For example, sister banks Halifax and Bank of Scotland, both owned by Lloyds Banking Group, share a banking licence and so are counted as one institution. Cash saved with those two banks would only be covered up to a maximum £85,000 COMBINED.
Many UK banks and building societies are linked, and it pays to know how.
Foreign owned banks
- Santander UK.
- Axis Bank UK.
- Bank of Cyprus UK.
- ICICI Bank UK.
- State Bank of India UK.
- Bank of China UK.
- Turkish Bank (UK)
What is FSCS protection? Bank of Scotland PLC is the ‘deposit-taking licence holder’ for Aviva, Bank of Scotland, BM Savings, Halifax, and Intelligent Finance.
Linked Banks and Creditors
- Allied Irish Bank. First Trust Bank (NI)
- Bank of Ireland. Post Office. …
- Bank of Scotland. Birmingham Midshires. …
- Barclays Bank. Barclaycard. …
- Co-Operative Bank. Britannia. …
- Family Building Society. National Counties Building Society.
- HSBC. First Direct. …
- Nationwide Building Society. Cheshire Building Society.
Halifax customers’ accounts will not be transferred to Santander; they will remain with their current bank. Rather the Spanish bank will now own vital – and often the last remaining – banking lifelines in rural areas. Full banking facilities will be available to Santander customers or new signups.
Halifax (previously known as Halifax Building Society and colloquially known as The Halifax) is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group.
Who is TSB bank owned by?
The bank was formed from the existing business of Lloyds TSB Scotland plc, into which a number of Lloyds TSB branches in England and Wales and all branches of Cheltenham & Gloucester were transferred, and renamed TSB Bank plc.
TSB Bank (United Kingdom)
Which banks are part of HSBC?
- HSBC Armenia.
- HSBC Bangladesh.
- HSBC Bank Australia.
- HSBC Bank India.
- HSBC Bank Indonesia.
- The Hongkong and Shanghai Banking Corporation. Hang Seng Bank. HSBC China.
- HSBC Bank Malaysia.
- HSBC Bank Philippines.
Do Lloyds and Halifax have separate banking Licences?
Despite HBOS being owned by Lloyds Bank, both HBOS and Lloyds Banking Group continue to operate under separate banking licences.
Which banks are protected by FSCS?
Bank of Scotland, Aviva, Halifax, Intelligent Finance, Birmingham Midshires (BM Savings), AA (for accounts opened before 2 September 2015), Saga, Capital Bank, St James’s Place Bank. Barclays, Standard Life Cash Savings, The Woolwich. Citibank. Clydesdale Bank, Yorkshire Bank, Virgin Money.
Is Halifax covered by FSCS?
Accounts with Halifax Share Dealing Limited
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
Is HSBC covered by FSCS?
Protecting your money
Your eligible deposits with HSBC UK Bank plc are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Most deposits are covered by the scheme.
By the 1990s the Halifax was the largest building society in Britain, now Halifax is a bank the largest is the Nationwide. In 1995 the Halifax merged with the Leeds Permanent Building Society, this new larger building society then bought out Clerical Medical Find Managers.
Which is the safest bank in UK?
However, the two strongest are Santander (AA) and HSBC (AA-). Hence, according to S&P, your money is a little safer in these two global banks than in their four UK-based rivals.
1. Credit ratings.
|Bank||S&P’s long-term rating|
|Santander||AA (Very strong)|
|HSBC||AA- (Very strong)|
Which bank owns Nationwide building society?
Nationwide completed a merger with Portman Building Society on 28 August 2007, creating a mutual body with assets of over £160 billion and around 13 million members.