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hBOS SAVINGS IM WORRIED HELP!!
curliwhirli
Posts: 2 Newbie
I have a large amount of money in my savings accounts with halifax. I am worried as to what i should do, and how the merger will effect me.
Do i take it all out? Or will i get a windfall like others have got when banks merge.
Do i take it all out? Or will i get a windfall like others have got when banks merge.
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Comments
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I wouldn't expect a windfall but I think all savings in UK banks are safe. No one lost out in the savings area when Northern Rock tumbled0
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Why would you get a windfall? Unless you are a shareholder (and even if you were the shares aren't worth much!).
Your money is safer this morning than it was earlier in the week.
Calm down and leave it where it is.0 -
will the £35k(?) limit on deposits per institution be revised-
people with ££ in HBOS and also Lloyds may see their money at risk, if combined total goes over the curent 'safe' limit..?Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)0 -
It is very safe in hbos. Stop worrying0
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curliwhirli wrote: »I have a large amount of money in my savings accounts with halifax. I am worried as to what i should do, and how the merger will effect me.
Do i take it all out? Or will i get a windfall like others have got when banks merge.
Reading between the lines what is now coming out now,we should be happy this merger has happened without looking for a windfall. I for one am thankful as I could not move a lot of money out and would have lost out. It will not effect you at all. If you have more than the £35.000 maybe you should split it up into other banks to give you peace of mind.0 -
thank all for the replies, i thought my money would be safest kept there, but the media make you worry.0
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curliwhirli wrote: »thank all for the replies, i thought my money would be safest kept there, but the media make you worry.
Yes I know the media did not help matters much.But your money will be fine.They are in a stronger position now than a few days ago.0 -
I work for HBoS and the media have done the typical media thing and over-dramatised the whole situation.
We are and always have been, a solvent bank.
For example HBoS PLC's credit rating according to Fitch as of yesterday (17/09/08) is 'AA' which is the same rating as Barclays & Royal Bank of Scotland. However theres no worry about them going bust, in the same way that HBoS isnt in the dire financial crisis that the media are reporting.
Its scaremongering to get people to read their articles
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