Full list of FSCS protected institutions in UK

Roi35426

eskbanker said:

Roi35426 said:
This is a real faff but achievable for my needs. 

I was hoping somewhere there would be a list already without me having to create my own, but thank you to all who have responded.

What are your needs?

You were originally implying that you were merely hypothesising about how someone with a massive pot of cash might distribute that, but if you clarify a bit more detail about your actual situation then it may be possible to offer more meaningful assistance.  For example, would the FSCS temporary high balances provision come into play perhaps?

I need easy access for a couple of years to £2M from a recent house sale. I can tie up the rest and already have plans for that. I plan to put £1M into NS&I but want to distribute the other £1M across banks/building societies. I understand the tax implications but this will suit my needs for now.

TheBanker

friolento said:

Roi35426 said:

eskbanker said:

Roi35426 said:

eskbanker said:

SiliconChip said:

The Bank of England have a list, although it dates from 2021 so I'm not sure it's completely up to date.

 is the most recent one I can find.

From this list am I right in thinking I would need to select different FRN numbers to ensure the FSCS protection does not overlap?
For example, if I look at FRN 114724 which is Royal Bank of Scotland, that same number appears 42 times!
I haven't been through the full list with much detail but have I completely misinterpreted how this works? All I want is a sort of family tree of institutes in order to spread money far enough but retain quick access.

Yes, the purpose of the list is to show which brands share the same FRN, so if you're looking to choose institutions without any sharing of the FSCS limit then you need to ensure that they relate to different FRNs.

 is the equivalent for building societies, but in both cases, the purpose of the lists is to show any sharing of licences, so is almost the opposite of your request for "a list of all institutions in the UK that are separate from one another", in that institutions not sharing with anyone, e.g. TSB, won't be on either list!

This is a real faff but achievable for my needs. 
I was hoping somewhere there would be a list already without me having to create my own, but thank you to all who have responded.

You'd do much better using the FSCS or MSE or Which? lookup rather than create your own list. Whilst it doesn't happen very often, banks can change their licence agreements and this might affect the FSCS cover. FSCS / MSE / Which? will update their data as required.

I agree - we already know that Barclays are taking over Tesco Bank, Sainsburys are looking for a buyer for their banking arm, and today Nationwide have announced takeover talks with Virgin Money. If you have accounts with any of these, you should get a letter before there are any changes to your FSCS cover, but if you're working from your own list, how will you know to update it?

CastleGrayskull

Hi All,

I hope I’ve used the right thread. 

I wonder if anyone can help: 

I have savings accounts with Charter Savings Bank and another with Kent Reliance. I just discovered that both of these financial institutions are owned by the same company: the OSB Group.

Does anyone know if I’m protected by the FSCS up to £85,000 for each account separately? Or because they are both under the umbrella of one company am I only covered up to £85,000 as a total sum of both accounts?

eskbanker

CastleGrayskull said:

Hi All,

I hope I’ve used the right thread. 

I wonder if anyone can help: 

I have savings accounts with Charter Savings Bank and another with Kent Reliance. I just discovered that both of these financial institutions are owned by the same company: the OSB Group.

Does anyone know if I’m protected by the FSCS up to £85,000 for each account separately? Or because they are both under the umbrella of one company am I only covered up to £85,000 as a total sum of both accounts?

The various tools and links shared earlier in the thread allow you to check - the key is the Firm Reference Number, i.e. it's only brands sharing the same FRN that share a single £85K FSCS limit, and Charter Savings Bank and Kent Reliance have different ones, despite now being part of the same corporate group.

The latest definitive list seems to be this one:

https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2023/list-of-banking-brands.pdf

CastleGrayskull

Thanks eskbanker, that’s really helpful. Appreciate you taking the time.

And reading back through the thread thanks to all who provided info. 

masonic

It's an ever evolving landscape, though. For example, with Nationwide buying the Virgin Money brand and Coventry buying Co-op bank, that's two currently separate pairs of organisations that will likely share protection in the future.