Halifax / C&G - safe to put more than 85k into both?

LeoC

I already have some money in a Halifax 2-year fixed rate bond.

I was considering putting some more money in some 1-year fixed rate, but the C&G stepped 3-year fixed rate bond has some very attractive rates.

Do you think it's safe to put more than 85,000 combined into Halifax and C&G?

According to the website, they don't currently share the FSCS protection.

But what happens if this changes in the next 2 years? If Lloyds were to fully integrate HBOS, then I'd assume they'd combine into the same FSCS umbrella... like many other banks did in the past.

I guess this could apply to any mergers or takeovers and would affect all fixed rate bonds.

Any thoughts?

LeoC

Actually, after posting this, I remembered: wasn't it part of the deal for Lloyds buying HBOS that they'd have to sell C&G?

opinions4u

Halifax comes under the Bank of Scotland banking licence.

C&G (currently) under the Lloyds TSB licence.

If LBG sunk you'd still be covered for 2 lots of £85k.

But what happens if this changes in the next 2 years? If Lloyds were to fully integrate HBOS, then I'd assume they'd combine into the same FSCS umbrella... like many other banks did in the past.

Highly unlikey to happen. If it did, you'd get lots of notice. But a business so heavily reliant on customer deposits can't afford to risk losing a chunk by merging licences.