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Old 19-09-2008, 09:35   #21
yaffle
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Originally Posted by farmroad38 View Post
Actually, the £35k compensation limit is per banking licence. I believe that when RBS and NatWest merged, they kept their individual licences, so you could have £35k with each of them and be fully protected (again, I can't remember where I read that, so it could be absolute hogwash).
That sounds right to me, too. Not sure how you'd go about checking that though? I'd just spread it around different groups to be sure, if I had that much (dream on!)
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Old 19-09-2008, 10:04   #22
KennyVader
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Originally Posted by farmroad38 View Post
Actually, the £35k compensation limit is per banking licence. I believe that when RBS and NatWest merged, they kept their individual licences, so you could have £35k with each of them and be fully protected (again, I can't remember where I read that, so it could be absolute hogwash).
I am pretty sure that Gordon Brown was using this as a justification for tossing competiton law out the window in the HBOS/Lloyds-TSB merger yesterday - he was saying that it was a good thing for consumers as it meant that now they could have two lots of protected money there.

Can't find any record of him saying it today though, so maybe somebody decided he was wrong and expunged his comments from the press forever.

It would be a bit harsh if it was "per family of companies" though. While Halifax and Bank of Scotland might be obviously now the same parentage, I am not sure it's so obvious that the Birmingham Midshires Building Society is the same group as Halifax unless you read all their small print.

Last edited by KennyVader; 19-09-2008 at 10:08.
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Old 19-09-2008, 10:07   #23
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Originally Posted by NicolaUK View Post
Bear in mind it's only 35k per company not per bank or per account, ie you wouldn't be covered for 35k in HBOS and Halifax.
more strictly speaking, it's per banking licence so if HBOS and Halifax, although the same company, had 2 banking licences it would be £35k for each banking licence

(as is my understanding )


edit: nuts, someone already said that... i must be going blind or mad!

Last edited by andog; 19-09-2008 at 10:07.
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Old 19-09-2008, 12:08   #24
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Anyone bought shares in either HBOS or Halifax yesterday? Gone up alot today as faith is restored in these institutions etc..
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Old 19-09-2008, 12:20   #25
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Originally Posted by andog View Post
more strictly speaking, it's per banking licence so if HBOS and Halifax, although the same company, had 2 banking licences it would be £35k for each banking licence

(as is my understanding )


edit: nuts, someone already said that... i must be going blind or mad!
Yes I know which is why I named those two they operate under the same license.

RBS and NatWest are still separate institutions.

The table half way down the page here shows who's who http://www.moneysavingexpert.com/savings/safe-savings
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Old 19-09-2008, 12:53   #26
farmroad38
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Anyone bought shares in either HBOS or Halifax yesterday? Gone up alot today as faith is restored in these institutions etc..
HBOS or Halifax? They're the same beast!

I bought some on earlier in the week, and sold them today. It was my intention to keep them long term, but they'd gone above the offer price from Lloyds, so I thought I'd take what I could now.
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