Will you be leaving RBS or Lloyds?

[craptakular]

With all the uncertainty with Scottish independence vote will you be moving banks? The news tonight said that these companies will have to move to England, but is this enough security?

Is there a chance I could end up with an issue access my money?

 

[Tefal]

the banks said they'd move didnt they?

 

[Destination]

No, there is no chance of that.
RBS managed to make losses of £46Billion in the past few years, and yet your money is still safe.
With assets/made up stuff of £1.9Trillion between them your money will be safe.

The question is, why do you not have a Santander 123 cashback account already?

 

[tbyeah]

Don't see why there would be an issue, they should move and their accounts will be largely unaffected.

 

[craptakular]

It isn't confirmed and they haven't done so yet, what happens if they vote "yes" will they switch countries immediately or will it take weeks or months?

 

[craptakular]

I have an old Abbey account kicking around, I cba to switch will all bills and direct debits to contend with.

 

[Destination]

I have an old Abbey account kicking around, I cba to switch will all bills and direct debits to contend with.

You tell Santander to do it, and within a few days they've sorted the lot and you receive cash back instead of account charges.
Do it through quidco and get an extra bonus.

 

[Tefal]

No, there is no chance of that.
RBS managed to make losses of £46Billion in the past few years, and yet your money is still safe.
With assets/made up stuff of £1.9Trillion between them your money will be safe.

The question is, why do you not have a Santander 123 cashback account already?

well thats with the uk backing them, if Scotland becomes independent and they don't move all they'll have is the very flimsy Scottish government backing them with potentially no proper currency or lender of last resort to bail them out.

 

[Destination]

well thats with the uk backing them, if Scotland becomes independent and they don't move all they'll have is the very flimsy Scottish government backing them with potentially no proper currency or lender of last resort to bail them out.

I really don't care, as banking on that scale is all fabrication and gambling anyway.
Will consumers bank balances be affected, no, will savings be affected, no, will homeowner mortgages be affected, most likely not.
The Scots could cover such gubbins, as could the English.

The only reason the Irish economy got so shafted, is they decided to save their banks, instead of letting them fail, and save savers and homeowner mortgages instead.
Would have be a truly almighty mess to go the other way, but hilarity would have ensued.

 

[Tefal]

I really don't care, as banking on that scale is all fabrication and gambling anyway.
Will consumers bank balances be affected, no, will savings be affected, no, will homeowner mortgages be affected, most likely not.
The Scots could cover such gubbins, as could the English.

The only reason the Irish economy got so shafted, is they decided to save their banks, instead of letting them fail, and save savers and homeowner mortgages instead.
Would have be a truly almighty mess to go the other way, but hilarity would have ensued.

if the scots do as salmond has hinted lately of just using the pound informally then no they definitly couldn't cover the bailouts, unless the uk agreed to lend to them, which wouldn't be likely or would come at insane cost.

 

[dowie]

I have an old Abbey account kicking around, I cba to switch will all bills and direct debits to contend with.

and Spain's economy is doing really well at the moment....

Your money is still safe regardless.... there is still a Govt guarantee regardless of whether the parent company is registered in Scotland, Spain or even Cyprus...

 

[Rotty]

The vote is a non starter, not remotely worth worrying about

 

[Turambar]

Lloyds group is based in London already.

 

[Cosimo]

Your money will be safe so find something more important to worry about.

 

[StriderX]

The vote is a non starter, not remotely worth worrying about

Let's be honest here, the status quo is to not vote at all, these also happen to be the folk who would vote no/undecided...so I personally wouldn't brush it off as a clear vote. Regardless, this is offtopic.

I don't get won't the UK taxpayer still be the majority owner? Surely such things no longer matter with the fact that we helped secure foreign savings anyway?

I honestly wish people would stop thinking everything is the sole concern of one nation. Like with disasters that effect global food stocks (recent floods in England), i personally believe it should not be our entire responsibility to fix, because it cost everyone more...
Likewise we should be helping America with their drought as an example. As that certainly causes prices to rise, plus I like my orange juice .

 

[OhEsEcks]

I'm with Ulster Bank who're under RBS. I haven't left after two colossal system failures. Scottish independence doesn't phase me. It'll just be another one.

 

[arknor]

bank accounts are protected for up to 85k?

 

[[TFU] Thegoon84]

You tell Santander to do it, and within a few days they've sorted the lot and you receive cash back instead of account charges.
Do it through quidco and get an extra bonus.

I did this... So simple moving form Abbey. Get £300 a year now

 

[Westyfield2]

Lloyds group is based in London already.

IIRC Lloyds Banking Group headquarters is still in The City of London (Gresham Street) because of Lloyds Bank, but the registered office is Edinburgh because of the HBOS group acquisition.



If Scotland goes independent, does that mean they'd be independently responsible for all the HBOS bad loans?

 

[Hunders]

Aww man... I wanted to switch to Santander 123 but it states that I can't open one as I'm a student. I guess it wouldn't matter that I also work 20 hours a week...

It's a shame because that interest is so much better than that of my ISA.