Birmingham Midshires is a division of Bank of Scotland plc and is part of the Lloyds Banking Group. It was formed in 1986 through the merger of the Birmingham and Bridgwater and Midshires Building Societies. In 1999, the former Halifax acquired Birmingham Midshires, which had savings balances of 5.9 billion pounds sterling and mortgage assets of 9.2 billion pounds sterling. At Birmingham Midshires, everything is the same; the formation of the new group will not entail any immediate changes to our savings accounts. Customers who still want to use the branches will be able to use the Halifax branches, which in 75% of cases will involve walking less than 300 meters.
The bank has also promised that the 470 full and part-time employees affected by the decision will be offered alternative work in the Birmingham Midshires or in Halifax. The 700,000 customers in Birmingham Midshire cannot use the 1,100 Halifax and Bank of Scotland network, but 80,000 are regular users of their branches. The Royal Bank of Scotland was about to complete an acquisition at the time, but the merger of Bridgwater and Midshires, 26% of Birmingham's construction companies, in 1986, gave rise to Birmingham Midshires. Both Birmingham Midshires and Lloyds Bank will continue to operate separately, with different telephone numbers and online systems. The savings of Birmingham Midshires and Lloyds Bank are covered separately by the Financial Services Compensation Plan (FSCS). This means that you will only be entitled to a total of 85,000€ of FSCS protection (even if you save with more than one of these brands).
What is FSCS protection? It is a safety net for customers if their bank were to fail. Birmingham Midshires is an online trading name of Bank of Scotland plc (part of Lloyds Banking Group). It is headquartered in Pendeford Business Park, Wolverhampton. It previously had 67 branches in England and Wales. Find out who the owner of your bank is by searching the menu above.
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