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backlight
10th October 2008, 08:43
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?

Bagpuss
10th October 2008, 09:03
It's 50k per parent institution. Have a look at the table below...

http://www.moneysavingexpert.com/savings/safe-savings

TheFaQQer
10th October 2008, 09:15
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.

Cyberman
10th October 2008, 09:23
I cannot believe that people are still asking this question, but better late than never. :laugh