Financial Services Compensation Scheme
Important information about compensation arrangements
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can
pay compensation to depositors if a bank is unable to meet its financial obligations.
Most depositors - including most individuals and small businesses - are covered
by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000.
For joint accounts each account holder is treated as having a claim in respect of
their share so, for a joint account held by two eligible depositors, the maximum
amount that could be claimed would be £85,000 each (making a total of £170,000).
The £85,000 limit relates to the combined amount in all the
eligible depositor's accounts with the bank including their share of any joint account,
and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility
to claim), call us on 0845 602 2828, refer to the FSCS website www.FSCS.org.uk or call 020 7892 7300 or
0800 678 1100.
Deposits in Birmingham Midshires or BM Savings branded accounts are held with Bank
of Scotland plc. Accounts with Bank of Scotland plc include accounts with its divisions
and trading names: Halifax, Intelligent Finance, Bank of Scotland, Bank of Scotland
Private Banking, Bank of Scotland Germany, Bank of Scotland The Netherlands, Bank
of Scotland Treasury, Lloyds Bank Corporate Markets, Lloyds TSB Corporate Markets,
St. James's Place Bank and St. James's Place Private Bank. Some savings accounts
under the AA Savings, Saga and Charities Aid Foundation brand names are also deposits
with Bank of Scotland plc. An eligible depositor's £85,000 limit relates to
the combined amount in accounts under all of these names.
If you are unsure whether your account is held with Bank of Scotland plc please
check your account literature.
