fsc compensation

murielmuff

I have an account with birmingham midshires & with the AA savings.What is the maximum amount I can have in both accounts,that will be guaranteed by the fsc. I have just found out that the AA,s bank is also the birmingham midshires bank.

xrjtg

£50000 in total. Following up the chain of ownership you eventually reach Lloyds which is largely owned by the Treasury, so I wouldn't worry too much.

Hungerdunger

From the AA's website:

Deposits with us are held with Bank of Scotland plc. Accounts with Bank of Scotland plc include accounts with its divisions and trading names: Halifax, Intelligent Finance (IF), Birmingham Midshires (BM Savings), 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.

(My italics)