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Bradford and Bingley - Shares

Discussion in 'General Discussion' started by 5UB, Feb 10, 2014.

  1. 5UB

    Commissario

    Joined: Apr 12, 2008

    Posts: 48,122

    Location: OcUK HQ

    When I was young I had shares in Bradford and Bingley.

    I never set this up, it was set up by my Grandad.

    I used to receive money from the shares monthly (many years ago), but since Bradford and Bingley went into trouble, it stopped.

    I came across documents recently, and I have £250 holding, and I called up and they said that I had £15 which I haven't cashed in, so they are sending me a cheque.

    The £250 holding cannot be taken out, as apparently the whole thing is frozen (I guess due to the company having financial issues?)

    All of the whole 'shares' thing is all new to me, and I have no idea what to do with the account. - I guess I should just forgot about it? They said I would be informed when the account is unfrozen, but is this likely ever going to happen?

    Is there a step I need to take, or is it just one of those things where I just leave it to one side?
     
  2. Theophany

    PermaBanned

    Joined: Sep 1, 2010

    Posts: 10,052

    Location: PermaProbation.

    Aren't B&B what is now Santander UK anyway?
     
  3. 5UB

    Commissario

    Joined: Apr 12, 2008

    Posts: 48,122

    Location: OcUK HQ

    I think so yes, did Santander buy them? Or are they under the same group?

    I really have no idea! - Just wondering what to do with the frozen shares, there is nothing I can do about it I guess, just forget about them and move on. I haven't lost anything as it was done for me.
     
  4. Theophany

    PermaBanned

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    If memory serves, Santander bought them along with what was Abbey National and later re-branded them all. All you can do really is forget about it and maybe sometime later you'll be able to liquidate them.
     
  5. BDEE

    Wise Guy

    Joined: Apr 21, 2011

    Posts: 2,249

    No.

    Santander bought out the savings accounts of B&B.

    The "bad bank" part of B&B is now owned by the government (UK Asset Resolution)

    It is a bit like the split of Northern Rock, where Virgin took over the good part and UKAR took the bad.

    I would think it is very unlikely you will be able to get your £250 in the near future, if ever.
     
  6. Theophany

    PermaBanned

    Joined: Sep 1, 2010

    Posts: 10,052

    Location: PermaProbation.

    In that case, wouldn't hold out on those shares then. :p
     
  7. 5UB

    Commissario

    Joined: Apr 12, 2008

    Posts: 48,122

    Location: OcUK HQ

    So I will just ignore them then! Thanks guys. :)
     
  8. sven256

    Mobster

    Joined: Oct 18, 2002

    Posts: 3,030

    Location: manchester

    As far as I know the shares went belly up, and are worthless. Lots of people too the gamble like on RBS, but it did not pay off and they lost their money.
     


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