Frequently asked questions

There are three ways to add money to your account. Remember, all payments must come from your linked bank account.

Make a one-off deposit

Send a regular bank transfer using your account details, or add money through the OakNorth app or web platform without needing to enter any details. Transfers are usually instant, but can take up to one business day.

Set up a monthly payment

Schedule a payment to repeat each month. Once it’s set up, your money moves automatically.

Can’t see this feature? Your bank may not support scheduled payments.

Post a cheque

Make it payable to ‘OakNorth Bank PLC’ and write your full name and OakNorth account number on the back of the cheque. Cheques can take around one week or more to process, depending on when they’re posted. Send it to: OakNorth Bank PLC, 6th Floor, Ship Canal House, 98 King St, Manchester, M2 4WU.

Adding money in the app and web platform, and scheduling payments, is powered by TrueLayer, which is regulated by the Financial Conduct Authority. TrueLayer securely connects your linked bank account to OakNorth, so you can move money quickly and safely.

The quickest way to withdraw money is via our web platform or app, by tapping on ‘Withdraw’. You can also make a withdrawal request over the phone if preferred.

When will I receive my funds?

If you make a withdrawal on a business day, the money will be sent to your linked account the next business day. If you make the request on a weekend or bank holiday, it’ll arrive on the next business day.

For Notice accounts, your money will be sent on the day your notice period ends.

If your account is maturing, the money will be sent to your linked account on your maturity date and arrive by the end of the day.

Are there any limits or penalties?

This depends on the type of account you have. Some accounts may require advance notice, restrict early access or apply interest penalties for early withdrawals. Always check your account’s terms and conditions to understand any specific limitations or charges.

If you’re transferring your ISA to another provider, contact them first – they’ll manage the transfer directly with us.

If you’ve got more than one savings account with us, you might be able to move money between them – it depends on the type of account. Just log in to the app or web platform, tap ‘Move money’ and follow the steps.

A few things to keep in mind

• Notice accounts: If you’re moving money out of a Notice account, your funds will only be available once the notice period ends. We’ll show you the expected date when you set up the transfer.
• Fixed Term accounts: You can transfer money into a Fixed Term account from an Easy Access Tracker account – as long as it’s still within the funding window.
• ISAs: You can’t use the ‘Move money’ feature to transfer into an ISA. New customers can transfer in existing ISAs when opening a new OakNorth ISA, but once it’s open, further transfers aren’t possible.
• Joint and sole accounts: Transfers between joint and sole accounts aren’t possible right now.

You can set up a regular payment into your savings account in just a few steps.

Schedule a payment:

1. Select the account you’d like to add money to regularly
2. Tap ‘Add’, then enter the amount
3. Edit your schedule – choose when you’d like it to start and end. At the moment, scheduled payments can only repeat monthly. We’re working on adding more options soon.
4. When you tap ‘Next’, you’ll be redirected to your linked bank account to approve the payment
5. Once confirmed, you’ll see a success screen letting you know you’ve set up a scheduled payment

You can only have one scheduled payment at a time per OakNorth account. To make changes, cancel your current schedule and set up a new one.

Can’t see this feature? Your bank may not support scheduled payments.

Cancel a scheduled payment:

1. Go to the account with the scheduled payment
2. Tap the payment and select ‘Cancel scheduled payment’
3. You’ll see a confirmation message once the schedule has been cancelled

Scheduling payments is powered by TrueLayer, which is regulated by the Financial Conduct Authority. TrueLayer securely connects your linked bank account to OakNorth, so you can move money quickly and safely.