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Santander, AA and Lloyds
dllive
Posts: 1,385 Forumite
I have some money in the above accounts and am concerned about the banking sector as a whole (I still think we've got worse to come). Anyway, I want to be sure that the above banks are not part of the same institution and that they are all seperately covered by the FSCS. I've read the Safe Savings article on this website about the matter and it appears they are all seperate institutions, so I'm just looking for confirmation that this is still the case.
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Comments
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You are correct; they are separate institutions in terms of FSCS cover (even though the AA and Lloyds TSB are both part of Lloyds Banking Group).
As long as the amount in each is less than £50k (limit to rise soon) then you are completely protected.
Note that the AA accounts come under the same licence as Halifax, Bank of Scotland, Birmingham Midshires and most Saga accounts.0 -
Thanks for confirming that. It is quite confusing!0
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