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smudger1946
Posts: 645 Forumite
If I have more than whatever the maximum safe amount is in two different banks that are affiliated and one goes bust would I lose all of my money?
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Comments
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Define 'affiliated'.
First of all, for some 'affiliated' banks the protection limit is combined, for some isn't.
Secondly, if two banks are members of the same group, this doesn't mean that they necessarily go bust together.
MSE article: Are Your Savings Safe?
What the hell is "ads"?
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NAT west and RBS.0
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smudger1946 wrote: »NAT west and RBS.
If you read the article that Grumbler linked to above you'll see that RBS and NatWest seem to be separate for FSCS purposes.
Other websites seem to agree e.g.
http://www.money.co.uk/guides/which-banks-count-as-one-under-the-financial-services-compensation-scheme-fscs.htm
and
http://moneyfacts.co.uk/guides/savings/depositor-protection-schemes-if-a-bank-goes-bust180112/
These sites and Grumbler's link give much more background info on the subject.0
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