Bradford and Bingley - ASDA

bibbage

Hi
If I have 35k with Bradford and Bingley and a further amount with ASDA which is B&B really, am I protected for the additional amount with ASDA. In other words do they each protect my funds to 35k i.e 70k total. Cheers

Mikeyorks

ASDA Internet Savings is provided by Bradford & Bingley plc, who are authorised and regulated by the Financial Services Authority (FSA reg no 106126).

.....above from the ASDA site - which means you're only protected up to £35k (as that's B&B FSA registration they quote)

Lavendyr

No, if they are registered with the FSA as the same bank you are only protected to a total of £35k.

Cozworth806

I heard ML on a radio show that explained this, but I thought he said there was somewhere on here that explained what the inter-dependancies were.

YorkshireBoy

Cozworth806 wrote: »

...somewhere on here that explained what the inter-dependancies were.

http://www.moneysavingexpert.com/savings/safe-savings#every

Meltdown_2

YorkshireBoy wrote: »

http://www.moneysavingexpert.com/savings/safe-savings#every

But that table does now seem a bit on the sparse side...

ebdnet

Asda seem to be taking their name off all accounts in excess of £35k and transferring these to B&B named accounts.

Are they worried about being tarred with losing customers savings if B&B crash?

I could get no explanation from them that makes any commercial sense to me.