Lloyds bank and FSCS

dllive

Hi guys,
I have accounts with Lloyds, Bank of Scotland and TSB. I thought these banks were all 'linked', and so came under the same FSCS. I used the tool at the bottom of this page: http://www.moneysavingexpert.com/savings/safe-savings and it looks like they are not linked. I guess Im just looking for confirmation that they are not linked.
Thanks

GingerFurball_2

Lloyds and Bank of Scotland have never been linked.

TSB now have their own seperate banking license.

colsten

It depends what you mean by "linked". Bank of Scotland is part of HBOS, which in turn is owned by the Lloyds Banking Group, which also own Lloyds Bank, as well as presently still the majority share of TSB.

This doesn't mean that they all share the same banking licence. The official place to check for banking licences is the FCA Register but the MSE list is in line with the official register.

dllive

OK, thanks guys. I just wanted to make sure that all my savings would be covered by FSCS... just in case any of the 3 banks go belly up!

System

To be more accurate...

TSB is simply Lloyds TSB Scotland renamed which always had its own distinct banking licence from Lloyds TSB.

GingerFurball wrote: »

Lloyds and Bank of Scotland have never been linked.

TSB now have their own seperate banking license.

colsten

Heng_Leng wrote: »

To be more accurate...

TSB is simply Lloyds TSB Scotland renamed which always had its own distinct banking licence from Lloyds TSB.

TSB have 631 branches, of which:
- 282 are former Lloyds TSB branches in England and Wales
- 164 are former Cheltenham & Gloucester branches
- 185 are former Lloyds TSB Scotland branches

So it's a little bit more than just a renamed Lloyds TSB Scotland.

eskbanker

dllive wrote: »

OK, thanks guys. I just wanted to make sure that all my savings would be covered by FSCS... just in case any of the 3 banks go belly up!

Do you have more than £85K collectively between these three?

If so, you might benefit from putting some funds where they'll get more interest (e.g. Santander, Nationwide).

If not, there's nothing to worry about even if all three were covered by the same banking licence!

Jogle

colsten wrote: »

So it's a little bit more than just a renamed Lloyds TSB Scotland.

No, in terms of legal entity, they are quite correct.

TSB Bank Plc (Company Number: SC095237) was Lloyds TSB Scotland Plc until 9 September 2013