FAQs

On 28 February 2022, Wesleyan Bank Limited was acquired by Hampshire Trust Bank Plc. and is no longer part of Wesleyan Assurance Society. Please find below answers to some key questions relating to the sale.

GENERAL QUESTIONS

Why has HTB bought Wesleyan Bank?

The acquisition of Wesleyan Bank by HTB brings additional scale to the combined group, creating a bigger, better organisation with better outcomes for our customers.

Why has Wesleyan Group sold Wesleyan Bank?

Following an in-depth review Wesleyan found that the opportunities that lie ahead for Wesleyan Bank sit predominantly outside of their specialist customer groups which is why they agreed the sale to the HTB Group, enabling both businesses to grow as part of a larger banking entity.

For Wesleyan, the sale will help to further enhance the products and services they offer to doctors, dentists and teachers, while delivering long-term value for their members.

Who is Hampshire Trust Bank?

HTB is a leading UK specialist bank based in the City of London, which helps small and medium sized enterprises realise their ambitions through a range of property and business funding solutions. We also provide award-winning savings accounts to both individuals and businesses.

Does this impact the other products I have with Wesleyan Group?

Customers of Wesleyan Assurance Society, Wesleyan Financial Services, Wesleyan Unit Trust Managers and Practice Plan / DPAS are unaffected by this change. You can continue to liaise with your Specialist Financial Adviser or Relationship Manager as you do today.

Who should I contact of I have any further questions?

Our contact details have not changed and can be found here. If you have an online savings account you can continue to manage it in the usual way by logging on here.

Why have existing customers not been communicated about the acquisition earlier?

Due to the legal constraints surrounding the acquisition, we were unable to make any detailed announcements until completion. We therefore advised existing customers of the completion of the acquisition as early as we realistically could.

SAVINGS CUSTOMERS

Will I continue to receive the same FSCS protection under Wesleyan Bank or will my cover be affected?

The Financial Services Compensation Scheme will continue to provide protection to the depositors of both Wesleyan Bank and Hampshire Trust Bank. There is a separate limit for each bank, so deposits with Wesleyan Bank remain protected up to £85,000 per eligible depositor and deposits with Hampshire Trust Bank are separately protected, also up to £85,000 per eligible depositor.

Has the way I manage my account changed?

No. You can continue to manage your account using internet banking here in the usual way and you can call us on 0800 358 1122.

Will you be making any changes to the terms and conditions of my account?

There are no planned changes to the terms and conditions of any existing savings accounts.

Can I close my savings account with Wesleyan Bank and will I be charged to do so?

Depending on your account type and the related specific terms and conditions you may be able to close your account with or without penalty. Please refer to our terms and conditions for your product for more details. Please note it is not possible to close a fixed term deposit mid-term.

What happens when my fixed deposit account matures?

We will contact you 14 days before your account matures and provide you with the options available at that time. We are not presently offering fixed deposits. Customers with maturing deposits will be offered an easy access account or easy access ISA.

Can I open a new savings account?

We will not be offering new accounts to customers. As we are now part of the Hampshire Trust Bank (HTB) Group, you may find an alternative savings account that suits your requirements by visiting htb.co.uk.

Can I transfer my ISA to another provider?

Yes, open an ISA with your chosen provider and ask them to transfer your Wesleyan Bank ISA to them.

BORROWING CUSTOMERS

Do I need to re-sign my agreement documentation?

You do not need to sign new documentation.

Who do I contact if I have a query on my live agreement and how?

Please get in touch with us through your Account Manager in the usual way.

Do I continue to make payments to Wesleyan Bank?

Please continue to make payments as you do today.

What is the status of my application for credit?

For all questions about ongoing applications for credit, please contact your relationship manager in the usual way.