Nat West_is this a branch of the RB0S?

sixtytwo

On the how safe are your savings page,Nat West looks to be a standalone,then when I put up the about us page this is what I get
In March 2000, The Royal Bank of Scotland Group completed the acquisition of NatWest in a £21 billion deal that was the largest take-over in British banking
I am totally confused.........I was going to open an account with them but if they are a branch of the RBOS I can't,because I have savings in the Halifax which is a branch of RBOS.

EdInvestor

There are 2 big Scottish banks.

Royal Bank of Scotland (RBS) owns Natwest, but IIRC they both have their own licences and thus separate guarantees.

Halifax is part of HBOS, (Halifax Bank of Scotland) a separate bank.

So no problem having an account at HBoS and at Natwest.

Former_MSE_Dan

Natwest has a seperate FSA licence to RBS, menaing you can saver £50k with each in 100% safety.

Halifax is not related to either in anyway (this is probably a confusion between Halifax Bank of Scotland (HBOS) and Royal bank of Scotland (RBS))

uk_steve

Great info about Nat West and RBOS ^^^

sixtytwo

Thanks a lot for your replies.:T

telsco

Its a pity RBS don't consider NatWest to be standalone when it comes to cash ISA's.
I would love to transfer mine to get that big 2% bonus

Is it allowable to transfer an ISA twice in one year? ie from NatWest to another bank and then to RBS - or even back to NatWest!

Mikeyorks

telsco wrote: »

Is it allowable to transfer an ISA twice in one year? ie from NatWest to another bank and then to RBS - or even back to NatWest!

Yes. You can transfer as frequently as you wish (at least ..... as frequently as the inbuilt delays allow you to). Just ensure the new provider does it all - DIY not recommended.