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    • SparklesJD
    • By SparklesJD 16th Oct 16, 9:19 PM
    • 53 Posts
    • 95 Thanks
    SparklesJD
    Yes, they are separately entitled to their own £75k's worth of protection. It's confirmed by MSE here: http://www.moneysavingexpert.com/savings/safe-savings


    'This is an independent fund set up by government and regulated by the FCA, which promises that, in the event of a bank collapsing, you get some of your money back, though it's likely you'll lose access to the cash while compensation is being dished out. This applies to everyone, no matter their age (including children), or where they live.' [My bold].



    As an aside, if your children have a high level of savings, it's worth checking out the tax rules on savings for under 18's.
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