Which banks are linked? tool

10_66

There used to be an essential tool on the "Are my savings safe" page.  The link is still showing in the text, but when you click on it, it only takes you further down the page to a very brief explanation of some of the main banks.  With the tool, you used to be able to enter any bank or building society and it would list which other bank/bs they're associated with.  There's a link that takes you to the FSCS page, but that doesn't list linked banks/bs.  Does anyone know if this has been moved (and I just can't find it), or have they removed it completely now?

jaypers

Looks like the BOE Bank affiliation link is broken…..even via Google. Would maybe wait to see if this is a temporary issue. I’ll keep an eye. 

friolento

The checker on the FSCS site is different to what the MSE one used to be but it gives you perfect results. https://www.fscs.org.uk/check/check-your-money-is-protected/

You could also use CHATGPT, and ask your specific Q. You get an answer in seconds - though I would probably still verify it against the FSCS data as CHATGPT doesn’t appear to be 100% accurate. Here is an example: 

10_66

friolento said:

The checker on the FSCS site is different to what the MSE one used to be but it gives you perfect results. https://www.fscs.org.uk/check/check-your-money-is-protected/

The trouble with the FSCS one is that using the +account, you have to know the name of a particular organisation, the MSE tool used to just list all those associated if you put one name in.

I've tried doing a test on the FSCS checker.  If I enter Tesco and Barclays, the checker suggests they're independent using the example figures.  I can't see what I'm doing wrong on the FSCS checker, if they both come under the Barclays protection.

kaMelo

Just read the FSCS sheet for the account, that will list the banks and their various trading names that share FSCS protection with that account.

friolento

Most people won’t have anything like £85k to worry about so shared FSCS protection is only an issue for a really small number of people. I am one of that small number  and don’t find it particularly onerous to know which companies share their FSCS protection.





 

eskbanker

10_66 said:

friolento said:

The checker on the FSCS site is different to what the MSE one used to be but it gives you perfect results. https://www.fscs.org.uk/check/check-your-money-is-protected/

The trouble with the FSCS one is that using the +account, you have to know the name of a particular organisation, the MSE tool used to just list all those associated if you put one name in.

I've tried doing a test on the FSCS checker.  If I enter Tesco and Barclays, the checker suggests they're independent using the example figures.  I can't see what I'm doing wrong on the FSCS checker, if they both come under the Barclays protection.

You're not doing anything wrong - Tesco and Barclays don't share protection, so the result is as expected.  You'll see the different FRNs listed, and this is what drives the protection, i.e. it's only institutions sharing the same FRN that share FSCS protection, in that it's based on banking licences not shared corporate ownership, which is why, for example, Lloyds remains separate from Halifax/BoS for FSCS purposes.

gravel_2

Some Barclays entities do share an FRN with Tesco.

eskbanker

Ah, actually I was wrong and Tesco does now share the Barclays protection, according to the FAQ at acquisition time.  Not sure why the FSCS checker above doesn't reflect this....

gardigest

10_66 said:

There used to be an essential tool on the "Are my savings safe" page.  The link is still showing in the text, but when you click on it, it only takes you further down the page to a very brief explanation of some of the main banks.  With the tool, you used to be able to enter any bank or building society and it would list which other bank/bs they're associated with.  There's a link that takes you to the FSCS page, but that doesn't list linked banks/bs.  Does anyone know if this has been moved (and I just can't find it), or have they removed it completely now?

Here is the tool you want:
https://www.moneysavingexpert.com/banking/savings/safe-savings/#tool
I too was searching for it for ages. Strange, normally the MoneySavingExpert site is glitch-free. The webmaster should look into correcting the error - it's a very handy tool!

eskbanker

gardigest said:

10_66 said:

There used to be an essential tool on the "Are my savings safe" page.  The link is still showing in the text, but when you click on it, it only takes you further down the page to a very brief explanation of some of the main banks.  With the tool, you used to be able to enter any bank or building society and it would list which other bank/bs they're associated with.  There's a link that takes you to the FSCS page, but that doesn't list linked banks/bs.  Does anyone know if this has been moved (and I just can't find it), or have they removed it completely now?

Here is the tool you want:
https://www.moneysavingexpert.com/banking/savings/safe-savings/#tool
I too was searching for it for ages. Strange, normally the MoneySavingExpert site is glitch-free. The webmaster should look into correcting the error - it's a very handy tool!

I think the error has been corrected, as that tool wasn't accessible there (in its expected location!) last week when the thread was started....