been looking around for a place for some money to spread it out
How can you tell if a bank or building society are linked to someone else?
Is there an FSA link??
For example, if you had £35k with AA, another £35k with BOS and Another £35k with Sainsburys...youd only get £35k if HBOS went down the pipe...
1. Citifinancial Europe: Bmibaby, Citi and Shell
2. HBOS: AA, Amazon.co.uk, Bank of Scotland, Britannia BS, Halifax, Marriott, Norwich & Peterborough BS and Sainsbury's Bank
3. HSBC: Hilton HHonors, John Lewis and Waitrose, Morrisons and The GM Card
4. MBNA Europe Bank: Abbey, Alliance & Leicester, Bank of Cyprus, Cheshire BS, Dunfermline BS, MBNA, Melton Mowbray BS, SonyCard and Virgin Money
5. Royal Bank of Scotland: MINT, NatWest, RBS, Tesco and Ulster Bank (NI)
Full Version: Banks And Fsa - Which Ones Are Seperate Institutions?
QUOTE (delboypass @ Dec 12 2007, 09:54 PM) 
For example, if you had £35k with AA, another £35k with BOS and Another £35k with Sainsburys...youd only get £35k if HBOS went down the pipe...
Not so . I asked Sainsury's back around June/July and they replied with :
"I can confirm that HBOS and Sainsburys Bank are registered under the FSCS
as two separate organisations. This means that in the unlikely event of
the company going bust, you would receive compensation under both
companies."
QUOTE (Dead Spider @ Dec 15 2007, 02:34 PM)
Not so . I asked Sainsury's back around June/July and they replied with :
"I can confirm that HBOS and Sainsburys Bank are registered under the FSCS
as two separate organisations. This means that in the unlikely event of
the company going bust, you would receive compensation under both
companies."
"I can confirm that HBOS and Sainsburys Bank are registered under the FSCS
as two separate organisations. This means that in the unlikely event of
the company going bust, you would receive compensation under both
companies."
Go here i found out: you need to enter FSA registered number though: http://www.fsa.gov.uk/register/firmSearchForm.do i.e. BOS (HBOS Umbrella - 169628)
On a seperate thread on this site, someone has mentioned that HBOS has merged them all therefore only 1 entry under FSA now so only eligible for 1 payment.
They are ALL under the same FSA licence...
BE VERY CAREFUL...!!!
i was on moneysupermarket and top 3 were all HBOS in different guises, B&M, BOS and Halifax...
I.e. lots out there but see this link..
HBOS, AA, Sainburys, B&M all under same FSA entry
QUOTE
So, what can you do? Well, the most sensible thing to do is to share your money around so that you don’t have all your eggs in one basket. However, this is sometimes easier said than done as these days many of the banks operate under various different brand names. For instance Halifax and Bank of Scotland are not only the same organisation i.e. HBOS but also own IF, Birmingham Midshires, Sainsbury’s Bank and AA savings. However, as HBOS has chosen not to authorise each of these brands separately with the Financial Services Authority and has authorised them all as brand names of HBOS then savings with each organisation would count as being with the same bank meaning that the £35000 protection limit would apply to total savings with all of these brands. In other words, if you have £30,000 with AA savings and £30,000 with Birmingham Midshires then you will have £25,000 of your money completely unprotected.
Clearly, the thing you need to do here is check the regulatory status of each of the organisations you are depositing your money with and make sure you are not duplicating accounts with banks that are registered with the FSA under the same authorisation. You can do this by checking their web sites – for example the savings section on the AA web site has the following statutory wording at the bottom of the page;
‘The deposit-taker for the AA savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered in the FSA’s Register and its Register Number is 169628′.
Clearly, the thing you need to do here is check the regulatory status of each of the organisations you are depositing your money with and make sure you are not duplicating accounts with banks that are registered with the FSA under the same authorisation. You can do this by checking their web sites – for example the savings section on the AA web site has the following statutory wording at the bottom of the page;
‘The deposit-taker for the AA savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered in the FSA’s Register and its Register Number is 169628′.
nice list here http://www.moneyfacts.co.uk/Savings/articl...m-listings.aspx
its from september so there may have been some changes since then
its from september so there may have been some changes since then
QUOTE (rickybruce @ Jan 4 2008, 11:48 PM)
nice list here http://www.moneyfacts.co.uk/Savings/articl...m-listings.aspx
its from september so there may have been some changes since then
its from september so there may have been some changes since then
Welcome rickybruce, and thanks for the link!
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