Hampshire Trust Bank

neil324

Hampshire trust bank say they are FSCS covered, under the names 'Hampshire Trust Bank' and 'Hampshire Trust Bank plc'

https://www.htb.co.uk/fscs

But the only name I can find on the FSCS register is for 'Hampshire Trust plc'

Are they FSCS covered?

Looking at this article it seems the licence is not always the same as the trading name,

http://www.thisismoney.co.uk/money/meandmymoney/article-1630421/Savings-compensation-protection-Bank-ownership-licences.html

I must be getting old or wise, this is the first time i've used the FSCS search before

eskbanker

Not sure exactly where you're searching and I can't find an 'FSCS register' as such on their site, but https://www.fscs.org.uk/what-we-cover/products/banks-building-societies/ states:

How do you find out if you are covered?
We cover firms authorised by the PRA. We have provided additional information about FSCS coverage for some of the larger banks and building societies on this page (see the list of banks and building societies on the left). A full list of the banks and building societies authorised by the PRA can be found on the PRA's website. If a UK bank is not on this list, it is likely to fall under a group authorisation. If you have a question about how a bank or building society is authorised, please check the list on the PRA's website or contact the PRA on 020 7601 4878.

Following the link to the PRA website takes you to the list of authorised firms which does include "Hampshire Trust Bank Plc".

The FAQ help page at the FSCS website https://www.fscs.org.uk/can-we-help/#, under "How can I find out if a firm is a member of the FSCS?", directs readers to the searchable FCA register (via an old FSA reference!) at https://register.fca.org.uk/ which also features the registration details for "Hampshire Trust Bank Plc" (including its registration number 204601) at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfJIsAAN

neil324

eskbanker wrote: »

Not sure exactly where you're searching and I can't find an 'FSCS register' as such on their site, but https://www.fscs.org.uk/what-we-cover/products/banks-building-societies/ states:Following the link to the PRA website takes you to the list of authorised firms which does include "Hampshire Trust Bank Plc".

The FAQ help page at the FSCS website https://www.fscs.org.uk/can-we-help/#, under "How can I find out if a firm is a member of the FSCS?", directs readers to the searchable FCA register (via an old FSA reference!) at https://register.fca.org.uk/ which also features the registration details for "Hampshire Trust Bank Plc" (including its registration number 204601) at https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfJIsAAN

Many thanks

I was searching here,

https://protected.fscs.org.uk/tools/check-your-money-is-protected/

trickydicky14

Whilst on the subject of Hampshire trust bank I thought I could pass on some information.
I have just opened a savings account with them on line, very easy to do but like a lot of people I like to send a small deposit first to make sure it all goes through without problems then send the bulk of my cash.
Well Hampshire say on website you can only send one payment electronically but during the sign-up process it says you can sent more than one payment as long as its on the same day as the first payment.
Well I sent my first payment thinking as it is a bank and not a building society the money would go through via faster payments say a few hours but no 24hrs later still not showing in my account I do know faster payments can take longer but that is unusual I have found and the rules now say I can not sent any more so do keep this in mind.
In saying all this you do have the opportunity to send a cheque If you know what that is?

2010

trickydicky14 wrote: »

Whilst on the subject of Hampshire trust bank I thought I could pass on some information.
I have just opened a savings account with them on line, very easy to do but like a lot of people I like to send a small deposit first to make sure it all goes through without problems then send the bulk of my cash.
Well Hampshire say on website you can only send one payment electronically but during the sign-up process it says you can sent more than one payment as long as its on the same day as the first payment.
Well I sent my first payment thinking as it is a bank and not a building society the money would go through via faster payments say a few hours but no 24hrs later still not showing in my account I do know faster payments can take longer but that is unusual I have found and the rules now say I can not sent any more so do keep this in mind.
In saying all this you do have the opportunity to send a cheque If you know what that is?

Thanks for that.

I was on their website and from the T&C it says min deposit £1k and you have 14 days to fund your account.
I can`t see where it says you can only make one payment only.
What it does say is:


If you are opening a bond you should send us a single payment. If you wish to send multiple electronic payments because your bank limits the value of payments you can send then we will wait to we have received all of your payments and then open the bond, provided we receive them within 14 days of account opening. If you intend to do this you should tell us.


After the first payment is sent,you could ring them the next day to ask if they have received it and then send the remaining deposit.

trickydicky14

Just to update, I sent my first payment of £1000 on Friday morning and it showed up in my account at 4pm today Monday.
I will ring them tomorrow to see if they will allow me to forward a second payment but I think they won’t allow it and I would need to open a second account if I wish to save with them.
O well lets see what happens.

lindabea

When I phoned them up to ask about multiple transfers to fund the account, I was told that they would accept multiple payments, but you have to let them know so that they are aware of how many payments to expect. Also, the payments need to be on consecutive days.

All that said, I was thinking of opening an account with them, but noticed that they decreased the interest rate for the 1 year fixed - in fact twice... from 2.1% a few days ago to 2.00% and to 1.9% yesterday. Could this be an indication of a pending BOE rate increase on Thursday!!!

Please update your experience with your additional payments.

trickydicky14

Rang this morning and was told as my first payment was added to my account yesterday I can make a second payment today.
I was also thinking will the rate go up during the next week and should I wait and open a second account later.

lindabea

trickydicky14 wrote: »

Rang this morning and was told as my first payment was added to my account yesterday I can make a second payment today.
I was also thinking will the rate go up during the next week and should I wait and open a second account later.

Thanks for your update. As a matter of interest, did they give you the rate at the time you opened the account or the current lower rate when you funded the account?

trickydicky14

Well that’s an interesting question, when I rang up this morning I was unaware the rate had been reduced so no I did not ask.
As my online account is showing a rate of 2% I obviously believe the new money which is going into the same account will also attract a rate of 2%

2010

If and it`s a big if, the BoE increase rates on Thursday, I hope the savings industry will respond as quick as they do to a rate decrease.

Having said that, quite a lot of them have already reduced rates recently,obviously in preparation for this increase.