Is Sainsbury part of HBOS group in respect of FSA £35k guarantee?

gekktel

Is Sainsbury part of HBOS group in respect of FSA £35k protection/guarantee for savings account ? Looking at the table provided by Martin - http://www.moneysavingexpert.com/savings/safe-savings - its standalone, however, I understand that Royal Bank of Scotland runs the Sainsbury savings account. Can someone clarify.

dollywops

gekktel wrote: »

Is Sainsbury part of HBOS group in respect of FSA £35k protection/guarantee for savings account ? Looking at the table provided by Martin - http://www.moneysavingexpert.com/savings/safe-savings - its standalone, however, I understand that Royal Bank of Scotland runs the Sainsbury savings account. Can someone clarify.

Bank of Scotland runs the Sainsburys bank accounts. RBS runs Tesco.

HTH

skoolmaster

50% liabilities are with HBOS
Sainsbury's Finance is a trading name of Sainsbury's Bank plc
Sainsbury's Bank is a 50:50 joint venture between J Sainsbury, a leading UK food retailer and HBOS, the fourth biggest banking group in the UK. Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997.
Sainsbury’s Bank provides a range of financial products including insurance, credit cards, savings and loans. Customers can apply for products online or over the phone. Customers can also make savings deposits in Sainsbury's stores.

Sainsbury's Bank products are closely linked to the Nectar reward scheme, the same as the supermarkets. The new Sainsbury's credit card rewards customers ever time they shop with Nectar points, equivalent to 2% cash back in-store.

Sainsbury's Bank has over 1.5 million active customers with deposits in excess of £6 billion. They receive more than 3.5 million customer calls to their call centres every year and over 1 million website visits every month.

Sainsbury's Finance is a trading name of Sainsbury's Bank plc. Sainsbury's Bank, registered office 33 Holborn London EC1N 2HT
(registered in England no. 3279730) is authorised and regulated by the Financial Services Authority.

SEE BELOW
HBOS Insurance & Investment Group Limited manages the group’s insurance and investment brands in the UK and Europe. It consists of the following:


HBOS Group Structure

HBOS has 3 main subsidiaries:
Bank of Scotland plc
HBOS Australia
HBOS Insurance & Investment Group Limited

Bank of Scotland plc
Bank of Scotland plc is the banking division of the HBOS group, and operates the following brands:
United Kingdom
Bank of Scotland
Bank of Scotland Private Banking
Bank of Scotland Treasury Services
Birmingham Midshires
Halifax
Halifax Financial Services (Holdings) Ltd
Halifax Investment Fund Managers Ltd
Halifax Share Dealing Limited
Halifax Unit Trust Management Ltd
Intelligent Finance
Sainsbury's Bank (50%)
The Mortgage Business (TMB)
Blair, Oliver & Scott (Debt recovery)

International
Banco Halifax Hispania
Bank of Scotland Corporate
Bank of Scotland International
Bank of Scotland Investment Services
Bank of Scotland (Ireland)
Bank of Scotland (Netherlands)

HBOS Australia
HBOS Australia was formed in 2004 to consolidate the group’s holdings in Australia. It consists of the following subsidiaries:

Bank of Western Australia Limited
Capital Finance Australia Limited
St Andrew's Australia Pty Ltd
BOS International (Australia) Ltd

HBOS Insurance & Investment Group Limited
HBOS Insurance & Investment Group Limited manages the group’s insurance and investment brands in the UK and Europe. It consists of the following:

esure
First Alternative
St James's Place Capital (60%)
Halifax General Insurance Services Ltd
Halifax Insurance Ireland Ltd
Clerical Medical
AA
Sainsbury's
Sheilas' Wheels

jem16

gekktel wrote: »

Is Sainsbury part of HBOS group in respect of FSA £35k protection/guarantee for savings account ? Looking at the table provided by Martin - http://www.moneysavingexpert.com/savings/safe-savings - its standalone, however, I understand that Royal Bank of Scotland runs the Sainsbury savings account. Can someone clarify.

Sainsbury's Bank is a joint venture with HBOS (Halifax Bank of Scotland).

However for compensation purposes it has a separate registration number than HBOS so it counts for full £35k protection. Basically you can have accounts with HBOS and Sainsbury's and be covered for two lots of £35k.