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FSCS protection for the Coventry Building Society...
Ignoramus
Posts: 34 Forumite
The "are your savings safe?" section says:
What if my building society has merged with another?
In the aftermath of the financial crisis, a spate of building society takeovers peppered daily news broadcasts. Initially, the government acted to protect savers who had money stashed in two different building societies that merged, yet from 31 December 2010, that's ended.
So, if you have money in more than one of the institutions in the following groups, you now only have £85,000 protection between all of them.
Presumably that means Coventry BS shares protection with Stroud & Swindon only, not "all of them" as in all building societies listed above such as Nationwide etc?
Just checking as I had a sleepless night and am advising others on this...
Thanks!
What if my building society has merged with another?
In the aftermath of the financial crisis, a spate of building society takeovers peppered daily news broadcasts. Initially, the government acted to protect savers who had money stashed in two different building societies that merged, yet from 31 December 2010, that's ended.
So, if you have money in more than one of the institutions in the following groups, you now only have £85,000 protection between all of them.
- Nationwide, Derbyshire, Cheshire and Dunfermline Building Societies
- Yorkshire, Chelsea and Barnsley Building Societies
- Skipton and Scarborough Building Societies
- The Co-op and Britiannia Building Society
- Coventry BS and Stroud & Swindon BS
Presumably that means Coventry BS shares protection with Stroud & Swindon only, not "all of them" as in all building societies listed above such as Nationwide etc?
Just checking as I had a sleepless night and am advising others on this...
Thanks!
0
Comments
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Correct. And breeeathe.Presumably that means Coventry BS shares protection with Stroud & Swindon only, not "all of them" as in all building societies listed above such as Nationwide etc?
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opinions4u wrote: »Correct. And breeeathe.
Lol thanks!
Yeah I'm just a tad stressed these days... lot of things on my mind.:(0
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