BANKS - Out of interest from those fiscally aware...

[Deleted User X18H]

hypothetically if someone had 50 grand with Lloyds TSB and 50 grand with HBOS and they merge will the government then guarantee the 100 grand

 

[Yorkshire-Seagull]

No. It's £50k per banking group.

 

[Deleted User X18H]

and another thing 18 months or so ago the banks were trying to enforce what the FSA/OFT suggested were unfair charges and I believe being reviwed by the High Court but after yesterdays foolish actions by a remedial government what happens now??

 

[newhaven seagull 85]

still in high court could take another year to sort out according to radio 5 yesterday

 

[Uncle C]

hypothetically if someone had 50 grand with Lloyds TSB and 50 grand with HBOS and they merge will the government then guarantee the 100 grand

Either you like the sound of your own voice or you really are the most inept speculator I have come across.

You are guaranteed £50K from any Bank 'group' so if a major bank owns a smaller one and they both go down you are entitled to only £50K.
You can have £50K in both your and your wife's name in any one bank and you are both covered.

That's if you trust her.

 

[Titanic]

Either you like the sound of your own voice or you really are the most inept speculator I have come across.

You are guaranteed £50K from any Bank 'group' so if a major bank owns a smaller one and they both go down you are entitled to only £50K.
You can have £50K in both your and your wife's name in any one bank and you are both covered.

That's if you trust her.

That is safe, but not quite accurate... it is actually £50,000 per person per banking licence.

In the case of HBOS, they count as one because Halifax and BoS only hold one licence.

However, RBS and NatWest hold separate licences, and therefore you can safely hold £50000 in each.

Not a problem I have though, sadly


Edit: there is a useful list here... http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=440726&in_page_id=7

 

[Adam Virgo's Shirt]

HB&B - I would start spreading your millions asap!

 

[Uncle C]

That is safe, but not quite accurate... it is actually £50,000 per person per banking licence.

In the case of HBOS, they count as one because Halifax and BoS only hold one licence.

However, RBS and NatWest hold separate licences, and therefore you can safely hold £50000 in each.

Not a problem I have though, sadly


Edit: there is a useful list here... http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=440726&in_page_id=7

Thanks for the list. Thats very useful. I did know about the RBS / NatWest thing but its nice to have a definitive list.. I guess with all the mergers and take overs its worth keeping it updated.

 

[Bozza]

hypothetically if someone had 50 grand with Lloyds TSB and 50 grand with HBOS and they merge will the government then guarantee the 100 grand

If they continue to hold differing banking licences, then yes, both will be guaranteed. If they run their combined business under a single licence, then 'only' £50k would be guaranteed.

 

[sparkie]

and another thing 18 months or so ago the banks were trying to enforce what the FSA/OFT suggested were unfair charges and I believe being reviwed by the High Court but after yesterdays foolish actions by a remedial government what happens now??

I was thinking this. I reckon that now the Government has a stake, then there will be a few cosy chats, and these charges will now deemed to be legal

 

[simmo]

Not a problem I have though, sadly


Edit: there is a useful list here... http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=440726&in_page_id=7

And there was me thinking you were the richest man in Sussex as you had invented and patented the four fingered kit kat and got 1p for everyone sold in the world.

 

[Titanic]

And there was me thinking you were the richest man in Sussex as you had invented and patented the four fingered kit kat and got 1p for everyone sold in the world.

Unfortunately, as the thread title suggested, while plausible, this is, in fact, untrue.

 

[NS Herald]

If you don't trust the banks to look after your money - I will

 

[El Presidente]

hypothetically if someone had 50 grand with Lloyds TSB and 50 grand with HBOS and they merge will the government then guarantee the 100 grand

Depends on whether they decide to have one or two banking licences at the Bof E. I understand that LloydsHBOS will have one licence, so only £50k guaranteed, but Abbey and Bradford & Bingley will have two licences, so £100k guaranteed

 

[pasty]

I was thinking this. I reckon that now the Government has a stake, then there will be a few cosy chats, and these charges will now deemed to be legal

I think you could be right there, and it will piss me off no end. I have a claim "in process" at the moment for about £2K. LloydsTSB decided it would be fun to charge be £150 for a DD which if they had actually paid would have taken me less overdrawn than their charges. I was then told they had to bounce the DD as it would have taken me overdrawn had they paid it

I then refused to pay the charges and so have had charge after charge, month after month because I was overdrawn, purely because of their charges. Even my personal account manager in branch said I had a very good chance of getting this all back, but after all this going on I reckon I've got diddly squat chance now.

f***ing HATE banks.