Charter Savings Bank due diligence

Re £85k govt protection - I really need to avoid having to rely on this as I need liquidity for a house purchase. I have saved with Charter Savings Bank pre Covid with no problems. They offer good savings rates - BUT given that debt arrears are increasing I have done some due diligence. This is what I have found
a) Charter Savings Bank - is part of Charter Court Financial Services Limited - which is part of OBS Group PLC
b) Fitch rate OBS as BBB+ (Sept 2023) - which is quite good.
c) OBS Share Price is down 27% year on year - which is not so good.
My question is - are Charter Savings Bank - protected by Charter Court Financial Services Limited
or are they ultimately protected by OBS Group? It depends on corporate structure and ring fencing  which I am in the dark about. I would be grateful if anyone could enlighten me further please. Thank you.

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  • wmb194
    wmb194 Posts: 3,306 Forumite
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    8rian said:
    Re £85k govt protection - I really need to avoid having to rely on this as I need liquidity for a house purchase. I have saved with Charter Savings Bank pre Covid with no problems. They offer good savings rates - BUT given that debt arrears are increasing I have done some due diligence. This is what I have found
    a) Charter Savings Bank - is part of Charter Court Financial Services Limited - which is part of OBS Group PLC
    b) Fitch rate OBS as BBB+ (Sept 2023) - which is quite good.
    c) OBS Share Price is down 27% year on year - which is not so good.
    My question is - are Charter Savings Bank - protected by Charter Court Financial Services Limited
    or are they ultimately protected by OBS Group? It depends on corporate structure and ring fencing  which I am in the dark about. I would be grateful if anyone could enlighten me further please. Thank you.
    Almost every bank is structured similarly. Share prices shoot around; without even looking you could probably say something similar over one timeframe or another about Lloyds, NatWest and HSBC. There's no reason to believe that OSB Group wouldn't support one of its subsidiaries if it found itself in trouble and it had the resources but if it really concerns you just use another bank or banks/BSs.
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