Finance glossary
Notice Account
Also known as: Notice savings account
In simple terms
A notice account is a savings account where you must tell the provider in advance — often 30, 60 or 90 days — before you can withdraw your money without losing interest.
On this page
What does notice account mean?
A notice account sits between an easy-access account and a fixed-rate bond. You can still get your money, but you have to give the provider a set period of notice first — commonly 30, 60 or 90 days.
In exchange for that commitment, notice accounts often pay a little more than easy-access accounts, while keeping a variable rate.
How a notice account works
When you want to withdraw, you submit a notice request and then wait out the notice period before the money is released. If you need the cash immediately, many providers either refuse or charge an interest penalty.
The rate is usually variable, so it can rise or fall over time. The longer the notice period, the higher the rate providers tend to offer.
How could this affect me?
A notice account can be a good middle ground for money you will not need instantly but do not want to lock away for years. Planning withdrawals a month or two ahead lets you earn a bit more than on instant access.
It is not suitable for an emergency fund, because you cannot get at the money on the day you need it without a penalty. Keep genuinely urgent money in easy access.
Things to watch out for
- You cannot withdraw immediately — you must wait out the full notice period.
- Taking money out without notice usually means losing interest or paying a penalty.
- The rate is variable and can change during the notice period.
- A longer notice period pays more but ties up your access for longer.
Know your rights
- Money in a notice account with an authorised bank or building society is protected up to £85,000 per person, per institution, by the FSCS.
- The provider must set out the notice period and any penalty clearly before you open the account.
General information, not personal advice
Consumer Credit is an independent information service. We do not provide regulated financial advice or sell financial products. For advice on your own situation, speak to an appropriately authorised firm or a free service such as MoneyHelper. About Consumer Credit.
Sources
We checked this page against these official and authoritative sources.
- MoneyHelper, Types of savings account (opens in a new tab). Accessed 22 Aug 2026.