Britannia ISA customers
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If you hold a cash ISA with Britannia, we'll automatically transfer your account, or help you select a different account
You can read a summary of changes for your savings account, to see how it may have changed, and get answers to some of our most frequently asked questions (FAQs) below.
If your Britannia cash ISA is scheduled to transfer to a Co-operative Bank cash ISA, you'll receive a letter from us to give you advance notice of this transfer. Once you have received this letter about your account(s) transferring, you'll have the following options:
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If you're happy with this automatic transfer
- Then you don't need to do anything. We'll transfer your Britannia account(s) to a Co-operative Bank account(s) and close your Britannia account(s). Your balance, including any interest earned, will be transferred to your new account(s) and we'll send you your new account details.
- We'll send you a final summary of the transactions on your Britannia account(s), once it has been closed.
- Your account will be open when you receive your new account number and sort code.
- You'll continue to have full access to your money, as you do today, throughout this process. If you need to access your money after your account is transferred and before you receive your new account details, then please contact us.
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If you'd prefer to transfer your ISA to another ISA with us or another provider
If you think another cash ISA would better suit your savings needs, we offer a range of Fixed Rate Cash ISAs which you can choose to transfer your funds to. Or you can also transfer your cash ISA to another ISA provider, you’ll need to contact your new ISA provider to arrange this.
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.
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If you decide that changing to a new Co-operative Bank ISA is not right for you
- You can choose to close your account, however please be aware if you close your account or transfer your funds to a non-ISA savings account your funds will lose their tax-free ISA status. You can close your account without notice, charge, or loss of interest.
- Please note that CHAPS (Clearing House Automated Payment System) transfers will still incur a fee.
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If you'd prefer to move your account to one of our other Co-operative Bank savings accounts
- As well as cash ISAs, we also offer a range of non-ISA savings accounts including instant and limited access accounts, and fixed rate products. Explore our savings range here, or get in touch by visiting us in branch.
How do I know what the best decision is for me?
To help you decide what option is best for you, as we prepare to transfer the Britannia accounts, we have created a summary of changes table. This displays the key information and differences between your existing Britannia savings account and the new Co-operative Bank savings account we are transferring you to.
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.
If you're happy to transfer automatically to the Co-operative Bank product stated in your letter, then don't worry - you can let us take care of the rest.
Summary of changes
The interest rates in the summary of changes PDFs are correct at the time we sent you the letter. For up to date interest rates across our products please see the following:
Interest rates for existing savings accounts
Interest rates for savings accounts that are no longer available to new savers
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.
How do I know if my account will change?
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.
What do I need to do once I receive my new account details?
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.
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 could this change of account mean for me and my money?
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.
What happens if I have another Britannia account?
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.
Why is my account being moved?
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.
Will I keep the same account number?
No, when your account switches you’ll receive a new Co-operative Bank sort code and account number.
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.
Can I still make a deposit into my account using a debit card?
Making deposits by debit card will no longer be possible, however you can make deposits by electronic transfer from another account held with us or another provider.
You can also deposit cash and cheques in any of our branches or by visiting any Post Office® in the UK where you can pay in cheques.
Will I still have a passbook?
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.
Can I use the account at my normal branch?
Yes, you can use any of our branches.
What if I don’t want a Co-operative Bank savings account?
You can choose to close your Britannia account and transfer your money to an existing Co-operative Bank account with us, or to an account with another provider.
What will my new interest rate be?
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.
Why is the interest rate in my summary of changes letter different to the actual rate?
The interest rates in the summary of changes PDFs are correct at the time we sent you the letter, but our variable interest rates can change at any time. You can view our current interest rates on the following pages:
Interest rates for existing savings accounts
Interest rates for savings accounts that are no longer available to new savers
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.
To discuss your Britannia savings account, call us on:
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:
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 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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