We're transferring Britannia savings accounts to Co-operative Bank savings accounts
We're simplifying our range of savings accounts by bringing all of our Britannia and Co-operative Bank accounts together under the single brand of The Co-operative Bank.
By offering a simpler, more select range of accounts, we're aiming to make it easier for you to find the accounts which are ideal for you, and most suitable for your needs or circumstances.
To do this, we'll be transferring all of our Britannia customers' savings accounts across to Co-operative Bank savings accounts, and we'll no longer be offering Britannia accounts.
Beware of scam phone calls
Fraudsters are continuing to target customers through telephone calls claiming to be from your bank, the police, or other companies. These fraudulent callers try to obtain personal details or account security information.
Regardless of how professional or convincing a caller sounds, remember, the bank, police or other trusted organisations will never:
- Ask for your financial information or your security details in full
- Ask you for your PIN code, verification codes or token codes
- Ask you to move your money to a new or 'safe' account
- Send you an email, text or social media message containing a link to a login page.
If you're suspicious of contact you've received either by phone, text, email or letter asking you for your banking details, secure log in information or to move your money to another account please call us on 159 to report a scam.
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If you've received a letter from us saying your Britannia savings account is going to be transferred to a Co-operative Bank savings account soon, this information applies to you.
What type of savings account do you hold with Britannia?
An instant access or limited access account
Includes the following products;
- Flexible Savings
- Select Saver
- Instant Access Deposit
- Direct Saver
- Direct Saver Reserve
- EasySaver
- First Saver
- First Saver Plus
- Maturity Saver
- Select Access Saver.
A cash ISA
Includes the following products;
- Cash ISA
- Limited Access Cash ISA
- Instant Access Cash ISA
- 30 Day Notice Cash ISA
- Select Access Cash ISA
- Additional Allowance ISA.
A fixed rate account
Includes the following products;
- Fixed Rate Cash ISA
- Fixed Rate Bond.
A Child Trust Fund
Includes the following products;
- Child Trust Fund
- Matured Child Trust Fund.
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If you've received a letter from us confirming that your Britannia savings account has already been transferred to a Co-operative Bank savings account, this information applies to you.
The letter you should have received provides you with your new sort code and account number.
Depending on which account you have, there are various ways you can manage your savings with us. This may include:
- Via online banking
- Through our mobile app
- By visiting us in branch
- By telephone
- By post.
Summary of changes
Our summary of changes PDFs display the key information and differences between your original Britannia savings account and the new Co-operative Bank savings account we have transferred you to.
Please select your Britannia account below to see the summary of changes that apply to you.
Instant access and limited access accounts
The interest rates in the summary of changes PDFs are correct at the time we sent you the first letter. For up to date interest rates across our instant access and limited access savings accounts, please see the following:
Interest rates for existing savings accounts
Interest rates for savings accounts that are no longer available to new savers
Cash ISAs
Fixed rate accounts
Child Trust Fund accounts
Offset accounts
If you have an Offset Savings Mortgage account you can find out more information on our Simplifying Mortgages webpage.
What do I need to do now that I have my new account details?
There are a number of ways to bank with us:
Register for Telephone Banking – You’ll need your new account number and sort code.
Call 03457 212 212 to request your 4 digit telephone banking security code. Lines are open 8am-6pm Monday to Friday, 9am-5pm Saturday and Sunday. Call charges apply.
Register for Online Banking – A convenient and secure way to manage your money.
As well as being able to manage and transfer your money, you can download statements, update your personal details, access our help and support hub, message us and more. Find out more about online banking.
Register for the Mobile App – Our banking app is a quick and secure way to manage your money from your mobile phone.
Before you can use the app, you’ll need to register for online banking. This can be done within the app. For verification you’ll also need your mobile or email address. Find out more about mobile banking.
Visit one of our branches – Our branch colleagues can help with your everyday banking needs. Find a branch
How will my personal data be used when my account switches?
The details of how we process your personal data has not changed. If you're concerned about any personal data processing, you can refer to the privacy policy (PDF).
What happens to my incoming payments?
IMPORTANT- If you have any payments due to be made into your Britannia account, you’ll need to provide any person, company or any other Bank or Building Society paying into your account, with your new account details to avoid disruption with your payments.
What happens to the interest that was being paid into my account from another Britannia account?
You will need to arrange to update the details for the interest to be paid to your new sort code and account number. You can do this by calling us on 0800 132 304, lines are open Monday to Friday, 8am to 6pm and Saturday, 9am to 12pm. Call charges apply.
What is a Summary of Transactions?
The summary of transactions includes all transactions for your Britannia account since your passbook was last updated or since your last statement was issued. If you haven’t received a statement or had a passbook update in the last 12 months, then the summary of transactions will include transactions for the last 12 month period.
What will happen to my Direct Debit?
If your account is funded via Direct Debit, this will end when your account is switched, as this feature will no longer be available.
What will happen to the number of withdrawals allowance on my Select Access Saver account when my account transfers?
Your number of withdrawals will reset to 0 when we open the new account.
Does this transfer of account affect my ISA subscriptions / allowance?
This account transfer does not affect your ISA subscriptions. You can save up to £20,000 in the current tax year and/or transfer in ISA allowances from previous tax years.
Can I continue to pay into my ISA?
If you have not used your annual ISA allowance you can continue to pay into your cash ISA. However, if you haven’t paid any money into your ISA during a tax year, you’ll need to call us on +44(0)3457 212 212 (call charges apply) to refresh your ISA. Lines are open 8am - 6pm Monday to Friday, 9am - 5pm Saturday and Sunday. Call us from the UK and abroad. You can also send a secure message if you have registered for online banking. You may need to make a new declaration if you want to make a deposit in a different tax year.
Please note; this does not apply to fixed rate products.
What happens on maturity of my new Co-operative Bank Fixed Term Deposit?
We will continue to send you a letter when your fixed term is coming to an end. It’ll remind you of your maturity date and let you know what options are available to you (such as re-investing or withdrawing). When your account matures, we will transfer it to a variable rate instant access Smart Saver account unless you tell us otherwise.
What happens on maturity of my new Co-operative Bank Fixed Rate Cash ISA?
We will continue to send you a letter when your fixed term is coming to an end. It’ll remind you of your maturity date and let you know what options are available to you (such as re-investing or withdrawing). When your account matures, we will transfer it to a variable rate instant access Co-operative Bank Cash ISA unless you tell us otherwise.
Does this transfer of account affect my Child Trust Fund allowance?
This account transfer does not affect your Child Trust Fund allowance. You can save up to £9,000 during each birthday year.
A birthday year is the 12 month period from the day of your birthday each year, to the day before your birthday the following year.
Can I continue to pay into my Child Trust Fund?
If you have not used your full allowance of £9,000, for your current birthday year, you can continue to pay into your Child Trust Fund.
A birthday year is the 12 month period from the day of your birthday each year, to the day before your birthday the following year.
Can I withdraw or close my Child Trust Fund?
Withdrawals and closure are not allowed until the account matures on the child’s 18th birthday.
The only exceptions to this are:
- If we receive notice from HMRC, confirming that withdrawals are authorised because the child is terminally ill.
Closures can only be made:
- Where we receive notice that the child has died
- If any applicable law requires us to, including where directed to do so by HMRC
- HMRC has told us that the account is void or no longer eligible for favourable tax treatment.
You can transfer the account to a provider of a Child Trust Fund or a Junior ISA, as long as that provider agrees to the transfer. If they agree to the transfer, we will make the transfer on your written instructions and within the time limit specified by you (subject to a minimum period of 30 days). Account transfers are free of charge.
When does my Child Trust Fund mature?
The account will mature on the child’s 18 birthday when it is automatically transferred into a Co-operative Bank Matured Child Trust Fund. We will write to you before maturity to confirm the options available at the time.
Can I pay into my Matured Child Trust Fund?
No, deposits are not allowed into this account.
Can I withdraw or close my Matured Child Trust Fund?
Yes, you can withdraw your funds whenever you want.
However, the withdrawal(s) must be for the full amount. Although partial withdrawals are not permitted, multiple transactions are allowed on the same day. After which the account will be closed.
You can request a transfer of the funds into an ISA, either with us or with another provider. So you don’t lose the tax-free status that applied to the Child Trust Fund account, the funds would be transferred as if they were previous years’ ISA allowances. This will allow you the full current year’s ISA allowance amount of £20,000. If you choose to transfer to another provider, you will need to contact them to request the transfer.
As the Matured Child Trust Fund is not a flexible Cash ISA, any withdrawn money that you want to replace in an ISA will count towards your ISA subscriptions for the current tax year, and you are only allowed to deposit up to the maximum ISA limit in a tax year.
Terms and Conditions (T&Cs)
The ‘General Terms and Conditions for your Co-operative Bank savings account’ will apply in place of the ‘General Terms and Conditions for your Britannia savings account’. These terms apply to all our Co-operative Bank savings accounts and reflect the improvements to the ways you can manage your savings with us.
Access all the latest information
Important documents related to Britannia savings account switching to Co-operative Bank savings account for you to read and save copies for future reference.
To discuss your Britannia savings account, call us on:
Lines are open Monday to Friday, 8am to 6pm and Saturday, 9am to 12pm. Call charges apply.
To discuss your new Co-operative Bank savings account, once you have received your account number and sort code, call us on:
Lines are open Monday to Friday, 8am to 6pm and Saturday, 9am to 12pm. Call charges apply.
Use our branch finder to find your nearest branch.
Our branch staff can help you with any query you might have, as well as offering help in opening new accounts.
Savings terms explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
Fixed interest means the rate stays the same until the account matures.
Gross is the rate of interest payable before any tax is taken off.
Tax-free means you will not pay any tax on your interest.
Tax year runs from 6 April to 5 April.
Variable interest means that it could go up or down.
Business day is usually Monday to Friday excluding bank holidays.
Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.
The Co-operative Bank reserves the right to decline to accept any application and/or deposit.
Being part of a bank you can hold to account
It’s our values and ethics that really set us apart as a bank — and it always has been, since 1872. With a customer-led Ethical Policy, we give you a say in how your money is used, as well as standing up for the causes that matter to you and our colleagues. Because unlike a lot of banks, we don’t finance the production or extraction of fossil fuels, fund logging in the Amazon, or do business with organisations that fail to implement basic human rights.
Your money has power. And putting it in the right place can make all the difference.
Being fraud aware
The risk of fraud is ever growing. Fraud attempts by criminals are becoming more sophisticated with their scams; so no matter your age, wealth, or wellbeing, everyone is at risk of fraud.
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website.
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