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How much of my savings are guaranteed?

Last post Thu, Oct 02 2008, 3:54 PM by maxsteam. 4 replies.
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  •  Wed, Oct 01 2008, 2:24 PM

    How much of my savings are guaranteed?

    I currently have three accounts with the Halifax. 1 savings account and two current. Are my savings safe and how much of my money is guaranteed?
    • Post Points: 20
  •  Wed, Oct 01 2008, 3:33 PM

    Re: How much of my savings are guaranteed?

    Probably £35k. That might be doubled for a joint account or reduced if the accounts are with an offshore subsidiary.
    • Post Points: 20
  •  Wed, Oct 01 2008, 10:55 PM

    Re: How much of my savings are guaranteed?

    Hi I have some money with ING Direct and have just realised that this is a Dutch Bank.

    Does anyone know how much is guarnteed by the Dutch Would anyone recommend that I move my money

    • Post Points: 20
  •  Wed, Oct 01 2008, 11:19 PM

    Re: How much of my savings are guaranteed?

    ragdoll334:

    Hi I have some money with ING Direct and have just realised that this is a Dutch Bank.

    Does anyone know how much is guarnteed by the Dutch Would anyone recommend that I move my money

    Hi -- ING is a member of the EEA scheme, it has also, "topped up" to the UK FSCS giving it the same protection under the UK compensation scheme.

    Single named account £35k protection ...due to increase to £50k

    http://www.fscs.org.uk/consumer/How_to_Claim/Deposits/EEA

    _firms_that_have_topped_up/

    • Post Points: 20
  •  Thu, Oct 02 2008, 3:54 PM

    Re: How much of my savings are guaranteed?

    The link above confirms that ING Direct NV is part of te UK scheme. You need to be aware though that "ING" and "ING Direct" are no more than trading names. All large modern banks have many subsidiary companies and it is important, if you are concerned, to determine exactly who your investment is with.

    For example, ING Bank (Australia) Limited also trade under the name "ING Direct" but investors there will be covered by whatever depositor guarantees Australia offers rather than being included in any UK scheme.

    • Post Points: 5