Guaranteed savings

leedz

I understand that i would have protection for the first £50000 of savings with a uk financial institution, if that institution were to get into difficulties.
I have joint power of attorney for my mothers financial affairs, and as such, i am named in the title of her bank accounts, though the money is hers.
If I open a savings account in my name with the same institution do i get the full £50000 protection for my money?

the_annoyed_customer

yes you should as your mum's account is not yours even though you are technically in charge of it. So yeah you should be protected by the 50K separtly from your mum's account. But double check with the instution just to be on the safe side

Steve_xx

If you had a joint account with your mother, then the protection goes upto £100k, ie £50k each. So it seems that as you are acting as signatory for her that you would each be independently entitled to 50k protection each.