How worried should we really be?
The lack of a common currency union would mean Scottish banks are no longer backed by the Bank of England. A separate regulator and compensation scheme means there would be no backing by the FSCS in due course. Similarly with Scotland's application to the EU being by no means guaranteed there would be no common compensation standards applied.
Halifax now has a Bank of Scotland banking licence so all its customers would be affected. Similarly Bank of Scotland business customers south of the border. Of course not all Scottish owned banks have given up their English licence but it is worth checking.
There would be a transition period if the vote goes against the union but how long will it take for foreign (including English, Welsh and Northern Irish) to realise what is happening and withdraw their money from across the border?
Some of my Scottish colleagues are looking forward to working for a new Scottish regulator and there could be a lot of work to help sort everything out. Every cloud has a silver lining but there is no doubt that this could be a huge risk for all of us.