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Ring-fencing and Birmingham Midshires

10 April 2017

Most major UK banks need to ring-fence their retail and business banking from more complex banking such as wholesale and investment banking. These new rules are being introduced by the Government as part of Bank Structural Reform Legislation, to strengthen the UK banking industry and protect customers and taxpayers. They must be in place by 1 January 2019.

You can find out more about ring-fencing and Bank Structural Reform Legislation, at the Financial Conduct Authority’s website here and the Bank of England’s website here.

What ring-fencing means for Birmingham Midshires customers

The majority of our personal banking services will be ring-fenced which means most customers will not see any changes and will carry on banking as you do today.

Eligible deposits will continue to be protected by the Financial Services Compensation Scheme (FSCS). You can find more about the FSCS at

Keep your bank details safe

It’s important to keep your bank details safe whether you’re chatting with friends, shopping online or managing your bank account.

Fraudsters contact people pretending to be Birmingham Midshires, or other well-known companies. They may use email, text messages or call you by phone.

They do this to get access to your bank account, get you to send money to them or take control of your device to steal your personal data or send your computer a virus.

At Birmingham Midshires we’ll never ask you to:

  • Share any Internet Banking account details like username, password and memorable information.
  • Tell us your Personal Security Number (PSN) for Telephone Banking.
  • Tell us your PIN code, expiry date, CVV number (the last 3 digits of the security code on the back of your card).
  • Move money to a so-called secure account, safe or holding account.
  • Move your money or ask you to transfer funds to a new sort code and account number that we provide.

Although the majority of our customers will see no changes, other banks will be making changes related to ring fencing and fraudsters will take advantage of this period. If you receive instructions about a change in bank details from companies you make regular payments to, you should contact them on a number you normally use to check these are genuine.

For more information on how to stay secure online, visit our security pages.

If you have accounts with other banks

Most of the UK’s larger banks will be making changes to ring-fence their essential banking services so they are separated from more complex banking. If you have accounts with other banks, they will tell you if your accounts are affected by the changes they are making. If you have any questions you should contact the relevant bank directly.

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FSCS – protecting your money. Find out more here.

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© Birmingham Midshires
This site is intended for UK residents unless otherwise stated.
Birmingham Midshires is a division of Bank of Scotland plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland No. SC327000.
To contact the FCA Consumer helpline, please ring 0800 111 6768. Alternatively call the Money Advice Service on 0300 500 5000 or visit