Kaupthing And Icesave - If they both wen bust would FSA pay twice?

Joey122

Thats the question

If they both went bust would you get 70K back from the FSA?

Are they linked in any way?

If you deposit more then 35K then presumably you are only covered up to 35K. Is that correct?

Cheers

Toastie

I believe so. I think is it £35,000 in each institution. Because they aren't linked then im pretty sure that if you put £35,000 in each you'd get it back.

YorkshireBoy

Joey122 wrote: »

If they both went bust would you get 70K back from the FSA?

Only if you had at least £35K with each.

Are they linked in any way?

No. To check whether institutions are linked, you should check the FSA registration numbers on their respective websites (the same registration number signifying a 'link').

If you deposit more then 35K then presumably you are only covered up to 35K. Is that correct?

It's £35K per customer per FSA registration number. Joint accounts therefore benefit from £70K protection.

Entertainer

Yes.







.

Meltdown_2

YorkshireBoy wrote: »

To check whether institutions are linked, you should check the FSA registration numbers on their respective websites (the same registration number signifying a 'link').It's £35K per customer per FSA registration number. Joint accounts therefore benefit from £70K protection.

I had started to put together a list of these, but it then occurred to me that I might be reinventing the wheel. Does anyone know of a website listing banks and their FSA registration numbers? (Presumably the MSE staff did such a list prior to producing their 'colour-chart'.)

YorkshireBoy

Meltdown wrote: »

Does anyone know of a website listing banks and their FSA registration numbers?

Try the FSA register...

http://www.fsa.gov.uk/register/home.do

(Presumably the MSE staff did such a list prior to producing their 'colour-chart'.)

Well, no. The footnote on the table says they checked each institution's website for their FSA registration number.

Meltdown_2

YorkshireBoy wrote: »

Try the FSA register...
http://www.fsa.gov.uk/register/home.do

Thanks.:rolleyes: I had done, but that does not seem to give me what I am after.
I can get the information OK, but only one at a time. And even when I do all this, it seems pointless if the job has already been done.

YorkshireBoy wrote: »

Well, no. The footnote on the table says they checked each institution's website for their FSA registration number.

As I was in the process of doing... And which rather implies that MSE couldn't easily get the information from the FSA website either!

And if I were the MSE-staffer doing that job, I would have put the information into a table/spreadsheet as I was doing it. I am assuming that MSE-staffers don't read these forums (well not on a Sunday anyway ...:D) so I don't suppose we will get a precise answer on that for the time being.

masonic

Meltdown wrote: »

I can get the information OK, but only one at a time. And even when I do all this, it seems pointless if the job has already been done.

The trouble is, you can't just do this once - you have to keep it up to date. Banks merge, brands run by one bank that were once registered separately can be brought together, names get changed, etc. You'd be best off checking the most up to date source of information (FSA register, or the relevant banks' own websites) each time you need to, rather than investing a lot of time and effort in trying to maintain a comprehensive list.

YorkshireBoy

masonic wrote: »

Banks merge..., brands run by one bank that were once registered separately can be brought together, names get changed, etc.

Exactly. Look what happened with Halifax and Bank of Scotland last year.

How long before RBS bring NatWest under their FSA registration?