£35,000 protection question

trashcan_2

If say you have £10,000 in Halifax and £7,000 in Bank of Scotland and because they are under one bank which I think is called HBOS, would you still get all your money bank under the £35,000 scheme or would you only get one payout or either 7 or 10,000 pounds. I heard its only one payment from one institution.

ManAtHome

It's one payment up to £35k per banking license - BoS, Halifax, BM, Saga, AA (and possibly others) are all one license, so total payout is £35k. Nothing to worry about as you have less than that invested with them.

trashcan_2

many thanks.