Bradford & Bingley

29th September 2008

The government announced today (29 September 2008) that the retail deposits of Bradford & Bingley have been sold to Abbey to protect the savings of more than 2.5m savers with the bank.

Customers of the bank can access their accounts in the normal way through branches, the internet and telephone banking. The bank will continue to operate and its staff will continue to provide a full banking service to their retail customers.

All your account details, facilities and terms remain the same and you do not need to do anything. You do not need to make a claim with the Financial Services Compensation Scheme.

All amounts held by retail depositors in Bradford & Bingley have been safeguarded by being transferred to Abbey, not just the first �35,000 of a customer's deposits, would have been ordinarily protected by the FSCS. Following that transfer, all eligible retail depositors with accounts held in Abbey now benefit from the usual FSCS protection of �50,000.