Regarding Halifax safety

cheekykid

Am thinking of depositing all my savings with Halifax. Am assuming that now that the government has bought 60% of RBS they are more or less 100% safe?

rb10

Halifax and RBS are not linked in any way.

Royal Bank of Scotland (RBS) owns Natwest.

Halifax and Bank of Scotland are the same company (HBOS).

RBS and BOS, despite having similar names, are totally separate.

opinions4u

Halifax (or rather HBOS, their parent company) are due to have a government injection of capital that is bigger percentage wise than RBS got.

1) They are covered by the FSCS up to £50k per person (£100k joint accounts).
2) They are too big for the government to allow to fail - simple as.
3) They are due to merge with Lloyds which should bring more stability.
4) Before they merge with Lloyds the government are going to plough in significant sums too.

satellina

I have just opened an account online with Halifax. I found their site the most difficult I have ever used. I nearly gave up and drew all my money out again.Has anyone else had problems or is it just me?

willt

None of the major banks will ever be allowed to go under, ever. IT would signal economic meltdow, but just put £50k max in each if you're unsure

LongTermLurker

satellina wrote: »

I have just opened an account online with Halifax. I found their site the most difficult I have ever used. I nearly gave up and drew all my money out again.Has anyone else had problems or is it just me?

I like Halifax's online banking, always have. If I think about it, I can't think of anything I don't like about it. There are a hell of a lot worse, with far less functionality (Bradford & Bingley & ICICI spring to mind)

Mikeyorks

satellina wrote: »

Has anyone else had problems or is it just me?

Must be you.

Stick with it and you will find it's very user friendly as soon as you have used it for a short period. If you've just opened the account ... I don't think you've given it much of a chance?

I find it very intuitive and easy all round to navigate. The OH, on the other hand, finds it bemusing .... but that's mainly because all my money is in her accounts ... and I keep moving it !

gozomark

willt wrote: »

None of the major banks will ever be allowed to go under, ever.

brave words - there are circumstances where you would be wrong, so I'd prefer not to say never, but certainly extremely unlikely

willt

World war, martians landing, apart from that it'll never happen.

cheekykid

HBOS can't be allowed to fail.... For starters no public or private body will be able to cover the liability, trust on the UK's financial sector will be ruined for decades, many billions will leg it from the country for safer economies, people will panic when they see hundres of thousands if not millions of depositors busting out etc. They simply cannot allow HBOS to go to the wall.