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Who owns which banks?
Vickyabb
Posts: 2 Newbie
Hi, this is my first post - please be gentle with me!
My mother has a large amount of savings, but most of it is with Halifax - she's well over the "guaranteed" £35k limit.
As I understand it, the government guarantees the first £35k a person has with an organisation, but you have to be careful of the parent company - such as Halifax and Bank of Scotland belonging to/being part of the same company.
So.... is there an easy way to find out which banks and owned by the same parent companies? Ive tried searching, but may be looking in the wrong place or using the wrong terminology!
Many thanks!
Vicky
My mother has a large amount of savings, but most of it is with Halifax - she's well over the "guaranteed" £35k limit.
As I understand it, the government guarantees the first £35k a person has with an organisation, but you have to be careful of the parent company - such as Halifax and Bank of Scotland belonging to/being part of the same company.
So.... is there an easy way to find out which banks and owned by the same parent companies? Ive tried searching, but may be looking in the wrong place or using the wrong terminology!
Many thanks!
Vicky
0
Comments
-
Bah - I knew it would be on here somewhere!
Thank you!
V x0 -
This is helps as well.
http://www.moneyfacts.co.uk/Savings/articles/who-owns-whom-listings.aspx0 -
It's not advisable to even put £35K into one organisation as any interest gained from that amount would be lost if anything untoward happened to the bank.
Better to play safe and limit yourself to £33K approx allowing for protection on the interest.0 -
have a look at stoozing.com.0
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