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Depositor Protection

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    Depositor Protection

    A few questions in relation to depositor protection..

    According to this article http://www.contractoruk.com/news/004019.html if you have your ltd company account and your personal account at the same institution you are only covered to a total of £50,000.00. Is this correct? They are separate entities so find this difficult to believe. If this is the case I think I need to look at moving my personal accounts to a new institution.

    Secondly is the £50,000.00 protection cover per person or per institution? For example lets say one has two personal accounts at two different institutions both with the £50k in them and they both went bust, would one be coved for the full £100K?

    #2
    It's 50k per parent institution. Have a look at the table below...

    http://www.moneysavingexpert.com/savings/safe-savings
    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

    Comment


      #3
      It's neither per person, nor per insitution.

      It's per person(s), per FSA registration. So Abbey and A&L are the same group of comapnies, but have separate FSA registrations.

      If you have a joint account, then it is assumed a 50:50 split in the account.

      But as Bagpuss says, it's all on MSE.
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      Comment


        #4
        I cannot believe that people are still asking this question, but better late than never.

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