed £50,000 on any day you will be asked to get in touch with us by phone to proceed with your withdrawal. Your request will not be processed until you have completed this step.
Please note if you are transferring into an external bank or building society account it must be a nominated account. You can set up a nominated account as part of the paying out process described above. Alternatively, you can select ‘Bank Accounts’ from the ‘My Account’ menu down the left-hand side of your Skipton Online account.
For branch-based accounts, Faster Payments can be set up by completing the Faster Payment Authorised Bank Account Details form.
We allow Faster Payment withdrawals up to a maximum of £25,000 (subject to account withdrawal restrictions) through our branch network. If you require a withdrawal larger than £25,000 please write to us at our Principal Office using the address at the bottom of this page or, if you have set up telephone access you can call Skipton Direct.
Any withdrawal requests made over the phone after 8pm will be processed the next working day.
If you require a guaranteed same day payment you can request a CHAPS payment by visiting your local Skipton branch or by writing to us at the address below. If you have registered for telephone access you can also contact Skipton Direct. If your payment is to a third party payee, we will also require the third party payee’s name and address, not the bank address.
Payments over £100,000 made online will automatically be processed using CHAPS and you will be asked to get in touch with us by phone to proceed with your withdrawal. If you wish to request a CHAPS payment for £100,000 or less you need to send us a secure message on Skipton Online providing the details of the account you wish to transfer to. Please note we can't accept third party details when processing CHAPS online and the account you're sending funds to must be your own.
Any online requests for CHAPS payments that are received before the payment cut-off time of 3pm will arrive in your nominated account on the same day providing you have got in touch with us by secure message (or by phone for payments over £100,000) before this time. Any requests received after 3pm will be processed the next working day.
If you request your CHAPS payment in branch, we will need to see a piece of signed photographic ID for you, such as a passport or driving licence unless you are sending the funds to the account held in your name and address.
Any requests that are received before the payment cut-off time of 3.30pm will arrive in your nominated account by close of business that day dependant on the receiving bank's processing times. Any requests received after 3.30pm will be processed the next working day.
Please note that for branch-based accounts there is an administration charge of £6.00 for a CHAPS payment, which can be deducted from your account or paid in branch upon the CHAPS payments being requested.