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fsa compensation scheme
mints_2
Posts: 2 Newbie
hello i am a new member today
can anyone tell me
if you have several accounts in one bank and accounts in another bank which is owned by the first one
you do not have more than £50,000 total in all the accounts
should the bank fail can i claim for all the accounts to get all moneys back
or only claim for one of the accounts
can anyone tell me
if you have several accounts in one bank and accounts in another bank which is owned by the first one
you do not have more than £50,000 total in all the accounts
should the bank fail can i claim for all the accounts to get all moneys back
or only claim for one of the accounts
0
Comments
-
Hi and welcome,
The FSCS limit is £50,000 per depositor per institution, the number of accounts is irrelevant.
Whether one bank is owned by another is not what matters, it's whether the banks are covered by the same FSA authorisation or separately, see http://www.moneysavingexpert.com/savings/safe-savings#whatcounts0 -
Just look above this thread:
http://www.moneysavingexpert.com/savings/safe-savings
It's all there if you care to look!0
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