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Hi all,

Can anyone tell me who Sainsburys bank are linked with? I see on their website they are linked to the Bank of Scotland. Would this mean they have links with any other banks at all as I know many banks are linked to each other now. The reason I ask is I plan to open a savings account with them to keep my clothing, dental, car money etc in each month and I dont want it to end up being taken from one of my creditors (if my IVA is approved that is!!)

thanks in advance
Andrea

Hi again onlypassion

The bank are 50% owned by Bank of Scotland plc and 50% owned by J Sainsbury plc. Bank of Scotland are part of the HBoS group, so I would avoid any banks linked to them, although I think an argument of set-off would be extremely unlikely. You should be safe with any of the clearing banks.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk