General notice to all Wesleyan Bank savings customers

We are closing these Wesleyan Bank savings accounts:

  • Classic Account
  • Cash ISA
  • Cheque Account
If you have not received a letter from us informing you that we are closing your account. Please read Section A below.
If you have received a letter from us informing you that we are closing your account.

If you have already taken the following actions, you do not need to do anything further and you do not need to read Section B.

Actions taken:

You have provided us with your nominated bank account details (or we already hold those details for you).

(if you would like to close your account before the closure date in our letter to you) You have asked us to close your account.

If your account is an ISA - you have already opened a new ISA with a new ISA provider and asked your new ISA provider to transfer the total amount in your Wesleyan Bank ISA to them.

If you have not yet taken the above actions, please read Section B below.

Cash Junior ISA customer

Please read this if you are the registered contact of a Cash Junior ISA.

We will no longer be an ISA manager.

It's important you transfer the total amount in the Junior ISA to a new Junior ISA provider as soon as possible.

Need help?

You can call us on 0800 358 1122 Monday to Friday, 9am to 5pm or email us at [email protected].

How to make a complaint

If you would like to make a complaint, you can contact us by calling us on 0800 358 1122 Monday to Friday, 9am to 5pm or emailing us at [email protected].

You can also write to the Head of Banking Services, Wesleyan Bank Ltd, PO Box 5500, First Avenue, Westfield Trading Estate, Radstock, BA3 9DG.

If you’d like to know more about our complaints procedure, including how long it’ll take us to respond and what you can do if you remain dissatisfied with our response, please visit www.wesleyanbank.co.uk/complaints.

SECTION A

Please read this section if you have not received a letter from us informing you that we are closing your account.

We are closing your Wesleyan Bank savings account. Please see the table below for more information.

We have tried our best to contact you using the contact details you gave to us (including through our tracing agents) but we have been unable to contact you or not heard back from you. You can call us on 0800 358 1122 Monday to Friday, 9am to 5pm or email us at [email protected].

 

Account Closing date Actions you can take

Classic Account

and

Cheque Account

 17/07/2024

You can close your account before the closing date or let it close on the closing date.

We need your bank account details to repay your deposit and interest earned. We’ll pay you interest right up to, and including, the day before the date we make the payment to you. 

Please provide your bank account details before Friday, 28 June 2024. If you don’t, we’ll close your account and pay to a trust, as soon as possible after the closure date, an amount equal to your deposit and interest earned right up to, and including, the day before the date we close your account.

See Further Information Note 1: What is a trust? - below for more information on what a trust is.

Our FAQs at www.wesleyanbank.co.uk/help explain what information we need and how you can send this to us.

Cash ISA

 17/07/2024

Transfer your ISA to a new ISA provider

If you wish to keep your ISA tax benefits you must transfer the total amount in your ISA to a new ISA provider.

Our FAQs at www.wesleyanbank.co.uk/help explain how to transfer your ISA.

The transfer process isn’t immediate so please do so as soon as possible.

If we don’t hear from your new ISA provider before the closing date, we’ll close your ISA. Once your ISA is closed, you cannot transfer it to a new ISA provider. You’ll lose the tax benefits on your ISA. The tax treatment on your savings will change and the interest income will stop being tax-free.

Close your ISA

If your ISA is closed and the total amount in your ISA is not transferred to a new ISA provider, you will lose the tax benefits on your ISA. The tax treatment on your savings will change and the interest income will stop being tax-free.

You can close your ISA before the closing date or let it close on the closing date.

We need your bank account details to repay your deposit and interest earned. We’ll pay you interest right up to, and including, the day before the date we make the payment to you.

Please provide your bank account details before Friday, 28 June 2024. If you don’t, we’ll close your ISA and pay to a trust, as soon as possible after the closure date, an amount equal to your deposit and interest earned right up to, and including, the day before the date we close your account.

See Further Information Note 1: What is a trust? - below for more information on what a trust is.

Our FAQs at www.wesleyanbank.co.uk/help explain what information we need and how you can send this to us.

Further Information Note 1: What is a trust?

A trust is a legal arrangement where a trustee will hold, for your benefit, an amount equal to your deposit and interest. See Further Information Note 2 – Interest Amounts - below for more information.

The proposed trustee of the trust is Hampshire Trust Bank plc.

Hampshire Trust Bank plc is the parent company of Wesleyan Bank and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The payment of an amount equal to your deposit and interest to a trust will not affect our contractual obligations to you.

Amounts held on trust will not accrue interest.

Further Information Note 2: Interest Amounts

 

Account Amounts held in trust

Classic Account

Cash ISA

Cheque Account

An amount equal to your deposit plus interest earned up to and including the day before the date of closure of your account.

 

SECTION B

Please read this section if you have received a letter from us informing you that we are closing your account and you have not yet taken any of the following actions:

Actions you need to take:

  • Let us know if you want us to close your account before the closure date referred to in our letter to you.
  • Provide us with your nominated bank account details.
  • If your account is an ISA, transfer your ISA to a new ISA provider.


We’ve already told you when your account will be closed in our letter. This closure date will not change. The closure date in Section A of this General Notice does not apply to you.

 

If you would like to close your account before the closure date in our letter to you.

 You can call us on 0800 358 1122 Monday to Friday 9am to 5pm or email us at [email protected].

If we have asked you for your nominated bank account details but you have not yet provided this.

Please provide this as soon as possible.

Our FAQs at www.wesleyanbank.co.uk/help explain what information we need and how you can send this to us.
If your account is an ISA and you would like to transfer your ISA to a new ISA provider.

You need to open a new ISA and ask your new ISA provider to transfer the total amount in your Wesleyan ISA to them.

The transfer process isn’t immediate so please do so as soon as possible.

Our FAQs at www.wesleyanbank.co.uk/help explain how to transfer your ISA.