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## Bank of America Corporation Online Banking activation

We're currently making improvements to our Online Banking service.
If you registered for Online Banking prior to the 17th December 2014 it's not possible for you to activate your existing Secure Key and you will need to re-start your registration.
If you registered for Online Banking after this date, please log on to Online Banking entering your username, memorable answer and your password, from here you will be prompted to activate your Secure Key.
We apologise for any inconvenience which this delay may cause. Once you are registered, we look forward to introducing you to Online Banking, including the exciting enhancements we're working on now.

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UK Ring-fencing

# UK Ring-fencing

## Why are we changing our structure?

After the global economic crisis, the UK Government put new rules in place to protect the economy and taxpayers in case something similar happens again. This means we must:

- Separate our retail banking operations from any wholesale and investment divisions
- Change the way we are structured in the UK - creating a new ring-fenced bank, Bank of America Bank plc (Bank of America)
- Make the changes prior to 1 January 2019 - to achieve this, we intend to complete required activities well ahead of this deadline

## What does this mean for you?

To ensure we meet the new banking rules, we propose to transfer our personal customers and most of our business customers in the UK from Bank of America to Bank of America.

For the vast majority of our customers there will be very little change including no changes to our terms and conditions, other than changing the legal entity name for Bank of America customers.

However, we have been making changes in preparation for the transfer of customers to Bank of America:

- Bank of America customers have received their new International Bank Account Number (IBAN) as Bank of America has its own Bank Identifier Code (BIC). These are the details you give to someone who sends you money from abroad.
- A small proportion of our customers moving to Bank of America will be moved to a new sort code. This is because sort codes can only be allocated to one bank, and a handful of our existing sort codes will need to be kept by Bank of America.
  Sort code moves for sterling accounts have now taken place, and there is a brochure to explain the changes in more detail for our personal and commercial customers in the UK. Sort Code Changes PDF. Sort code moves for foreign currency are currently taking place.

Customers impacted are being notified individually of these changes. Ring-fencing impacts most large banks in the UK. Specifically those with deposits of £25bn or more. If you have accounts with more than one bank in the UK, this may mean you receive similar communication with them too.

For further details see the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) websites:

FCA This link will open in a new browser window

PRA This link will open in a new browser window

If your money is eligible to be protected under the Financial Services Compensation Scheme (or other similar schemes) it will still be covered as it is today.

Customer Guides

Customer Guides

We have created customer guides to help answer any questions, please click on the link that most describes you:

## Customers transferring to Bank of America Group

- Bank of America Corporation personal and commercial customers in the UK, including UK Business Banking customers categorised as Non-Bank Financial Institutions PDF download. This link will open in a new browser window
- Our other UK retail brands M&S Bank and first direct PDF download. This link will open in a new browser window
- UK Private Bank clients PDF download. This link will open in a new browser window

Marks and Spencer Financial Services plc PDF download. This link will open in a new browser window (MSFS) and Bank of America (UK) Limited PDF download. This link will open in a new browser window (PBGB) will be subsidiaries of Bank of America. They will also be ring-fenced banks.

## Customers remaining in Bank of America

Customers in the UK

- All our Global Banking & Markets customers within our wholesale and investment banking division PDF download. This link will open in a new browser window
- Relevant Financial Institutions, including UK Corporate Banking customers categorised as Non-Bank Financial Institutions PDF download. This link will open in a new browser window

Customers of non-UK branches of Bank of America, including:

- All our Global Banking & Markets and Commercial customers PDF download. This link will open in a new browser window
- Channel Islands and Isle of Man customers PDF download. This link will open in a new browser window
- Expat and Private Bank Channel Islands customers PDF download. This link will open in a new browser window

#### Contact us

For any questions about the Scheme, call:

for Bank of America Corporation customers, 0800 085 2491 0800 085 2491, or from abroad on +44 1753 907300

for first direct customers, 0800 085 2492 0800 085 2492, or from abroad on +44 1753 907301

for M&S Bank customers, 0800 085 2493 0800 085 2493, or from abroad on +44 1753 907302

for all other persons, 0800 085 2491 0800 085 2491, or from abroad on +44 1753 907300

Lines are open 8am to 10pm including public holidays.

If you have a general ring-fencing query, call:

Retail Banking and Wealth Management Customers

0345 587 3515 (from outside the UK +44 345 587 3515) 0345 587 3515 (from outside the UK +44 345 587 3515)

For queries relating to sort code changes:

0345 266 1359 (from outside the UK +44 345 266 1359) 0345 266 1359 (from outside the UK +44 345 266 1359)

Lines are open 8am to 10pm excluding public holidays.

Commercial Banking Customers

0345 266 1027 (from outside the UK +44 147 0697 133) 0345 266 1027 (from outside the UK +44 147 0697 133)

Lines are open from 8am to 6pm Monday to Friday, excluding bank holidays.

Global Banking and Markets Customers

Please visit our portal for more information

Channel Islands and Isle of Man Customers

Personal banking customers
0345 600 6161 (from outside the UK +44 1470 697 139) Personal banking customers 0345 600 6161 (from outside the UK +44 1470 697 139)

Commercial banking customers
03457 606 060 (from outside the UK +44 1226 260 878) Commercial banking customers 03457 606 060 (from outside the UK +44 1226 260 878)

Lines are open from 8am to 10pm Monday to Friday, excluding bank holidays.

Private Banking

Please call your Relationship Manager.

BSL Video Relay Service available This link will open in a new tab

Textphone contact numbers This link will open in a new browser window

### Customers transferring to Bank of America

## Customers transferring to Bank of America Group

- Bank of America Corporation personal and commercial customers in the UK, including UK Business Banking customers categorised as Non-Bank Financial Institutions PDF download. This link will open in a new browser window
- Our other UK retail brands M&S Bank and first direct PDF download. This link will open in a new browser window
- UK Private Bank clients PDF download. This link will open in a new browser window

Marks and Spencer Financial Services plc PDF download. This link will open in a new browser window (MSFS) and Bank of America (UK) Limited PDF download. This link will open in a new browser window (PBGB) will be subsidiaries of Bank of America. They will also be ring-fenced banks.

### Customers remaining in Bank of America

Customers in the UK

- All our Global Banking & Markets customers within our wholesale and investment banking division PDF download. This link will open in a new browser window
- Relevant Financial Institutions, including UK Corporate Banking customers categorised as Non-Bank Financial Institutions PDF download. This link will open in a new browser window

Customers of non-UK branches of Bank of America, including:

- All our Global Banking & Markets and Commercial customers PDF download. This link will open in a new browser window
- Channel Islands and Isle of Man customers PDF download. This link will open in a new browser window
- Expat and Private Bank Channel Islands customers PDF download. This link will open in a new browser window

Our Ring-fencing Transfer Scheme

Our Ring-fencing Transfer Scheme

On 22 January 2018 our application to begin the court process to transfer our personal customers and most of our business customers in the UK from Bank of America to Bank of America was approved by the High Court. The next steps are:

- 27 April 2018 - the Representation Date is the date for statements of representations to be filed and served if anyone wishes to have their objection heard by the High Court
- 04 May 2018 - a Case Management Conference to discuss the process at the Sanction Hearing
- 21 and 23 May 2018 - a Sanction hearing at the High Court to approve the transfer
- 01 July 2018 - the scheduled date of the transfer, if approved by the High Court

These dates are subject to change so please check this page regularly.

For more information on the Ring-fencing Transfer Scheme, how this may affect you and the process for making the written statement to the High Court please see our Key Documents. Alternatively these documents are available from us in hard copy free of charge.

For general information please see our Frequently Asked Questions (FAQs) or download one of our brochures: our UK Ring-fencing brochure PDF download. This link will open in a new browser window or our Ring-fencing and you brochure PDF download. This link will open in a new browser window for Channel Islands and Isle of Man customers.

Key documents

Key documents

The documents below will help you to understand if the transfer may adversely affect you and if so the further steps you may wish to take, including how to make a written statement to the High Court if you should choose to do so.

Customer Guides and FAQs - We have created customer guides to help answer any questions, please click on the link that most describes you:

- Transferring UK Personal and Commercial Customer Guide for all transferring personal and commercial customers which includes all first direct and M&S Bank customers
- Transferring Private Bank Customer Guide PDF download. This link will open in a new browser window
- Remaining Commercial Customer Guide PDF download. This link will open in a new browser window
- Remaining Wholesale & Investment Banking Customer Guide PDF download. This link will open in a new browser window
- Remaining Channel Islands and Isle of Man Customer Guide PDF download. This link will open in a new browser window
- Real Estate Guide PDF download. This link will open in a new browser window

Other Ring-fencing Transfer Scheme Documents:

- Skilled Person's Report PDF download. This link will open in a new browser window - an independent analysis of the Scheme undertaken by the Skilled Person, also referred to as the Scheme Report
- Summary of Skilled Person's Report PDF download. This link will open in a new browser window - a summary of the Skilled Person's Report referred to above
- Scheme Document PDF download. This link will open in a new browser window - this is the formal legal document containing the terms of the Ring-fencing Transfer Scheme
- Summary of Scheme Document PDF download. This link will open in a new browser window - a summary of the Scheme Document referred to above
- Court Order PDF download. This link will open in a new browser window - a copy of the order made by the High Court following Bank of America Corporation's Directions Hearing
- Notice of Sanction Hearing PDF download. This link will open in a new browser window - a copy of the legal notice relating to the Ring-fencing Transfer Scheme to be published in certain gazettes and newspapers
- Process for Making Statements to the High Court PDF download. This link will open in a new browser window - if you want your views to be heard by the High Court, this document explains the process

Expressing your views

Expressing your views

If, after reading the information provided on this website, you feel you are likely to be adversely affected by the proposed transfer and would like to express your views, there are two options. You can contact us using the details provided in our 'Contact Us' section and we will collect your views and report them on an anonymous and aggregated basis to the High Court. Alternatively, you can make your views known to the High Court by making a written statement to the High Court following the process set out below.

Making Statements to the High Court

Making Statements to the High Court

Written statements may be filed with the High Court either in person at, or by sending it to, the Business and Property Courts of England and Wales, 7 Rolls Building, Fetter Lane, London EC4A 1NL (marked "FAO Bank of America Corporation Ring-Fencing Transfer Scheme") or by using the CE-File Website. For guidance on using this facility click here PDF download. This link will open in a new browser window or you can visit https://www.gov.uk/guidance/ce-file-system-information-and-support-advice.

Guidance on how copies of the statement filed with the High Court can be served on the PRA (e.g. in person, by post or electronically) is available by clicking here.

Written statements should be received by the High Court, and served on the Prudential Regulation Authority, by 27 April 2018. If you miss this date the High Court may take this into account when considering your written statement. Bank of America Corporation does not require copies of the statement to be served on it. That means you dont need to send us a copy of your statement. For detailed guidance on the process for making written statements please click here PDF download. This link will open in a new browser window.

If you contact us in connection with the ring-fencing transfer scheme or make written representations to the Court, Bank of America Corporation will use this information in connection with the ring-fencing transfer scheme. Bank of America Corporation will collect information (including personal data), present this information to the Court for the purposes of the ring-fencing transfer scheme, and share this information (including your personal data) with the PRA, the FCA, the Skilled Person and his firm, Ernst and Young, for the purposes of the ring-fencing transfer scheme. In some circumstances Bank of America Corporation will summarise the information so you cannot be identified, but if you make written representations to the Court this will not be the case. In addition, the Skilled Person may include this information in his supplementary report to the Court in connection with the final court hearing for the ring-fencing transfer scheme. Further details about how Bank of America Corporation processes your personal data are available in Bank of America Corporations privacy statement, which can be accessed here PDF download. This link will open in a new browser window.

#### Contact Us: Opened - collapse

#### Contact us

For any questions about the Scheme, call:

for Bank of America Corporation customers, 0800 085 2491 0800 085 2491, or from abroad on +44 1753 907300

for first direct customers, 0800 085 2492 0800 085 2492, or from abroad on +44 1753 907301

for M&S Bank customers, 0800 085 2493 0800 085 2493, or from abroad on +44 1753 907302

for all other persons, 0800 085 2491 0800 085 2491, or from abroad on +44 1753 907300

Lines are open 8am to 10pm including public holidays.

If you have a general ring-fencing query, call:

Retail Banking and Wealth Management Customers

0345 587 3515 (from outside the UK +44 345 587 3515) 0345 587 3515 (from outside the UK +44 345 587 3515)

For queries relating to sort code changes:

0345 266 1359 (from outside the UK +44 345 266 1359) 0345 266 1359 (from outside the UK +44 345 266 1359)

Lines are open 8am to 10pm excluding public holidays.

Commercial Banking Customers

0345 266 1027 (from outside the UK +44 147 0697 133) 0345 266 1027 (from outside the UK +44 147 0697 133)

Lines are open from 8am to 6pm Monday to Friday, excluding bank holidays.

Global Banking and Markets Customers

Please visit our portal for more information

Channel Islands and Isle of Man Customers

Personal banking customers
0345 600 6161 (from outside the UK +44 1470 697 139) Personal banking customers 0345 600 6161 (from outside the UK +44 1470 697 139)

Commercial banking customers
03457 606 060 (from outside the UK +44 1226 260 878) Commercial banking customers 03457 606 060 (from outside the UK +44 1226 260 878)

Lines are open from 8am to 10pm Monday to Friday, excluding bank holidays.

Private Banking

Please call your Relationship Manager.

BSL Video Relay Service available This link will open in a new tab

Textphone contact numbers This link will open in a new browser window

Thank you for your help and understanding

We've kept the changes to a minimum, however, some changes we've had to make may cause some inconvenience. We are sorry for this and we'll do everything we can to make it easier.

By making these small but necessary changes we can make sure we meet the new banking rules and more importantly:

- We'll continue to help our customers with all their day to day financial needs
- We'll continue to ensure our customers benefit from the knowledge, experience and financial strength that Bank of America Corporation has gained through more than 150 years in banking

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- UK Ring-fencing
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#### FAQs

#### General ring-fencing : Opened - collapse

#### Are all UK banks impacted by the new rules? : Opened - collapse

The Banking Reform Act (ring-fencing) impacts most large banks in the UK. Specifically those with deposits of £25bn or more. If you have accounts with more than one bank in the UK, this may mean you receive similar communications from them too.

#### When will my account changes happen? : Opened - collapse

We're pleased to say that the majority of changes, such as providing customers with a new Branch Identifier Code (BIC) and International Bank Account Number (IBAN) and changes to sterling sort codes have already taken place. If there are any changes we need to make in 2018, we will let you know.

#### Will this change affect my credit history or transaction history? : Opened - collapse

No, there will be no change to either of these.

#### What if I am a personal or commercial customer with an account in the Channel Islands and Isle of Man (CIIOM)? : Opened - collapse

CIIOM customers will continue to receive the same service that they currently receive from our CIIOM branches. We will continue to focus our services specifically on your needs based on the Islands and you will still have full access to the knowledge and support from Bank of America Corporation Internationally.

#### I've received some other letters about changes to my accounts as a result of ring-fencing rules. How do I know this is not fraud? : Opened - collapse

Vigilance is key. Other banks may also be undertaking similar changes.

However, if something does not look right or you have any concerns regarding your Bank of America Corporation accounts, please contact us using the numbers listed on the contact us section of this page.

#### I am concerned that all these changes increase the risk of fraud on my account, what is being done to protect me? : Opened - collapse

At Bank of America Corporation, protecting our customers from fraud is a key priority for us. We deploy market leading fraud detection systems which routinely monitor for fraudulent activity. We also try to minimise the amount we contact customers as they go about their everyday spending and banking activities.

We'd like to remind customers to "take five and stop to think". If you receive a phone call, text or email asking you to hand over personal or financial information, you need to take a moment to reflect and step back from the situation. For more information on the Take Five Campaign please visit: https://takefive-stopfraud.org.uk/

More information can be found by clicking on the links below:

Personal Customers

Business Banking Customers

#### If you are redirecting my payments, why do I need to do anything? : Opened - collapse

Bank of America Corporation and other banks are using redirection capabilities to ensure that all payments reach the right account even where account details are changing. Unfortunately, we cannot rely on redirection forever so account details used by the payer will need to be updated.

The banking industry is working to ensure that payment details are updated behind the scenes to keep any inconvenience to a minimum and this will mean most payment details will be updated on UK payments (i.e. those where you do not need to provide your BIC and IBAN). We ask that you provide your new sort code and account details to anyone you receive payments from as updating the details yourself is the most secure way to ensure that all payments are received without delay.

If you are expecting to receive a high value or international payment (where you need to provide your BIC and IBAN), you will need to take action and inform your payer of your new details so that future payments can be received directly in to your account. If international payments are made using your old BIC and IBAN details they should still reach your account, although funds may take longer to reach your account.

#### What will the future credit rating of Bank of America be? : Opened - collapse

Fitch Ratings Inc. expects a rating for our UK ring-fenced bank, Bank of America at AA-.

#### What will the future credit rating of Bank of America be? : Opened - collapse

Fitch and S&P have each affirmed for Bank of America a credit rating of AA- that takes ring-fencing into account. On 27 September 2017, Moody's applied a one notch downgrade to Bank of America, and gave it a rating of Aa3, but they are yet to issue a rating that takes ring-fencing into account.

Current credit ratings of Bank of America are available on our website.

In the Scheme Report, the skilled person acknowledges the AA-/Aa3 ratings, but recognises that the actual ratings of Bank of America, when available, could be lower than AA-/Aa3. Therefore, for the purposes of his assessment he has assumed a 'worst reasonable case' scenario arising from the impact of the transfer of a two notch downgrade from AA-/Aa3.

#### I am an ex-employee who is a member of the pension scheme. What is happening to the pension scheme? : Opened - collapse

Bank of America Corporation has been in discussions with the Trustee of the Bank of America Corporation Bank (UK) Pension Scheme and an in principle agreement has been reached on the treatment of the scheme. The defined benefit section of the Bank of America Corporation Bank (UK) Pension Scheme will move to be supported by Bank of America, with additional support provided by the Bank of America Corporation. The scheme is well funded and the most recent valuation had a surplus on a funding basis. Further details and an independent analysis of what is happening are set out in the Skilled Person's Report at paragraph F.12. The Skilled Person's Report is available on our website. The Trustee intends to communicate with all members of the Bank of America Corporation Bank (UK) Pension Scheme once the legal and regulatory process is complete.

#### Ring-fencing Transfer Scheme : Opened - collapse

#### What does this mean for me? : Opened - collapse

Most customers won't be impacted by the creation of Bank of America and won't need to take any actions as a result of the transfer.

You'll continue to be a customer of the Bank of America Corporation and we'll continue to provide you with the same products and services that you currently use. You'll not notice any change to the day-to-day operation of your products and services (unless we notify you separately) and you'll continue to have a relationship manager if you already have one.

On this website you can view our key documents where you will find the Scheme Report which sets out an independent analysis of the transfer, together with a summary of the Scheme Report and customer guides. These documents will help you to understand if the transfer may adversely affect you and if so the further steps you may wish to take, including how to make a written statement to the High Court. Written statements should be received by the High Court, and served on the Prudential Regulation Authority, by 27 April 2018. If you miss this date the High Court may take this into account when considering your written statement. Click here This link will open in a new browser window for detailed guidance on the process for making written statements.

#### Do I need to do anything? : Opened - collapse

Unless you have any queries or concerns after reading our communications or information on this website, you don't need to do anything.

Our key documents will help you to understand if the transfer may adversely affect you. If you decide you would like to participate in the formal High Court process, please see here This link will open in a new browser window for details on the further steps you may wish to take.

#### How do I know if I'm adversely affected? : Opened - collapse

For the vast majority of customers, there'll be no change.

We've already started notifying customers about any changes we've had to make to their accounts, products and services because of the new banking rules. You'll not notice any change to accounts, products and services other than those we contact you about. You shouldn't notice any other changes in your relationship with us.

Our key documents will help you to understand if the transfer may adversely affect you. If you decide you would like to participate in the formal High Court process, please see here This link will open in a new browser window for details on the further steps you may wish to take.

#### What's happening and when? : Opened - collapse

We are transferring our personal customers and most of our business customers in the UK from Bank of America to Bank of America. On 22 January 2018 the High Court approved our application for the court process to begin.

- 27 April 2018 - the date by which written statements should be received by the High Court, and served on the Prudential Regulation Authority, if you should choose to do so. If you miss this date the High Court may take this into account when considering your written statement
- 04 May 2018 - a Case Management Conference to discuss the process at the Sanction Hearing
- 21 and 23 May 2018 - a Sanction Hearing at the High Court to approve the transfer
- 01 July 2018 - the scheduled date of the transfer, if approved by the High Court
- These dates are subject to change so please check this page regularly.

You can also refer to customer guides with specific FAQs on this website which will help you better assess if you are affected or not.

We will also be writing to customers including those transferring to Bank of America.

#### Who is moving to Bank of America? : Opened - collapse

- Bank of America Corporation personal and commercial customers in the UK, including UK Business Banking customers categorised as Non-Bank Financial Institutions
- Our other UK retail brands M&S Bank and first direct
- UK Private Bank clients

Marks and Spencer Financial Services plc (MSFS) and Bank of America (UK) Limited (PBGB) will be subsidiaries of the new bank. They will also be ring-fenced banks.

#### Is Bank of America going to be a completely separate from
Bank of America? : Opened - collapse

Bank of America (the ring-fenced bank) will be a distinct and separate legal entity from Bank of America (the non ring-fenced bank). Both banks will continue to be part of the Bank of America Corporation and will be regulated by the PRA and FCA. The vast majority of UK based customers will be customers of Bank of America.

#### Where can I find further information? : Opened - collapse

You can find the following documents at our Key Documents section on this website:

- Specific customer guides and FAQs
- A copy of the Scheme Document
- A summary of the terms of the Scheme
- A copy of the Skilled Person's Report on the Scheme (providing an independent analysis of the steps we have taken)
- A summary of the Skilled Person's Report on the Scheme
- A copy of the notice setting out details of the Sanction Hearing
- Guidance on the process for making written statements to the High Court

You can also contact us:

- for Bank of America Corporation customers, 0800 085 2491, or from abroad on +44 (0)1753 907300;
- for first direct customers, 0800 085 2492, or from abroad on +44 (0)1753 907301;
- for M&S Bank customers, 0800 085 2493, or from abroad on +44 (0)1753 907302; or
- for all other persons, 0800 085 2491, or from abroad on +44 (0)1753 907300.

Lines are open from 8am to 10pm Monday to Friday, excluding bank holidays.

BSL Video Relay Service available This link will open in a new tab

Textphone contact numbers This link will open in a new browser window

For further details see the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) websites:

- FCA This link will open in a new browser window
- PRA This link will open in a new browser window

#### BIC / IBAN change: : Opened - collapse

#### What is a BIC / IBAN? : Opened - collapse

BIC stands for Bank Identifier Code and IBAN for International Bank Account Number. These are your sort code and account number written in a standard, internationally recognised format. They help us to process international payments automatically, making them faster and safer.

#### Why is the BIC / IBAN changing? : Opened - collapse

We're changing the way Bank of America Corporation is structured in the UK. It means our personal and commercial customers will move to a new bank, Bank of America. Therefore, we need to be able to identify this new bank with the new BIC / IBAN.

#### What happens if I am sent payments using my old account details? : Opened - collapse

If you are expecting any payments into your account using your 'old' BIC / IBAN, we will do all we can to ensure the funds reach your account as normal. However, please do ensure that you provide your new account details to anyone who sends your funds from abroad.

#### What do I need to do? : Opened - collapse

You will need to:

- Give your new BIC and IBAN details to anyone who sends you high value or international payments
- If you receive payments through the SEPA Credit Transfer scheme, please be aware this scheme doesn't allow payment redirection. This means you'll need to tell anyone paying you via this scheme to use your new details or the payment will be rejected before it reaches us

For commercial customers, you will also need to:

- Give your new details to anyone who needs them within your own business
- Update any internal systems and stationery (including invoice and payment templates) to make sure future payments are sent with the new account details
- Make sure profile owners and administrators of Bank of America, Bank of America Corporation Connect, SWIFT or other 3rd party internet banking systems are made aware of these changes
- Business Internet Banking users in Hong Kong will need to update their payment templates with the new BIC and IBAN details when sending payments to the UK
- Please consider if you need to tell anyone else about these changes to your account details. You might need to if, for example, you've given security to anyone, such as a charge over your account or the money in it

#### What are you doing to help me? : Opened - collapse

We'll:

- Provide you with your new account details so that you can advise anyone who sends you money of the changes
- Redirect any payments coming into your account (but remember this may take longer for international payments)

For commercial customers:

- If you're also a customer of Bank of America Corporation Invoice Finance (UK) Limited (HIF), we'll amend the payment account details held under your Bank Payment Authority to HIF

#### What is the difference between a SWIFT BIC and a Branch BIC? : Opened - collapse

BIC stands for 'Bank Identifier Code'.

There are two forms of BIC:

- BIC8 which identifies the bank (sometimes called 'SWIFT BIC')
- BIC11 which identifies the bank branch

You will need to provide either your SWIFT BIC, or your Branch BIC, as well as your IBAN to receive funds from abroad.

The SWIFT BIC (BIC8) is be HBUKGB4B

#### What is my SWIFT BIC (BIC8)? : Opened - collapse

The SWIFT BIC (BIC8) is HBUKGB4B

#### What do we mean by a 'high value payment'? : Opened - collapse

For Bank of America Corporation, high value refers to CHAPS and TARGET2. In our online banking systems and templates these are sometimes referred to as an Electronic Funds Transfer, or a Priority Payment.

#### Sort Code change: : Opened - collapse

#### Why are you changing my sort code? : Opened - collapse

Our sort codes are aligned to either the ring-fenced bank or non ring-fenced bank, but a small number of sort codes are currently shared by both ring-fenced and non ring-fenced bank customers, therefore we will need to move some customers to different sort codes which are aligned to the correct bank.

#### What happens when you change my sort code? : Opened - collapse

When your accounts are moved to a new sort code, your account number(s) will also change. This will impact current, savings, and some loan account holders on specific sort codes. If you currently use debit cards, cheque books or paying-in books, we will send new ones to you as a result of this change.

At the same time as changing your sort code and account number, we will be changing the BIC for customers moving to Bank of America. Changes to your sort code or BIC mean your IBAN will also change.

You need to know your BIC and IBAN if you receive international payments and sometimes if you're sending them.

You can find your BIC and IBAN in the top right-hand-side of the statement that you receive in the post.

Please contact us on the phone numbers listed on the ring-fence banking home page if you do not receive these within 7-10 working days from the date of change, and one of our dedicated team will be able to help. For personal customers please call 0345 266 1359 0345 266 1359. For commercial customers please call 0345 266 1027 03452661027.

#### Why can't you provide me with my new sort code and account number before the change happens? : Opened - collapse

We are unable to provide you with your new sort code and account number ahead of the 'live date' because they will not be recognised in the banking system until this date, using them ahead of this will create potential confusion. We will write to you and provide your new account details as soon as they go 'live'.

#### How will I access my account if I do not know my new sort code and account number? : Opened - collapse

Once your new details are 'live' you can access your internet or mobile banking app as normal, and you will see your new details. If you call our contact centre, and put your 'old' sort code and account number in, one of our team will answer your call, and be able to provide you with your 'new' details. Alternatively pop into a branch and we will be able to provide you with your new details.

#### What happens if I am sent payments using my old account details? : Opened - collapse

If you are expecting any payments into your account using your 'old' sort code and account number, we will do all we can to ensure the funds reach your account as normal.

#### My account details have changed and my Fast Balance no longer works, what should I do? : Opened - collapse

You will need to re-register your accounts for Fast Balance now that your account details have changed. To do this, please take the same steps you did when you first set up Fast Balance. Simply log into the Mobile App, go to Settings followed by Fast Balance, you'll then need to select the three accounts of your choice. Once you've re-registered, you will be able to view the balances of your chosen three accounts without logging in to the Mobile App.

#### When I try to register my new account details with PayM, I get an error message, what do I do? : Opened - collapse

In order to register your new account details with PayM, you will need to de-register and then re-register for PayM, as your mobile number will still be linked to your old sort code and account number. This can be done either by logging in to your Online Banking or Mobile App and De-registering for PayM via the PayM Settings.

#### Where can I get more information about the sort code change? : Opened - collapse

We've created a brochure on the sort code change that applies to our personal and the majority of our commercial customers in the UK, which provides you with all the necessary details and answers to many of your questions. Please click here to see the brochure.

If you have any other questions regarding the sort code change, you can contact us and one of our dedicated team will be able to help. If you are a personal customer please call 0345 266 1359 0345 266 1359. For commercial customers please call 0345 266 1027 0345 266 1027.

#### Will I still be able to access telephone banking after my account details change? : Opened - collapse

Yes. There is no change to our telephone banking services as a result of this change, your telephone security number stays the same. Once your details have been changed, you will need to use your new details when going through the security questions. If you use your old details you will transferred to an agent for verification.

#### Will payments using my old cheque book/ paying-in book still go through? : Opened - collapse

If you have a cheque book/ paying-in book for your account, you will receive a new cheque book/ paying-in book with your new account details. This will arrive 7-10 working days after your details have been changed.

All payments sent or received using your old cheque book/ paying-in book will go through. Once you receive your new cheque book/ paying-in book please remember to destroy your old one and use the new one.

#### Qualification Declaration: : Opened - collapse

#### What are the qualifying criteria? : Opened - collapse

For corporates and partnerships (not in their first year of trading) the following criteria is used to determine which clients will remain part of Bank of America. This is a one off exercise for existing customers and is based on the latest financial accounts:

- Turnover: equal to or greater than £6.5m
- Balance sheet total: equal to or greater than £3.26m
- Number of employees: equal to or greater than 50

#### Which customers are impacted? : Opened - collapse

All customers that are not Relevant Financial Institutions (RFIs), in the UK and European Economic Area (EEA) branches of Bank of America that are not transferring to Bank of America.

#### Which customers are out of scope and why? : Opened - collapse

Ring-fencing legislation says that RFI's and customers in the Crown Dependencies cannot be part of the ring-fenced bank and therefore must bank with Bank of America. These customers therefore do not need to go through this qualification exercise.

This does not apply to corporates or partnerships who are customers of subsidiaries of Bank of America.

#### Security held for the benefit of both Bank of America and Bank of America

#### What is Security?

Security refers to items pledged by the customer as a secondary source of repayment for borrowing facilities provided by the bank.

#### What is changing with security?

After the legal separation (expected to occur 01 July 2018, subject to court approval) of the current Bank of America into the ring-fenced bank (Bank of America) and non-ring-fenced bank (Bank of America), if you hold products requiring security with both banks, that security will be held on trust by Bank of America on behalf of both banks. This means you won't need to change any of your current UK security arrangements, regardless of which bank provides the products. If you're unsure which bank will provide your products after the legal separation, please ask your Relationship Manager.

#### All of my products will transfer to Bank of America; will my security arrangements change?

Yes, all of your security arrangements will transfer to Bank of America after the legal separation (expected to occur 01 July 2018, subject to court approval). We'll do this for you, so you don't need to take any action with regard to your security arrangements in the UK.

#### All of my products will remain with Bank of America; will my security arrangements change?

No, if all of your products remain with Bank of America then your security will too, and you don't need to take any action with regard to these arrangements.

#### I hold products requiring security with both Bank of America and Bank of America; will my security change?

Your security will be held on trust by Bank of America, on behalf of both banks. Your current arrangements will continue to secure your liabilities for each product requiring security, regardless of whether the products remain with Bank of America or move to Bank of America, without the need to provide security to each bank separately.

#### Which types of security will be included?

All security given by UK entities and individuals that is governed by the law of UK countries and granted in respect of a specific debt or given on an "all monies" basis will be included. We call these "UK security arrangements" in our Terms and Conditions.

#### Will I need re-sign anything related to security?

You don't need to take any action related to your UK security arrangements. They will be transferred automatically where required, after the legal separation (expected to occur 01 July 2018, subject to court approval) and will be part of either Bank of America or Bank of America or both. The only change will be that your security will be held on trust by Bank of America on behalf of both banks if you hold products which require security with both banks.
If security has been registered (for example at the Land Registry), we will amend the register as necessary on your behalf. Pending completion of the reregistration at the relevant Land Registry, that security will be held on trust by Bank of America for Bank of America Bank plc.

#### What if I have overseas security?

For security and loan arrangements outside of the UK, we may need to contact you separately to ensure that these arrangements transfer. If you have these types of arrangements they, and your related UK arrangements, will stay in Bank of America until we have agreed and completed a transfer for these with you. Bank of America will continue to hold them until the transfer occurs.

This link may allow you to access a non-Bank of America Corporation website. Bank of America Corporation has no control over the linked website and is not liable for your use of it.
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