Things to consider when withdrawing
Withdrawals are subject to account terms and conditions and there must be sufficient cleared funds in your account to cover your withdrawal.
- You can make withdrawals against electronic payments (Faster Payments and CHAPS) immediately upon receipt of the funds.
- Deposits made by debit cards must be cleared before being able to be withdrawn. This takes 3 working days from payment being made.
- Withdrawals against cheques paid into your account can be made on the fourth working day (including the day of deposit).
- For all accounts, 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.
All payments must be to a UK bank or building society account in your own name. If we’re unable to verify that the account is held in your name, we'll ask you for evidence. Evidence can be provided either in branch or via email.
Once you've provided the evidence, you can then make withdrawals to your new nominated account.
If your account was opened in branch, by post or over the phone
Ways to withdraw funds
You're able to withdraw, in branch, by post or over the phone.
Cash withdrawals can only be processed in a branch. You'll need your account passbook and can request up to a maximum of £500 in cash daily.
- You can request a cheque withdrawal in branch, over the phone (if your account allows it) or by writing to us.
- You can withdraw up to £250,000 per day for each account in branch. For withdrawals over £250,000, a cheque will be sent to you by post from our Principal Office in Skipton.
You can request a withdrawal by Faster Payments or CHAPS (subject to a fee) in branch, over the phone or by writing to us (if your account allows it). The nominated account must be a UK bank or building society account in your own name.
Faster payments allow transfers of up to £100,000. The faster payments scheme aims to make same day payment where the instruction is received before 8pm. Payments must be made to a UK bank or building society account in your own name and they must be a member of the Faster Payment scheme.
CHAPS (Clearing House Automated Payment System) is a Telegraphic Transfer system which allows you to make same working day withdrawals and deposits for your investment accounts. Same working day payment is guaranteed if the instruction is received before 3:30pm. To find out more, visit our CHAPS Payments page.
If you need someone to withdraw on your behalf
If you’re unable to get into branch yourself, you can authorise a third party representative to make a withdrawal on your behalf, subject to your account terms and conditions. You'll need to complete the Third Party Withdrawal Form.
Once you’ve completed the form, ask the third party to bring it into a branch, at which point we’ll call you to confirm you’re happy to go ahead with the transaction.
Use our branch finder to find your nearest branch.
Third Party Withdrawal Form [PDF]
If your account was opened online
Important information on withdrawing from online accounts
- For security reasons, you cannot withdraw from an online account within 14 days of us receiving your first payment into the account.
- Online requests 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 are processed on the next working day.
- If total payments from your online accounts 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.
- Payments over £100,000 made online will automatically be processed using CHAPS. If you want to guarantee same day payment, you must request this before 3:30pm and there is a £6 fee for this service. Please note we can't send payments to third party accounts and the account you're sending funds to must be a UK bank or building society account held in your own name.
Ways to withdraw funds
You can only withdraw through Skipton Online or the Skipton Mobile app and you must have registered your extra layer of security.
To withdraw through Skipton Online
- Login to Skipton Online and select 'Withdraw' next to the relevant account
- If you’re making a withdrawal to an external bank account, you'll need to provide details from your extra layer of security. Please note if you’re transferring into an external bank or building society account it must be a nominated account. That nominated account must be a UK bank or building society account held in your own name. You can set up a nominated account by logging in to Skipton Online.
To withdraw through the Skipton Mobile app
- If you haven't already done so, you'll need to install the app
- To withdraw to an existing nominated account, just log in to the app and select the account you want to withdraw from and follow the instructions
- Before you can withdraw to a new nominated account, you'll need to set up the new nominated account in Skipton Online. We’ll ask you to provide details from your extra layer of security. The nominated account must be a UK bank or building society account held in your own name. Where we’re unable to verify that the nominated account is held in your name, we'll ask you for evidence. Once you've done that you can then make withdrawals to your new nominated account through the app as above.
Access to your money
If you have money in a fixed rate or limited access account (such as a notice account), the terms and conditions of your account contain restrictions on withdrawals. However, we understand that circumstances change. If you need access due to a change in circumstances for you or a member of your immediate family since you opened the account, please get in touch with us. Under certain circumstances, we can review whether the restrictions should apply. You can also find more detail about this in your account terms and conditions.
Please note that if your account is Lifetime ISA, any withdrawals within the first 12 months of your first payment into a Lifetime ISA will incur a 25% government withdrawal charge, which means you would get back less than you paid in. After that, you can withdraw money to buy your first home, but for any other withdrawals before the age of 60, the government withdrawal charge will apply (unless you are diagnosed with a terminal illness).