Birmingham Midshires and Halifax?

Cacran

I have invested a large amount with BM without realising it was part of Halifax where I also hold a lot of money. I was so worried about this and phoned HBOS. The first person I spoke to agreed that it was a risk as the £50,000 came under the same umbrella (her words) she passed me on to someonelse who went and checked. She came back and said not to worry as it would come under a different umbrella. I have emailed BM so that I can properly check out the situation. Do any of you out there have any knowledge on this score? I was told that it is quite common for people to have much more than £50,000 in one place. I am still not convinced.

Sceptic001

From the BM website:

Deposits in Birmingham Midshires or BM Savings branded accounts are held with Bank of Scotland plc. Accounts with Bank of Scotland plc include accounts with its divisions and trading names: Halifax, Intelligent Finance, Bank of Scotland, Bank of Scotland Private Banking, Bank of Scotland Germany, Bank of Scotland The Netherlands, St. James's Place Bank and St. James's Place Private Bank. Some savings accounts under the AA Savings, Saga and Charities Aid Foundation brand names are also deposits with Bank of Scotland plc. An eligible depositor's £50,000 limit relates to the combined amount in accounts under all of these names.

EarthBoy

Cacran wrote: »

... I was so worried about this ...

Don't be too worried. You might not technically be covered for more than £50,000, but Bank of Scotland plc (inc HBOS and BM etc) is now part of the Lloyds Banking Group, a large part of which is owned by the government, so they won't be allowing it to go bust.

10_66

Cacran wrote: »

I have invested a large amount with BM without realising it was part of Halifax where I also hold a lot of money. I was so worried about this and phoned HBOS. The first person I spoke to agreed that it was a risk as the £50,000 came under the same umbrella (her words) she passed me on to someonelse who went and checked. She came back and said not to worry as it would come under a different umbrella. I have emailed BM so that I can properly check out the situation. Do any of you out there have any knowledge on this score? I was told that it is quite common for people to have much more than £50,000 in one place. I am still not convinced.

For future reference, have a look HERE. A little less than half way down the page, click on "alternatively, see a full list of banks", and it lists which service providers count as one financial instituation.

Cacran

I guess you have told me what I already knew. HBOS rep on phone said it would be separate but I think she just said that to stop me withdrawing money from Halifax. Thanks for your replies though.