Capital One Savers transfered to Skipton BS

Gazza68

Hi there,
Received a letter from Capital One saying that all UK Savings accounts will be transferred to Skipton Building Society (Castle Money) at the end of July.
Never heard of them. Should I be be concerned? Would anyone recommend closing the account moving elsewhere?
Thanks
Gazza:D

natman

Never heard of them?? Is that Castle money or Skipton?

Castle Money is a trading name of Skipton Building Society and are about to accept savings from capital one customers.
There have been other posts about this but basicaly I am a Capital one account holder, I am happy that the Skipton is regulated and has the same compensation as most other UK banks and Building societies.
Only thing to consider is - if you had £50,000 in SKIPTON and you then put say £20,000 from Capital one into the CASTLE money , I think only your first £50,000 compensation scheme monies would be covered.

For me that is not an issue, only issue is, if rates drom, I will just switch!

System

I logged on today to Capital One (now Castle Money part of Skipton) with the intention of moving my savings from there into another account.

Having called them I found them to be really helpful and professional, and I was really impressed with the two ladies I spoke to.

Has anyone else had good or bad experiences at all? I'm wondering if I'm moving too soon, was only moving as tend to stick to the larger names such as Nationwide, IF, etc..

flyingscotno1

Summer01 wrote: »

I logged on today to Capital One (now Castle Money part of Skipton) with the intention of moving my savings from there into another account.

Having called them I found them to be really helpful and professional, and I was really impressed with the two ladies I spoke to.

Has anyone else had good or bad experiences at all? I'm wondering if I'm moving too soon, was only moving as tend to stick to the larger names such as Nationwide, IF, etc..

I've never had any problems. In terms of assets they are the 6th biggest BS in the U.K and are one of the larger names in that respect!

Hungerdunger

Summer01 wrote: »

I'm wondering if I'm moving too soon, was only moving as tend to stick to the larger names such as Nationwide, IF, etc..

Why do you? As long as you keep within the £50,000 limit there's really very little difference. In fact, from my limited experience, if you need to speak to someone, you have more chance of speaking to a real human being with a small organisation than a large one.

SUESMITH_2

im a skipton customer - they merged with the scarborough building society earlier this year, theyre very nice in branch and certainly efficient

System

Hungerdunger wrote: »

Why do you? As long as you keep within the £50,000 limit there's really very little difference. In fact, from my limited experience, if you need to speak to someone, you have more chance of speaking to a real human being with a small organisation than a large one.

Good point, I'm not sure why.. I think I was a little nervous as I didn't know of Castle Money.. However when I called got through almost immediately, staff were very knowledgable - unlike most of my dealings with Halifax :rolleyes:

Might have been a little hasty and I am glad I had a reason to call them to check something as it made me think twice..

Thanks to everyone for your feedback..