Are my savings safe? Who owns who in the savings market?

Savings account small print

Be sure to check whether your bank shares its FCA authorisation with any others, as this will affect your savings' protection

For most people, £85,000 (from 31 December 2010) worth of savings cover will provide adequate protection. But what if you have more than this amount in savings?

The answer is that it's vital to spread your money around, placing it with separate financial institutions so that each chunk of your cash is covered separately under the Financial Services Compensation Scheme (FSCS). If you place too much money with a single institution, you could stand to lose some of it if your bank or building society went bust.

Unfortunately, it isn't always easy to spot which banks and building societies form part of the same financial institution. For example, most of us would not assume that BM Savings (Birmingham Midshires), the AA, Saga, Intelligent Finance, Bank of Scotland and Halifax are part of the same institution - but they are. 

In an example like this, you could safely hold just £85,000 of savings across all the banking brands belonging to the same institution. Saving more could put your money at unnecessary risk. To find out which banks and building societies share FSCS protection, you need to find out whether they have joint, or individual, authorisation from the Financial Conduct Authority (FCA)

Go further: See which savings account providers ranked highest in our customer satisfaction survey

The big brands - who do they own?

The tables below show which of the biggest financial services brands share FCA authorisation and who they are owned by. If several brands share a deposit-taking licence, you only get a total of £85,000 of FSCS protection even if you have savings with more than one of them.

 

BANK OF SCOTLAND
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
AA Financial ServicesThe Automobile Association LtdUKUKBank of Scotland plc
Bank of ScotlandLloyds Banking GroupUKUKBank of Scotland plc
BM Savings (Birmingham Midshires)Lloyds Banking GroupUKUKBank of Scotland plc
HalifaxLloyds Banking GroupUKUKBank of Scotland plc
Intelligent FinanceLloyds Banking GroupUKUKBank of Scotland plc
SagaSaga Personal Finance LtdUKUKBank of Scotland plc

 

BARCLAYS
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Barclays BankBarclays Bank plcUKUKBarclays Bank plc
Barclays Direct - formerly ING DirectBarclays Bank plcUKUKBarclays Bank plc
Standard Life Cash SavingsBarclays Bank plcUKUKBarclays Bank plc

 

HSBC
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
First DirectHSBC Bank plcUKUKHSBC Bank plc
HSBCHSBC Bank plcUKUKHSBC Bank plc

 

LLOYDS TSB
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Cheltenham & GloucesterLloyds Banking GroupUKUKLloyds TSB Bank plc
Lloyds TSBLloyds Banking GroupUKUKLloyds TSB Bank plc

 

NATIONWIDE BS
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Cheshire Building SocietyNationwide Building SocietyUKUKNationwide Building Society
Derbyshire Building SocietyNationwide Building SocietyUKUKNationwide Building Society
Dunfermline Building SocietyNationwide Building SocietyUKUKNationwide Building Society
Nationwide Building SocietyNationwide Building SocietyUKUKNationwide Building Society

 

NATWEST
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
NatWestRoyal Bank of Scotland GroupUKUKNational Westminster Bank plc

 

ROYAL BANK OF SCOTLAND
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Royal Bank of ScotlandRoyal Bank of Scotland GroupUKUKRoyal Bank of Scotland

 

SANTANDER
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Alliance & LeicesterSantander GroupUKUKSantander UK plc
CahootSantander GroupUKUKSantander UK plc
SantanderSantander GroupUKUKSantander UK plc

 

THE CO-OPERATIVE BANK
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
BritanniaThe Co-operative GroupUKUKThe Co-operative Bank plc
SmileThe Co-operative GroupUKUKThe Co-operative Bank plc
The Co-operative BankThe Co-operative GroupUKUKThe Co-operative Bank plc
YORKSHIRE BS
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
Barnsley Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Chelsea Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Norwich & Peterborough Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Yorkshire Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society

 

Who owns who in the savings market?

This table gives a more comprehensive list of banking brands, how each of them is licensed by the FCA, and therefore whether it can offer consumers individual or joint savings protection under the FSCS.

If you see that two or more banking brands share the same banking licence, this means you cannot safely save more than £85,000 across all of them - as is the case with the savings providers mentioned in the example above.

Who owns whom?
ProviderOwned by or subsidiary ofCountry where licence is heldCompensation schemeDeposit taking (banking) licence
AA Financial ServicesThe Automobile Association LtdUKUKBank of Scotland plc
AldermoreAldermore Bank plcUKUKAldermore Bank plc
Alliance & LeicesterSantander GroupUKUKSantander UK plc
Allied Irish Bank (GB)Allied Irish BanksUKUKAIB Group (UK) plc
Allied Irish Bank (GB) Savings DirectAIB Group (UK) plcUKUKAIB Group (UK) plc
Bank of China (UK)Bank of ChinaUKUKBank of China (UK) Ltd
Bank of Cyprus (UK)Bank of Cyprus Public Company LtdUKUKBank of Cyprus UK Ltd
Bank of Ireland (IOM) LtdBank of Ireland GroupIsle of ManIsle of ManLicensed in the Isle of Man
Bank of Ireland UKBank of Ireland GroupUKUKBank of Ireland UK plc
Bank of London and The Middle Eastn/aUKUKBank of London and The Middle East plc
Bank of ScotlandLloyds Banking GroupUKUKBank of Scotland plc
Barclays BankBarclays Bank plcUKUKBarclays Bank plc
Barclays Direct - formerly ING DirectBarclays Bank plcUKUKBarclays Bank plc
Barclays Wealth & Investment ManagementBarclays Bank plcGibraltar, Guernsey, Isle of Man, JerseyGibraltar, Guernsey, Isle of Man, JerseyLicensed in Gibraltar, Guernsey, Isle of Man, Jersey
Barnsley Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Bath Building Societyn/aUKUKBath Building Society
Beverley Building Societyn/aUKUKBeverley Building Society
BM Savings (Birmingham Midshires)Lloyds Banking GroupUKUKBank of Scotland plc
BritanniaThe Co-operative GroupUKUKThe Co-operative Bank plc
Britannia InternationalThe Co-operative GroupIsle of ManIsle of ManLicensed in the Isle of Man
Brown ShipleyKBL European Private BankersUKUKBrown Shipley & Co Ltd (in the UK), KBL European Private Bankers S.A in Luxemburg
Buckinghamshire Building Societyn/aUKUKBuckinghamshire Building Society
Buttersfield Private BankThe Bank of N.T Buttersfield & Son LtdUKUKButtersfield Bank (UK) Ltd
CahootSantander GroupUKUKSantander UK plc
Cambridge Building Societyn/aUKUKCambridge Building Society
Cater Allen Private BankSantander GroupUKUKCater Allen Ltd
Charity BankThe Charity Bank LtdUKUKThe Charity Bank Ltd
Chelsea Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Cheltenham & GloucesterLloyds Banking GroupUKUKLloyds TSB Bank plc
Cheshire Building SocietyNationwide Building SocietyUKUKNationwide Building Society
C Hoare & CoC Hoare & CoUKUKC Hoare & Co
Chorley & District Building Societyn/aUKUKChorley & District Building Society
CitibankCitigroup IncUKUKCitibank International plc
City of Derry Building Societyn/aUKUKCity of Derry Building Society
Close SavingsClose Brothers Group plcUKUKClose Brothers Ltd
Clydesdale BankNational Australia Bank GroupUKUKClydesdale Bank plc
Coutts & CoRoyal Bank of Scotland GroupUKUKCoutts & Co
Coventry Building Societyn/aUKUKCoventry Building Society
Cumberland Building Societyn/aUKUKCumberland Building Society
Danske BankDanske Bank GroupUKUKNorthern Bank Ltd
Darlington Building Societyn/aUKUKDarlington Building Society
Derbyshire Building SocietyNationwide Building SocietyUKUKNationwide Building Society
Dudley Building Societyn/aUKUKDudley Building Society
Dunfermline Building SocietyNationwide Building SocietyUKUKNationwide Building Society
Earl Shilton Building Societyn/aUKUKEarl Shilton Building Society
Ecology Building Societyn/aUKUKEcology Building Society
First DirectHSBC Bank plcUKUKHSBC Bank plc
FirstSaveFBN Bank (UK) LtdUKUKFBN Bank (UK) Ltd
First Trust Bank (NI)AIB Group (UK) plcEEA - IrelandIrishAIB Group (UK) plc
Furness Building Societyn/aUKUKFurness Building Society
GE Capital DirectGeneral ElectricUKUKGE Capital Bank Ltd
HalifaxLloyds Banking GroupUKUKBank of Scotland plc
Hanley Economic Building Societyn/aUKUKHanley Economic Building Society
Harpenden Building Societyn/aUKUKHarpenden Building Society
Hinckley & Rugby Building Societyn/aUKUKHinckley & Rugby Building Society
Holmesdale Building Societyn/aUKUKHolmesdale Building Society
HSBCHSBC Bank plcUKUKHSBC Bank plc
HSBC EpatHSBC Bank plcGuernsey, Isle of Man, JerseyGuernsey, Isle of Man, JerseyLicensed in Guernsey, Isle of Man, Jersey
ICICI Bank plcICICI Bank LtdUKUKICICI Bank UK plc
Intelligent FinanceLloyds Banking GroupUKUKBank of Scotland plc
Investec Bank (Channel Islands Limited)Investec plcGuernsey, JerseyGuernsey, JerseyLicensed in Guernsey and Jersey
Investec Bank plcInvestec plcUKUKInvestec Bank plc
Ipswich Building Societyn/aUKUKIpswich Building Society
Islamic Bank of BritainQater Bank of Scotland GroupUKUKIslamic Bank of Britain
Isle of Man BankRoyal Bank of Scotland GroupIsle of ManIsle of ManLicensed in the Isle of Man
Julian Hodge BankJulian Hodge Bank GroupUKUKJulian Hodge Bank Ltd
Kleinwort Benson (Channel Islands) LtdRHJ International S.A.Guernsey, Isle of Man, JerseyGuernsey, Isle of Man, JerseyLicensed in Guernsey, Isle of Man, Jersey
KrbsOneSavings plcUKUKOneSavings plc
Leeds Building Societyn/aUKUKLeeds Building Society
Leek United Building Societyn/aUKUKLeek United Building Society
Lloyds TSBLloyds Banking GroupUKUKLloyds TSB Bank plc
Lloyds TSB InternationalLloyds Banking GroupGibraltar, Guernsey, Isle of Man, JerseyGibraltar, Guernsey, Isle of Man, JerseyLicensed in Gibraltar, Guernsey, Isle of Man, Jersey
Loughborough Building Societyn/aUKUKLoughborough Building Society
Marks & Spencer BankHSBC Bank plcUKUKMarks & Spencer Financial Services plc
Manchester Building Societyn/aUKUKManchester Building Society
Mansfield Building Societyn/aUKUKMansfield Building Society
Market Harborough Building Societyn/aUKUKMarket Harborough Building Society
Marsden Building Societyn/aUKUKMarsden Building Society
Melton Mowbray Building Societyn/aUKUKMelton Mowbray Building Society
Metro Bankn/aUKUKMetro Bank
Monmouthshire Building Societyn/aUKUKMonmouthshire Building Society
National Counties Building Societyn/aUKUKNational Counties Building Society
National Savings & Investments (NS&I)An executive agency of the Chancellor of the Exchequern/an/an/a
Nationwide Building Societyn/aUKUKNationwide Building Society
Nationwide InternationalNationwide Building SocietyIsle of ManIsle of ManLicensed in the Isle of Man
NatWestRoyal Bank of Scotland GroupUKUKNational Westminster Bank plc
NatWest OffshoreRoyal Bank of Scotland GroupGibraltar, Guernsey, Isle of Man, JerseyGibraltar, Guernsey, Isle of Man, JerseyLicensed in Gibraltar, Guernsey, Isle of Man, Jersey
Newbury Building Societyn/aUKUKNewbury Building Society
Newcastle Building Societyn/aUKUKNewcastle Building Society
Norwich & Peterborough Building SocietyYorkshire Building SocietyUKUKYorkshire Building Society
Norwich & Peterborough Building Society - Gibraltarn/aGibraltarGibraltarLicensed in Gibraltar
Nottingham Building Societyn/aUKUKNottingham Building Society
Penrith Building Societyn/aUKUKPenrith Building Society
Permanent Bank International plcPermanent TSB plcIsle of ManIsle of ManLicensed in Isle of Man
Post Office@Royal Mail Group LtdUKUKBank of Ireland (UK)
Principality Building Societyn/aUKUKPrincipality Building Society
Progressive Building Societyn/aUKUKProgressive Building Society
Raphaels BankLenlyn Holdings plcUKUKR Raphael & Sons plc
Royal Bank of Canada (CI)Royal Bank of CanadaGuernsey, JerseyGuernsey, JerseyLicensed in Guernsey, Jersey
Royal Bank of ScotlandRoyal Bank of Scotland GroupUKUKRoyal Bank of Scotland
Royal Bank of Scotland InternationalRoyal Bank of Scotland GroupGibraltar, Guernsey, Isle of Man, JerseyGibraltar, Guernsey, Isle of Man, JerseyLicensed in Gibraltar, Guernsey, Isle of Man and Jersey
Saffron Building Societyn/aUKUKSaffron Building Society
SagaSaga Personal Finance LtdUKUKBank of Scotland plc
Sainsbury's FinanceSainsbury's Bank plc (50% owned by Bank of Scotland - a subsidary of Lloyds Banking Group, 50% by Sainsbury's plcUKUKSainsbury;s Bank plc
SantanderSantander GroupUK, Isle of ManUK, Isle of ManSantander UK plc, Isle of Man
Santander Private BankingSantander GroupJerseyJerseyLicensed in Jersey
Scottish Building Societyn/aUKUKScottish Building Society
Scottish Widows BankLloyds Banking GroupUKUKScottish Widows Bank
Secure Trust BankArbuthnot Banking Group plcUKUKSecure Trust Bank plc
SelftradeTalos Securities LtdUKUKTalos Securities Ltd
Shawbrook Bank LtdRBS Equity FinanceUKUKShawbrook Bank Ltd
Shepshed Building Societyn/aUKUKShepshed Building Society
Skipton Building Societyn/aUKUKSkipton Building Society
Skipton Investment LtdSkipton Building SocietyGuernseyGuernseyLicensed in Guernsey
SmileThe Co-operative GroupUKUKThe Co-operative Bank plc
Stafford Railway Building Societyn/aUKUKStafford Railway Building Society
Standard Bank OffshoreStandard Bank Group LtdJersey, Isle of ManJersey, Isle of ManOperated in Jersey, Isle of Man
Standard Life Cash SavingsBarclays Bank plcUKUKBarclays Bank plc
State Bank of IndiaSate Bank of India (Mumbai, India)UKUKState Bank of India
Swansea Building Societyn/aUKUKSwansea Building Society
Teachers Building Societyn/aUKUKTeachers Building Society
Tesco BankTesco plcUKUKTesco Personal Finance plc
The Co-operative BankThe Co-operative GroupUKUKThe Co-operative Bank plc
Tipton & Coseley Building Societyn/aUKUKTipton & Coseley Building Society
Triodos BankTriodos Bank NVEEA - NetherlandsDutchTriodos Bank NV
Turkish Bank (UK) LtdTurkish Bank LtdUKUKTurkish Bank (UK) Ltd
Ulster BankRoyal Bank of Scotland GroupUKUKUlster Bank Ltd
United Bank UKUnited National Bank LtdUKUKUnited National Bank Ltd
United Trust BankUnited Trust Bank LtdUKUKUnited Trust Bank Ltd
Vanquis Bank LtdProvident Financial GroupUKUKVanquis Bank Ltd
Vernon Building Societyn/aUKUKVernon Building Society
Virgin MoneyVirgin GroupUKUKVirgin Money plc
Weatherbys Bank LtdWealtherbys Bank Holdings LtdUKUKWeatherbys Bank Ltd
Wesleyan BankWesleyan Assurance SocietyUKUKWesleyan Bank Ltd
West Bromwich Building Societyn/aUKUKWest Bromwich Building Society
Yorkshire BankNational Australia Bank GroupUKUKClydesdale Bank plc
Yorkshire Building Societyn/aUKUKYorkshire Building Society

 

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