banking guarantee and joint acount

sanfly

Quote from the mail financial section yesterday in an article by Charlotte Beuge......."If you had two separate accounts with one bank each holding £50000 your total compensation would be £31700, if you have a joint account each holder gets half the compensation"....... I always thought that if you had a joint account then each holder would receive £31700, therefore you could safely hold £35000 each in a joint account......which is right?????

YorkshireBoy

...each account holder in a joint account would be eligible for compensation up to the maximum limit.

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

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