Anybody know the legal position for business bank accounts? I know the government guarantees the first 35£k for personal accounts but what protection do you get on a business bank account. If my business bank goes tits up what happens to cash in the account??
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Originally posted by SandyDown View Postoh - that reminds me I have and a Halifax IF ISA, may be I should withdraw the money?"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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Originally posted by Moscow Mule View PostNo, you should not. Under £35k it's protected.Comment
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Originally posted by SandyDown View Postyeh protected - but will I be able to get it out when I need it?
It's folk like you that brought down NR the last time."See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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Originally posted by Moscow Mule View PostNo, you should not. Under £35k it's protected.
No one even knows if this £35K protection would actually pay out in reality if 10,000,000 savers all demand £35,000 in hard cash tomorrow, and how many years down the line you would receive your compensation. My guess it would take 50 yrs to get the payout.Comment
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Originally posted by Moscow Mule View PostWell, you haven't needed until now - what's the rush? And yes, that's the general idea of your money being protected, you can get it when you want it.
It's folk like you that brought down NR the last time.Comment
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Originally posted by DimPrawn View PostNo one even knows if this £35K protection would actually pay out in reality if 10,000,000 savers all demand £35,000 in hard cash tomorrow, and how many years down the line you would receive your compensation. My guess it would take 50 yrs to get the payout.Comment
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