HBOS and Bank of Scot International

nico26

Hi can anyone tell me if the HBOS and the Bank of Scotland International would be classed as the same institution?.My husband gets paid in dollars and we have an account in Isle of Man which because of the high dollar at the moment has gathered a bit in it as I was not transferring due to the exchange rate.I also have a Hbos account here which is over the savings safety limit. Would they be classed as different banks?

stevetodd

nico26 wrote: »

Hi can anyone tell me if the HBOS and the Bank of Scotland International would be classed as the same institution?.My husband gets paid in dollars and we have an account in Isle of Man which because of the high dollar at the moment has gathered a bit in it as I was not transferring due to the exchange rate.I also have a Hbos account here which is over the savings safety limit. Would they be classed as different banks?

I would like to know the answer to this too because I have taken out a Halifax International regular saver account (10%) and I have mortgages with Birmingham Midshires it would be nice to know I could set off the mortgage against savings in the case of a default

dunstonh

tell me if the HBOS and the Bank of Scotland International would be classed as the same institution?

BOS interenational are not protected by the FSCS so it doesnt matter.

When you invest or save offshore, such as to Guernsey, Jersey or the Isle of Man, you get nothing like the protection which you enjoy in the UK. Indeed, there is no depositor protection whatsoever in Guernsey and Jersey. In the Isle of Man, your money is covered by a scheme under the Banking Business (Compensation of Depositors) Regulation 1991. However, this protection is limited, as only three-quarters (75%) of the first £20,000 of savings with an institution is covered, so the maximum payout is £15,000.

nico26

Thanks for the reply.Just hearing all the talk about HBOS starts to make you a bit jittery. Moved some dollars when low at weekend Will watch how the dollar pans out over the next couple of days and decide whether to move the rest. Listening to all the hype on sky dosn't help.

dunstonh

Listening to all the hype on sky dosn't help.

No it doesnt. The media are quite disgraceful in their reporting of this. You would think that this is the first bear market we have ever had. Despite them typically averaging once every 5 years.

nicko33

Presumably, Bank of Scotland International Limited
and its various trading names:
Bank of Scotland International
Halifax International
Birmingham Midshires International
will all be part of the LloydsTSB merger/takeover,
as it is a subsidiary of Bank of Scotland plc
which is a subsidiary of HBOS plc
?

http://www.hbosplc.com/abouthbos/company_structure.asp
http://www.halifax-international.com/download/legal-regulatory.pdf