Abbey & B&B Accounts - What's Guaranteed

Fastflys

In recent months I’ve opened a number of accounts and spread my savings around so that I don't have more than £35,000 invested with any one institution. [checked against Martin’s chart]

However, I have a joint Abbey current account and a feeder Abbey eSaver account in my name only, total balances £11,000 and £3,000 respectively plus a B&B eSaver account in my name only with a total balance of £35,000.

From Tuesday 07th October, the FSA guarantee rises from £35,000 to £50,000 per institution.

Santandar own Abbey and now B&B. Will my total Abbey/B&B investment of £49,000 [£14,000 + £35,000] be covered or does the guarantee only cover one of my three accounts as all are now with one institution?

Oblivion

Fastflys wrote: »

Santandar own Abbey and now B&B. Will my total Abbey/B&B investment of £49,000 [£14,000 + £35,000] be covered or does the guarantee only cover one of my three accounts as all are now with one institution?

Abbey and Bradford & Bingley now come under the same FSCS licence. You can have as many accounts with either brand name and they will ALL be covered by the guarantee but only up to a combined maximum of £35,000 (£50,000 as from Tuesday 7th October). So, your £49,000 will be covered by the £50k guarantee as from Tuesday. Just watch that accruing interest doesn't take your combined balances over the £50k limit if you're that concerned.

Dave.