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

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?

30 Comments

HBOS will survive lol.

jaybizzle;2976284

HBOS will survive lol.


Theres something wrong with HBOS?:thinking:

Original Poster

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%

Yup 26% drop in share price's!

Not to worry tho.

fscs.org.uk/con…qs/

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.

steevieboy4u;2976312

Its all over the news at the moment about how their share prices have … 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:.

Original Poster

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 :?

Original Poster

kyalion;2976324

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/Just make sure … 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:

The safest place for you money is folded in your wallet

Assets

HBOS: £(m) 442,881

Northen Rock: £(m) 42,790

blue leany

http://upload.wikimedia.org/wikipedia/en/thumb/f/f1/BlueLeany2008.jpg/275px-BlueLeany2008.jpg

Banned

no one lost money they had in their accounts through northern rock did they?

Did northern rock people actually lose money?

Should be ok, but go with HSBC, if they go under, we've all had it!

>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)

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

kyalion;2976324

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/Just make sure … 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.

RedIron;2976363

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.

bazzaric;2976392

Did northern rock people actually lose money?



No of course not, it was nationalised. Only shareholders lost money.

Bank of Scotland are part of HBOS does this mean Halifax accounts are affected too? sorry if this is a silly question ...

Original Poster

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:

chesso;2976409

It's not each account but the total of all the accounts held with one … It's not each account but the total of all the accounts held with one banking groupI think that HBOS will be sound.



Yes. I was just about to say this - it's very important. Halifax and RBS are one bank.

kyalion;2976324

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/Just make sure … 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

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;2976324

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/Just make sure … 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.

dam i will have to move my millions out of the account! lol

pcnutta;2986671

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!!

to right!! I spend my money, saving is not an option! i like to spendddddddd

lucky u. some of us have commitments *sigh

Tintern1981;2986731

Makes me glad I'm skint - not having all these worries about what's going … 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

Original Poster

jaybizzle;2976284

HBOS will survive lol.



By the skin of its teeth :whistling:
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