Britannia fixed rate account holders

What type of fixed rate savings account do you hold with Britannia?

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Fixed Rate Cash ISA

If your Britannia Fixed Rate Cash ISA is going to be transferred to a Co-operative Bank Fixed Rate Cash ISA, you'll receive a letter from us to let you know. Find out what will happen next once you receive this letter.

What happens next

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Fixed Rate Bond

If your Britannia Fixed Rate Bond is going to be transferred to a Co-operative Bank Fixed Rate Deposit, you'll receive a letter from us to let you know. Find out what will happen next once you receive this letter.

What happens next

If your Britannia Child Trust Fund or Matured Child Trust Fund is scheduled to transfer to a Co-operative Bank Child Trust Fund or Matured Child Trust Fund, you'll receive a letter from us to give you advance notice of this transfer. Once you have received this letter about your account transferring, you'll have the following options dependent on the type of Child Trust Fund you hold.

I have a Britannia Fixed Rate Cash ISA

If you have a Britannia Fixed Rate Cash ISA, then you don't need to do anything. We'll move your account balance and transfer any accrued interest minus any pending charges for withdrawals you have made on your Britannia account (if applicable), to your new account and we'll send you details of your new account once it has been transferred.

The account transfer does not affect your annual ISA allowance. You will not be able to add additional funds to your new account before it matures. However, if you have not used your full annual ISA allowance for this tax year, you can still pay into another cash ISA up to the annual ISA allowance.

What happens next

  1. We will transfer your Britannia Fixed Rate Cash ISA to your new Co-operative Bank Fixed Rate Cash ISA and close your Britannia account. Your balance, including any accrued interest minus any pending charges for withdrawals you have made on your Britannia account (if applicable), will be transferred to your new account and you will be sent your new sort code and account number. Your interest will continue to be paid annually and any interest transferred will be included in your next annual interest payment.
  2. Your new account will be open when you receive your new sort code and account number.
  3. You will continue to have full access to your money throughout this process. If you need to access your money before you receive your new account details, then please contact us.
  4. 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 reinvesting or withdrawing).

Please note

You can choose to close your account, or transfer your funds to another ISA with us or another provider.

However, if you close, transfer, or withdraw from your Fixed Rate Cash ISA before your maturity date, you'll be charged the value of 180 days' interest on the amount you withdraw (using the account's interest rate).

The charge will be taken from interest you've earned but haven't yet been paid. If you haven't earned enough interest to cover this charge, some of it will come out of your original deposit(s).

Any money that you withdraw from your ISA will lose its tax-free status, and, if repaid back into an ISA, it will count towards your current tax year's annual ISA allowance.

To transfer your funds to another provider, please contact your new provider to start the transfer. You must not withdraw the funds yourself to transfer as they will lose their tax-free status.

Please read the summary of changes table for your account type carefully, along with the Terms & Conditions, Summary Box, and Savings Account Charges leaflet enclosed in the letter from us giving you notice of this transfer.

I have a Britannia Fixed Rate Bond

If you have a Britannia Fixed Rate Bond, then you don’t need to do anything. We will move your account balance and transfer any accrued interest to your new account, and we will send you details of your new account once it has been transferred.

The account works in the same way as your Britannia Fixed Rate Bond meaning you cannot take any money out or close your new account until it matures at the end of your chosen fixed term.

You can continue to manage your savings in branch, over the phone or by post and in addition will have access to online and mobile banking to manage your savings.

What happens next

  1. We will transfer your Britannia Fixed Rate Bond to your new Co-operative Bank Fixed Term Deposit and close your Britannia account. Your balance, including any accrued interest will be transferred to your new account and you will be sent your new sort code and account number. Your interest will continue to be paid as normal and any interest transferred will be included in your next interest payment.
  2. Your new account will be open when you receive your new sort code and account number.
  3. You cannot take any money out or close your new account until it matures at the end of your chosen fixed term.
  4. 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).

Please read the summary of changes table for your account type carefully, along with the Terms & Conditions, Summary Box, and Savings Account Charges leaflet enclosed in the letter from us giving you notice of this transfer.

Summary of changes

Please select your Britannia account below to see the summary of changes that apply to you.

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.

View our General Terms & Conditions (PDF)

Frequently asked questions (FAQs)

If your Britannia savings account is being switched to a Co-operative Bank savings account, you’ll receive a letter from us at least 2 months before your account is switched.

Not all of the Britannia account types will be switched over at the same time. If you have other Britannia account types, we’ll contact you separately about each account when it’s due to be switched to a Co-operative Bank account.

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).

The Co-operative Bank account gives you more options for managing your account. You can visit our branches, contact us by telephone or manage your account on the go, through online and mobile banking. You’ll also receive statements of all transactions, with the option of choosing to have paperless statements, with digital access 24 hours a day, 7 days a week.

You can find more information about the changes that will apply to you in the summary of changes tables by selecting the account you have with us.

If you have other Britannia account types, we’ll contact you separately about each account when your account is due to be switched to a Co-operative Bank account.

We’re simplifying our ranges 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.

No, when your account switches you’ll receive a new Co-operative Bank sort code and account number.

You’ll no longer need a passbook with a new Co-operative Bank account. You’ll have more options for managing your account: in our branches, by contacting us by telephone or on the go, through online and mobile banking. You’ll also receive statements of all transactions with the option of choosing to have paperless statements, with digital access 24 hours a day, 7 days a week.

Yes, you can use any of our branches.

Find a branch

There is no change to the interest rate or term. The interest rate is fixed for the term chosen by you at account opening and will not change during the term.

You can find more information about the changes that will apply to you in the summary of changes tables by selecting the account you have with us.

There is no change to your maturity date. Your fixed rate account matures at the end of the term you chose at account opening.

Your balance, including any accrued interest minus any pending charges for withdrawals you have made on your Britannia Fixed Rate Cash ISA (if applicable), will be transferred to your new account. Your interest will continue to be paid annually and any interest transferred will be included in your next annual interest payment.

The account transfer does not affect your annual ISA allowance. You will not be able to add additional funds to your new account before it matures. However, if you have not used your full annual ISA allowance for this tax year, you can still pay into another cash ISA up to the annual ISA allowance.

If you currently have your interest paid to an another account with us or another provider that uses a roll number we need you to provide a new bank account number and sort code for your interest to be paid to. When we transfer your Britannia Fixed Rate Bond to a Co-operative Bank Fixed Term Deposit we can no longer pay interest to a Britannia account or accounts using a roll number.

If your interest is paid annually there will be no change to when or how your interest is paid.

If your interest is paid monthly we will aim to pay your monthly interest on the same date as you receive it now, but it may change. We will endeavour to keep it as close to your current interest payment date as possible. If this date doesn’t fall on a Business Day it will be paid on the next available Business Day.

Business Day is usually Monday to Friday excluding bank holidays.

If your Fixed Rate Bond matures between 15 September and 30 November 2023 and you choose to re-invest in a Fixed Rate Bond, shortly after maturity we will transfer your Britannia Fixed Rate Bond to a Co-operative Bank Fixed Term Deposit. We will provide full details of this change in your maturity pack. If you choose not to re-invest in a Fixed Rate Bond your funds will transfer into a Britannia instant access account. We will write to you at a later date to advise when your account will transfer to a Co-operative Bank instant access account.

If your Fixed Rate Bond matures before 15 September you will receive a maturity pack as normal and we will write out to you at a later date to advise when we will transfer you to a Co-operative Bank account.

Access all the latest information

Important documents relating to Britannia savings account transferring to Co-operative Bank savings account for you to read and save copies for future reference.

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Contact us

To discuss your Britannia savings account, call us on:

0800 132 304

Lines are open Monday to Friday, 8am to 6pm. 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:

03457 212 212

Lines are open Monday to Friday, 8am to 6pm and Saturday, 9am to 12pm. Call charges apply.

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Visit us in branch

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.

Find a branch

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 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.

Learn more about how to protect yourself from 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 Co-operative Bank 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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