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Financial regulation compliance

Protecting our customers and combating crime

Like all financial organisations, we're obliged by law to confirm the identity and address of every applicant. We do this to help prevent money laundering and to protect our customers from fraud.

These rules aren't just for new customers. Even if you've had an account with us for some time, we may still check your details when you open a new account.

How we check your information

To meet our legal requirements, we search credit reference and fraud prevention agency databases to check that the name and address details you supplied are correct. This will show as a search of the database but it is not a credit score, so it will not affect your credit rating.

In most cases this check lets us open your Birmingham Midshires account without the need for any paper based identification. If we need any further proof of identification, we'll let you know.

FSCS – protecting your money. Find out more here.

Gross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.

AER means Annual Equivalent Rate. AER illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.

Tax free is the contractual rate of interest payable where interest is exempt from income tax.

For telephone line opening times, please read the information in our contact section. Calls may be monitored and recorded for security and training purposes. If you're calling from outside the UK, please dial +441902 428 311.

© 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