Aldermore bank to be sold

mills112

https://forums.moneysavingexpert.com/discussion/comment/81957606#Comment_81957606

yes, I had more than the FSCS with both banks actually, maybe that was why they didn't bother? or maybe I didn't read all the communications? i don't remember anything in the emails from sainsburys that said anything about how to deal with the FSCS limit. I had fixed bonds with them both so I couldn't really take them out without the special conditions of the merger, but I don't remember seeing anything about this issue.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81957783#Comment_81957783

I do not have any emotional attachment, but I do value the fact they are a hassle free company to deal with.

I recently had a 3 year ISA mature. I requested a split on maturity into a new 3 year ISA, a 2 year ISA and a Double access ISA. It was all very clear and easy how to do it . All completed in less than 2 minutes on the website, and all went through on the day. No need to call or e mail customer services etc.

I value that over gaining another 0.25 %, especially as I do not really need it and will lose 40% to IHT anyway. ( If it was 1% it would be a different matter !)

Of course no doubt I could change to a new provider ( I have two others anyway) and it would also go smoothly, but as a regular reader of these forums, it clearly often does not.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81957783#Comment_81957783

it is unlikely you will notice anything to be honest. sainsburys bank was still operating as sainsburys bank and tesco bank is still operating as tesco bank, nothing has changed at all, except who now owns them, so I wouldn't get overly concerned about it to be honest.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81957783#Comment_81957783

i don't think anyone gets attached to a bank to be honest, but a lot of people can't be bothered to shop around and move their money. the only bank i won't leave is my Natwest as that is my main bank account and i can't leave that, but otherwise, i chase the best rates.

eschaton

https://forums.moneysavingexpert.com/discussion/comment/81957656#Comment_81957656

I don’t think you have anything to worry about as companies are bought and sold every day.

But I will bring your attention to the following; You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.

hoc

Closed my account. They have had poor savings rates since last summer, I had kept an account to have access to online banking just in case they get their act together.