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Northern Rock savings now linked to RBS Virgin?
yonni
Posts: 10 Forumite
As the title suggests do savings in Northern Rock (previously unlinked to any other institutions) now get lumped in with RBS & Virgin Money as far as the protected £85,000 limit?
Regards
Mark
Mark
0
Comments
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I had assumed that currently Virgin Money had its own banking licence and merely used RBS for clearing but the MSE guide says that they are linked. If so that is bad news for me.
http://www.moneysavingexpert.com/savings/safe-savings#whatcounts
Let's hope that they keep NR on a separate licence within the group. It can be done (e.g. Cheltenham And Gloucester for a long time had its own while part of Lloyds Banking Group).
Update: I have just checked and, although part of the RBS Group, NatWest has a separate licence. Phew! That's me safe for the moment.0 -
I would expect Virgin to utilise the NR banking licence for all it's savings and current accounts.0
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