Brittania savings

icicles

Does anyone know if it is definite that Britannia savings are fully covered by the FCA? I note that Britannia is not now known as a Building Society & the last sentence on MSE 'The Are My Savings Safe' is a concern.

I do not have any money in the Co-operative Bank or Smile linked accounts so that is not an issue.

Britannia is offering 1.4% on a 'Select Access Saver 10 account which allows 4 withdrawals per calendar year. Is this too good to be true as I cannot afford to lose moving house money?
If you know of any other Easy Access non internet accounts with a similar interest rate your thoughts will be much appreciated.



These banks/building societies all share one lot of £85,000 protection

• Britannia
• Co-operative Bank
• Smile

This means, if you have accounts with more than one of these, you should check how much it is and be aware of how much is protected.
Warning! Due to ongoing or recently completed mergers, the full situation with these companies is slightly more complex

eskbanker

The definitive list of which brands are protected by FSCS is published at https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2019/bankandsavingslist050619.pdf and this does confirm that Britannia is included within the Co-operative Bank's licence.

davidwatts

Your money will be safe enough if you stay within the FSCS limit with all Co-op/Smile/Britannia accounts.

Britannia pretty much just lives on as a brand name now, used by Co-op for some of it's savings products. I'd view it as a Co-op bank account under the Britannia brand name.

Albermarle

Britannia is offering 1.4% on a 'Select Access Saver 10 account which allows 4 withdrawals per calendar year.

There are accounts paying 1.4 to 1.5% with unlimited access.
https://www.moneysupermarket.com/savings/

davidwatts

Albermarle wrote: »

There are accounts paying 1.4 to 1.5% with unlimited access.
https://www.moneysupermarket.com/savings/

Any that are "non-internet" though? (As per OP).

icicles

Hi David Yes you picked up on my issue of not wanting an internet account. There are not many left that still offer phone and post now, Coventry BS was good but have now dropped their rates so that is why I was for something better.
Thanks again for the link, I will proceed with caution.

DrSyn

If you are happy with Phone & Postal accounts have a look here:-

https://www.thisismoney.co.uk/money/saving/article-1604879/Best-savings-rates-Telephone-postal-phone-accounts.html


Otherwise just for branch accounts, you will find them further down this web page:-

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

Hope they are of some help!

icicles

Hi DrSyn
Many thanks for both links which I have saved for the future. Britannia has one of the best rate for the moment.

Neil_Sawdon

Hi, I opened a Britannia Select Access 10 in October, I applied online and later I received a letter about how to put money in etc. At the bottom of the letter it says The Co - op bank is regulated by the Prudential Regulation Authority and also the Financial Conduct Authority and that Britannia is a trading name for The Co-op Bank PLC.
All went well for me, when I ring them it's quick to get through and they are pleasant to talk to although when you put money in - ask for a statement or you will be wondering if your money is in or not, I rang for a statement and was a lot happier when it arrived. .

icicles

Hi Neil
Many thanks for your reply. I took a chance around the same time as you opened your account. The opening cheque took a long time to process, that might have been due to heavy demand, they did apologize but as you say there was no receipt. After the 3rd deposit they sent a letter with a sort of cash ticket receipt confirming the amount, hopefully a statement will arrive showing the total amount saved in due course. I agree with your other comments, so far it is all ok. We must watch to see if the variable rate drops.


I hope you will enjoy using this amazing MSE Forum with all the excellent advice members give.


Kind regards
Lin