Hitting deposit insurance ceiling - whaddayado?

[ThomasSoerensen]

When you hit the ceiling for the deposit insurance in an account (85,000 GBP in the UK), what do you do?

I have 2 months to find a solution for my business account?

[d000hg]

Get another account with a different bank (and make sure it definitely is a different bank).
Move it out of a bank account into something else.
Decide you don't think the government will let the bank fail and do squat.

[AtW]

I have 2 months to find a solution for my business account?

Are business accounts even insured?

[ThomasSoerensen]

it just seems like a lot of hazzle to open a new account in a separate bank.

But I guess there are no other options.

What do you do?

[ThomasSoerensen]

Are business accounts even insured?

In Germany they are (which is relevant to me)

[eek]

Are business accounts even insured?

Yes up to £85,000 per bank depending on the size of the business. I think the business rules are such that all businesses on here including yours would meet the criteria but I don't have the details to hand (I have however posted them on here before if you care to search).

[northernladuk]

Are you actually assessing the risk here or just worrying about something that has next to no chance of happening? There is being cautious with money and there is being daft.

[doomage]

“Put all your eggs in one basket and then watch that basket.” - Mark Twain

[Lockhouse]

When you hit the ceiling for the deposit insurance in an account (85,000 GBP in the UK), what do you do?

I have 2 months to find a solution for my business account?

Try the Investec High 5 account.

[Bunk]

Stick it in NS&I. Then it's all guaranteed.