Who owns the Principality Building Society?

Who owns the Principality Building Society?

Principality Building Society is mutual, which means it is owned by its members rather than shareholders. It serves clients through the internet and telephone as well as at high street branches. It is a member of the Building Societies Association.

Is Principality Building Society part of Barclays Bank?

Name of payee: The registered name on our account is Principality Building Society. Recipient bank – As a building society we use Barclays Bank as our bank account provider, so don’t worry if you see Barclays appearing as the recipient bank when putting money into your Principality savings account.

What happens if a building society goes bust?

If your bank, building society or credit union went bust, you’re entitled to compensation through the Financial Services Compensation Scheme. This is also the case for joint accounts and if you have money with two banks in the same banking group.

Is Principality Building Society covered by FSA?

We are covered by the Financial Services Compensation Scheme (FSCS) that was established under the Financial Services and Markets Act 2000. As a customer of Principality Building Society your account(s) with us are covered unless you are in one of the categories that is ineligible for the Scheme.

Which banks and building societies are linked?

Linked Banks and Creditors

• Allied Irish Bank. First Trust Bank (NI)
• Bank of Ireland. Post Office.
• Bank of Scotland. Birmingham Midshires.
• Barclays Bank. Barclaycard.
• Co-Operative Bank. Britannia.
• Family Building Society. National Counties Building Society.
• HSBC. First Direct.
• Nationwide Building Society. Cheshire Building Society.

What countries are principalities?

Generally recognised surviving sovereign principalities are Liechtenstein, Monaco, and the co-principality of Andorra. Extant royal primogenitures styled as principalities include Asturias (Spain).

Is NatWest linked to any other bank?

Natwest is part of the RBS Group but under its own authorisation. Royal Bank of Scotland is the ‘deposit-taking licence holder’ for Adam and Company. This means you’ll only be entitled to a total of £85,000 of FSCS protection (even if you have savings with more than one of these brands).

Is Santander linked to any other bank?

Note that although Santander is technically a foreign owned bank – because it’s owned by Banco Santander of Spain – savings are protected under FSCS because the bank has a UK licence.

Are building societies safer than banks?

Building societies have much more stringent rules to invest by than banks, as the board of directors is beholden to its members and by the laws governing the way a mutual is run. All this means that building societies should be a safe bet, with transparent financial dealings.

Which banks and building societies are grouped together?

Where can I find Principality Building Society Reviews?

The Principality Building Society, is a Welsh building society based in Cardiff. Smart Money People is the place for Principality Building Society reviews. Read and write reviews to help increase trust and transparency in Financial Services. What are people saying in their reviews?

Is the Principality Building Society above the FCA?

In fact they have worked hard to blame the customer for their shortcomings – despite being giving evidence, they still state they were in the right – obviously they are above fca guidelines – they are a nasty little company and you should steer clear, Thank you for your review.

How much does Principality Building Society earn in ERC?

Absolutely pathetic. They are holding out in the hope they earn c. £5k of ERC, whereas if they were customer focused they could have still earned £2k and I leave a happy customer… Thank you for the review.

What happens if you have a flexible mortgage with Principality?

With just a few weeks verbal notice Principality pulled my flexible mortgage mid-term during the pandemic defaulting me onto the standard variable rate costing me an additional £500 per month in interest.