I was just about to transfer my business bank account to the Bank of Scotland, but put the process on hold in the light of recent events. Does the government's bail-out plan mean that HBOS now have a warm and cosy future to look forward to, or would I still be better off not letting my money anywhere near them?
Thanks
ADam
I think there is no possibility of HBOS going under,perhaps you should wait until the merger with Lloyds TSB goes through, to make sure.
Yes they're safe. HSBC are safer. There is no compensation if they go bankrupt though.
Yes they're safe. HSBC are safer. There is no compensation if they go bankrupt though.
Well, there is compensation up to £50K with HSBC. Do you mean that there would be more compensation with HBOS? We often have more than £50K in the account, so that would be reassuring if it were true.
Adam
Well, there is compensation up to £50K with HSBC. Do you mean that there would be more compensation with HBOS? We often have more than £50K in the account, so that would be reassuring if it were true.
Adam
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When you say "we" - if you have a joint account, the protected sum is £100,000 (i.e. £50k per person).
John
It's a limited company, not a joint account, so unless there are special arrangements in place for the nationalised banks, the limit will be only £50K.
Adam
Adam Jacobs wrote: ...
Are companies covered at all by the guarantee arrangements?
If they are "small" they are.
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