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Receiving a closing account letter

We are sending letters to customers to inform them that we are closing their accounts.

Answers to your common questions

I've been informed that my ISA will be transferred to Halifax, when will this happen?

Your account will be transferred within the dates detailed in your letter. We're sorry that we can't provide you with an exact date at this time but we'll send a letter giving at least 60 days' notice before this happens which will outline your options, we'll also send you a reminder closer to the time.

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Can I continue to deposit, withdraw or close my ISA?

You can continue to transact on your Birmingham Midshires ISA at anytime before the date in your letter. If you have a Birmingham Midshires Internet ISA, you won't be able to pay money in or close it online after 31st August 2023. You'd need to call or write to us to process these transactions on your behalf.

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What happens if I don't transfer my ISA to another provider?

If you haven't transferred your Birmingham Midshires ISA by the dates detailed in your letter or closed it, to protect the tax-free status of your money we will transfer your ISA to the Halifax ISA Saver Variable. This account has a variable interest rate that can go up or down at any time. The interest rate you get will depend on your balance.

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What happens if I've not returned it to you with my identification documents?

If we don't hear from you, we'll send your closing statement for your Birmingham Midshires ISA to your last confirmed address, and we'll use this address when we transfer your ISA to Halifax.

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What will happen to my Standing Order/Direct Debit to and from my ISA?

If you make or receive any regular payments to or from your Birmingham Midshires ISA, please make other arrangements as these will stop when we transfer your ISA. Setting up new payment arrangements can take several days, so it's a good idea to do this as soon as possible.

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Will I receive any information after my ISA has been transferred to Halifax?

Once your new Halifax ISA has been opened, you'll receive a welcome letter which will confirm your new account number and everything you need to know about your ISA. If Halifax needs more identification documents from you, or you need to sign a new ISA declaration, we'll let you know in this letter. You'll also be sent a closing statement for your Birmingham Midshires ISA.

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Where can I find more account information regarding my Halifax ISA?

In your letter you will find enclosed a Halifax Cash ISA Guide, Conditions, Summary Box and Rate Leaflet so you can read more about this account including the FSCS Information Sheet as your eligible savings would continue to be protected by the Financial Services Compensation Scheme (FSCS).

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How will I be able to manage my Halifax ISA?

Once we have transferred your ISA to Halifax, you'll be able to manage your Halifax ISA online, on the Halifax Mobile Banking app, in branch or by phone. You might need to set up new security details like a user ID, password, memorable information or PIN to use the account and access your money. We'll let you know how to do this closer to the time.

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Can I add to my new Halifax ISA?

If you're a UK resident, once we've transferred your ISA to Halifax and you've returned any documents Halifax have requested, you can add to your ISA. Your ISA subscription allowance for the 2023/2024 tax year is £20,000, this includes any money that you have paid into your Birmingham Midshires ISA for the current tax year. Please remember that any amount you pay into a stocks and shares ISA, innovative finance ISA or lifetime ISA reduces the amount you can pay into your cash ISA and you can only subscribe to one cash ISA each tax year.

If you don't live in the UK, you may not be able to add to your ISA in line with HMRC ISA guidelines.

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Can I still transfer my Halifax ISA in the future?

Once your ISA has been moved to Halifax and your address and identity have been confirmed you'll be able to transfer it to another ISA with Halifax or another ISA provider if you want to.

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Why was my account closed?

We regularly review our product range and make changes where necessary. Birmingham Midshires stopped selling new savings accounts in 2019.

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When will my account be closed?

Your account will be closed within the dates detailed on your letter. If you have more than one account they may close at different times. We're sorry we can't give you the exact date your account will close on. If you want to close your account before this date, instructions on how to do this are included in your letter. So that you know when we've closed your account, we'll send you a closing statement.

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What if I want to keep my account open?

We're unable to keep the account open for you. Unfortunately we no longer offer new savings accounts so we can't offer you an alternative. We hope giving you at least 60 days notice provides you time to consider the next steps for your savings. We're sorry for any inconvenience this causes.

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Are there any other Birmingham Midshires accounts I can have?

I'm sorry we can't offer you an alternative as Birmingham Midshires no longer offer any new savings accounts. You may wish to explore your options with other providers such as those within Lloyds Banking Group (Lloyds, Halifax or Bank of Scotland). More information on these can be found by visiting a branch or online.

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What will happen to my account now?

We will send you a letter advising you when your account will be closed. Your letter will explain if we need any further details from you and how we'll return your money to you. If we've asked you to return reply slips to us in your letter, please do this as soon as possible to help us keep your money safe and return it to you.

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How long will I have to wait for my money?

Your account will be closed within the dates detailed on your letter and the money returned to you. If you have more than one account they may close at different times. We're sorry we can't give you the exact date your account will close on. If you want to close your account before this date, instructions on how to do this are included in your letter. We'll send you a closing statement so that you know when we've closed your account.

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Who will the cheque be made payable to?

In most cases the cheque will be made payable and posted to the account holder. If it's a joint account we'll make the cheque payable to both customers but post it to the customer who is named first on the account. If for any reason this isn't the case, we'll tell you in the letter who your cheque will be made payable to and to whom it will be posted.

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Questions relating to address and tracing

We are working hard to reunite customers with their money. We carried out an address search to help us find customers' current addresses. If we've asked you to return reply slips to us to confirm your address or identification in your letter, please do this as soon as possible to help us keep your money safe and return it to you. It's important that you let us know of any changes to your personal details such as name and address.

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I've lost my letter and can't remember what I need to do

You can call us on 0345 608 2828 or write to us to at the address below to request a copy of your letter. Alternatively, if you call us we'll talk you through the closure of your account.

Savings and Investments Team
Birmingham Midshires Corporate Centre
Pendeford Business Park
Wobaston Road
Wolverhampton
WV9 5HA

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Why haven't all my accounts not been closed?

Please call us on 0345 608 2828 to look into your accounts and we will talk you through why some of your accounts have not yet been closed. If you have more than one account they may close at different times, we're sorry we can't give you the exact date your account will close on. If you want to close your account before this date, instructions on how to do this are included in your letter. We'll send you a closing statement for each account you hold so that you know when we've closed them.

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Will I receive a closing statement to my new address?

Your closing statement will have been sent to the address we have on our system. If you have returned the reply slip to us confirming your new address, we will update our records on our system and the statement will be sent to your new address.

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Will I lose access to my online savings account?

Once your account has been closed, you will lose access to your online account. Please print or download any information you may need before we close your account. Alternatively, call us on 0345 608 2828 for statements or a certificate of interest that you may need.

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I've had a letter to say you'll be withdrawing the account, when will this happen?

Your account will be closed within the dates detailed in your letter. We're sorry that we can't provide you with an exact date at this time but we'll send a letter giving at least 60 days' notice before this happens which will outline your options and serve as a reminder. We'll send you a closing statement so that you know when we've closed your account. If you transfer your money to an account which isn't an ISA, or you close your ISA, your money will lose its tax-free status.

Birmingham Midshires no longer provide new ISA's so we can't offer an alternative - you may wish to explore your options with other providers such as those within Lloyds Banking (Lloyds, Halifax or Bank of Scotland). More information on these can be found by visiting a branch or online.

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Can I transfer my ISA to another provider?

When we close your ISA your money will lose its tax-free status. To protect this you'll need to transfer your ISA to another provider before we close it. It can take 15 working days to complete an ISA transfer so you should contact your chosen ISA provider to start this process as soon as possible.

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Why do I need to provide ID?

To protect your account from fraud if you haven't used your account in a while or to verify your address and identity we may ask you to provide proof of your identity. Before we can update the address records on our system we need to confirm your new address.

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What happens if I don't return the reply slip with my identification documents to you?

When we close your account, we'll keep your money safe. If you want the money from your account at a later date, call us on 0345 602 2828 and we'll explain what you need to do so that we can return your money to you. We'll need you to confirm your identity.

If more than 15 years go by without you contacting us, we'll securely transfer the money to the Reclaim Fund Ltd. This is authorised by the Financial Conduct Authority and makes it possible for money in dormant bank accounts to be used to help good causes.

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What will happen to my Standing Order/Direct Debit to and from my account?

If you make or receive any regular payments to or from your account, please make other arrangements. Setting up new payment arrangements can take several days, so it's a good idea to do this as soon as possible.

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What happens if I live abroad and I don't have a UK bank account?

If you live abroad and prefer to receive the money into a non UK bank account by international money transfer in pounds sterling or euros, call us on +44 1902 428311 and we can arrange this for you without charge. You might need to complete an International Money Transfer form and prove your identification so that we can do this.

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I have less than £1 in my account

If the amount of money in your account is £1 or less when we close it we'll donate it to our charity partner instead. If you'd prefer to receive this money, please call us on 0345 608 2828.

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I don't think this is my account

Some accounts were opened a long time ago, and may have been opened when you lived at a previous address so the details we hold on our system may not be up to date. If we have written to you at a new address, this is because we've done an address search and we think you live at this address so please complete and return any reply slips in your letter. If you need any further help, please call us on 0345 608 2828 to look into your accounts. Please have your previous addresses to hand when you call.

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I need this information in another format:

If you need this communication in another format, such as large print, Braille or audio CD, please contact us.

You can call us using Relay UK if you have a hearing or speech impairment. There's more information on the Relay UK help pages relayuk.bt.com

If you need support due to a disability please get in touch on 0345 608 2828.

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I need help and support to manage my savings

If you have any questions, or if you are worried and need support managing your money, please get in touch and we'll be happy to help on 0345 608 2828 or +44 1902 428311 if you're calling from abroad.

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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 www.moneyadviceservice.org.uk.