DMP Mutual Support Thread - Part 7

Joyanne

Hi could i have a number thankyou please.

Toe-Jam

mallyash wrote: »

Connected banking is as follows:
(1) Lloyds TSB, Cheltenham & Gloucester
(2) Halifax, Bank of Scotland, Birmingham Midshires, Saga, The AA, Intelligent Finance
(3) The Co-Operative Bank, Smile
(4) Yorkshire Bank, Clydesdale Bank
(5) Royal Bank of Scotland, Direct Line
(6) Bank of Ireland, Post Office
(7) HSBC, First Direct
(8) Abbey, Cahoot, Bradford & Bingley
(9) Barclays, Woolwich
(10) Newcastle Building Society, BMW Savings
One exception to this rule is NatWest, which - although owned by Royal Bank of Scotland - runs as a separate institution. But I would not Trust any savings or money in either account if I owed money to them.

Hope this helps.

You've left a few banks out of that

(1) Lloyds and halifax are the same now, and have it written in their terms that they will offset from each other
(5)RBS can offset from Natwest but not Ulsterbank.
(8) There is no Abbey or Bradford and Bingley, its Santander.

I know RBS are not linked for savings protection, but I can assure you they are linked for debt, I had a defaulted Natwest credit card from when I was a student, and they took what they could out of my RBS current account and then closed it.

sickasachip13

The whole financial connection thing is a fast-moving beast. It's good to share this information every now and then. We'll be fine until one of our major preditors buys up Santander. Then we're bu ggered!

Giraffeseeker

Toe-Jam wrote: »

You've left a few banks out of that

(1) Lloyds and halifax are the same now, and have it written in their terms that they will offset from each other
.

I have a loan with HSPF - I think that is Bank of Scotland - linked with Halifax, so does that mean it is now also linked with Lloyds? If so...

mallyash wrote: »

It looks as though co-op is going to buy out all Lloyds high street branches this year. I'm not sure how this will affect us Dmp'ers.

I bank with Coop - does this mean I could be needing to move banks?

Growurown

My assumption would be that once your DMP is set up and agreed that a change in the way the banks are linked would not affect it, but you know what they say about never assuming anything and I wouldn't trust a preditor as far as I could throw him/her. I guess if you know it is happening you should ask them how the change will affect your DMP.

I opened my new account with First Direct (having no debts with HSBC) and so far they have been excellent and very helpful.

Giraffeseeker

Growurown wrote: »

My assumption would be that once your DMP is set up and agreed that a change in the way the banks are linked would not affect it, but you know what they say about never assuming anything and I wouldn't trust a preditor as far as I could throw him/her. I guess if you know it is happening you should ask them how the change will affect your DMP.

I opened my new account with First Direct (having no debts with HSBC) and so far they have been excellent and very helpful.

Thanks - I'm just worried that I have a mortgage with Coop and HAVE to have my wages paid in to their bank otherwise my rate goes up. I have a savings account with them and I have a few hundred "cushion" money to put in this month - I hope it will sit there for a while and I don't want them taking it, or taking my wages on payday, but you are right, once the DMP is set up it should be fine.

Squirrel29

There is talk that Cooperative will buy Lloyds too. It worries me as Coop one of my major creditors and I'm so happy banking with Lloyds. had my DMP for a year and hope I don't have to mess about changing banks again.

Giraffeseeker

Squirrel29 wrote: »

There is talk that Cooperative will buy Lloyds too. It worries me as Coop one of my major creditors and I'm so happy banking with Lloyds. had my DMP for a year and hope I don't have to mess about changing banks again.

It's annoying, isn't it?

I'm the opposite, I am happy with Coop and want to stay, paid off my OD with them so that I could once my DMP started. It's SOOO time consuming changing banks and I REALLY can't change due to my mortgage.

Does anyone know - IF Coop buy Lloyds, will they automatically be linked to Halifax and therefore Band of Scotland and therefore HSPF and therefore basically own my HSPF debt? Or will they just buy the Lloyds bit?

sickasachip13

I don't know the answer - the first I knew of Halifax and Lloyds being linked was a letter from Blair Oliver Scott, telling me that my OD (5k) was being passed to Lloyds TSB. BLS now manage it for Lloyds (their in-house collectors). It makes you want to start stuffing the pounds under the mattress!!

Toe-Jam

tintingirl wrote: »

I have a loan with HSPF - I think that is Bank of Scotland - linked with Halifax, so does that mean it is now also linked with Lloyds? If so...



I bank with Coop - does this mean I could be needing to move banks?

Yes its owned by lloyds now. But it has nothing to do with branch banking, HSPF is not being sold to the co op. It is only actual Lloyds physical branches, and accounts held in them.