Frequently asked questions

Spend (current account)

You can add money to your current account by making a bank transfer from another bank.

• Log in to your OakNorth account on the web or app
• Click ‘Add money’ to view or share your account number and sort code

Earn (savings vault)

To add money to your Earn vault, you’ll need to transfer money from your Spend account.

• Log in via the web or app
• Tap or click ‘Earn’ at the top of your screen
• Select ‘Transfer’ and follow the steps to transfer from your Spend account

Please note: We’re not able to accept cheques.

Making a payment from your OakNorth account is quick and secure – whether you’re on the web or app.

You can send money to a new or existing recipient by selecting your account, entering the payment details and confirming the transaction. You’ll also choose a payment scheme – Faster Payments for everyday transfers, or CHAPS for anything £1 million or more.

For your security, we’ll guide you through a few quick checks before your payment is sent. Most payments arrive within 2 hours, subject to standard checks.

Bulk payments let you pay up to 250 recipients in one go. Perfect for payroll, supplier invoices or any time you need to pay multiple recipients at once. There’s no monthly cap – you can upload and process as many bulk payments as your business needs.

Here’s how to make a bulk payment:

1. Log in to the OakNorth web platform, go to ‘Payments’ > ‘Bulk’, then select ‘Pay’ > ‘Bulk’
2. Download the CSV template, then fill it out with recipient details: name, account number, sort code, account type, reference and amount.
3. Upload your file. We’ll check for errors or duplicates and flag anything that needs updating. If you need to make changes, just tweak your CSV and upload it again.
4. You can choose to pay straight away or save it as a draft and pay at a later date. To avoid delays, submit bulk payments between 9am and 5pm, Monday to Friday.

You can move money between your OakNorth accounts – whether that’s from Spend to Earn, or between any additional current accounts you’ve opened with us.

To make a transfer on the app or web platform, just log in, navigate to ‘Payments’, tap ‘Transfer’ and follow the prompts.

A quick note about Earn
Earn is a next-day savings vault, so if you transfer money out of it, the funds will arrive in your current account on the next business day.

You can currently hold and make payments in GBP from your OakNorth account.

You can also use your OakNorth Visa debit card in many countries globally. Fees may apply depending on the currency and location – check your card terms for details.

We’re always working to improve our product and will let you know as soon as we support other currencies natively within the account.

We don’t currently support international payments directly from your OakNorth account.

However, we’re always enhancing our product and will let you know as soon as this feature becomes available.

In the meantime, you can still use your OakNorth Visa debit card abroad. Fees may apply depending on the currency and location – check your card terms for details.

There’s no limit on how much you can deposit into your current account.

When it comes to making withdrawals or payments, there are no limits during business hours (Monday to Friday, 9am–5pm). Just note that if you’re making a payment over £100,000, it needs to be submitted before 1pm to be processed the same day.

Outside of business hours, you can withdraw or send up to £25,000.

Learn more about limits, fees and restrictions or see Processing times.

Here’s what to expect when moving money between accounts or making payments from your OakNorth account.

• Most payments go through instantly – but can take up to 2 hours.
• Larger payments may need extra checks, but will be sent no later than the next business day.
• Payments of £1M+ must go via CHAPS, which are usually same-day if sent early enough.
• Transfers from Spend (current account) to Earn (savings vault) are instant, but transfers from Earn to Spend take until the next business day, so it’s worth planning ahead.
• Bulk payments are best submitted during business hours (9am–5pm, Monday to Friday). If sent outside that window, they may not be processed until the next business day.
• Payments sent outside of business hours may also be subject to limits – you can send up to £25k in total until the next business day.

If you’re ever unsure about a transaction, just tap on it in the web platform or app – you’ll see its status (sent, pending or failed).

Learn more about limits, fees and restrictions

Setting up payment approvals

Payment approvals help you stay in control of business spending by making sure every outgoing payment is reviewed by another team member before it goes out.

If you already have members on your business account:
Just email your dedicated Business Partner and ask them to switch on payment approvals.

If you haven’t added any members yet:

1. Email your Business Partner asking to turn on payment approvals.
2. Once that’s done, you can then invite additional users via the app and choose the payment approval role they should have.

Please note, once this feature is on:

• All payments will go through the approval process
• You can have multiple approvers on the account
• The same person can’t request and approve their own payment

Submitting a payment for approval

Once approvals are turned on, submitting a payment works just like normal – with one extra step at the end:

1. Select the recipient and enter the payment details
2. Tap ‘Submit for approval’
3. You’ll see the payment marked as ‘Awaiting approval’

Reviewing payments

Head to the ‘Payments’ area to see what’s pending.

To review a payment:

1. Tap the payment in your list
2. Review the details
3. Tap ‘Approve’ or ‘Deny’, and enter your passcode to confirm

The transaction history shows who requested and who approved or denied it – helpful for future reference.

Direct debits are a simple way to stay on top of regular payments, including bills or subscriptions. While you can’t set them up directly through OakNorth, you can use the details of any of your OakNorth current accounts to arrange one with the company you’re paying. Once it’s active, it’ll show in your account automatically.

To view or cancel a direct debit, just head to the ‘Payments’ section in the app or web platform.

We don’t currently offer an overdraft facility. If you’re looking for funding, speak to your OakNorth Business Partner or check out our business lending options starting from £1M.