Are my accounts connected?

cagneyfan

Hi all,
I have cash in a Natwest e-saver account, also in Ing Direct and the Halifax. Are these all separate institutions or should I move money from any of the accounts?

agsnu

NatWest is part of the Royal Bank of Scotland Group plc (RBS).
Halifax is part of HBOS plc (the Halifax Bank of Scotland).
ING Direct is part of ING Groep N.V., a Dutch company, and is covered by the Dutch compensation scheme via the EU passport system. This means that the first €100,000 are covered by the Dutch government... Which is more than the UK guarantee (£50k), but requires you relying on a foreign government (like Icesave...)

cagneyfan

So does that mean that my accounts will all be covered seperately up to £50,000 if anything happens?

soulsaver

mandy-j0 wrote: »

So does that mean that my accounts will all be covered seperately up to £50,000 if anything happens?

Yes for the UK ones - 100k euros on the Dutch one....

soulsaver

agsnu wrote: »

NatWest is part of the Royal Bank of Scotland Group plc (RBS).
Halifax is part of HBOS plc (the Halifax Bank of Scotland).
ING Direct is part of ING Groep N.V., a Dutch company, and is covered by the Dutch compensation scheme via the EU passport system. This means that the first €100,000 are covered by the Dutch government... Which is more than the UK guarantee (£50k), but requires you relying on a foreign government (like Icesave...)

Worth adding for clarity that the Dutch economy is at least as strong as the UK's... And ING has Dutch govt support, so from that point of view nothing like Icesave, BDYOR.