HBOS Bank! Should i move or stay with them??? - HotUKDeals
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HBOS Bank! Should i move or stay with them???

steevieboy4u Avatar
8y, 4m agoPosted 8 years, 4 months ago
I've got alot of money in the HBOS in various accounts, whats my best option to do? I don't want the same thing to happen to me, like what happened with the Northern Rock customers who lost alot of their money?
steevieboy4u Avatar
8y, 4m agoPosted 8 years, 4 months ago
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(30) Jump to unreadPost a comment
Comments/page:
#1
HBOS will survive lol.
#2
jaybizzle;2976284
HBOS will survive lol.

Theres something wrong with HBOS?:thinking:
#3
t0mm;2976290
Theres something wrong with HBOS?:thinking:


Its all over the news at the moment about how their share prices have dropped by nearly 20%
#4
Yup 26% drop in share price's!

Not to worry tho.
1 Like #5
http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

Just make sure EACH of your accounts has less than £35k in them and you're protected by FSCS,

Most of the people at Northern Rock were covered by this, but didn't know it.
#6
steevieboy4u;2976312
Its all over the news at the moment about how their share prices have dropped by nearly 20%

Oh yeah, according to the telegraph its 25%.

They'd be bailed out if anything happened anyway.

You're protected by law I think too.

I'm with them, not worried, I don't trust banks in general, only use them if I want to buy online :w00t:.
#7
jaybizzle;2976321
Yup 26% drop in share price's!

Not to worry tho.


They were saying that to all the Northern Rock customers before that went under :?
#8
kyalion;2976324
http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

Just make sure EACH of your accounts has less than £35k in them and you're protected by FSCS,

Most of the people at Northern Rock were covered by this, but didn't know it.


Thanks for the link, interesting reading :thumbsup:
1 Like #9
The safest place for you money is folded in your wallet
#10
Assets

HBOS: £(m) 442,881

Northen Rock: £(m) 42,790
#11
blue leany

http://upload.wikimedia.org/wikipedia/en/thumb/f/f1/BlueLeany2008.jpg/275px-BlueLeany2008.jpg
banned#12
no one lost money they had in their accounts through northern rock did they?
#13
Did northern rock people actually lose money?
#14
Should be ok, but go with HSBC, if they go under, we've all had it!
#15
>I don't want the same thing to happen to me, like what happened with the Northern Rock customers who lost alot of their money?

I dont think anybody with money in Northern Rock actually lost any money

(except shareholders perhaps)
#16
i think you are covered for upto £30000 compensation if your bank goes bust. Dont worry 2 much about the drop in share price(unless you have shares in hbos) as its prob down to collapse of lehmann brothers
#17
kyalion
http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

Just make sure EACH of your accounts has less than £35k in them and you're protected by FSCS,

Most of the people at Northern Rock were covered by this, but didn't know it.

It's not each account but the total of all the accounts held with one banking group

I think that HBOS will be sound.
#18
RedIron
The safest place for you money is folded in your wallet


unless a pick pocket comes up behind you !

I might be wrong, but i don't think that anyone who had any money in Northern Rock lost any money-it was the shareholders who lost it all.
#19
bazzaric
Did northern rock people actually lose money?


No of course not, it was nationalised. Only shareholders lost money.
#20
Bank of Scotland are part of HBOS does this mean Halifax accounts are affected too? sorry if this is a silly question ...
#21
Thanks for all the advice. Looks like i'm going to be opening a few bank accounts elsewhere just to be on the safe side.

Not too concerned about my shares as thats the chance you take (typical just bought another £500 worth last month!)

I'd be gutted though if i lost my life savings, so better to be safe than sorry i suppose. I was going to do it when Northern Rock went the way it did but never got round to it so definately going to do it now.
Thanks again for all the comments :thumbsup:
#22
chesso
It's not each account but the total of all the accounts held with one banking group

I think that HBOS will be sound.


Yes. I was just about to say this - it's very important. Halifax and RBS are one bank.
#23
kyalion;2976324
http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

Just make sure EACH of your accounts has less than £35k in them and you're protected by FSCS,

Most of the people at Northern Rock were covered by this, but didn't know it.


wrong. not each of your accounts, but your total investment with each company, i.e. £35k max with HBOS, £35k max with Lloyds, £35k max with Barclays etc etc
#24
It's ironic really as just this share price drop will probably cause a bit of a panic now and everyone will close their accounts which in turn will create the problem that wasn't there to begin with, a bit of a vicious circle.

kyalion
http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

Just make sure EACH of your accounts has less than £35k in them and you're protected by FSCS,

Most of the people at Northern Rock were covered by this, but didn't know it.


You have to be careful with the £35,000 safety net as many banks fall under the same group, for example:

HBoS and Royal Bank of Scotland. HBoS's single registration with the FSCS means individual savers' balances are protected up to £35,000, but this applies to all its savings brands, which include Halifax, Bank of Scotland, Saga and Birmingham Midshires.
#25
dam i will have to move my millions out of the account! lol
#26
pcnutta
dam i will have to move my millions out of the account! lol


Lol!! That was what I was thinking!!

Makes me glad I'm skint - not having all these worries about what's going to happen to my money!!
#27
to right!! I spend my money, saving is not an option! i like to spendddddddd
#28
lucky u. some of us have commitments *sigh
#29
Tintern1981
Makes me glad I'm skint - not having all these worries about what's going to happen to my money!!


Its all about perspective! Positive thinking ;-):-D
#30
jaybizzle;2976284
HBOS will survive lol.


By the skin of its teeth :whistling:

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