Would you feel comfortable putting more than £85K with Natwest?

anotherquestion

Hi folks,

Taking into consideration that Natwest is big in the banking business and that the tax payer through the government is one of the big shareholders, would you feel comfortable putting more than the £85K (limit for FSCS) into one of Natwests competitive fixed rate ISA

Thanks a lot for any advice.

Keep_pedalling

No, but then I would never hold that much cash. 

fabsaver

No I wouldn't personally.

RBS have the same account and their own separate £85k FSCS protection.

refluxer

No - I would split the ISA over multiple different financial institutions.

Even if you were just to split it in two, that would mean you won't have to worry about the FSCS limit for a very long time - possibly ever !

boingy

The govt are a major shareholder in NatWest because they needed rescuing...

subjecttocontract

No I wouldnt.

km1500

there is no problem putting that into NatWest they are not going to fail

friolento

I would never put more than £85k into any financial institution.

auser99

Having endured the hassle of trying to set an ISA up with them , not sure I'd want to put £8.50 in an account of theirs.

anotherquestion

fabsaver said:

No I wouldn't personally.

RBS have the same account and their own separate £85k FSCS protection.

Thanks very much everyone for very helpful replies, I wasn't aware that RBS had a separate comp scheme as I thought Natwest could come under the group umbrella. Thank you for this information which I take it accurate. I think the general consensus hereis to put anything above £85k into a different bank.

Thank you.

Albermarle

anotherquestion said:

fabsaver said:

No I wouldn't personally.

RBS have the same account and their own separate £85k FSCS protection.

Thanks very much everyone for very helpful replies, I wasn't aware that RBS had a separate comp scheme as I thought Natwest could come under the group umbrella. Thank you for this information which I take it accurate. I think the general consensus hereis to put anything above £85k into a different bank.

Thank you.

If you want to be extra careful, then do not add as much as £85K as interest will be added at some point.
On the other hand I would not be losing any sleep if I had £87K with NatWest.