Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Small Business - Financial Services Compensation Scheme
TNH-Andrew
Posts: 2 Newbie
Advice and ideas please.
I am in the fortunate position of having a small business banking account with a balance, built up over many years, in excess of the £75,000 figure which the FSCS would cover should my bank fail. I use this account to draw a modest but steady monthly salary - I am hoping to draw down my business savings as I move into semi-retirement and prior to drawing a pension. I am worried that my bank could fail (as remote as that may seem there is a finite chance of it happening especially in our current uncertain times). Any ideas what I can do to mitigate my risk? Is there any private deposit insurance I could buy to protect sums in excess of £75,000 (I have tried to research this on-line but without luck)?
I am in the fortunate position of having a small business banking account with a balance, built up over many years, in excess of the £75,000 figure which the FSCS would cover should my bank fail. I use this account to draw a modest but steady monthly salary - I am hoping to draw down my business savings as I move into semi-retirement and prior to drawing a pension. I am worried that my bank could fail (as remote as that may seem there is a finite chance of it happening especially in our current uncertain times). Any ideas what I can do to mitigate my risk? Is there any private deposit insurance I could buy to protect sums in excess of £75,000 (I have tried to research this on-line but without luck)?
0
Comments
-
Most people just open another bank account with a different bank to spread the balance so that all your eggs aren't in one basket.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606K Mortgages, Homes & Bills
- 179K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards