Yorkshire Bank

weekenders

I apologise if this has been asked before but I cannot find it if it has. I am the owner of a small company which has a large amount of money from a property sale on deposit with Yorkshire Bank. It is locked in for 1 more month. Does the guarantee given by the Australian goverment cover money on deposit with The Yorkshire Bank as it is owned by an Australian bank and if it does relate to The Yorkshire does it also cover deposits held in the name of a company as opposed to an individual?

Reaper

I believe the Yorkshire bank is in the FSCS scheme. As to whether a buisness bank ac is covered here is my answer copied from the Credit Crunch FAQ

Q12: Is my business bank account covered by the FSCS?
Small companies only. To qualify score 2 out of 3 on: (1) A turnover of not more than £6.5m (2) A balance sheet total of not more than £3.26m (3) A total number of employees of not more than 50.
Partnerships - not the individual partners - could claim up to £50,000.
Sole trader could claim up to £50,000 in total, but can only claim for either personal or business accounts with each institution - they cannot claim for both.
For more info see this thread, and this one if your Ltd. Co. and personal savings are with the same bank.

zx2011

Yorkshire Bank is a trading name of Clydesdale Bank PLC.

Clydesdale Bank PLC is part of National Australia Bank Group.

More info at http://www.cbonline.co.uk/about-clydesdale-bank/

Reaper

You are right, but the question was whether they are protected under Australian or UK compensation schemes. The answer is the UK - you'll find Clydesdale on the FSCS list here.