Ring Fencing

Some major UK banks need to ring-fence their retail and business banking from more complex banking such as wholesale and investment banking. These new rules are being introduced by the Government as part of the Bank Structural Reform Legislation to strengthen the UK banking industry and protect customers and taxpayers, and must be in place by 1 January 2019.

Bank of Ireland (UK) plc is not impacted by this change

If you have an account/s with another bank which is impacted, they will tell you how you are affected, when the changes take place and whether you need to do anything. When you receive any communications regarding your banking arrangements or financial circumstances we would advise all customers to remain alert to the possible risk of fraud:

  • Treat all letters, phone calls, emails and text messages with caution. Don’t assume they are genuine, even if the person seems to know some basic information about you.
  • Do not give out your account or card details or make changes to payments unless you are certain who you are dealing with.
  • Never disclose security details, such as your PIN or online banking password. Your bank or other genuine organisation will never ask you for these.
  • Don’t be rushed or pressured into making a decision or acting quickly. A genuine bank or other organisation won’t mind waiting if you want time to think.

Always use contact details you can trust, for example the phone number on your bank statement, rather than any details provided in the communication in question.