£35k limit / Joint names

bampah

We have several A/Cs with Nationwide, some joint, some individual as shown
Joint
Current - £2,500
Current - £2,000
eSavings - £50,000
Individual
ISA - £10,000
ISA - £10,000
Bond - £2,000
Savings - £3,500

In total approx. £80,000.

1. How would we stand if the Nationwide went bust
2. What's our best move to protect our money?

YorkshireBoy

1. In an orderly queue with over a million other customers outside the FSCS offices in Portsoken Street, London E1 8BN.

2. Reduce your personal holdings to a maximum of £35,000 each (less if you want any accrued interest paid out).

You're covered for £35,000 per customer per institution.

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

bampah

YorkshireBoy wrote: »

2. Reduce your personal holdings to a maximum of £35,000 each (less if you want any accrued interest paid out).

You're covered for £35,000 per customer per institution.

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

But £70,000 for joint accounts; hence my dilemma

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

YorkshireBoy

bampah wrote: »

hence my dilemma

Where's the dilemma?

You are each covered for £35,000. It doesn't matter whether this £35,000 is in sole or joint accounts; it's £35,000 per person per institution as I said above.

You just have to decide what to do with any amount each of you has over and above the £35,000.

dunstonh

bampah wrote: »

We have several A/Cs with Nationwide, some joint, some individual as shown
Joint
Current - £2,500
Current - £2,000
eSavings - £50,000
Individual
ISA - £10,000
ISA - £10,000
Bond - £2,000
Savings - £3,500

In total approx. £80,000.

1. How would we stand if the Nationwide went bust
2. What's our best move to protect our money?

You need to clarify what you have.

Are the ISAs S&S ISAs or cash ISAs?
are the bonds investment bonds or fixed term deposits?