Brexit

Information for members

Brexit statement

The UK and Brexit

 

As the UK is no longer a member of the European Union. The UK and European Union have agreed a trade deal, which does not allow the previous agreements relating to financial services to continue as they were. We need to ensure that we continue to act within the laws and regulations that apply within the EU and this means we have had to make some changes: 

 

If you reside in any EU country, we can no longer accept deposits/credit transfers or payments from certain EU accounts into a Scottish Building Society account.  

If you reside in any EU country, and have a mortgage with Scottish Building Society, please contact us if you have any questions..


We’re sorry if these changes cause our members any inconvenience. We will continue to review and if necessary, get in touch.

We will also continue to update this web page with any developments, and how these may affect you.

Questions we get asked

 

 

Is my Money Safe?

Yes, your money is protected by the Financial Services Compensation Scheme and this protection will still apply following Brexit. For further details, see: https://www.fscs.org.uk/.

 

I am an EU citizen living in the UK, will there be any changes to my account?

Currently, we don’t anticipate making any changes to the way your account is serviced. However, our products are only available to individuals resident in the UK for tax purposes or Crown employees serving overseas and their spouses

 

More information...

For further information about how Brexit will affect you:

FCA Brexit site: www.fca.org.uk/brexit 

Financial Services Compensation Scheme - www.fscs.org.uk