Britannia

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 £50,000. 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 £50,000 each (making a total of £100,000). The £50,000 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) please ask at your local branch, refer to the FSCS website www.fscs.org.uk  or call on 020 7892 7300.

Britannia and smile are trading names of The Co-operative Bank. As such, the £50,000 compensation limit applies to the combined amount of deposits held with The Co-operative Bank, smile and Britannia.

However, if you held accounts, which were covered by the FSCS, with both The Co-operative Bank (including smile) and with Britannia Building Society immediately prior to the date of merger of the two organisations on 1 August 2009, then until 30 December 2010 those accounts with each of the Bank and Britannia are covered for up to £50,000 each ie £50,000 for your Co-operative Bank account(s) and £50,000 for your Britannia account(s).

Although the vast majority of our customers will be covered by the FSCS, in line with the maximum amount per person, certain customers are not covered. The exclusions include large businesses or organisations, large companies, large mutual associations and local authorities.

You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Mortgage
Mortgage advising and arranging is covered up to a maximum limit of £50,000.

Insurance
Insurance advising and arranging is covered for 90% of the claim, without any upper limit.