FSCS Protection

[bitchstewie]

Could someone please confirm how you can tell how much separation there is between the banking and investment arms of banking groups please?

For example if you bank with Halifax and have investments with IWeb they both part of Lloyds banking group but at the FSCS protection level are they one "pot" of protection or two?

Both look to have different numbers on the FSCS database.

[Bloxxcreative]

Think there's 2. One for investment arm and one for retail. On their fscs guarantee it'll say what companies are covered under the corporate structure.

[Piginapoke]

As Bloxx says, they are separate schemes (and paid for separately by each eligible business).

Details here: https://www.fscs.org.uk/what-we-cover/

[eyebeebe]

When you say investments, do you mean shares, bonds, funds etc? If so they aren’t covered by deposit guarantees as they aren’t part of the bank’s balance sheet. If the bank goes pop they’re safe as they are segregated.