Am I understanding the Portman payout correctly?

miaxmia

I received notification today from the Portman of the proposed merger with a questions and answer leaflet. It states that you will receive a minimum of £200 pre tax and that the account with the lowest amount of money in will be the one you will receive it on. I have an account with £100 in and another account with considerably more in it? I am not sure I should agree to the merger if they are being sneaky and are only going to reward me for the £100 account when I have saved considerably more with them. Am I right or am I wrong?

£$&*"($£&(

I think the answer is no - your not understanding it correctly. The "lower of account balance" does not mean they will pay based only on the account with the lowest amount but based on the lowest amount in the account over a certain time from September 11th to the merger date. I think...