If BoS goes down does it take NatWest with it?

lightSwitch_3

Hi,
NatWest has a great savings rate but I'm not sure how safe the bank is considering it is owned by Bank of Scotland.
Will a bankrupt BoS destroy Nat West too?

The rate it offers seems too good to be true but could this be due to internal problems as in the Icelandic banks that were offering 11% rates?

I can't see how they can support 6.2% rate when the stock market and bond market is not producing such rates.

Olipro

lightSwitch wrote: »

Hi,
NatWest has a great savings rate but I'm not sure how safe the bank is considering it is owned by Bank of Scotland.
Will a bankrupt BoS destroy Nat West too?

The rate it offers seems too good to be true but could this be due to internal problems as in the Icelandic banks that were offering 11% rates?

I can't see how they can support 6.2% rate when the stock market and bond market is not producing such rates.

actually, NatWest is owned by Royal Bank of Scotland.

You seem to be confusing RBoS with HBOS

soulsaver

lightSwitch wrote: »

Hi,
NatWest has a great savings rate but I'm not sure how safe the bank is considering it is owned by Royal Bank of Scotland.
Will a bankrupt RBoS destroy Nat West too?

The rate it offers seems too good to be true but could this be due to internal problems as in the Icelandic banks that were offering 11% rates?

I can't see how they can support 6.2% rate when the stock market and bond market is not producing such rates.

(I edited the quote, which strictly speaking is unethical - if you are unhappy - I'll happily reinstate it)

RBoS is Nat West parent. And 'almost certainly...' is the answer IMHO.

realaledrinker

Unless you have over £50K in there why are you worried? If you have, move the excess elsewhere & sleep easy.

Hillfly

SPAM Reported.

lightSwitch_3

Thanks Guys,

I didn't realise there were two similarly named BoS. I think I will spread the money and save myself the worry.

qamwc1

RBos is about to be part-nationalised.

lightSwitch_3

Does part nationalisation make NatWest safer though?

opinions4u

For your savings? Yes.

If you work for them and want enjoy security of employment, No.

Blah99

There's no danger in any of the big UK banks going bust (Barclays, Natwest-RBS, HBoS etc). The UK Government wouldn't let it happen, plus the underlying causes that damaged the banking industry are mostly passed now - the current issues are mainly surrounding the recession.

lightSwitch_3

Yes in the current climate they can probably save them but if we go into a depression rather than a recession then they probably can't save them all.