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Where to save Business accounts savings?
SussexDon1
Posts: 5 Forumite
I understand from a previous answer that the £35k Govt protection scheme does not cover a business account for a small business. So am thinking of spreading it around perhaps Northern Rock and B&B now that they are Govt. Currently we have about £75k in Clydesdale. What is position on Scottish Banks?
We also have some funds in National Irish Banks and although they are now covered by £80k scheme assume biz accounts are also not covered in Ireland?
Why do business savings accounts seem to have significantly lower interest rates than accounts for individuals?
Where do you recommend I spread the money - where are the best rates?
Thanks
SussexDon
We also have some funds in National Irish Banks and although they are now covered by £80k scheme assume biz accounts are also not covered in Ireland?
Why do business savings accounts seem to have significantly lower interest rates than accounts for individuals?
Where do you recommend I spread the money - where are the best rates?
Thanks
SussexDon
0
Comments
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Check out to BOS purely savings account known as the TBA account guaranteed to be over the base rate for 12months, hope this is of a help to you
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Any other recommendations please? (as BOS will now be part of Lloyds)
Thanks0 -
Itoo could do with some info on business accounts. There seems to be much debate on private accounts & ways to safeguard your money - but nothing on ltd business accounts.
Any ideas on good solid accs? Especially as 35k protestion doesn't apply. And should we be spreading risk???
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Small businesses ARE covered by the scheme, check out the FSA website for elegibility.0
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