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Originally Posted by Cloud  I don't actually think this is right - the BBC is notoriously wrong at times, and it's been quite public that it's regarded as 35k per institution. I'm pretty sure that for instance, 35k with the Halifax and 35k with Cheltenham and Gloucester would now be seen as one institution. Are your savings safe?: Full guide to protect your cash ...
Seemingly, you're right about RBS and Natwest - which is strange, seeing as it's all part of the RBS Group. I'm very surprised the FSA has allowed this - the Royal Bank of Scotland and Natwest have shared back office functions in a lot of respects, and are one bank under the covers. |
That's the point....a merged bank CAN retain multiple authorizations for its constituent banks if it chooses to do so even though it may merge many of it's operations behind the scenes . In this event, you're covered up to £35k per authorized institution.
Whether Lloyds will do this with HBOS though is anyone's guess.