Planned maintenance message.
Our online banking services will be unavailable for scheduled maintenance from 5.00pm Friday 25th January 2025. We expect these to return by 9.00am Monday 27th January 2025.
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.
Latest News and Case Studies
Redwood Bank is aiming for an incredible seventh successive win after being shortlisted again in national industry awards.
A Redwood rising star has just celebrated her seventh anniversary with the bank and the successful end of her second year as its People Partner.
Almost a quarter of landlords accessing loans through a specialist business bank already have energy-efficient properties.
Residential and commercial portfolio owners with assets falling in the A-C EPC category have been able to take advantage of Redwood Bank’s Green Reward launched at the end of last year.
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.
