snikpoh

Does any one know if the Lloyds take-over of HBOS also affects Halifax Banco Hispania?

If so, to what extent?

CBANDY

I am sure it will but to what extent i dont know. You might be in for a little windfall but i doubt it

poshnbucks

There will be no windfalls Lloyds has taken over HSBO as a group which will be run by Lloyds TSB chairman Sir Victor Blank and the CEO will be Eric Daniels. There has been no mention of Halifax Banco Hispania being cherry picked by any other institution as Barclay's have done with Lehman Brothers and for the bargain price of 1.75 billion bought their very profitable investment banking and trading divisions. I think there will be Branch closures however your everyday banking will continue and will be unaffected.As I said before if there are a number of branches in close proximity there could be one or two branches closed and the staff unemployed.Remember also if you have been naughty at the Lloyds TSB I would think their data bases will be cross referenced in due course.

snikpoh

... is there a Lloyds in Spain?

What I'm really concerned about is ... In UK, the first 35k are OK if the Bank collapses but do they have the same criteria here in Spain?

Whilst I appreciate it's been a take-over (for HBOS), so the money should be safe, I am really interested wrt other banks.

For example, what if one of the Caixa's went bust? What level of insurance do we have in Spain? Is it the same 35K - I doubt it

Should we all start spreading our money around like in UK or are we back to the old days (in Spain) of cash under the bed?

twyntub

I believe that EU rules specify a minimum of 90% protection of deposits, up to 20,000 euro.

In the UK, in theory you're protected to up to £35k in each bank. In reality, with all the mergers / acquisitions - more and more of your accounts will come under the same bank's umbrella, so you might become unstuck when you try to 'spread it around'.

Money in the bank? Safe as houses, I reckon!

Fred James

You're right but it's not as simple as that. It depends on how the various consolidations and mergers are set up.

For instance, RBS took over Natwest but as both banks have separate banking licences you could have an account with RBS and another with NW and get the compensation on each account. The same will probably apply to Lloyds/HBOS.

I just wish I had enough money for it to be a problem!

Now those "free" HBOS shares I do have are another issue.

mikelincs

Yes there is a LLoyds in Spain, there is a branch just opened in La Zenia on the Costa Blanca

twyntub

I believe some of the cajas have been offering (amongst other things) "participative shares". Placing deposits into some of these banks is one thing - actively buying shares in them is quite another!

Maybe they should be called "precipice shares"?

jurdyr

windfall yes there will be but think be the CCO s and CEO s off the new companys
ya right you going to get it .... more charges on the way

ha look the banks shares there down 50% in some case
ha you get a deventent when make money and think be ask people to pay them this year lol

poshnbucks nice to see you back again and you moving you dodh again , you been on holidays
hope you uesd the bles channel
welcome back

poshnbucks

I am always around Jurdyr are you still keeping that Brinks Matt gold under you mattress. I know for a fact London Docklands was built with the Brinks Matt bullion. Now worth quiet a few pennies more than the stolen gold.Nice place to launder your cash from bullion. The man who gave them legal advice re land purchase got 7 years in the end but without his help they would never have disposed of any of the smelted proceeds. Mr Fordham was a very small player in the end product. Ah well my Dockland penthouse over looking the Thames still brings in a tidy quarterly rental I love the Japanese.

jurdyr

yes and think its safer then the banks , look where share are going and there more to come
only channel i have to watch out is the tve ones
pos sending you pm
jurdy

scampicat

We never have more than £2-3k in our Spanish account - it is purely a current account for everyday living and paying bills. So we won't have to worry too much if it goes pear shaped.

My husband's Teachers' Pension gets paid into the Co-op Bank in England and every so often I transfer the money - yes I know I lose on the exchange rate this way (although they gave us 1.23 this week) but we'd rather do it this way.

Our savings, such as they are , are mainly in Nationwide and Lloyd'sTSB - we don't have to bother about them exceeding £35000! But at least we get some interest, unlike if they were in our Spanish Bank where if you are lucky you will get a set of saucepans or, like us, a free mouse mat.

(I actually know a guy from our village who opened a new Bank Account with hardly any interest because he wanted the pressure cooker that came with it!)