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Joint account deposit guarantee
Walletwatch
Posts: 1,055 Forumite
Hi
With the recent rate rise in ICICI, I am tempted to exceed the safe limit of GBP 35000 deposits there. What I have with them is a joint account with my wife, my question is does the protection amount per account holder, or per account, or in other words, can I go upto GBP 70000 in case it is a joint account and still be safe to the extent of 100% of the first GBP 4000 and 90% of the rest.
Cheers
WW
With the recent rate rise in ICICI, I am tempted to exceed the safe limit of GBP 35000 deposits there. What I have with them is a joint account with my wife, my question is does the protection amount per account holder, or per account, or in other words, can I go upto GBP 70000 in case it is a joint account and still be safe to the extent of 100% of the first GBP 4000 and 90% of the rest.
Cheers
WW
It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!
0
Comments
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Hi
Sorry, bumping this up, as I really am anxious about getting a response on this one..
Cheers
WWIt's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!0 -
Looks to be per person rather than per account:
Deposits: £31,700 per person.
100% of the first £2,000 and 90% of the next £33,000.
https://www.fscs.org.uk/consumer/key_facts/limitations_of_the_scheme/compensation_limits/
So my reading would be that the amount is doubled on a joint account. However to be on the safe side you may want to ask them directly at:
enquiries@fscs.org.uk0
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