Running a business can often result in uncertainty and can be challenging. This is why we are proud of our competitive, simple and easy-to-use savings accounts.
*AER stands for Annual Equivalent Rate, which is a way to show the interest rate that could be earned from a savings account over a year. It's used to compare savings accounts that may have different features.
Your eligible deposits with Redwood Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information, or visit www.fscs.org.uk.
You can get in touch with us Monday-Friday 9am-5pm, excluding bank holidays.
Information and rates for our business savings accounts, including those no longer available.
We’re proud to support the Warrington community through an exciting initiative with Warrington Wolves. We've already donated 76 kids’ memberships, one for every primary school in Warrington.
For every business with a WA postcode opening their first Business Savings Account with us , we’ll donate one kids’ membership to help local children access this incredible opportunity.
Latest News and Case Studies
Lack of obvious experience in the property market can count against a landlord looking to secure funding. But, at Redwood Bank their expert team assesses each case individually allowing them to consider all relevant experience even where it is not immediately apparent.
We have already surpassed our Women in Finance Charter target, and through our Women in Focus initiative, we have planned a programme of events to drive progress and foster an inclusive environment for all. The Women in Focus initiative is sponsored by our Chief Risk Officer, Rajesh Khosla and Director of Operations, Jenna Hill.
Redwood Bank is aiming for an incredible seventh successive win after being shortlisted again in national industry awards.
Opening a Savings Account
Here are a selection of most frequently asked questions. If you can't find what you need here please refer to our Support page using the link below.
Find more answersWe have a responsibility to know our customers, so we will need to check the following aspects:
We do this by checking various electronic databases. If we are unable to verify your organisation, or the individuals involved in its management or operation, we may ask you to supply us with some identity documents via email. We will not be able to open your account until we have successfully verified your details.
When you apply for your business savings account, we will ask you for the details of the business current account that you will use to pay into, and out of, your Redwood Bank savings account. The nominated account must be in the name of the business you are apply on behalf of.
We will make all payments through this account. If you wish to change your nominated account, contact us at: hello@redwoodbank.co.uk or on 0330 053 6067 or download and complete this form.
If you are a Limited Company:
If you are a Charity:
If you do not have a registration number or are a club or association, we will require the following information during the application process, please note that the following items will be requested after applying:
If you have any questions, please do not hesitate to contact us on 0330 053 6067 or email us at: hello@redwoodbank.co.uk.
Applications can be submitted online or via post. More details on the application process can be found under ‘How do I open a business savings account?’
You can apply online through our website or by post. To apply by post, please complete a paper application form available below:
Please post paper applications to:
Redwood Bank Limited
The Nexus Building,
Broadway,
Letchworth Garden City,
SG6 3TA
If you have any further questions, get in touch on 0330 053 6067 or email: hello@redwoodbank.co.uk.
You can add up to four authorised users on your savings account.
If you need to change or remove any authorised users on your account, please complete this form and email: hello@redwoodbank.co.uk.
Note signatures from all authorised signatories, including anyone being removed, are required. If this cannot be attained, a P45 copy or copy of minutes confirming departure can be accepted.
